search

DataPhilly / projects

Repo used for planning. Issues should be added via https://github.com/orgs/DataPhilly/projects/1/views/1
0 stars 0 forks source link

Secure fiscal sponsorship #4

Open mdbecker opened 1 month ago

mdbecker commented 1 month ago

Ensure that DataPhilly's fiscal sponsorship is on solid footing. This will provide a stable foundation for the group's financial operations and enable future growth.

mdbecker commented 1 month ago

5/29/24 Update:

Our fiscal sponsor, Open Collective Foundation (OCF), is dissolving. As a result, we need to make an immediate decision about our plans for the funds we have with them:

Immediate Decision (Deadline: ASAP)

  1. Fill out OCF's Exit & Unhosting Review Form to avoid losing access to our funds (approximately $1k).
  2. Decide whether to: a) Spend down our existing funds on DataPhilly expenses by September 30, 2024, or b) Transfer the funds to another 501(c)(3) nonprofit organization.

Tonight's Meeting Agenda

  1. Discuss and make a decision on our plan for the funds (spend down by September 30, 2024, or transfer to another 501(c)(3)).
  2. Fill out OCF's Exit & Unhosting Review Form based on our decision.

Please note that while we have until September 30, 2024, to spend down the funds if we choose that option, the immediate priority is to fill out the Exit & Unhosting Review Form to inform OCF of our decision and avoid losing access to the funds.

Longer-Term Considerations (Not for tonight's meeting)

  1. If spending down funds, create a plan for using the money (A/V equipment, meetup.com fees, etc...).
  2. Decide on a long-term fiscal sponsorship/legal structure (e.g., find another fiscal sponsor, establish our own nonprofit, or explore alternative structures).
  3. Research and discuss the process and requirements for establishing our own nonprofit.
  4. Identify potential collaborators (Code4Philly?) and resources for long-term planning.
mdbecker commented 3 weeks ago

OCF's Exit & Unhosting Review Form was filled out last week. I'll send a follow-up to OCF to verify that they received the form. Work still needs to be done to identify a new fiscal sponsor. I'll reach out to Code4Philly next to see what their plans are.