Improve our financial infrastructure?

[BarkleyBG]

Now that CfM is off and running, we ought to consider improving our financial infrastructure. I have concerns that our current system may not be sustainable in the long term (that is, I dont know how many community members are interested in paying $$ for our food at Hack Nights).

Laid out below are some goals, and some ways we can go about achieving them. I think this would be a large project (and not something we finish in a couple days). With the workload necessary, think we should consider starting a Financial Infrastucture Committee of people/resources who can help us to take on these big questions.

goals

• secure more consistent funding for Hack Nights.
• determine how we can secure funding for certain services that are necessary to complete projects. i.e., #69

statuses we can work towards

• Determine whether becoming a 501(c)3 or other not-for-profit status would help us
• Determine what we would want out of a partnership with a local for-profit organization (e.g., hack nights sponsored by a large regional employer), and how to go about securing that
• find local grants (i.e., https://kohlshometowngiving.com/, or #76 ) that can help us to obtain funding

Resources available to us

We ought to invite people with strengths and experience in:

• forming relationships/partnerships with corporate behemoths
• working as a 501(c)3 or other not-for-profit structure
• applying for grant $ ( update: Brian has an amigo who is good at this, and may be interested )

[erinmagennis]

If we want pro-bono legal counsel in setting up a 501c3 (and anything else) and are down with having an upperclassmen with attorney prof oversight - Marquette Law Clinic and Madison Law/Entrepreneurship Clinic could be options to pursue.

If so, it will be beneficial to have a more solid business plan thought through/sustainable funding pipeline before we ask for their help.

[anthonyjesmok]

Between our March and April hack nights, we should definitely ramp up our treasurer search.