Meeting Notes/20140107

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  • * Matt Mancuso
  • Budget - Martin B
  * 4th quarter 2013 report


  • NONE

ROLL CALL Total attendance 15+3 board members, quorum not possible No roll call taken

________________ Budget: Quarterly report

Slideshow tells the tale: Q4 Financial report Major expenses for Q4: Buildout, Utilities, buildout (23k)

Oct, down 20k to 8k Nov Dec, went negative by ~$4k

Outstanding debts: Credit Card: 3,043.73 Legal (MWR) Accounting (Leslie Pearson B-Shares: $6,600, C shares $19,600, A shares $20,400 Grand total, $52K

Q3 end, 169 members, Oct 161, Nov 153, Dec 141 Net loss 28 members, 17% of membership, net loss of $1400/mo

Ongoing contracts/risks: Dessau lease: $242k, TWC $6,515, ADT $1,536, Yearly memberships $2400 Total $252,731.64

P&L for 2013: $89K, $132K expenses, $-42,720 We actually had much of this in the bank, some of these items were invested in assets First six months: membership went up, second six months, membership went down

Our expenses exceed income. We were overdrawn Jan 1st, we were able to pay our rent due to the holiday If this trend continues we are out of business by March

Overall we are ~50 members short. It takes $9000 to keep the doors open in winter (metaphorically. Doors not actually not kept open)

Fundraising needs to ensue. Selling things has helped (thanks Danny) but that’s not sustainable. Selling things that we make is good. If we can make it to SXSW that will help Community outreach to bring in members is among the only sure long-term options

q: Does revolt pay for the coworking? a: They have a $650/mo recurring 6mo contract, renewed this month q: Where is this reflected in the report? a: This is reported in member dues. q: What about Arc Attack? a: $200 dues, just as members q: How many people are paying for storage? a: 4 people paying for storage, counted under misc income

q: Is coworking on schedule to start producing income a: martin don’t know, Matt

q: Why is banking expensive? Are transaction fees excessive? a: We are paying ~3% in transaction fees - it looks like alot, but it’s averageish

q: from martin - Last report everyone said the report was too hard to read…

   do you prefer this, or the old one?

a: unanimous show of hands prefers this format

Next big tax is the filing of 2013 taxes by March 15 Investors should be receiving a prospectus

Martin signing out

The Robot Group There are some problems with their normal meeting location Come join us!

Mistress of Propaganda Michelle:

Two possible events: 25th of Jan 1st of March

Both related to Steam-cubed, Steam^2 an education We don’t normally charge as a venue, because this boosts recruitment, but we ran out of money, and this might be an exception. The event on March 1st there will be We may also be hosting an EFF event in March

q: We have plans to charge for event space, are we doing concessions or anything? a: Well, we can do make ‘n bake stuff, but the event will be catered.

q: how was make ‘n bake for this? a: The turnout was fairly steady, if light. We did this with online hype (facebook/twitter/meetup)

These are all parties or sessions for events that will have attendees. The 25th of Jan this event rolls, we’ll have a meeting with Maggie (the organizer) soooon.

Lounge & Kitchen Clio and Danny have been talking about getting the adhesive off the flooring. There emulsifiers we can get at the home depot - Clio will pay for adhesive, Martin will pay for the polisher We do need a place to put material before clearing the space

What can we do about the money? This will happen after the meeting

Task group: polish da floor will be meeting for information contact Clio