Budget for 2013 Q2 Apr-Jun

This budget is based on the Q1 budget, with no changes.

The Q2 Budget will be determined by the Board of Directors after the Next Quarterly Member Meeting, postponed to the end of April ( April 27th: 6pm )

tl;dr for April

$6106 billed, $5568 paid. We have no buffer left. We are now forced to spend the C1 funds to meet general expenses.

Santa's Naughty List for April

• There are $536.66 unpaid hackerspace dues 90+ days overdue.
• There are $108.33 unpaid hackerspace dues 61-90 days overdue.
• There are $61.33 unpaid hackerspace dues 31-60 days overdue.
• There are $448.16 unpaid hackerspace dues 0-30 days due for this month.

There is $786.41 in overall outstanding money due to the hackerspace

The members who have had their memberships terminated, and are in Bad Standing for unpaid dues are:

• Aaron Reed
• Cecelia Corral
• Elom Tsogbe
• Jared Tennant
• John Berlakovich
• Michael Kiamanesh
• Benjamin Lukens
• Shanta Stevens

Monthly Income

We have taken in our first batch of C1 round funding. As of March 30th, we will have received $20,600.

The current member rates are as follows, as we have completed our Co-Op conversion:

• To join the ATX Hackerspace co-op, you will need to purchase a $100 share. There are three ways to do so:
  • Pay in full, receive your voting rights and hackerspace membership benefits immediately
  • Pay in 12 monthly installments by signing up for a yearly hackerspace plan, and receive voting rights and benefits immediately.
  • Pay in 2, 5, or 10 monthly installments as a layaway, and receive voting rights and benefits when you complete your payments.

• $75/mo will be the Standard hackerspace month-to-month rate
• $50/mo ($25 discount/mo) is applied if a member signs on for Automatic Payments
• $30/mo ($25 discount AutoPay + $20 discount ) are the Reduced Rate hackerspace dues, which requires the consent of the Board.

• $150/mo is the Standard rate for a Co-Working desk add-on
• $10/mo is the Standard rate for a 2'x3'x3' storage area add-on
• $50/mo is the Standard rate for a 4'x4'x4' pallet storage area add-on

Members

Total Membership

We have 8 Friends-and-Family members We have 112 Main Members

We gained 24 members in April We lost 4 members in March We have a net gain of 24 members

There are 120 members of the hackerspace in March, we need 135 members to meet our financial goals.

Co-Op Members

We have 49 Co-Op members that have signed their Joinder agreements, and paid for shares We have 14 people who have purchased Co-Op shares, but have not completed the process.

We have a potential of 60 total Co-Op members!!! Get those Joinder Agreements in, pay for your shares!

Patrons

We have 71 Patrons in March, including members who have not completed the Co-Op process.

To meet our Q1(end of March) budget goals, we need to have the equivalent of 135 standard rate members on the books.

Expenses

Our minimum contracted obligations, are estimated to be as follows. This means all funds are be frozen, until more income becomes available to add money to them, but we can continue to raise funds via the C-1 investment round shares.

• $4055.50 Rent until Aug 2013
• $400 Austin Energy Estimated
• $542.27 Time Warner Business Internet ( 50/5 megabit )
• $400 Laser Cutter Lease
• $160 Bank Fees
• $94.48 Insurance Policy
• $85 Garbage and Recycling
• $167 12-month amortized ADT Pulse Security System
• $65 Clear Wireless Internet
• $70 FreshBooks Invoicing
• $50 ADT Security System Service Fee
• $45 Authorize.net
• $16 Google Apps for Business

• $6150.25 Expenses + Rent

One Time Expenses

April Not yet complete

Balances

Our total balance assets at this time are $25322.11 ( 4 / 27 / 2013 )

• ($666.18) on Company Credit Card, Secured by Martin's line of credit ( $5000 credit line )
• $25888.69 in our Bank of America account
• $100 in petty cash

Funds

All funds taken together total $5436

The various funds we are saving have the following balances (against the total assets), all are currently frozen

• $3005 SawStop Fund (Funded)
• $482 Tool Fund
• $1100 Furnishings
• $729.46 Advertising

Profit / Loss

If we subtract the pre-allocated funds and non-rent expenses from the total available balance assets, we have $17,991 available in the bank.

We have NO OPERATING BUFFER, it has been entirely spent in March.

We have started to cut into the C1 funding round to pay our expenses. Our C1 round raised $20,600. We have now spent $3740 of the C1 to keep the hackerspace running.

Our monthly operating loss is now $1524/mo, calculated to cover the end of April. We need to raise monthly revenue!!!

Co-Op and a new Investment Fund

With the conversion to an LLC Co-Op, we will be entering an investment phase. We need more money to:

• Build our new 3 month buffer, which will be ~$22,000
• Afford more than just a basic "shell" build-out of the new space.
• Purchase new chairs, desks, and furnishing above our $1100 budget
• Afford events, outreach, and more!
• Install a new machine shop, purchase better and more equipment

We're looking to raise $30-50k. The way this will be done is through sales of series of non-voting stock in the new Co-Op (Series C).

There are 294 shares left in the C1 financing round.