Alarming financial micro-report: We're not making enough money to cover basic expenses

Financial micro-report.

We have $177,736.67 in the bank. Oh no! That’s a drop from our peak of ~$200,000. What’s going on? I dunno. I haven’t been paying attention, obviously. Just checking in from Queens and seeing what’s up. Just something to keep an eye on: our bank balance is moving in the wrong direction. This becomes a totally moot point if we start landing big grants, however.

Let’s take a look at March income and see how we’re doing on that end.

We brought in $7,569.77 in income in March 2019. That figure is way more concerning. It’s a drop by half from our peak, when we were pulling around $15,000 per month. What’s going on? Again, I don’t know. But it’s a huge warning sign that we didn’t bring in enough regular income to cover regular expenses in March. I haven’t looked at other months. Is the space empty? Why aren’t people making regular donations like they used to?

One thing that concerns me is that I don’t see any cash deposits at any point this year. Are we not getting cash donations lately or are those deposits not making it to the bank? Are they just piling up somewhere?

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To benchmark, I added up income from January 2019. We had $13,008.05. A big chunk of that was a Benevity transfer of $4,070.72. If we’re being conservative and assuming that $2,000 of that transfer was seasonal (end-of-year donations), we have $10,937.33 in January. That’s still a big drop from our peak, but significantly above March.

None of these observations are coming with any conclusions. We should just be aware that regular small donations have dropped below survival level and we’re now tapping our cash savings to pay basic expenses, not just to invest in the future.

Since a major financial goal for Noisebridge is to pay its basic expenses through small donations rather than big grants, there should be some effort to identify why small donations have collapsed and try to address that, in tandem with big-money fundraising.

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Thank you for the update! We haven’t had a cash deposit in a while and I don’t have the keys or codes to access the lockboxes. The folks I’ve asked (Lady Red, r, Trent) either have no access or access to one box.

At some point perhaps we should cut those locks and start fresh with a new set that multiple people doing bank deposits are able to access. The difficult lock will be sewing area’s box since it’s an internal tumbler (as pictured).

The cash donations are a decent flow of income, so we should see our expense coverage catch up a bit once those deposits are made.

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Yikes.

I can volunteer to make cash deposits. I guess we may need an account number? And the official name for noisebridge on the bank account?
Please direct message me that info if need be. I will go on Tuesday and report back here with the amount.
I am sort of skeptical there will be $7,000 in cash though maybe I will be proved wrong…

Does anyone know what happened to the keys?

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@pemulis Would you be willing to paste over your analysis to the finances wiki?
https://www.noisebridge.net/wiki/Finances

Is there a more updated version somewhere?

The treasurer role has been filled by two people in recent years. @gaardn do you have a buddy in this or have someone in mind you’ll ask to help?

Additional help is always appreciated! From the start I haven’t been able to do bank deposits, which fortunately other folks were handling until recently. @Paul_H it would be fantastic if you’d be up for handling the deposits! You just need to bring the cash to Wells Fargo on 16th & Mission and ask them to deposit it in Noisebridge’s account. Thank you!

Evan is handling all the heavy lifting like our taxes, balance sheets, P&L, etc. I sent him an email this morning to get an update.

Sounds good! Nice to know we are well known by the bank. I guess there is only one account with the name Noisebridge anyway.

If it has been several months, do we want to consider breaking the locks? The fundraising meetup is on Tuesday, are you going to be around?

I will ask around on Tuesday to see if anyone knows where the keys are… otherwise, ask if anyone can pick the locks, or just gather as much cash as I can from the slot…

Hey Paul,

Nicole already has the codes for the locks, if she isn’t able to provide you w the info, just message me here. Thanks.

Ratikate

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Hey Katherine, again, the one code I had is for a lock that no longer exists. If you have codes and keys to Noisebridge’s donation lockboxes, now would be the time to share them with me.

Yeah, @robbintt and I agreed if we don’t have access we’ll cut the locks and install new ones that multiple people can access to make cash deposits. His code was also for a lock that no longer exists.

Great. I messaged Katherine for any codes or keys.
Otherwise I will wait for you guys to cut locks and just deposit what I can tomorrow, unless you instruct otherwise… it is a hacker space! :wink:

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I’d like to note that I do not feel that this is accurate.

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It is indeed inaccurate now! Thank you for your message! :yum:

R had me look for a message way back in November that has the front lockbox’s combo, which I’ve forwarded to @Paul_H via slack so he can take a look today.

Does anyone know the combo to the acrylic top lockbox?

Yeah, that front box had keys to the box on the fridge and the box in the sewing room.

Though the key for the box in the sewing room was labelled for the 3d printers.

There is no box in the 3d printing area that I can find.

Tyler was able to open the box in the shop.

So now we have access to:

  1. Box by the door
  2. Box on the fridge
  3. Box in the sewing room
  4. Box in the woodshop

We cannot open the 3d printing room box that just has a master lock on it.

I would say we have $1000-$2000 just from an eyeball estimate. But Tyler and I will count and organize the cash before deposit…

The acrylic box appears to have a lot of cash. Maybe $1000? Would be nice to get that code. We may try pick it…

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Update. Tyler was able to open the wooden (acrylic top) box removing the screws in the wood shop.

Currently looks like about $900 in cash at best

So the total was $810. Wells Fargo did not take the coins unless they are rolled.

They can either be rolled at the fundraising meeting, otherwise hackers are thinking of a solution.

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Heh heh. Thanks to Jay and Nolsky for counting and rolling like 7 lbs of coins!
Thanks to Tyler and Charles for helping gather all the cash! :slight_smile:

I mean, looks like $1000 total in cash, so I guess we aught to revisit the topic and find out what is causing the drop in revenue? :fuckinglookatthisrainbowsheep:

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