[Blabber] HM project funding vs interested persons contributions

Ben Solwitz notalamer at gmail.com
Thu Mar 15 19:02:04 EDT 2012


You can set the required amount really low on Kickstarter and people can
keep donating beyond it. The espresso machine started out with a
requirement of $20k and finished on Jan. 20 at $370k.

On Thu, Mar 15, 2012 at 4:57 PM, Guan Yang <guan at yang.dk> wrote:

> If we do adopt something like this, is there really a need to have the
> Kickstarter-like feature of people having to donate first, then get their
> money back if it's not funded?
>
> If there are only a few funders (example: 5 people pledging $100 each),
> they should be able to wait until all the necessary commitments are in,
> then just donate the (earmarked) money.
>
> If there are many funders donating a small amount of money each (example:
> 20 people pledging $10 each), I'd rather not have to do all the
> administrative work of keeping track of them all, then refunding lots of
> small amounts of money if the project is not funded.
>
> I would say it's only worth the hassle if you have a lot of people each
> giving a lot of money, e.g. 200 people pledging $500 each for a $100,000
> CNC mill.
>
> Or it happens so often that we can write custom software for it.
>
>
> On Thursday, March 15, 2012 at 16:49 , citybadger wrote:
>
> > I also think this needs to be discussed.
> >
> > On Fri, Mar 9, 2012 at 2:35 PM, Peter Shenkin <shenkin at gmail.com(mailto:
> shenkin at gmail.com)> wrote:
> > > Hi,
> > >
> > > It would be reasonable to pass bylaws allowing such projects to be
> officially sanctioned and to allow earmarked contributions (beyond dues) to
> be made toward them. I believe this would allow tax deductiblity. I could
> imagine something like: any member or group may propose a project with a
> guideline of a 20% initial contribution. Once approved, if the item does
> not get purchased within a year based on additional donations, the funds
> are returned to the donors.
> > >
> > > The real question is ownership; HackManhattan would have to own the
> item, once purchased. It's unclear to me whether this is the case for the
> mini-mill.
> > >
> > > -P.
> > >
> > >
> > > On Fri, Mar 9, 2012 at 2:19 PM, Guan Yang <guan at yang.dk (mailto:
> guan at yang.dk)> wrote:
> > > > I would just note that some projects are jointly funded. For example
> we decided that HM would buy some tooling for the mill (although we haven't
> actually reimbursed anyone for that yet). I could imagine that the same
> might end up being true for the bee hive.
> > > >
> > > >
> > > >
> > > > On Friday, March 9, 2012 at 14:15 , Sam Brown wrote:
> > > >
> > > > > So I have been thinking about the whole "interested sub groups"
> concept that has been brought up a couple of times and is currently being
> used to fund the mini mill and the bee hive.
> > > > >
> > > > > Meaning, HM funds did not pay for the mill or bee hive, the money
> is coming from individual contributions.
> > > > >
> > > > > I'm interested to hear everyone's thoughts on this kind of
> financing. Granted, HM is not cash abundant now, but there is a disparity
> (perceived or real) between those who have contributed to the mill and
> those who have not (I fall under the "have not contributed" category). Are
> there concerns from those who have contributed? Is there an expectation of
> more contributions to be made?
> > > > >
> > > > > I wanted to bring this up during the last member meeting but it
> was getting late.
> > > > >
> > > > >
> > > > > Thoughts?
> > > > >
> > > > >
> > > > >
> > > > > Thanks,
> > > > >
> > > > > --Sam Brown
> > > > >
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