[Foundation-l] Bounties and expenses

Tue Jun 22 07:48:44 UTC 2004

In a message dated 6/22/2004 2:33:09 AM Eastern Standard Time, 
delirium at hackish.org writes:
Erik Moeller wrote:

>Face-to-face meetings are much more productive than IRC simply because  
>real human interaction has a much higher bandwidth than letters in a  
>window on a computer screen. 
I completely agree with this. In fact, I will suggest that a breakdown of how 
the money we have will be used is probably very important at this stage. I 
suggest something along the following lines:

60% --- servers and hardware
20% --- bounties for software development (let's face it, there are certain 
things we need, and we can't just wait for people to develop them)
10% --- incrementals, to include this board meeting and other outstanding 
expenses, for instance, as people begin to fill positions, they should be issued 
with business cards so that they can meet with others professionally. This is 
especially important for fundraising purposes. You have to invest money if you 
want to make money. This will also cover postage, letterhead, and, of course, 
board meetings. Of course, this should also be limited to a set portion of 
the budget and not exceed that. It can also be used for salaries for lawyers, 
accountant, etc. if the need be. 
10% --- Emergency use. This should be locked in a high-interest account at 
three-month intervals. It can serve as a back-up reserve just in case. The sum 
should be augmented regularly, but the interest would be split between the 
various projects. 

This is only a preliminary sketch of how money might be allocated. While it 
prioritizes hardware, it recognizes that there are other expenses that should 
be covered if we are to grow. 

Assuming we have about $25,000, it should cover start-up costs. 

I also want to pledge to donate a certain amount each month, provided an 
arrangement can be made to take it directly from my bank account at regular i
ntervals. I hope others will be willing to do the same. This sum can be part of the 
steady income that we will also require. Fund-raising drives are great, but 
we also need to know that every month a certain amount is coming in dependably.

Danny
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