Minutes:01 Jan 2024 Financial Planning: Difference between revisions

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*** Related: we should hire some kind of legal help, CPA and/or lawyer, to make sure we're doing things the correct way when paying people to help. Joe will have info at Members Meeting
*** Related: we should hire some kind of legal help, CPA and/or lawyer, to make sure we're doing things the correct way when paying people to help. Joe will have info at Members Meeting
** Let members know that we are looking to hire help to write grants. Sarah will work on Sustaining A2 together after being pinged by Nate. She will update at Members meetings and one time in between.
** Let members know that we are looking to hire help to write grants. Sarah will work on Sustaining A2 together after being pinged by Nate. She will update at Members meetings and one time in between.
** The search for other grants continues
** The search for other grants continues. Nate is keeping his ear to the ground
*** James has info on two grants.
**** Ann Arbor Area Community Foundation
**** other is A2 geeks. James will put feelers out
** Xander busy now, but we should not let that relationship fade
* Budget notes:
* Budget notes:
** Move money to another bank/credit union? Interest rate is abysmal
** Move money to another bank/credit union? Interest rate is abysmal
*** James said he'd ask a financial advisor about it
*** someone needs to compare rates and find options. Shop it around at members meeting. Credit union is recommended
** Loans coming due in the next several months
** Loans coming due in the next several months - before April. make payment decision after strategic planning
*** James: we should pay this back slowly since we have a great rate
** Digital ocean Money - what should we do with it. Discuss at members meeting
*** Can we move this money into another interest-bearing account? Presumably this can't be put into a vesting account due to the rules of the loan.
** James: We need to look into moving our server infrastructure to AWS
***
** James: Let's also pick over our other expenses to find ways to save (e.g. Nest).


* Action items:
* Action items:
** Add donation button for 3d printer filament? - Nate will implement button/QR code (Venmo)
** Future SEO/Adwords discussion: defer until after strategic planning
** Future SEO/Adwords discussion: we need to have a person who is interested in doing Adwords campaign stuff. When we have that person on-board, we can go ahead and get our non-profit account re-enabled. James will reach out to some potentially-interested people.
* New budget process
* New budget process
* Separate/out of scope from this meeting, but good topics to discuss later:
** Ideas on how to spend our $25k loan (ongoing)

Revision as of 20:25, 3 January 2024

Meeting begins: 1947

Meeting ends: 2200

Meeting attendees: Nate Y., Joe D., James K.

  • Quickbooks progress:
    • documentation needed. to do at work improvement day
  • Grants:
    • Creative Washtenaw grant acquired.
      • Special accounting needs to be implemented by members meeting by Joe.
      • Final report submitted
      • Related: we should hire some kind of legal help, CPA and/or lawyer, to make sure we're doing things the correct way when paying people to help. Joe will have info at Members Meeting
    • Let members know that we are looking to hire help to write grants. Sarah will work on Sustaining A2 together after being pinged by Nate. She will update at Members meetings and one time in between.
    • The search for other grants continues. Nate is keeping his ear to the ground
      • James has info on two grants.
        • Ann Arbor Area Community Foundation
        • other is A2 geeks. James will put feelers out
    • Xander busy now, but we should not let that relationship fade
  • Budget notes:
    • Move money to another bank/credit union? Interest rate is abysmal
      • someone needs to compare rates and find options. Shop it around at members meeting. Credit union is recommended
    • Loans coming due in the next several months - before April. make payment decision after strategic planning
    • Digital ocean Money - what should we do with it. Discuss at members meeting
  • Action items:
    • Future SEO/Adwords discussion: defer until after strategic planning
  • New budget process
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