Minutes:01 Jan 2024 Financial Planning
Meeting begins: 1930
Meeting ends: 2200
Meeting attendees: Nate Y., Joe D., James K.
- Quickbooks progress:
- Everything is going great so far. Reports are getting made more consistently.
- Joe has developed a monthly report for Members' Meetings.
- Grants:
- Creative Washtenaw grant acquired.
- Let members know that we are looking to hire help to write grants. No responses yet.
- 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.
- Budget notes:
- Move money to another bank/credit union? Interest rate is abysmal
- James said he'd ask a financial advisor about it
- Loans coming due in the next several months
- James: we should pay this back slowly since we have a great rate
- 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).
- Move money to another bank/credit union? Interest rate is abysmal
- Action items:
- Add donation button for 3d printer filament? - Nate will implement button/QR code (Venmo)
- 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
- Separate/out of scope from this meeting, but good topics to discuss later:
- Ideas on how to spend our $25k loan (ongoing)