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I run a nonprofit and we have a policy that we only accept unrestricted funds to allow us to operate at maximum efficiency and impact. There is a large and not
by zachlatta 6y ago
I run a nonprofit and we have a policy that we only accept unrestricted funds to allow us to operate at maximum efficiency and impact. There is a large and not often talked about principle agent problem that restricted donations create, in addition to the additional overhead.
We make our finances 100% transparent so the people we serve, donors, and the public can hold us accountable. Our open finances are at https://bank.hackclub.com/hq/ https://bank.hackclub.com/hq/.
Main homepage at https://hackclub.com https://hackclub.com / open source at https://github.com/hackclub/hackclub https://github.com/hackclub/hackclub
- saul_goodman 6y agoThis is a great way to go when you have a very narrow scope as it seems you have here (well done btw). The downside for groups with wider scopes is turning away money if the donor isn't comfortable with this. Even a hackerspace may have this problem. A donor may wish to sponsor some improvements to the metal shop, but if they don't restrict the donation for the metal shop, then some delay occurs, new board is elected, etc, then suddenly those funds get lost in the shuffle and money gets spent on the wood shop instead. It does keep a non-profit honest, but unfortunately yea it comes with overhead of tracking the funds and ensuring they get routed correctly.
- illsorted 6y agoJust want to say that Hackclub is an awesome idea. Nice work!