Once there is a valuation and there has been investment, founders should be collecting close to full salary (maybe 75-85%) because to take less means they are e

Once there is a valuation and there has been investment, founders should be collecting close to full salary (maybe 75-85%) because to take less means they are effectively putting money into the business and should be getting more equity, but that can dicey because it dilutes investors. $500k can't support 4 people for 12 months (in NY or CA) unless the founders have personal savings to use. You have to include travel expenses, a "cushion" in event of unexpected growth, and expenses incurred in getting the next round of funding.