Meeting Notes 2008 02 07

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[edit] Actions Items

  • Rachel, Andy, Matt
    • DBA of Mitch, Rachel, Jake, Matt
    • Bank or credit union
    • Deposit $221
    • Paypal

[edit] Notes

  • Club owner JWZ has blogged his lessons learned on filing with the state/business paperwork
  • Jake is willing to start LLC with a few trusted people
  • California has $900/yr fee for an LLC or business, initial $400
  • Security deposit is likely to be 3x first months rent, need to raise money
  • We should talk to Gunner account non-profit
  • Keep looking for a space since we have people
  • If you have friends, ask them if they know of spaces
  • People see value in putting a bank account
  • LLC and non-profit is about the same effort in terms of filing the papers
  • Mitch has $221, he's the treasure
  • Jake to talk to Armory owners, possible trade of community classes for reduced rent/free
  • Sliding scale with minimum
  • 501c3 is good for tax-write off for donations, but the paperwork aspect is high
  • do we want to decouple the space vs. membership fee
  • Corporate, state and federal status is needed, all 3 for true non-profit
    • Likely $3k for fees and lawyer time to do this
  • Do we need to re-do contracts/name colusion so we dont have to redo insurance, landlord contract, other paperwork
  • We expenses already.. web hosting, VoIP, etc.
  • Business cards
  • Suggestion not to advertise to more people, will take time to revisit all decisions
    • Not closing off, but not recruiting
  • Have a fundraising party
  • Need a mechanism to pick the best consistent day, either software, Excel or manual somehow
  • Open biz account ASAP, under DBA of noisebridge with >3 people on the account, do we need a EIN
  • Open US Bank account or credit union (Redwood Credit Union), whatever is free on monthly fees
  • Setup a paypal account, see what the limit is for input of funds max per month, ~3% they take off
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