[LGM] finances

[Dave Crossland]

On 27 November 2017 at 18:01, Tobias Ellinghaus <houz at gmx.de> wrote:

> Am Montag, 27. November 2017, 16:41:01 CET schrieb Frank Trampe:
> > 19% is a rather hefty cut. I would be happy to volunteer some time to
> save
> > some money.
> >
> > Soenke, could we get a discount from K8 if we submit a final list
> ourselves?
>
> Quoting Soenke:
> > that is what overhead charges cover. For K8, it's 15 % f research-related
> > projects (national or EU funds commonly include overhead flats between 20
> > and 25 % per cent).
> >
> > The tax rate depends on whether we are talking donation (tax free, but
> also
> > no mention of donor allowed) or sponsoring (usually 19%).
>
> it seems the 19% are the share for the German government and nothing Soenke
> can give discounts on. Unless you want to see LGM in the next Panama Papers
>

Oh! I see, I mis-read Soenke's email! I read it was 15% _or_ 19%, but
actually she meant its a 15% charge for holding and administering the funds
and potentially a 19% EU VAT tax if it isn't a donation.

However, since this would be funds from the USA, there wouldn't be any VAT;
however the organization would have to provide the appropriate W8-BEN form
to prevent the IRS levying a 35% tax on the wire transfer.

15% is better than 19% :)

On 27 November 2017 at 17:55, Louis Desjardins <louis.desjardins at gmail.com>
 wrote:

> K8 will take a [15%] cut for handling everything.
>>
>
> SPI asks for 4%. To the best of my knowledge, GNOME was just about the
> same. As a comparison, 19% cut seems rather high.
>
>>
That's 4% for handling the money only, not adminstering it though, right?

That seems like the easiest solution and frees up Frank's volunteer time to
>> do other stuff (like maybe help arrange the video recordings/streaming to
>> be done using only libre software? :)
>>
>
> Dave, only to be sure I understand correctly what you say, do you mean
> that K8 could handle the money from Google to the extent of handling the
> reimbursements for 2018 (and then, maybe, follow up with 2019)?
>

Yes, I believe that is what Soenke said. Soenke, please confirm :)


> Do you evacuate totally SPI in that proposal?
>

Yes for this round of Google Fonts funding; no for future funds, and also
no for the general LGM pledgie/etc funds.

Would K8 be able to act as a SFH (secure funds holder)?
>

No, I believe that was not what Soenke offered. Again, please confirm :)


> I would still investigate with SPI if they would at least consider LGM to
> be a project member.
>

I agree, I would like to see that happen


> Their statement is clear on their website and they can handle what we
> can’t handle anymore, at a reasonable cost.
>

However, per http://spi-inc.org/projects/services they are merely a "Secure
Funds Holder," not an active administrator, which is what [I believe] K8
provides.


> Also, if the PO from Google can be submitted before 2017 ends,
>

Actually I need this sorted within 14 days from now, or its next year :)


> I see no accounting reasons that would prevent them to put the expanse in
> 2017 (provided their fiscal year ends on Dec. 31, which is not the case of
> all companies but only the case of all individuals).
>

(Except those individuals domiciled in the UK, who have an April 5th tax
year lol)


> If needed, I can make the first steps with SPI and keep you guys informed
> of how it goes. However I will not be the responsible person further than
> establishing the contact and maybe a few steps further. At some point,
> somebody else will have to step in. But this would at least require a
> formal decision (or the apparence of a formal decision) by the LGM
> community.
>

I think (a) that decision was already made and (b) Frank has already
stepped in :)


> Do we, or do we not, want to become member of SPI and have them handle our
> incoming money as well as our reimbursements (or other LGM expanses that
> fit into the SPI rules)?
>

I believe we do want LGM to become a member project of SPI, and have them
handle our incoming money generally, but (a) that has more set up time than
I have and (b) SPI doesn't actually administer the reimbursements, they
just have a single "project liason" who presents them with the bank details
and amounts to make the transfers to.


On 27 November 2017 at 17:42, Frank Trampe <frank.trampe at gmail.com> wrote:

> And what if I could get a 501(c)3 to handle just this event for us, with
> an agreement in place by December 11th? I think that I could cut a deal for
> 5% or less if I prepare the disbursement list.
>

Sure, that sounds more efficient.


On 27 November 2017 at 18:04, Joao S. O. Bueno <gwidion at gmail.com> wrote:

> WHat about the Prado Medialab, which hosted LGM Madrid?


I don't think its worth shaking things up further right now. I have Plan B,
K8, and Plan C, Frank's offer. Let's wait a few more days to see how these
pan out and then think about Plans D and E :)

-- 
Cheers
Dave
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