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Revision of May Advisory Board Call 2012.05.23 from Wed, 2012-05-23 17:51

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May Advisory Board Call 2012.05.23

Attendees:
  • Willow Brugh
  • Ella Saitta
  • James Carlson
  • Diggz
  • Josh Furman
  • Mark Headd
  • Nick S
 
Agenda:
  • We'll be doing the 6-month prototype run of GWOB Acceleration,  starting at June's RHoK. There are mentors lined up, and a good flow of  how to engage participants. We'll be asking for hopefulls to submit a  5-minute video to us by June 10th, and to have decided on our 3 invitees  and 1 back-up by June 20th. You'll need to set aside a chunk of time  between the 10th and 15th to review the videos on your own, and then  we'll do a group call to discuss sometime between the 15th and 18th. The  detailing document has been shared with each of the advisors, please  provide feedback there.
  • We're officially a sustainability partner  with Random Hacks of Kindness. We're also working closely with Benetech  to compliment and support each other.
  • Details of Knight Grant
  • What platform are people submitting video on? What can we use it for, who owns it, etc? Or third party (yt, vimeo, etc). Creative Commons, Non Derivative, Attribution, Share Alike. Josh and Willow will work on this. Google form for submission?
  • Where we've been looking for funding, and what we've been saying - Yahoo!, Innovation Endeavors, AT&T, crowd funding
  • Sustainability for each of the participating teams. Bunch went into global judging. Also had public voting - People's Choice. Panel of judges including SMEs, VCs, etc got together to pull out top five. The party was really cool - themed drinks, food, prizes, etc.
  • IE might be into doing the same for GWOB teams - mentorship packages. Way to identify talent. Need prodding from us. Nick and Willow will work on this.
  • The legal future - should we go for our own 501c3? It seems wise for the long run.
  • Do the receipt distribution. Takes 10%. Need to pay auditing and accounting firm for maintaining the 501c3. 
  • What is our administrative overhead for this kind of stuff, what is direct cost for doing it ourselves? What is the point for when it's better to cover ourselves? Time investment of board members, maintaining accounting practice. Quarterly reports, annual audit $2500. $800 to $1200 to get the 501c3. 500-7500 in having and tracking 501c3. Come back and look in 3-5 months to see if we need to renegotiate or keep it.
  • Might be worth filing now, the older these things are the more real they become, and more fundraising potential they have. 
  • Tax deduction happens through SF. If donator doesn't care, just to GWOB. If we want to make it frictionless, would need to have own 501c3. In interum, what is tax status of GWOB? Still has to report income, be accountable to tax income status. There will be tax to pay, filings to be done. Get through 2012 with regular taxes, figure out after.
  • GWOB is responsible for WA taxes, operating expenses of business. 501c3 only applies to people donating money with need of tax exemption. Not sponsorship.
  • Tool to explain fiscal sponsorship - James will take care of this.
  • Josh will get in touch with Tax Attorneys in WA. 
  • Participation in the SpaceApps Challenge, and upcoming with HOPE
  • 2600 Magazine conference called Hackers On Planet Earth about GWOB. How would we like to present ourselves? Lots of exposure. Go with something simple, broad vision. Imperative message for everyone, compassionate, get engaged with cause, defined ways to do so. 
  • crowd funding is crap at continued efforts. Diminishing returns. If we need something specific, get some startup cash. In general it won't be a good return on investment. Ella might know some people for grant writing.
  • James thinks grants and sponsors are the way to go. Form fewer relationships. Crowd funding ultimately means hundreds and hundreds of people.
  • Diggz: we continue to develop corporate sponsorship leads. Have a high level of confidence that one of these people will put in the necessary amount of money. Will take some time. Need to keep Willow paid, but nice to do that independently rather than hired by an outside org.
  • Josh: crowd sourcing doesn't really make sense at this juncture. Depending on candidate we're putting through, put them in touch with the particular project. Grant writer on their end to do that application process.
  • Donations welcome, but it's not to a specific thing, no accountability. Willow will take care of this.
 
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