Howdy Hakkers! The meeting with the Akron Business Accelerator Group is tonight so here is an in depth look of our finances. I realize that there are a lot of new people on the list with our most recent press in the ABJ so I will try to explain everything so everyone can understand. We want each one of our members to understand our financial situation. SYN/HAK runs on a policy of complete transparency so if I over explain things in this email I apologize in advance.
We have $3426.86 at the moment. Please keep in mind that I still need to pay for one more month of internet service at our current location. We have 17 paying members right now including 1 suspended membership, 11 Budding Nerds, 3 Serious Geeks, 1 Uebergeek, and 1 Benefactor. This means that we make a maximum of $905/mo and a minimum of $814.50/mo. Why do we have a minimum and maximum? Because we discount our members who pay for three or more months at a time by 10%. The maximum amount that we make is assuming no one takes advantage of that discount. The minimum is assuming every single member takes advantage of that discount. The truth of the matter is that about half of our member do this. Our board discussed before we moved into our current location what the budget should be. We, obviously, do not want to spend all of our money on rent, utilities, etc. We also need to be prepared for sudden drops in membership. The board decided that a minimum 20% buffer would suffice. This would make our current budget for rent, utilities, internet and all of that good stuff be $651.60. Right now, we spend $598.85/mo. Just to be clear, I figure out what we can afford based off of what we make minimum. I realize these are conservative estimates but I would rather make estimates that are on the low side than the high side. I don't want SYN/HAK to go bankrupt because I budgeted too much money for things like rent. The extra money that we end up making goes to things like safety equipment and other necessities for the space. If we did end up getting a place where we spend $650/mo we could lose up to 4 Budding Geek members and still stay in the black. Anymore, and I will be getting really nervous. If anyone has any other questions, please don't hesitate to reply to this email or get directly in contact with me. I will not be able to make it to the meeting tonight because I have to work but I will make sure to be checking my email obsessively so I can answer any questions in a timely fashion. You are also free to call or text me if it is very urgent. Thanks, Alexander Golightley treasu...@synhak.org
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