- 1 Meeting Notes for 10/16/2012
- 1.1 The Dessau Property
- 1.2 The Laser, Replicator, Et Al
- 1.3 Unobtanium
- 1.4 TechShop
- 1.5 BUDGET
- 1.5.1 Billed vs. Paid Amounts
- 1.5.2 Member Goal Status
- 1.5.3 Location Financial Considerations
- 1.5.4 Monthly Income
- 1.5.5 One Time Expenses
- 1.5.6 Balances
- 1.5.7 Funds
- 1.5.8 Profit / Loss
- 1.6 New Location Update ( Marshall / Martin )
- 1.7 Events! (Michelle)
- 1.8 Co-Op Update (Martin)
- 1.9 Internet Service Options (fundraising required!) (Marshall)
- 1.10 [VOTE REQUIRED] Pay to advertise in Unobtanium Souvenier Program ( Michelle : Link to Website)
- 1.11 [VOTE REQUIRED] Kick in $200 into the BlinkenBat fund, to cover a one-time setup fee if needed
Meeting Notes for 10/16/2012
The Dessau Property
Dessau Lease said No
- They thing there are too many of us; they were hoping for lower occupancy
- They were worried about conflicts with neighbors (potential disputes over parking, etc.)
- The owner hadn't been in on the conversation so when all the info gathered was presented to them, it's thought that he put the kibosh on it.
Live Oak has at least one person who wants to try again with the owner.
John, our broker, is ready to start looking for us again tomorrow
The Laser, Replicator, Et Al
The laser is up and working at Das Pfluger Haus.
- Please make sure to sign up on the laser calendar at least 2 hours before you come by.
- Michelle and Angie are laser sitting Monday through Saturday (with Sunday off) 10 AM to 8 PM (with consideration for meetings and events)
The Replicator has been upgraded and will be taken to the Das Pfluger Haus
Milly the CNC milling machine will possibly join the other equipment up there while we are homeless.
The Garage at Das Pfluger Haus is Insured!
The Garage is insured and is officially our location (for now).
We are covered for Unobtanium
TechShop has laid out a deal where all current ATXHS members can get annual memberships at 50% off, AND two free Choice Classes (anything under $100/ea). This actually makes getting ATXHS membership AND TechShop cheaper than TS alone.
The 5 minute version ( Martin )
Budget for 2012 Q4 Oct-Dec
This budget was amended during the Quarterly Board meeting for Q4.
tl;dr for October
Billed vs. Paid Amounts
$6295 billed, $5785 paid
Member Goal Status
We are 37 full-paying members short of our Q4 goal.
Location Financial Considerations
We were unable to secure Wall Street after three months of negotiation, and other locations that we are researching at the moment are more expensive. The current proposal is to go to a location on Dessau Rd. This space has a lease that costs $3228 Base + $1652 NNN
Subtracting the minimal buffer leaves $8731 in the General Fund for expenses related to moving into a new space ( 10-15-2012 )
The current member rates are as follows:
$55/mo are the Standard monthly hackerspace dues. This will rise to $75/mo in January. (Auto-paying members' rate will remain at $50/mo!) $55/mo for the first member, $30 for each other member on the Family/HouseHold rate $5/mo discount is applied if a member signs on for Automatic Payments and is paying the Standard rate The discount rises to $25 in January. $30/mo are the Reduced Rate hackerspace dues, which require a private petition to the Board $150/mo is the Standard rate for a Co-Working desk add-on $10/mo is the Standard rate for a 2'x3'x3' storage area add-on $50/mo is the Standard rate for a 4'x4'x4' pallet storage area add-on
Member Dues and Status
As of Oct 15th, we have billed $6295 of which $510 is owed. Members Gain/Loss Sept-Oct
We lost fifteen members We re-gained one member We have a net LOSS of 14 members from September
Although it was expected to have some loss due to the October Hiatus, this is VERY VERY BAD Member Report
We have 89 current members for the month of October
65 standard rate members ($50-55/mo) 19 reduced rate & family rate members ($30/mo) 5 sponsored members ($0/mo)
To meet our Q4 (Oct 1) budget goals, we need to have the equivalent of 135 standard rate members on the books.
We have added 7 Co-Working spaces at $150/mo, 6-month contract ( $1050 )
We are currently short of our goal by 37 standard dues paying members ( adjustment for people paying the Reduced rate ) Expenses
Monthly Operating Expenses while "'Spaceless"
Our monthly basic operating expenses while we're looking for a new space are $1650.
Our 3 month buffer is defined as "rent + insurance + utilities" which comes to $1300/mo and totals $3900.
We do not yet have an accurate estimate of monthly costs at a new location.
$400 ULS Laser Cutter lease, ongoing $200 Advertising fund $400 Uncle Bob's Storage $160 Bank Fees $150 Furnishings fund $120 insurance policy till Dec $65 Clear Wireless Internet $60 FreshBooks Invoicing $50 ADT security system $45 Authorize.net
$1650 Current Expenses Total
Estimated Future Expenses
For moving into a new location, with the minimum contracted obligations, it is estimated our expenses will be as follows. This means all funds would be frozen, until more income becomes available to add money to them, but we could continue to raise funds via the C-1 investment round shares.
~$550 Austin Energy Estimated $500 High Speed Internet Solution $400 Laser Cutter Lease $160 Bank Fees $130 Insurance Policy $130 Garbage and Recycling $125 12-month amortized ADT Pulse Security System ~$100 Water/Sewer Estimated $65 Clear Wireless Internet $70 FreshBooks Invoicing $50 ADT Security System Service Fee $45 Authorize.net
~$2325 Future Expenses Total
One Time Expenses
There are currently no one-time expenses for Oct.
Rental of a new property will create a one-time expense for the deposit and first month's rent.
We will have a one-time expense of $49 in November, to cover the insurance for Das Pflugerhaus
Our total balance assets at this time are $19398 ( 10-15-2012 )
$0 balance on the company credit card ( $2000 credit line ) $19,278 in our Bank of America account $0 in Donation Cash (all deposited in Sept) $120 in petty cash
The various funds we are saving have the following balances (against the total assets)
$3005 SawStop Fund (Funded) $1130 Tool Fund $1100 Furnishings $950 Advertising $582 BlinkenBat (Funded)
Profit / Loss
If we subtract the pre-allocated funds and expenses from the total available balance assets, we have $12631 left for the buffer.
Subtracting the buffer leaves $8731 in the General Fund for expenses related to moving into a new space. Co-Op and a new Investment Fund
With the conversion to an LLC Co-Op, we will be entering an investment phase. We need more money to:
Build our new 3 month buffer, which will be ~$22,000 Afford more than just a basic "shell" build-out of the new space. Purchase new chairs, desks, and furnishing above our $1100 budget Afford events, outreach, and more! Install a new machine shop, purchase better and more equipment Purchase HIGH SPEED INTERNET at the new space, like fiber, or high speed business cablemodem
We're looking to raise $30-50k. The way this will be done is through sales of series of non-voting stock in the new Co-Op (Series C).
New Location Update ( Marshall / Martin )
- We're now looking at other options and Dessau was low for per sq foot cost wise
- John has offered us a location on the other side of Rutherford.
- If you find a possible location, we need to get John on it so we have a consolidated effort
- If you have any previous leads funnel them to firstname.lastname@example.org
- Laser! (Martin)
- There's a Universal 12.150 (4 feet wide) it's a 150 watt laser in Huston. it needs to be inspected, it's not going to come up for sale in December. It's bigger and cheaper, We could get it for a lease of $300 per month. (It has air assist and a rotery attachment.) It's lease to own.
- Gardener will go down to Huston to inpect
Co-Op Update (Martin)
The new LLC Co-Op agreement has been finalized by our lawyers!
Martin has posted a layman's document of ~20 pages, as opposed to the legaleze document at 49 pages.
This is how we will operate as ATX Hackerspace in the future. Please educate yourself.
Internet Service Options (fundraising required!) (Marshall)
- Better and Stronger service agreements
- Dessau is actually kind of desolate because it's sparsely populated.
- Profit margins appear to be around 30%
- TWC isn't fun to work with apparently.
- Grande is nice, they built out in East Austin
- They will want money up front but their rates will likely be good.
- AT&T and other options are all pretty much the same
Marshall is looking for something that is not a T carrier if you have any contacts
- Expect it to be about $1000 per month
- If we could, find somebody who will go in with us for a point to point service. Like Ubiquity.
[VOTE REQUIRED] Pay to advertise in Unobtanium Souvenier Program ( Michelle : Link to Website)
$100 budgeted for an add in the program
- 1 no
- 1 abstain
- 24 yea
- 1 abstain
- 25 yea