Time: 7:00pm ET Location: Zoom Attendees: Joe Kim, David Choi, Harold Morales, Joe Stilin
- Voting for Board Members
- Members and Policy Document
- Harold has all Federal tax returns for 2015 - 2021.
- Approximate Net operating per year:
- 2015: ($60k)
- 2016: ($40k)
- 2017: ($10k)
- 2018: $2k
- 2019: ($13k)
- 2020: $1k
- 2021: $15k
- We are currently making about $2k of profit per month, and on track to make more per month.
- Side note: September 2022 has been the most canceling members ever. We are at 93 members.
- Harold estimates it will take about 18 months to get $100k in the bank at current conditions.
- While rent will be $6500 next year, we could currently afford $8k rent if we needed to.
- CPA fees will be $3500 for these seven years (before a discount is applied)
- For Federal we owe nothing.
- For State taxes if we filed as a local Charity, we would be liable for no State Taxes.
- If we filed as a for-profit we would be liable for $1,127 for State taxes. We will have to pay late fees as well.
- We will file taxes as a Not-For-Profit for NYS.
- We're blocked on State - we need a local tax attorney with not-for-profit experience.
[VOTE TO FILE 2015 - 2021 FEDERAL TAXES USING CPA]
- Outcome: APPROVED
Voting for Board Members
- Full board is not present. We need to discuss and amend Bylaws before we vote a new Board in.
Members and Policy Document
- We need a new document with FULL run down of all rules at the lab.
- Includes an enforcement policy (strikes?)
- Goal: Change the parts of the Bylaws around nominating for and voting for Board Members ASAP
- Plan: After open house on Wednesday 9/21, meet and discuss new changes
- Edit for two weeks, with a mid-term meeting on 9/28 after open house
- Vote new Bylaws in on Wednesday 10/5
- Plan for a vote of new Board Members 10/10/2022
- Wednesday September 21, 2022