09/19/2022 Board Meeting: Difference between revisions
Content deleted Content added
Created page with "'''Time: 7:00pm ET''' '''Location: Zoom''' '''Attendees: Joe Kim, David Choi, Harold Morales, Joe Stilin''' ===== Agenda ===== 1. Taxes 2. Voting for Board Members 3. Members and Policy Document 4. Bylaws ===== Taxes ===== * 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 tr..." |
No edit summary |
||
Line 11:
* Harold has all Federal tax returns for 2015 - 2021.
* Approximate Net operating per year:
* 2015:
* 2016:
* 2017:
* 2018: $2k
* 2019:
* 2020: $1k
* 2021: $15k
Line 40:
===== Bylaws =====
* 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 argue about 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
* Then plan for a vote of new Board Members 10/10/2022
===== Next Meeting =====
* Wednesday September 21, 2022
|
Revision as of 00:11, 20 September 2022
Time: 7:00pm ET Location: Zoom Attendees: Joe Kim, David Choi, Harold Morales, Joe Stilin
Agenda
1. Taxes 2. Voting for Board Members 3. Members and Policy Document 4. Bylaws
Taxes
- 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. Moving vote for Board members to next meeting.
Members and Policy Document
- We need a new document with FULL run down of all rules at the lab.
- Includes an enforcement policy (strikes?)
Bylaws
- 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 argue about 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
- Then plan for a vote of new Board Members 10/10/2022
Next Meeting
- Wednesday September 21, 2022