09/19/2022 Board Meeting: Difference between revisions
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(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...") |
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* Harold has all Federal tax returns for 2015 - 2021. |
* Harold has all Federal tax returns for 2015 - 2021. |
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* Approximate Net operating per year: |
* Approximate Net operating per year: |
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* 2015: |
* 2015: ($60k) |
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* 2016: |
* 2016: ($40k) |
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* 2017: |
* 2017: ($10k) |
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* 2018: $2k |
* 2018: $2k |
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* 2019: |
* 2019: ($13k) |
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* 2020: $1k |
* 2020: $1k |
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* 2021: $15k |
* 2021: $15k |
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===== Bylaws ===== |
===== Bylaws ===== |
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* Goal: Change the parts of the Bylaws around nominating for and voting for Board Members ASAP. |
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* Plan: After open house on Wednesday 9/21 meet and argue about new changes |
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* Edit for two weeks, with a mid-term meeting on 9/28 after open house |
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* Vote new Bylaws in on Wednesday 10/5 |
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* Then plan for a vote of new Board Members 10/10/2022 |
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===== Next Meeting ===== |
===== Next Meeting ===== |
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* 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