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June 2023 financial update for lemmy.ca (lemmy.ca)
submitted 3 years ago by [M] to c/main@lemmy.ca
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This is a little late, but I figure that it's better late than never!

For full transparency, I'm just going to give a high level overview of the financial situation of lemmy.ca through June 2023, when I started to accept donations.

Total Expenses: $30.00

This includes all hosting fees, including backups, etc.

Total Contributions: $1,503.03

  • $1,184.84 through LiberaPay
  • $318.19 through OpenCollective

All contribution amounts are not including payment processor and/or OpenCollective fees.

Remaining Balance: $1,473.03

I plan on transferring the remaining balance to the new admin team, whenever they are ready to accept it.

Thank you to all that have contributed so far, I couldn't have gotten the instance to where it is now without your generosity. I'm very excited to see what comes next and look forward to watching the instance grow more!

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[–] 1 point 3 years ago (1 child)

The current funds are enough to operate it at it's current capacity for ~11 months. Once we get to accepting donations again and figure out how to set up our accounting, I would definitely like to see a growing contingency reserve fund built up to be ready for future unexpected growth or unexpected slowdown in donations.

We will continue to be transparent in a similar format to this but split the remaining balance in a operating fund and reserve fund.

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  • [–] 0 points 3 years ago* (1 child)

    You probably want to encourage subscribing for a (low) monthly donations in order to have a continuous, predictable baseline.

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  • [–] 0 points 3 years ago (1 child)

    That's the plan!

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  • [–] 0 points 3 years ago (1 child)

    Can I make a suggestion? I would like to contribute but I can't afford a lot and frankly I'm a little embarrassed about how little I can afford. idk if your plans involve any sort of flair for people who contribute, but if it does, can you ensure there is a minimal amount people can contribute, that still gets their flair but doesn't say they are cheap/poor? Thanks.

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  • [–] 1 point 3 years ago*

    IMO, if you can't afford it, don't do it. What we really need is the ones of us who can afford a few bucks a month to actually give it. We should be able to get enough without having people who can't afford it to have to pick this over more basic needs.

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