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June 2023 financial update for lemmy.ca (lemmy.ca)
submitted 3 years ago by [M] to c/main@lemmy.ca
10 comments fedilink hide all child comments
 

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!

all 10 comments

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[–] 1 point 3 years ago

Nice to still see you around. I guess the transition hasn't fully completed yet. At the current rate of expenses, it appears we have quite a healthy reserve.

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    [–] 1 point 3 years ago

    I see the .ca it this a Canadian instance? New to lemmy please be kind

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

    Maybe keep some in reserve to cover for future growth?

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

    $30 seems too cheap. Is this SelfHosted? If so your electricity bill and ISP subscription should add much more.

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  • [–] [S] 1 point 3 years ago

    tagging @CanadianCorhen@lemmy.ca too because they asked the same question essentially.

    the reason it was so cheap during June was that it used to be hosted on a VPS which i believe started with 4 CPU, and I kept upgrading it eventually to 8 CPU for the last few days. it then got migrated to a new dedicated server which is closer to around $150/month i believe.

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