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June 2023 financial update for lemmy.ca (lemmy.ca)

submitted 11 months ago by smorks@lemmy.ca 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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[–] festus@lemmy.ca 6 points 11 months ago (1 children)

I believe that if someone sets up a recurring donation on LiberaPay it encourages them to basically merge together payments to cut down on processing fees (so instead of $5 per month, maybe $20 per 4 months). Are the amounts listed adjusted to be actually monthly, or is some of it for future months that just arrived early in which case we should expect a drop-off next month?

[–] TruckBC@lemmy.ca 2 points 11 months ago

There will be a huge drop off to drop as part of the transition process to the new admin team we have paused donations at this time.

We're on the fence if we want to accept further donations before registering as a not-for-profit to avoid any of the funds having to run through my personal bank account.