OMG Finances

[James Harr]

Hello *,

As part of my duties as treasurer, I'm going to start posting regular updates as to the financial state of the Omaha Maker Group. I'll be sending these emails out every quarter, but I'm going to try to update the page each month and post it on the bulletin board at the space.

Full report: http://tiny.cc/omg-finance-2012

The good: OMG is growing, membership dues are coming in fairly regularly now.

The bad: Since a year ago, our rent has gone up nearly 50%. We’re in fairly good financial shape right now, but that’s in large part due to a few members paying in big chunks (6 months at a time). It makes our bank account balance look good right now, but it's a bit deceiving since we won't be getting big chunks of cash for another few months.

Bottom line: We're good for now, but we need to grow.

If you're not a member, consider signing up.

- $15/mo is our basic membership.

- $35/mo is our key holder membership.

- $50/mo is for anyone who feels like giving a little bit extra to the group.

--
^[:wq^M

[Jason Uher]

I'm going to ride on James' email here to discuss something I've been
thinking about lately:

During the initial founding meetings when we talked about what OMG
should be about we decided on a fee structure that was basically "Keep
the lights on and let members do their own things". I was a huge
proponent of this structure and think it leads to a more diversely
equipped space full of equipment that people actually use. This has
the added benefit of encouraging creative people to stay on as members
solely for the social aspect, as they don't have to do a big cost
benefit trade off if they only show up once or twice a month to use
the saw for five minutes.

With that in mind it can become difficult to set the pricing for the
dues. Too little and you don't have a big enough cushion to ride out
low membership periods, too much and people have less to spend on hot
wire, cameras, and printers.

Now the crux of my email: I know that it sucks to pay dues, and $15 is
the set price, but you should be paying more if you use the space
regularly and can afford it.

Trust me - OMG members have it *awesome*. I've been in Boston and the
Baltimore/DC area for a few months now and was shocked at what other
places charge for membership. One nearby my Boston apartment charges
$100/$150 per month just for access - if you wanted to be trained on
any of the equipment (a requirement for use) you have to take a
$30-$50 class on each particular piece. The one closest to me now
also charges $150 and is comparably equipped to OMG, while the further
two charge $50 and $85 and are considerably less equipped.

I guess the point I'm trying to make is that you often don't know how
good you have it until it's gone, I will definitely be missing
$15/month dues.

[Nick Wertzberger]

It's this kind of stuff that makes me especially proud of this organization.The truth seems to be coming out that there is a world-class maker space in Omaha, NE, and it's thanks to all of you! And, as with most things in the midwest, rent's a little cheaper than on the coasts ;) ... For now!

[Marc M]

I am all up for paying the dues. Tonight will be my second time being
there. I will find a way to pay them. i know its not much. but with me
being unemployed and my wife is the only one working us with 3 little
ones.

It will happen.

Marc

[Eric Kaplan]

I looked into the Atlanta space for a long time, and was always turned off by their fee structure.  And since I have been involved with OMG, I have researched into and gotten feedback about other spaces around the country.  As Jason says below, OMG really is a bargain.  And it is an amazing place.  Someone once told me that he was not so much impressed with what he made at OMG, but how being at OMG made him look at things differently.  His personality evolved into a "Maker" simply by being a member of OMG.

Makes me think of this:  "Do what you can, with what you have, where you are. " (Theodore Roosevelt)

On Tue, Oct 2, 2012 at 10:00 AM, Jason Uher <jaso...@gmail.com> wrote:

--

Eric J. Kaplan                                       

• ekap...@gmail.com
• www.ejk00.smugmug.com

[Eric Kaplan]

Awesome!  Thank you, Marc!

[Marc M]

Your welcome Eric!
I have made donations too...lol to the Mame cabinet which I am sure
you are aware of..lol

[Eric Kaplan]

Yes - thank you for ALL of your support!  It's folks like you who keep us makin'...

[Marc M]

:-Þ

[Tyler Swain]

I plan on joining next week when I get paid, at the $35 level. I have been meaning to for over a month now but I have been traveling quite a bit, and working too much, so I haven't had a chance to pop in again since my first visit. I might stop by this evening for the presentation though, as the misses is working late, and the kids will be with their dad.

[patrick]

While I no longer live in Omaha. I don't plan on ever dropping my member ship fee. I love the makery life just isn't the same with out it. Good news though I was talking to some engineers at the test stand today and they are defiantly interested in starting a space at stenos they even pointed me to the people in charge to talk to about it. I'll keep you posted I was it to be a sibling of the OMG.

[Dave Thacker]

Ok, I've lurked long enough.   I just looked at my budget and decided that I can move some online gaming funds into creating and learning.   I'm signed up for an autopay.  I'm going to see how much I use the space in the next 6 months and then make a decision on continuing or increasing my membership.  

Dave

On Tue, Oct 2, 2012 at 12:21 AM, James Harr <james...@gmail.com> wrote:

[Eric Kaplan]

That's great!  I hope (and have a feeling) that you will more-than get your money's worth!

[Kevin Fusselman]

I think there's a slogan here, someplace...

"Omaha Maker Group: More fun than raiding the virtual castle"... Has a nice ring to it.

[Jeff Jensen]

OMG, a better investment than a bucket of BitCoins.

[Nick Wertzberger]

As a note, if you ever get 501c3 status, it opens the door to company matching donations from UP employees iirc.

[Eric Kaplan]

You are correct, Nick.

At this point, however, 501c3 might be more trouble than it is worth.  Being a 501c3 means we have a whole host of new accounting required of us, including annual budget, accountant-prepared and account-submitted tax returns, detailed donor tracking and receipts, and more.  It also means a hefty up-front filing fee, which we aren't quite ready to spend.

It is, however, on our radar for the future!

[Dave Thacker]

I'm surprised the rent went up twice in one year.   Are we on a short term lease?   Is the occupancy rate of the building picking up?

Dave Thacker

On Tue, Oct 2, 2012 at 12:21 AM, James Harr <james...@gmail.com> wrote:

[Kevin Fusselman]

We started with a promotional price, and got a tapered increase to "full price" over the 2nd year.

To answer both your other questions, "yes". We'll have been in the space 2 years in March, and were initially on a 1-year lease.  The building itself is becoming more utilized, as we were the only tenant downstairs in the beginning, now there's at least 3, if not 4. 

[Dave Thacker]

Ok,  good to know what the demand looks like.   

Dave Thacker

[patrick]

So who are the 3rd and forth tenants? Or do you mean all the storage in the back?

On Tuesday, October 2, 2012 12:22:19 AM UTC-5, James Harr wrote:

[Kevin Fusselman]

That and some people running around with a photoshoot or something back by the gas-service room.  I've only seen them just once or twice, though.

[tavshed]

Looks like you updated this through December 2012. Will you be using the same doc for 2013?

- Mike