April Update from OSC
Published on May 3, 2024 by Grace Powers
Hey there, OSC community! We hope your May is off to a great start. We're excited to share some important updates, news, and features with you, so let’s dive in!
💸 Bringing in funds from Patreon and Other Platforms (Trial Integration)
Are you looking to bring your project’s Patreon or another platform’s funds into your OSC balance? We’re excited to announce a trial run using dedicated bank sub accounts for collectives to use for incoming funds. This will be available to a small group of collectives to test out, so if you’re interested in participating, please reach out to us via [email protected].
📄 Need to Send an Invoice? We Can Help With That
If a company or institution wants to support your project but requires an invoice for their accounting, we can issue one on your collective’s behalf. For details on what information we need to generate an invoice, please visit Invoicing Companies and Institutions
❇️ Accepting Cryptocurrency Through Drips
If your project is receiving crypto donations through Drips, we may be able to help incorporate those funds into your OSC balance. Interested in starting this process? Reach out via email. In the meantime, learn more about how we helped one of the collectives in our community, Ratatui, accept crypto donations here: https://www.cryptopolitan.com/ratatui-receives-funding-from-radicle-to-advance-open-source-ui-development/
🔍 VAT Management
Although Open Source Collective supports open source projects and maintainers across the globe, our legal base is technically in California. As such, OSC does not possess a VAT number. When needed, we use the reverse charge mechanism to handle VAT responsibilities. An example of how this can be shared with your communities can be found in an event booking forum used by one of our community collectives, Mautic (Thanks for sharing this Ruth!):
“I acknowledge that tickets are subject to local tax laws if purchased outside of the US and that the purchaser will pay any tax due. Open Source Collective does not possess a VAT number as they are a California, US-based business. I understand I should use the reverse charge mechanism to account for VAT that would otherwise be due, as needed.”
If you have any questions about VAT, please reach out to us via email.
📊Introducing Accounting Categories
One of OSC's priorities in 2024 is improving our accounting practices and financial reporting capabilities. To help with this, we’ve rolled out new accounting categories that will appear on expenses. Our team will take care of labeling and you won’t need to take any action. These new categories allow us to provide a more detailed breakdown of how open source funds are used across our collectives.
Here are some of the categories you will see assigned to expenses.
Invoice Sub-categories: These are used to pay people directly for work and services done for the hosted project.
- Consultants - Other
- Administrative
- Support & Community Management
- General Consulting
- Legal & Professional Services
- Marketing, Design, & PR
- Maintenance and Development (this category is the majority of invoice expenses we see)
Reimbursement Sub-categories: used to pay back incurred out-of-pocket expenses that benefitted the hosted project.
- Collective Ops
- Donations & Sponsorships
- Travel
- Meals & Entertainment
- Office & Event Space
- Advertising & Marketing
- Hosting & Subscriptions
- Equipment & Hardware
- Contributions to Other Collectives
As always, we welcome your feedback on this new feature.
✨ Collective Highlights
OWD impact and transparency update for 2023
Open Web Docs has released their Impact and Transparency Report, which you can read here.
Looking for inspiration for your expense policies? Learn how WebdriverIO uses automation to streamline disbursements
Check out WebdriverIO’s post about their policy, specifically around how they use automation to authenticate fund disbursements. We found the following verification they’ve implemented an interesting option: ”Given that the email undergoes verification by GitHub and adheres to the foundation’s CLA process, there’s minimal concern about the authenticity of the individual submitting the expense claim, reducing the likelihood of dealing with an impostor.”
🧑💻AsyncAPI is hiring
AsyncAPI is looking for an enthusiastic and proactive Community Marketing Specialist to help grow their community. Interested in learning more? See the job listing here: https://github.com/orgs/asyncapi/discussions/1176
💰 Funding Opportunities
FOSS Sustainability Fund
The FOSS Sustainability Fund is open for applications until 17 May. This fund supports the long-term maintenance, security, and community of foss projects. Learn more about the fund and apply here: https://apply.opentech.fund/foss-sustainability-fund/
Digital Infrastructure Insights Fund
The 2024 Digital Infrastructure Insights Fund is currently accepting applications until 2 June. Individuals and groups based outside of the United States are especially encouraged to apply. Learn more about the fund and the types of projects they’re funding here: https://fordfoundation.forms.fm/2024-digital-infrastructure-insights-fund-rfp/forms/9861
Is there anything you’d like us to share in these updates? Send us any news or updates you'd like us to include in future monthly posts! Reach out via email or join the conversation on Slack at #opensource.
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larson reever
Posted on May 8, 2024