awesomecooperlove · 2 years ago
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🥷🏻🥷🏻🥷🏻
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alwaysbewoke · 8 months ago
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blueskittlesart · 6 months ago
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ttpd has plenty of bad lines but personally i don't think shes getting enough hate for "like you were a poet trapped inside the body of a finance guy"
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fiercynn · 1 year ago
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on otw's $2.5 million budget surplus: for fuck's sake do something with our money
the recent ddos attack on ao3 illustrated that the otw (@transformativeworks) has amazing volunteers who were able to get things up and running again after a cyberattack. and i’ve seen a bunch of different people urging others to donate to otw in light of the attack.
the problem? not only are the volunteers not going to get any of the money, but the otw likely isn’t going to do anything else with it, because they already have more than $2.5 million in budget surplus that they have not been transparent about with their members, and that they have no plans for.
yup. we’ve known for years that otw had at least $1 million in their “reserves”; they’ve said so at their last two public finance meetings in 2021 and 2022. but a few months ago, @manogirl and i went digging a little deeper because we suspected that there was even more. 
and we were right. from the documentation available, our estimate is that at the beginning of 2023, they had $2,585,841 that was not dedicated to any purpose. this does not include money they had budgeted to spend in 2023 on regular expenses. just extra. (keep reading to see how we got that figure.)
equally appalling? they have all this money and are barely earning any interest on it. satsuma on dreamwidth looked at their 2021 tax returns and found that only ~$10k of their money is held in an interest-bearing savings account, which resulted in them earning only $90 in interest income for 2021. the rest of it is not in interest-bearing accounts. it is just sitting there.
looking at all the crises and dysfunction that have been discussed and uncovered over the past few months - racist harassment and the three-year-old promise to hire a diversity consultant; the mistreatment of volunteers by the otw board both related to last year’s CSEM attacks, and, separately, mistreatment and racism towards chinese and chinese diaspora volunteers both in the past and recently with the closure of the otw’s weibo account; and of course, this latest ddos attack - all of this indicates that there is severe dysfunction within the org. and donors throwing more money at the organization clearly isn’t helping.
the otw board needs to get its shit together and hire people to help with these things. this is not a new idea - there’s been talk for years about hiring paid staff, and in fact, at their july 2021 board meeting, otw said they would be appointing a volunteer who would be known as the “paid staff officer”, to come up with a plan for hiring paid staff. (to be clear, the “paid staff officer” would be an unpaid volunteer.) it’s been two years since that commitment. they have not, to my knowledge, appointed that officer yet.
it’s infuriating, because otw’s “scrappiness” as an organization is constantly used to defend their obstruction of action on things like racism, and this ddos attack will be used to further that agenda as well. but otw doesn’t need to be scrappy. they are well-resourced and could be using that money to set up more sustainable systems, instead of burning out and mistreating their volunteers, and reneging on commitments to address racism and harassment.
at the very least, if they’re not going to do anything with their massive budget surplus, they should stop taking more of people’s money. but we’d rather they did something useful with it.
if you want to see this change, the otw finance commitee holds a public meeting where you can ask questions and give them feedback. last year it was in mid-october. you do not have to be an otw member to attend. i'll definitely be making noise about it once the date is announced, but you can also follow otw's socials.
one brief aside: at the time of posting, a lot of these links are not working because the otw's website is still down. i copied these links from a twitter thread i made in the past and they should all be correct, so you just may have to wait until the site is back up to look at them.
now, to debunk some common excuses that people (not otw representatives, mind you, but just people on the internet who have decided to defend the org) give when confronted with how much money otw has:
MYTH: otw needs to keep $2.5 million in cash reserves in case of an emergency or unexpected revenue shortfall. REALITY: it’s true that nonprofits do need SOME cash reserves for those cases. typical practice is to have 3-6 months’ worth of operating expenses. otw’s current operating expenses are ~$520,000/year, so 6 months would be $260,000. (and, in fact, when i was told by an otw finance committee member that they had $1 million, they were intending 25% of that to be for emergencies, around $250,000). if you were being REALLY cautious, you could have reserves up to one to two years. but $2.5 million is enough for almost FIVE YEARS OF OPERATING EXPENSES. that is an absurd amount to be hoarding, especially when otw’s history of fundraising is that they always exceed their goals, and always make more money in donations than they need for their expenses within a given year. MYTH: they need this money for legal costs if they get sued. REALITY: otw gets most of their legal expenses donated, which is also not listed in their budget, but is in their audited financial statements. in 2021, the most recent financial statement we have, you can see on page 10 that they received just over $230k in donated legal expenses. they do budget some minor legal expenses yearly: in 2023 they’ve budgeted a little over $5k for “registration fees for conferences and hearings and funds set aside for legal filings if necessary, as well as an allocated share of newly adopted OTW-wide productivity tools”. however they do not have a history of even spending that much: in 2022, they had budgeted $4k for legal expenses and only spent $244 (see cell C29 of the budget spreadsheet). they have never been sued, and they do not appear to budget for litigation costs. and when, in the past, they’ve been asked about what their reserves are for (back in fall 2022 when the finance committee told me they had $1 million in reserves, even though this was patently false given their tax documents for 2021), litigation costs were not brought up.  MYTH: they just haven’t had enough time to figure out investment options. REALITY: they clearly have at least one savings account set up to generate interest, which only has $10k in it. even if they haven’t figured out a full investment portfolio, why wouldn’t they put more money in that account? in the u.s., the federal deposit insurance corporation (FDIC) insures bank accounts up to $250,000, so they should have at least that much in there. absurd. also, they have had plenty of time even for a larger portfolio. if you search “investment” on their site, you’ll see that they’ve been talking for YEARS about investing their reserves. more specifically, at both their 2021 and 2022 finance meetings, they said that they needed more time to research investment options. as usual, they have had far more time than they need.  MYTH: they need this money for new servers. REALITY: otw does in fact include expenses for new servers and server maintenance in their yearly budget reports. you can see this in their 2023 budget spreadsheet if you go to the sheet “program expenses” - under “archive of our own”, you’ll see server expenses. the $2.5 million is money that is EXTRA to their listed expenses and revenue in that spreadsheet.
finally, see below where we’ve given more context on otw’s budgeting and showed our work in coming up with these numbers.
showing our work
firstly, i should note for the record that i sent a message to the otw finance committee through the contact us form on the otw website on may 11, 2023 to ask them to state the amount in their reserves.
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it has been two months and i have still not received a response (which i find funny, because at the last otw board meeting in early july, the board specifically said to use that form to contact the finance commitee if we had questions about the 2023 budget), so @manogirl and i were forced to do our own math. we've had this work checked by a number of people, but of course we were only able to work with the information the otw has made publicly available.
a few things you need to know about the otw’s budgeting:
they release yearly budget reports on their website (here’s their most recent one, which shows what they project for 2023 and their “actuals” for 2022), but they do not include their surplus in this report - they only include the revenue and expenses for each year
they also provide both their yearly audited financial statements and their yearly tax returns (form 990s) on their reports & governing documents page, but currently, the most recent statements we have are from 2021
otw typically raises more money in donations than they need within a year, so their surplus is always growing 
they have used the term “reserves” in the past to talk about money, but we don’t know exactly what they mean by “reserves” - is there a dedicated account that they consider their reserves?
because of these uncertainties, the goal for @manogirl and i was was to figure out how much of a budget surplus OTW had at the beginning of 2023, and because we don’t know how they define “reserves”, we defined it as how much they had in liquid assets that were not being dedicated for a specific purpose in their budget. (liquid assets are anything that can be converted into cash quickly – e.g. not equipment like their servers, nor anything that would be held in a long-term investment account, etc)
the first document we looked at was their 2021 audited financial statement. the key number is on page 11, under the section on liquidity, where it lists their end-of-year liquid assets as $2,315,841.
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so at the end of 2021, they had over $2.3 million in liquid assets.
but since their 2022 audited financial statement isn’t up, we had to turn to their 2023 budget, and specifically, to their 2023 budget spreadsheet, where they show the “actuals” (what they actually raised & spent in each line item) for 2022 in column C. as i mentioned, they don’t list their reserves in this spreadsheet - only the revenue generated & expenses paid within that year, not anything carrying over from the previous year unless clearly outlined.
so at the bottom you’ll see that their net income (revenue minus expenses) in 2022 was $493,564.94, and that they then transferred $400,000 of that to the reserves sometime in 2022.
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and the remaining $93,564.94, their adjusted net income for 2022, presumably carries over to help pay initial expenses in 2023 before they started earning more revenue. they also transferred $130,000 of their reserves BACK to help with that at the start of 2023.
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so now we have the numbers we need to calculate the surplus (including reserves) at the start of 2023:
$2,315,841 (liquid assets at end of 2021) + $400,000 (transferred to reserve in 2022) - $130,000 (transferred from reserve in 2023) = $2,585,841 USD at the start of 2023
so that’s our math. otw had $2.5 million at the beginning of this year in surplus, in addition to around $223k (last year’s $93.5k in income and the $130k they transferred back from the reserves at the beginning 2023) to fund their expenses for the first half of this year. this does not even include the hundreds of thousands they raised in april 2023 during their fundraising drive.
okay the main part of our documentation is done, but if you want to read a little bit more about what @manogirl and i learned from doing this deep dive, here are a few additional thoughts/nuggets:
first of all, OTW is incorporated in the u.s. state of delaware, which is interesting because as @manogirl researched, delaware is a tax haven where 501c3 nonprofits don’t have to pay any business tax. plus, in many u.s. states, nonprofits have a limit on the amount of money they can keep without spending, but this too is not the case in delaware. of course, incorporating in delaware to take advantage of those benefits is not illegal! but it is very savvy, a characteristic that seems to have not continued with their financial management past their original incorporation lol
next, some more detail on their finances from their 2023 budget spreadsheet. let’s start with revenue.
the most interesting thing to me here is that while their spring and fall membership drive donations bring in the most, non-drive donations are also substantial. also their ��total unrestricted net revenue received” is $975,638.36 in cell C16. however, for some reason, when they calculate their net income for the year, they use cell 12, “total unrestricted revenue” ($1,012,543.42) instead. the difference between those two cells is that cell 12 is the amount before their transaction fees are subtracted. but i have no idea why the transaction fees would be ignored when calculating their net income. is this an error?
next, their expenses, which came out to $518,978.48. not too much surprised me here except how low their legal advocacy spending still is, plus  the fact that they’d given francesca coppa a grant for her book on the history of fanvidding, lol. (i’ve written more about this; so has wistfuljane on dreamwidth if you scroll down a bit from here).
it’s also interesting to look at what they’ve budgeted (both the revenue & expenses they’ve expected going into the year) for 2022. in every revenue category, they have exceeded their goal, except for $50 in “other income”. and in most of their expenses categories they have overestimated their needs, except for going over about $700 in the transformative works & cultures, & about $500 for development. this just shows how much they are able to meet their yearly expenses (overestimated) with the revenue generated each year (underestimated), & still have substantial amounts left over (almost half of revenue transferred to reserves)
so that’s what we’ve found. if anyone else notices weird things in their budgeting, please let us know!
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bitchesgetriches · 7 months ago
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Check out today's NEW POST! I read 3 whole books for this one and the research took me weeks. It was a lot of work and I require your validation! So read it at the link above. Here's an excerpt:
Credit Scoring Is a Racist, Classist System that Has Us All Trapped
You can’t build a solid house on a cracked foundation. The house of credit scoring was built upon a foundation of institutionalized racism. Its cornerstones are slavery and Jim Crow. And a white person owns it because the mortgage lender denied a Black person’s application.
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tearsofrefugees · 3 months ago
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darnellclayton · 11 months ago
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X (Formally Twitter) Users Reveal Ad Share Revenues Are Down
So TechCrunch was right on the money (literally) that ad spending was massively down on X (formally Twitter) as users who are apart of the Ad Share Revenue program (where you can earn money based upon traffic to your posts) are disappointed by the latest payment. Not much we can do if advertisers boycott or reduce spend on our platform— Elon Musk (@elonmusk) November 24, 2023 Just got my Ad Rev…
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immaculatasknight · 10 months ago
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Is the sky blue? Is grass green? Is Britain an apartheid apologist?
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footieridiculosity · 1 year ago
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nerianasims · 2 years ago
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“I had to do everything I could to protect my family.” -- Harry
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jayeltontoro · 25 days ago
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One Year of Genocide
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starsincline · 3 months ago
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giving out starbucks giftcards as racial harmony day prizes is actually crazy you all should kill yourselves
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bitchesgetriches · 4 months ago
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Credit Scoring Is a Racist, Classist System that Has Us All Trapped
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reportwire · 2 years ago
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Hundreds of newspapers drop 'Dilbert' comic strip after racist tirade from creator Scott Adams | CNN Business
New York CNN  —  Newspapers across the country dropped the “Dilbert” comic strip over the weekend after the creator of the satirical cartoon went on a racist tirade, calling Black Americans a “hate group” and suggesting that White people should “get the hell away” from them. The USA Today Network, which operates hundreds of newspapers, said it had pulled the plug on the long-running comic…
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lunesalsol · 2 years ago
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strangesmallbard · 9 months ago
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hey so. i’ve seen many people reblogging some variation of “israel spent millions on a superbowl ad to distract everyone from the airstrikes on rafah” and decided to do some fact-checking. the ad was produced by the kraft foundation to stop jewish hate, founded by robert kraft, who owns the patriots. kraft also partnered with dr. clarence b. jones—who advised dr. martin king luther jr and helped him write the i have a dream speech—to create this ad. according to tara levine, the fcas president, this ad was made in response to rising antisemitism on social media platforms, which her team tracks.
here’s a link to the foundation’s about page on their website. their mission statement solely focuses on combatting antisemitism and does not mention i/p or the ongoing war. the ad itself does not mention i/p or the ongoing war. it’s pretty ironic, and yet not surprising, that an ad created to stop antisemitism is currently the eye of the antisemitic storm on social media. if you sincerely believe netanyahu secretly funded this ad campaign to “distract everyone” from the idf’s airstrike attack in rafa, then you have bought into two different antisemitic conspiracy theories: that jews control the media and that diasporic jews have dual loyalty to israel. while political zionists have used accusations of antisemitism to invalidate pro-palestinian efforts, that’s not what’s happening here. all this information is obtainable via google. please learn to fact check yourselves before posting. thanks!
(bonus: here’s a 20-minute video where kraft and dr. jones discuss the civil rights movement, anti-black racism, antisemitism, and the history of solidarity between black and jewish activists during the civil rights movement.)
EDIT 2/23/24:
after publishing this post, i researched robert kraft and fcas' funding source and pro-israel efforts more deeply, then analyzed my findings in a reblog, which you can read here. tl;dr version - in 2019, kraft was given the genesis prize, a $1 million dollar award. the awarding foundation has direct ties to the israeli government. kraft used part of these funds to finance fcas. this additional information does not negate my original post, however; i can't find any conclusive evidence that the israeli government directly funded kraft's superbowl ad. there is also no evidence that kraft is targeting anti-israel sentiment in the ad rather than antisemitism overall. assuming this connection is still evidence of antisemitic conspiratorial thought, as i detail above.
i'm including this information because i believe it's important to acknolwedge wider context. i don't share kraft's politics re: israel and believe his stance compromises his foundation's overall messaging. i also condemn any efforts to silence pro-palestinian efforts with accusations of antisemitism, but that is still not what's happening here. i also want to clarify that i'm only discussing responses i've seen to kraft's ad, not the ads produced by the israeli government. thanks again!
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