Guard FDN Finances

It‘s great to see that in short time this community has put forth its first GFP and passed it for action. We already have multiple other proposals on their way to ratification. These proposals have the potential to have a significant impact on the future of the project, both good and bad, and I feel that there is a large part of the puzzle missing in the current proposals. The point of this post is to bring up a topic that I feel is being mentioned indirectly in other discussions but needs to be formally, directly addressed. That topic is the financial specifics of the Guard FDN. The finances of the Guard FDN is a broad topic, and I am going to try to keep my initial post as short as possible. Where it goes from here is up to the community.

I have read through as much as I can find about all aspects of this ecosystem, but I found very little about the financials of the Guard FDN. Based on the comments I see on this Discourse, other people’s experiences are largely the same. What ultimately concerns me at the moment is that this community is making big decisions that affect its future while missing important information needed to make good decisions. Some specific points that are missing from general knowledge at the moment are:

  • The total current value of the Guard FDN treasury.
  • The sources of income for the Guard FDN treasury.
  • Actual past and expected future income gained from these sources of income.

With the above points as a starting point, we need to then assess the financial impact of each proposal both directly and indirectly. For example:

  • What is the expected direct cost of implementing the proposal?
  • What work specifically will be done, by who, and for what compensation?
  • What is the expected long term financial impact of the proposal? (This is obviously going to be very subjective for many proposals, but we should be doing our best to quantify this based on best assumptions.)

At the moment, finances have only indirectly been addressed in the proposal discussions. The unfortunate impression I get is that the foundation is currently moving forward as if there is an unlimited budget. This is obviously not the case. For the greater community, who ultimately decide what will be implemented and what will not, need the financial information to truly make informed and correct decisions.

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@pacbeachdr Thank you for the thoughtful and well articulated questions. We appreciate the quality engagement.

The Council will be holding a public call tomorrow (Office Hours Call) that includes going over the proposal process and some housekeeping items.

Your questions would be great to have as an Agenda item on an up coming call.

I will say that these are all valid points and all current and future proposals are/will be weighed against the financial impact on the treasury and Foundation.

Thanks again for bringing this up as a topic for discussion.

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@pacbeachdr Great questions. This will become more and more important as proposals start coming in that will request grants. The existing ideas and proposals in the queue have no significant cost or maintenance, but we are 100% in agreement with everything you mentioned, especially moving forward.

One thing to keep in mind is that the foundation is not a for profit foundation. That could change through governance, but as of right now, there are no profit centers.

The most important thing, when it comes to proposals, is that we are aligned with the Guard FDN mission and what we are trying to accomplish collectively. We will discuss this on the office hours call tomorrow.

Thank you for your patience and contribution.

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Not for profit isn’t the same as not for revenue…

All organizations, regardless of legal structure, must have revenue sources.

One of the largest “non profits” in the world is the NFL here in America…they for sure bring in the revenue.

Same goes for churches, etc…lots of revenue.

While I’m not an attorney, nor do I play one on TV, organizations are expected to generate revenue in order to survive and ultimately thrive.

A primary difference between an NPO and a for profit entity is where the net income (revenue - expenses) goes and how it is handled.

The GuardFDN should identify and create revenue sources (multiple) so it can fund grants, operational expesnes, etc

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These are some great points and valid concerns. During our office hours call, we will address what the mission is for Guard Foundation so it’s more clear what it is we ultimately want to accomplish collectively.

And keep in mind that there are plenty of partnerships and collaborations that will be built on the Guard Foundation that will require little or no funds from the treasury. I just want to address the misconception that a large amount of the treasury will be used for every proposal that comes through. As @Staywolfish mentioned, we will visit a lot of these questions on a future office hours call as they are valid and should be addressed.

Always appreciate your thoughts and insight @RealJasonAnsley

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As far as I can tell, the discussion regarding finances started and ended with this short post. Has there been any further discussion regarding Guard FDN finances during special council calls or office hours calls? Has there been any progress towards making the Guard FDN financial state/reality public information or at least available to Guard holders? What can/needs to be done to make progress on this topic?

I’m working on a proposal which will create “working groups” (decentralized leadership over specific areas of a business / organization).

One of the proposed working groups will be a treasury working group; wherein the responsibility will be to track and publish reports as well as ensure revenue streams exist so that the foundation’s treasury can thrive.

Another example of a working group would be a secretary or recorder. A function of this group would be to provide summaries of the “calls” and otherwise assit with orgnaization reporting to the community members.

I’ve got ideas for a few more working groups…just putting pen to paper here today.

But I agree…too much time elapses without updates on things thus far…and the foundation as a functioning body (not specifically the SC…they are but one aspect of the foundation) is currently stagnant…so there needs to be some leadership.

I’m drafting that structure now…

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