Hi,
I found that the talk Shawn linked[1] to didn't address many of my questions. Since I couldn't attend the conference, I'm raising them here. Please note that these questions are not criticisms of the foundation or any of its trustees. They are simply checks and balances inquiries, as I couldn't find information addressing these concerns. While talk is cheap, written communication provides clarity ;)
Firstly, has the foundation established an agreement with the Board to act as a financial vehicle for the project? Is there a Memorandum of Understanding (MoU) that the Board members or the Chairman have signed, confirming that the Geekos Foundation can and should fulfill this role? Actually, I don't recall that it actually being a decision that was
The foundation has been active for over a year, yet we haven't seen much information from the Board recognizing the Geekos Foundation as the official foundation of the project. Why is that? If the foundation is indeed recognized as the official foundation for the project, this should be communicated clearly by the Board. As above. But please bear in mind that it is not like there was anything else to choose from, so it became the de-facto choice. Additionally, where can we find the annual reports of the foundation? Even if the foundation hasn't managed any funds since it was established, a report should still be released, as I believe - but could be wrong - this is required by law. Yes, correct, the annual report is required by law and is about to be
Hi Attila... I'm speaking from the point of view of a community member and obviously a Geeko Foundation trustee (and founder), rather than being a board member. On 08/07/2024 03:50, Attila Pinter wrote: formally made. Perhaps it should be, however, but practically speaking, I'm not sure if it would carry any weight - because without the foundation there would be no sponsorship, because there is literally nowhere for the money to go to. That would have led to $0.00 being collected these past 16 months. published (stipulated by law to be lodged by November this year, but thank you for the reminder to ask the accountant about its status!). I'm all for visibility of the finances - but raising the funds is the number one priority at the moment.
Is there a document that clearly defines the roles and boundaries of the foundation? At the current moment, the founding document can be found here:
https://find-and-update.company-information.service.gov.uk/company/14662457/... Note that that information was snapshot at the time of founding; all documents can be found here: https://find-and-update.company-information.service.gov.uk/company/14662457/... For a rough guide as to what the current type of organisation Geeko actually is: https://en.wikipedia.org/wiki/Company_limited_by_guarantee Also - we are in the process of becoming a charity, which will require even more transparency.
For example, can it fund development requested by a sponsor, or can it cease funding projects similarly? Who decides where the funds go? Are these voted upon by the trustees?
For the most part, our funds are distributed to service travel support requests. Currently we are still drawing up guidelines around that* (let alone anything else!). As it is is still early days, a lot is still yet to be done. * and ways to automate the process of application, granting and subsequent payment.
Lastly, I noticed that Patrick holds 75% of the voting power[2] in the foundation. Is there a reason for this, whether legal or otherwise?
Honestly - I was not aware of that, as there are three trustees, and it was my /assumption /that control would be divided amongst them equally. I'll get back to all of you on this. There is a lot of information about, I think there were three talks that touched on the foundation topic at this years OSc. Feel free to ask any further questions. /p
-- Br, A.
1:https://media.ccc.de/v/4091-everything-you-wanted-to-know-about-geekos-but-d... 2:https://find-and-update.company-information.service.gov.uk/company/14662457/...
-- <br/> <b>Patrick Fitzgerald</b> <h3>i-Layer Limited</h3> <hr/> All Support queries to:isupport@i-layer.com