Re:We are teen hackers from around the world who code together
by mikeyouse on Friday January 10, 2025 @09:27AM
(#42655808)
501c3 nonprofits can ‘fiscally sponsor’ projects that are too small for their own nonprofit but still need all the same legal/accounting/finance support. Some of that $6M in their checking account will ‘belong’ to the projects they are sponsoring. Basically like a nonprofit incubator.
Re:We are teen hackers from around the world who code together
by rhysmp on Friday January 10, 2025 @11:32AM
(#42657146)
I work at Hack Club on our fiscal sponsorship team and wanted to clarify something: each fiscally sponsored organization has its own account, with funds stored and represented separately on the HCB platform.
You can check out some of these nonprofits and their transparent finances at this link: https://hackclub.com/fiscal-sponsorship/directory/
Re:We are teen hackers from around the world who code together
by zachlatta on Friday January 10, 2025 @09:51AM
(#42656052)
Founder here. Donations are the vast majority of Hack Club's revenue and make it possible and free for teenagers. Donate here: https://hackclub.com/philanthropy/
We also make a very small amount of revenue through the fiscal sponsorship program the other commenter mentioned: https://hackclub.com/fiscal-sponsorship/
Re:We are teen hackers from around the world who code together
by radioblahaj on Friday January 10, 2025 @10:16AM
(#42656315)
Hack Club is also 100% transparent, and you can see all of our spending here: https://hcb.hackclub.com/hq
The front-page talks about giving away "Get free Raspberry Pis, Framework Laptops, iPads, and more."
Oh they do have transparency on it. I was confused about the "fiscal sponsorship" tab since it appears also to be a product they are selling at 7% of income.
They appear to do well with nearly $6 million USD(?) in their "checking account) Good for them.