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Ot: Rainy Day Fund

Discussion in 'GENERAL DISCUSSIONS' started by Nels, Dec 26, 2016.

  1. Nels

    Nels United States Founder Staff Member H-M Supporter-Premium

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    I wish I'd thought of this, but I can't take the credit for it. Davidh actually thought of this.

    It's obvious to us that sometimes bad things happen to good people. They need our help. We have to start sending them money when we find out. It might be a good or bad time for us.

    What if we established a rainy day fund that we could draw from to help people ?
     
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  2. David S

    David S Canada Active User H-M Supporter-Premium

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    Nels It was Me David S. However I am willing and ready to contribute.

    I hope that others here will look at this and see if they can contribute just a bit for others.

    Please make it easy to contribute. I prefer Pay pal, but what ever works for others would be good.

    Going into 2017 I hope that this fund would make sense.

    David S
     
  3. savarin

    savarin Active User H-M Supporter-Premium

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    I think this is a very good idea and if we are logical about it then $5 from every member would be a gigantic pot to start with that could potentially help a lot of people.
    The arguments would then come when its disbursed, how much , to whom? do I know them? and so forth.
    Then theres the administration of said fund, What sort of costs would it attract? taxes? etc. etc.
    Then unfortunately theres the old adage of "You cant please everybody"
    Still worth looking into with some answers though.
     
  4. David S

    David S Canada Active User H-M Supporter-Premium

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    Savarin brings up some good considerations.

    After we all review them, and then think about all the good we could do for those less fortunate than some of us, do we think there is a way to set up a "donation plate" that could be held here in order to help our colleagues here that may need temporary assistance to get back on their feet before they qualify for long term assistance, or just simply recover and get on with it.

    As always is there a way to let the positives over come the negatives?

    Happy New Year

    David
     
  5. Nels

    Nels United States Founder Staff Member H-M Supporter-Premium

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    David,

    As usual, I have to check into the legalities. I also need to find out how we can set it up so that the members are assured the money only goes to the truly needy, without insulting those needing help. Since it's members money, maybe a vote. I don't know. There are options too. I never got the site store going. Maybe donate the store's proceeds to a person in need. You get a tee shirt or cap and help someone. Maybe donate 50% of premium memberships sold. I am just thinking aloud.
     
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  6. David S

    David S Canada Active User H-M Supporter-Premium

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    Thanks for getting back Nelson,

    I know that this is not easy. But it seems to me that when our colleagues that have contributed to this site, have encountered some hard times, it would be nice to be of assistance.

    I just wanted to bump this back up to see if there is a way to try and help. For sure it has to be done legally and doesn't cause any issues with this site.

    Perhaps other members can chime in to offer suggestions.. both for or against..

    David
     
  7. Nels

    Nels United States Founder Staff Member H-M Supporter-Premium

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    A 501c3 can only donate to other charities, ie 501c3s. But a fund set up with members money is different .
     
  8. TakeDeadAim

    TakeDeadAim H-M Supporter - Premium Content H-M Supporter-Premium

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    This sounds like a great idea, I wish I had some clue as to how it would need to be done. Keep us informed, I certainly would help out if we can get it set up.
     
  9. tq60

    tq60 United States Active Member Active Member

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    Check with your bank as they usually setup accounts for things like this quite often.

    Sent from my SAMSUNG-SGH-I337Z using Tapatalk
     
  10. David S

    David S Canada Active User H-M Supporter-Premium

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    Given all of the valuable information and assistance that our members here are willing to share with others, it is my hope that we could come up with a common fund to help those that fall into hard times for 2017

    As is often the case, what we simply think is a good thing, can in practice cause complications. It is my sincere hope that in 2017 our moderators and founders can come up with something that would be appropriate within the guidelines of a 501c3 charity.

    All the best,

    David
     
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  11. bfd

    bfd United States H-M Supporter - Premium Content H-M Supporter-Premium

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    ok I m in whats the details bill
     
  12. olcopper

    olcopper H-M Supporter - Premium Content H-M Supporter-Premium

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    I really like the idea of a"rainy day fund", we have had several members over the past year that need something like this to get them over their current situation----and I agree, $5.00 or $5.00 per month isn't going to hurt anyone financially, but it sure can help someone who needs it.
    With something like a vote of 10 members on the decision of yes or no wouldn't have to fall on Nels or any single person to decide to assist someone or not.
    Some details need to be worked out, but we need to keep it as simple as possible.
    olcopper
     
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  13. David S

    David S Canada Active User H-M Supporter-Premium

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    In my mind this is a great example of how it would be good to sit around a table and have an open pros and cons discussion. While there have been instances here where I felt I must assist, I can see that there should be some sort of high bar. And by that I mean that the Hobby Machinist simply isn't a benevolent society, but rather some way to help those who have given so much to this forum, but have fallen into short term hard times.

    Thoughts anyone?

    David
     
  14. newbydave

    newbydave United States H-M Supporter - Premium Content H-M Supporter-Premium

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    Although I agree and I have given to those in need I believe it should be on an individual basis. Let each member determine to give or not. Eliminates a lot of extra work for those running this forum and also questions about where the money goes.
     
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  15. Nels

    Nels United States Founder Staff Member H-M Supporter-Premium

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    I think what we should do is this.

    On this thread, which I will make sticky, when someone needs help, we announce it.
    YOU decide to give or not.

    How does that sound?
     
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  16. David S

    David S Canada Active User H-M Supporter-Premium

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    Nels, while I agree that is a possible solution, sort of what we have already done.

    My preference is to be more pro active, and have something in the kitty ready to go. Personally there are times when I can afford to give when nothing else needs my charity and wouldn't mind making a donation. But sometimes when someone here needs help it may coincide with a situation that I am not able to contribute due to other priorities.

    It is not easy, and I understand that there are all sorts of complications. Perhaps there is someone here that can suggest a workable alternate solution.

    All I know is that I would like to be able to help here during times when I am able.

    David
     
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