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Receiving and Spending Money
So you've been approved. What next?
Once you apply to join Open Source Collective and receive our approval email, you can immediately start managing your collective on Open Collective.
Open Collective is the software platform Open Source Collective (OSC) uses with our hosted collectives to manage financial contributions and payments. Open Collective has a ton of features like transparent budgets, custom collective profiles, donation tiers, fundraising goals, and other tools now at your disposal.
Open Source Collective offers limited support for cryptocurrency donations. Due to the impracticalities of running a payments service at scale and fluctuations in various crypto markets, we do not hold crypto on behalf of our member projects. Instead, we will accept crypto, convert it to fiat (USD), and attribute the balance to member projects accordingly.
Open Source Collective does not have an 'outside money' policy. You are free to raise, manage, and spend crypto (and fiat contributions) separately from the money you raise, manage, and spend through Open Source Collective.
Our tax status and the terms of our fiscal sponsorship agreement state that funds can only be used to further the cause of the projects we accept.
We may flag a collective for review, and if we find a history of abuse around our expense policy, we will freeze the collective.
Expenses are processed and paid out by Open Source Collective twice per week (on Tuesdays and Thursdays).
If you have any issues with a specific expense, the best way to get an answer is to post a comment on that expense page.
Collective Admin Responsibilities Include:
Ensuring that expenses are unique. If a payee files multiple expenses for the same work, the admin must reject duplicate expenses so the host admin does not accidentally pay both.
Review the expenses to ensure they meet our guidelines and policy for payment.
Using different methods, you can use the funds from your collective’s budget to pay for expenses.
Open Source Collective provides virtual cards to Collectives on request. Virtual cards act like credit cards and allow you to pay for expenses online using your Collective's balance.
This is a great way to pay for recurring charges like domain hosting or any upcoming project expenses you don't want to cover with personal funds.
- Next, a member of OSC's team reviews and approves the expense. This is done to ensure the expense meets requirements, e.g., having a valid receipt.
- Reimbursements can not be used to pay contributors for work or labor spent on the project.
- Reimbursements are used to pay people (often volunteers) back when they have made purchases for the group.
- Receipts are required so that we can ensure the requested amount matches the purchased amount in order to approve the reimbursement.