How does Open Collective work?
Open Collective is an online money magement platform for open and transparent communities. Communities around the world use it to manage their money. Open Collective is completely open-source and designed by a network of people from around the world.
Many groups that use Open Collective don’t have bank accounts. Instead, they let another organization hold money for their projects. Through Open Collective, the group can ask this other organization - called a fiscal host - to pay the groups invoices or reimburse the expenses of the group members. On Open Collective, a group that has its own budget with a fiscal host is called a collective. Collectives can assign money to projects, which get their own page to keep track of expenses.
On Open Collective, we have created a fiscal host called , because the official name of the organization we are all members of is called Föreningen Gränslandet Österlen (long name, long story).
is a collective, and is its fiscal host. When to the Borderland collective, they must first be approved by . Once the expenses are approved by the collective, they can be .
The Borderland collective can also receive donations through Open Collective, which are then held by the fiscal host. People can donate directly to the collective, or choose to donate to a specific project. For example, if people want to increase the Dream Grant budget, they could donate directly to .
Of course, could let other collectives use its bank account. In fact, we recently did when organized fundraisers for the land project. With Open Collective, we could simply have created a collective for the land project and hosted it at . It would have made it very easy to know exactly how much money had been fundraised to the land project.
We could also imagine that large camps or ambitious art projects could start their own collectives that could also be hosted by the fiscal host. Spin-off events could even be collectives and completely circumvent the necessity to have their own associations and bank accounts. However, we must always stay aware that any money that is held on the bank account of Föreningen Gränslandet is owned by the association, not by the collective that is hosted. At any moment, the members of the association could legally decide to spend the money on something else through calling an AGM and making a budget decision. Likewise, any equipment that is bought through collectives hosted by Föreningen Gränslandet technically belongs to the association. Before approving new collectives to be hosted by we would need to discuss if that collective fit within the purpose of the association, and if we can offer to take on the administrative burden of reviewing and paying out expenses from the fiscal host.
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