Miami for Everyone 2022

Hack Club Bank SOP

Things for consideration:

Income -
Who are your sponsors? How much are they paying and by when?
Generate Invoice on Hack Club Bank or Connect with Melanie for payments using USDC.
Payments can be made via: Credit Card or Wire Transfer / ACH. Funds are typically available 2-5 days after payment.

Expenditure -
Payment Types supported by Hack Club:
Wire Transfers (Same Day) - Costs $30
Venmo (Occasionally card doesn’t work because of Stripe)
PayPal (Must submit a payment request)

Cash Flow -
(GOOD PRACTICE) → See NOtes/ to-do
Legal -
To do:
Send an email to Venture Miami team with clear expectations around banking.
Hi Everyone!
Miami Hack Week is happy to support the Miami For Everyone Hackathon by allowing you to be on our fiscal sponsored account with The Hack Foundation. We will create a restricted fund account on Hack Club that will allow you to access all Hack Club services (including your own cards for payments).
From my understanding this event is being thrown by Venture Miami to help bring locals together to build solutions around career and talent in the ecosystem.
As a fiscally sponsored entity we are required to provide receipts for all transactions. Please upload all receipts directly into the Hack Club platform using the invoice attach feature.
Other things to note:
All deposits to our Hack Club project will attract a 7% charge that is paid to Hack Club for administering the fund.
MHW will not enter into any agreements on or behalf of this event. You can direct your sponsors to Hack Club for payment and money will be received

I know you wouldn’t expect us to - but want to be super clear that Miami Hack Week will not be responsible for any money owed to vendors.

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