The Open Collective team's Medium blog on funding open source projects, with case studies from Webpack, Babel, Preact, and others.
HN links it for open source funding stories; commenters discuss its fee model, which takes 10% plus card fees, and its growing contributions.
Open Collective | https://opencollective.com | New York City | ONSITE
Open Collective allows unincorporated communities (like Open Source projects, meetups, etc) to raise and spend money. You can charge membership fees, get donations from individuals or companies and spend it by filing expenses. The entire financial ledger is publicly viewable to ensure transparency. Some examples: opencollective.com/webpack, opencollective.com/babel, and many more opencollective.com/opensource.
We are a founding team of 3 (two engineers) and are looking to hire our first full-time engineer (https://medium.com/open-collective/open-collective-is-hiring...).
Send me a note at aseem@opencollective.com with your GitHub, LinkedIn, resume, etc.
Unsure whether they're using a different fee model for the "Fund" payments. But they're open about the fees for payments from individuals (each transaction on a collective's page shows the fee breakdown).
> Open Collective takes 10% + credit card fees (usually 3% + $0.30/transaction) [0]
A few concrete examples (dependent upon payment processor chosen)
For $1, a collective got ~$0.56
For $100, a collective got ~$86.60
I was getting very close to the inter-bank exchange rate for payouts.
[0] https://medium.com/open-collective/what-is-open-collective-how-it-works-c51bacc73d94#:~:text=Open%20Collective%20takes%2010%25%20%2B%20credit,admin%20of%20reimbursing%20their%20expenses.
They're working on that, contributions for C++ and Ruby have apparently already been received: https://medium.com/open-collective/open-collective-august-2018-newsletter-438db9761159#3c02