Open Collective

Synopsis

Open Collective is a legal and financial toolbox for grassroots groups. It’s a fundraising + legal status + money management platform for various types of communities such as mutual aid groups, community initiative, open source projects, and informal groups of people who want to join together for a project.

Target Audience

Everyone who has the needs of fundraising money, budgets and manage funds in order to start or run a project, and as well create a fiscal and legal entity to connect with pubic or private investors.

Goals

Fiscal hosting
Operating under the umbrella of an established legal entity avoiding creating your own. A Host can take care of accounting, taxes, banking, and non-profit status.

Shared account
Manage your budget together. Transparency builds trust and accountability, and no individual has to take on all the responsibility.

Powerful money tools
Pay expenses, receive donations, manage grants, sell event tickets, get a virtual card linked to your balance.

Skills developed

Economical awareness and project managing skills
Raising knowhow of alternative and lateral business models

Why is it a good practice in the digital area?

In most cases it’s difficult for a non-constituted group of people to raise and manage budgets for the project they aim to realize. The tool provides legal identity and managing features that help the tasks in a transparent, collaborative and efficient way, giving the chance to fulfill and make projects and initiatives happen.

Training team

1 or more people involved

Duration proposed

Depends on magnitude and time extent of projects.

Promoting Organization

OPEN COLLECTIVE

Starting Year

2016

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