Hi everyone.... Boson from Baltimore's Velocipede bike project here.
we're in the midst of calculating our taxes (for the first time........) and we do have an accountant who is graciously helping us out for next to nothing.
anyways, he asked about how much profit we make and we got a little caught off guard; besides the random part/bike we sell (for peanuts) we really don't make profit. We are entirely volunteer-run, so we don't need to pay wages. Our landlord is letting us use the place for a song, so beyond utilities and some non-recyclable parts (ie: brake cables) we don't really have much "costs"
as for profits: While we do sell some used parts and bikes (of which we def. have records of) the primary way our bikes leave the shop is via the build-a-bike program. A volunteer gives us 3 hrs, and we give them a bike/frame in need of work. they then spend time at the shop fixing it. no money is exchanged.
The accountant, not accustomed to this sort of "business" suggest that we consider coming up with something to represent the volunteer hours people give to enroll in the build-a-bike program, after all, they do get a bike out of it.
I wanna ask the other collectives out there, how do you handle this?