[foundation-board] Knight grant contract

Tue Dec 20 18:08:53 UTC 2011

On 19 December 2011 12:54, Martin Keegan <martin at no.ucant.org> wrote:
>
> On Tue, 13 Dec 2011, Jordan S Hatcher wrote:
>
>> > From the Word document attached to this email it now appears that we
>> > are receiving on £235,000, with $250,000 going to the Tides Center.
>> > What's happened?
>
>> If there is an intermediary such as the Tides Center, I'd expect them to get some sort of fee for administering the grant.  I take it this is it?
>
>> Just to clarify on the currency side, this is $235,000 USD out of
>> $250,000 AFAICT.
>
> Yes. They have managed to send documentation with two different figures.
> Regrettably, the lower is correct.
>
> I spoke to Tides directly after the board meeting on Tuesday, and they
> have got Knight to agree to a budget reflecting our overheads, which Jason
> calculates at 7% (the other lines items have basically been reduced by
> roughly the same proportion). This, and the fee mentioned above, entails a
> slightly shorter project, albeit one which draws less on OKF core
> resources.
>
> Please check the attached document for the details.

Getting in a line item for overheads at this late stage is a good
result - thanks, Martin.

The only comment I have is that note 4) on the budget seems
erroneous/misleading, as the budget does detail the project fee. But
this is not a deal breaker.

If you're seeking Board approval to progress with this budget, you have my +1.

Cheers

Becky