Financial processor for DrupalCamp Colorado 2013

To pay our bills and accept payments for DrupalCamp Colorado 2013, we need to partner with someone to provide accounting/banking services. It’s ideal to do that with an existing non-profit who has gone through the onerous process of registering as a non-profit. As a group, we do not have the time, energy or interest to do this ourselves.

We have two options available to us that we’ve researched so far: using the Drupal Association or the Open Media Foundation. I am writing to gather feedback and gain consensus on which option we will pursue this year.

Both organizations would charge us 10% of the collected fees to cover the costs of their service. This seems to be the going rate. Both would provide ongoing reporting so we could quickly and easily determine the payment status of any individual or organization.

Both organizations would require us to agree to some terms and conditions:

• For the Drupal Association: https://docs.google.com/open?id=0B1c987feNlMkZ3NkY2JnYzJaY0k
• For the Open Media Foundation: http://openmediafoundation.org/fiscal-sponsorship

The Open Media Foundation has supported the Drupal community in many ways over the years including playing host to Drupal meetups in Denver and even hosting Drupalcamp in 2008. They would not discount their rate, but are interested in taking a sponsorship to offset the equivalent amount of the sponsorship.

We want to make a decision that keeps everyone happy, provides the best services at the best price and minimizes risk.

I propose going with the Open Media Foundation for the 2013 camp. We would like to make a decision by January. Greg and I have discussed keeping some of our cash balance with each organization, diversifying our risk in the unlikely event that either organization ceases to exist. So, we would then identify how much money we need to have for deposits or up-front payments and move those funds in January to keep all transactions in 2013.

Thoughts? Questions?