With Community Chest, we’re putting 50% of all event proceeds right into the community, to be used by Organizers to support initiatives that help local entrepreneurs. Organizing teams will be able to decide on the use of funds at the time of their event financial wrap-up.
We work closely with Community Leaders to help identify opportunities to use Community Chest funds in super effective ways. In every case, the funds are used to support local events, projects, or initiatives that support the local entrepreneurial community.
The organizing team decides how to spend the funds based on what they think the community needs. This could be anything from a follow-up happy hour to supporting a developing startup community on the other side of the world.
Most organizers use their funds in one of three ways:
- Sponsor a local event for your local entrepreneurial community
- Support a global or local Summit
- Support one of our Global Initiatives
Using the Community Chest is easy. After all event finances are closed, your organizing team will receive an email listing the available Community Chest balance and provide instructions for how to spend your funds. Here are the points to keep in mind.
- 50% of the revenue is put in a fund for the Organizing team to use (after the event). Once the event-level finances are closed, your team will receive an email stating the available Community Chest balance. We’ll work work with your team to provide funding suggestions and make sure you have everything set up to use funds easily.
- You need to use your funds within 6 months of your event date. Unfortunately, stagnant funds become a liability if they are left unused and can create problems for our financial systems. More importantly though, we want to encourage organizers to actually use their funds! If your team does not specify a use, the funds will expire (expired funds are used to cover global expenses).
- It should be a collective decision amongst your team to decide how you spend your Community Chest. Since putting on the event is a team effort, delegating your funds should be, too.
- Community Chest balances are accounted for separately for each event. Your team will not have access to past funds from different organizing groups (unless they give their consent).
The remainder of the event revenue is reinvested in Startup Weekend to support the program globally. These funds specifically enable our team to:
- Build tools to support community leaders around the world (like SWOOP, invoicing tools, etc.)
- Provide event level support to organizers through Regional Managers
- Fund and plan Regional and Global Summits
- Grow our program on a global scale