Financial Obligation of Projects
Each project within The Society must generate sufficient revenue to cover all of its expenses and must not spend or commit more funds than it has on hand.
- Projects are required to cover all employment costs for project staff, including MERCs, benefits, and any employment-related costs associated with layoffs (e.g., termination or severance).
- Projects must fully cover the amounts of all vendor contracts.
- Each project is responsible for its share of insurance costs. MakeWay maintains a comprehensive insurance policy covering all activities across the organization; a proportional amount is calculated and the expense is allocated to projects each month.
- Legal costs that may arise in connection with carrying out project work. However, the decision to obtain legal advice rests with MakeWay.
- Projects must contribute the minimum annual overhead of $12,000.