This is were we document how the financial structure works for Memphis HackClub

What is Memphis HackClub
Finances
How-Merch-Sales-Work

Memphis Hackclub is a hackclub for Memphis Tennesee and the surrounding area. We are a group of students who love coding and making, and new students are always welcome to join. This github page is for members to make changes to our website. The purpose/future purposes of our website is to convince new people to join, inform new people how to join, and to show off the acomplishments of our members.

Memphis HackClub is non-profit backed organization, meaning we have a bank account with Hack Club Bank. Hack Club Bank handles our accounting in exchange fot 7% of all donations. Donating to Memphis HackClub is tax deductable. All of our transactions are open for anyone to view on money.memphishack.com. You can donate to Memphis Hackclub on donate.memphishack.com. Donations are tax deductable; merch sales are not tax deductable.

Because Hack Club bank currently does not have functionality to integrate an online payment system from our website to our bank account, we use paypal. The PayPal is under Philip Pounds (co-leader, and co-founder Memphis HackClub) and all merch production costs of merch are paid out of this account. All profits are paid directly into the Memphis HackClub Bank account. Philip Pounds nor anyone else in HackClub are paid any money from this PayPal account.

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