GIMPS current finances

[Prime95]

Our bank balance: ~$5000

Our current run rate:

• ISP: $150 / month
• bank fees: $15 / month ($0 if bal. over $7500)

Total: $2000 / yr. or 2 1/2 years cushion if no prime found, just 1 year if a new prime is found!

Consequently, the Board made the following changes to the Mersenne Research Discovery Award:

• $100 now, $2900 later (if and when GIMPS claims the $150,000 EFF award for discovery of a 100,000,000 digit prime)
• The Board has the option of paying the $3000 award in cash if it feels there is sufficient cash on hand.

The Board also voted to make its first concerted effort at fundraising.

[lukerichards]

I can offer fundraising advice or support. I used to do it professionally and quite successfully for a political party. I certainly secured enough regular recurring monthly income in one mailshot to cover twice your monthly costs.

Somebody PM me if interested.

[Prime95]

Thanks to the fundraiser we can now avoid that nasty $15/month bank charge. Next step see if we can earn a piddly amount of interest each month.

[ewmayer]

Originally Posted by Prime95

Thanks to the fundraiser we can now avoid that nasty $15/month bank charge. Next step see if we can earn a piddly amount of interest each month.

I was hoping to be able to park at least a chunk of the money in some safe vehicle like a brokerage CD (like a regular CD, principal+interest guaranteed at maturity, but actually liquid-marketable prior to then, although selling pre-maturity "at market" loses said guarantees ... one can get 2-3year maturity ones of those currently with interest rates approaching 3%), but poking around the account options I don't see any option for interest-bearing *anything*. Perhaps we need a different kind of business account for that?

[Madpoo]

Originally Posted by ewmayer

I was hoping to be able to park at least a chunk of the money in some safe vehicle like a brokerage CD (like a regular CD, principal+interest guaranteed at maturity, but actually liquid-marketable prior to then, although selling pre-maturity "at market" loses said guarantees ... one can get 2-3year maturity ones of those currently with interest rates approaching 3%), but poking around the account options I don't see any option for interest-bearing *anything*. Perhaps we need a different kind of business account for that?

Liquidity is the key here since the funds need to be drawn upon for the operating costs and potential reward payouts. That rules out the longer term CDs or MM accounts, but even an interest bearing checking account might still pull in a few bucks each month. If enough was set aside to handle a year of expenses, put the rest towards a 1-year whatever.