Nostr Web Client

I shouldn’t be surprised but I really thought these guys were different smh

Hodl Harry 1y ago

Especially Alex..

He makes more than the average engineer and way more than the average American

Kendy 1y ago

What should he make? Should it be decided by cost of living in his city/town?

He should be compensated but not over $200k that’s unreasonable 😂

I’m guessing it’s a calculated percentage based on the total donations they collect.

Don’t want to judge without knowing all that they do and the value they bring but yeah, non profits are quite profitable for those in place

Sounds more like a business with a salary position instead of a charity

But we can’t discount what they’re doing

Where do you draw the line? If the president is making over 300k per year? Half a million? At what point do you say this is excessive?

I can’t say without knowing all that they’re doing, and whether if that’s an acceptable value.

This is likely normal acceptable C-levels salaries in big sized private businesses

But if I were to consider donating I’d want further clarification

Same. I don’t think we will get any clarification though.

Yeah I’ve not seen him respond to us normies much on soc media

We’re not normies. The normies don’t read their tax documents or even ask these questions haha

Kendy 1y ago

I wanna say HRF is a net good overall even if they’re skimming 5-10% more than they should… But it’s definitely worth spotlighting

Even if that were true (I don’t think it is), how long until they get greedy and corrupt? The incentives are fucked up.

Kendy 1y ago

Great point. Should be addressed now

nicnym 1y ago

Must be nice lmfao

This nonprofit is quite profitable

bitcarnicoin 1y ago

Over spending other people's money on yourself sure happens a lot

nostr:nevent1qqszqar5l5e93f4aq3g0pg4y98uh0h60gpxd6zkky5pxc0yrwuenzdqpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsygz97x2ull9ce9eyalpy3uzs0ghmvk6hnhatulxn2wv9nqtre2mkyupsgqqqqqqsqqf73q

Sounds very fiat

bitcarnicoin 1y ago

Yes, yes it does.

BTC_P2P 1y ago

Exact same dynamic with taxes. When the money comes in cheap it’s too tempting for management or politicians to pay themselves well above market value.

kidwarp 1y ago

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Beiner 1y ago

Keep giving your corn to people that dont need it. You just keep paying for their lifestyle.

nobody 1y ago

MUH democracy crowd haha

Check your financial privilege bro

nobody 1y ago

Putin bad 🤣

Putin bad, he rigs elections. We need freedom and better democracy. We need to fairly choose the parasites that extort and abuse us 🫡

That’s a lot of money. Do you know how much money they get in donations in a year?

https://hrf.org/annual_reports/2022-form-990/

34 million in net assets for the year 2022.

Source: page 2

Every year is different but 2021 looks like they had 21 million so in 2022 they got an additional 13 million I’m guessing?

Does it say if they get a big raise every year?

Idk I’m not trying to read 50 pages of fiat lawyer speak lol but even if it did say that, it’s still egregious.

It’s definitely like a big company salaries. Their only source of revenue is donations right?

I believe so. It’s a charity after all.

Dan Wedge 1y ago

You are correct they should work for free!

indebted to their serveitude for the greater good of all humans.

#ThankFulGladsteinBitcoins

😂

Strawman. Never said they should work for free but this is clearly excessive.

Dan Wedge 1y ago

What's reasonable?

Average American salary is 60k. I’d say 85k is reasonable. A six figure salary is really pushing it though. Making $120k+ is around what engineers make. Making over 200k and 300k is crazy.

AllieBlue ☉ 1y ago

because that's how Not For Profits and NGOs work. They are virtue signalling money makers not common good focused.

Set up a foundation for "charity" raking in 6 figures plus all discounts on taxes. Kerry Kennedy makes half a million annually off the RFK foundation alone. Meghan Markle makes untold thousands off their Archewell Foundation

Oh I’m aware I’ve looked at plenty of nonprofit tax forms. But I thought this one would be more ethical.

AllieBlue ☉ 1y ago

I literally know not one. maybe we need btc charities...

Look at the form 990 for open sats and the Bitcoin policy institute

nout 1y ago

This very much depends on where you live. If you live in NYC, LA or SF, then this is less than what average software engineers get especially if you count equity that software engineers in big corpos often get as part of their comp.

You can confirm this on https://www.glassdoor.com/

E.g. with the money that nostr:npub1trr5r2nrpsk6xkjk5a7p6pfcryyt6yzsflwjmz6r7uj7lfkjxxtq78hdpu is getting after 40% taxes, you can reasonably rent a decent 2-3 bedroom ($5k/m), get a car, have some money to travel, etc, but if you would want to own a place or if you need to take care of your dependents, then it becomes harder (without additional income)

Or you could live in a place that is more affordable

nout 1y ago

True. The paychecks are "normal" for the most expensive places I mentioned, otherwise you could definitely go cheaper.

Since the information is public I think anyone can make their decision on whether the value that HRF (and their employees) provides matches their compensation. Value for value. If you believe they should be compensated less, then don't donate to/via HRF. (use things like geyser.fund instead ;) )

I agree with that. I made this post just to spread awareness so people can make better informed decisions. The number of nonprofits that pay high salaries like these is very disappointing.

nout 1y ago

Overall based on 2022 HRF pays $3M in salaries, has $34M in assets, spends $8M on education and grants, spends $9M on investments.

I may be misunderstanding on some of the specifics, but the details are in: https://hrf.org/annual_reports/2022-audited-financial-statements/

Grift much?!? 😆

Me or HRF? lol

HRF

It seems we can’t have nice things 😂

:P 1y ago

The more 501c s bring in the higher the board member salaries

Sounds like a for profit business built off rent seeking

sat_ur_day 1y ago

To be honest, I think they deserve >100k for their massive impact, but maybe that could be even more transparent to donors.