Last week, we launched a new feature in Hack Club Bank: Transparency Mode.
With Transparency Mode, you can open source your finances instantly from your account settings page. Why would you want to do that? Nonprofit donors deserve to know what their contributions are funding—as a hackathon/nonprofit, you can talk about what you’re spending money on, but transparency in every transaction builds trust for supporters. It’s already live in action!
- You can see Hack Pennsylvania’s finances here and @lachlanjc made a transparency page showing more details from their event.
- The first event on Hack Club Bank, Hack Chicago, is open here.
- Windy City Hacks open sourced, too.
That’s not all. When Hack Club first started, Zach’s hope was to build a different kind of organization: one not only open source with code, but open source with its finances too. Every month, Zach would painstaking put every transaction on GitHub. Unfortunately, as we grew, the tooling took too long & we had to outsource our books to an accounting firm that didn’t know what GitHub was. We’ll be sharing this publicly next week, but Bank users are getting a sneak peek today: Hack Club HQ has been running entirely on Bank for months now, and our finances are public. Dig in, right here: bank.hackclub.com/hq.
Let’s set a new standard in financial transparency for nonprofits. If you have any questions or feedback on how to improve Transparency Mode, please let us (firstname.lastname@example.org) know!