Jam Club


We'll start with just one pre-approved agenda: The club has an interest free initial loan debt equal to the first year's expenses. That includes a lease commitment, and a budget for security and housekeeping for the 12 monthly member meetings.

The club will direct all membership income to the repayment of that initial loan. Upon repayment of the initial loan, membership income will be directed to the club's general fund. Members may approve plans to raise money for other purposes, which will not be used to repay the initial loan.

The money came from me, Dan Murphy, and it will be my name on the lease. I intend to turn over the club to it's own direction, once I'm paid back.

Until the initial loan is repaid, I will act as the club's president. Due to my personal investment and guarantee, I will retain the power of veto, which can not be overturned. I will not have special rule making power, but I can suggest agendas and cast one vote like any other member. The club members should suggest and approve an agenda that defines the way the club will be managed after I am paid back.

On a personal note:

As the club's lender for the lease commitment, I'm investing in this idea like I was starting a business. I'm doing it with confidence that it will become profitable. I don't want the profit, and I'd be proud to see the club remain viable without my direction. Although I have not made rules excluding it, I would put my vote against members directly profiting from the club's income. It would go against my general idea to approve dividends just for being a member. One of my possible future agendas would be to have public ticketed events, where we could generate personal gig income.