February's Pay Out
Added 2014-03-04 19:50:43 +0000 UTCAlright, so I've been SUPER CURIOUS how much money people actually paid through Patreon, after people have had a chance to cancel their payment before getting charged and how much of a percent gets taken up by processing fees.
And now I have stats for my first month! I'm not sure if my graphic will still be legible in this post, so I'm making the full size version an attachment, if you wanna get a closer look.
(Mind you, math is not my strong point, I may have fucked up my percentages)
Pledged: $1,185
Processed: $1,167.77 from 98.54% of Patrons
Processing fees: $131.56 (11.26% of $1,167.77)
TOTAL PAID: $1,036.21
That's actually a lot better than I was expecting! (I always prepare for the worst)
EDIT: Additional info, I opted to be sent a check (and when direct deposit is enabled I'll be using that) rather than PayPal, so I'm avoiding an extra PayPal fee. I expect the check will arrive in a couple days.
I am so deeply grateful to you wonderful, generous people who are helping to support my project. You guys are making a very real difference in my ability to pay my bills and I feel so goddamn lucky and humbled :')
Fuck, trying not to get teared up over here, but for reals, thank you.
Comments
Thank you so much!
Erika Moen
2014-03-05 01:20:38 +0000 UTCIt's great to know that our donations will be of help to you. After all with your talent, and passion. Combined with the fact that you strive to make your comic educational (as well as informative, funny, and realistic) you deserve to be able to focus on what you enjoy without needing to worry about bills. Keep being amazing!!!
Luka Yuusha
2014-03-05 01:15:01 +0000 UTCMy paypal account is a business account, all money I receive is taxable.
Erika Moen
2014-03-04 21:39:35 +0000 UTCReally, you pay on those? I've yet to see anything that would suggest those should be taxed, unless they're giving you like 15000$. But I can understand being paranoid. I generally err on the side of overpaying rather than risk the chance of an audit.
David Mazur
2014-03-04 21:17:34 +0000 UTCOh, I'm deeeeefinitely gunna be paying taxes on this, I pay taxes on all the little PayPal donations I get for $1 too ;) So subtract another 33% out of my paid number to see my REAL final number. Thanks for your comment! :)
Erika Moen
2014-03-04 21:11:02 +0000 UTCThanks for the numbers. Some of us are good at math and were curious about them. Where it gets real fun is if this is taxable or not. Crowdfunding is already unclear on that, with most people leaning towards you're safest treating it as taxable income. But Patreon makes it even weirder, as we're not pledging amounts toward a specific reward or promised payout other than whatever behind the scenes updates you feel like doing, so it's easier to make the argument that it's a whole bunch of tiny gifts that are all well under the taxable limit. 1036$ is a lot better if you don't have to pay anything further on it :) At your current pledge rate, you'll be getting ~10.25$ an hour if your pledge rate and fees hold steady, but if it doesn't need taxes withheld, that bumps you to the equivalent of a 15$/hr job. Still not caviar and champagne money, but a good payout for the (hopefully small) amount of additional time that preparing these updates for us takes you. TL;DR - I appreciate you sharing real numbers, as it really does help when talking with friends who are figuring out their own strategies to fund their projects without needing to float a day job.
David Mazur
2014-03-04 21:06:17 +0000 UTC
