Dissolution Update For Collectives
Published on March 6, 2024 by Mike Strode (OCF)
It has been one week since we announced the upcoming dissolution of Open Collective Foundation. We’ve heard from many of you, and we are so grateful for the kind words that have been shared. This is a difficult time for us and we know it’s a difficult time for you, and we appreciate the grace you’ve given as we sort out many of these logistics in real time.
We’ve also heard from several of you a sense of surprise or confusion. Some have reached out to offer suggestions and see if there might be an opportunity to reverse course. We spent several months in late 2023-early 2024 exploring alternative options to address the numerous challenges in the organization. The decision to dissolve was not made quickly or lightly.
We want to be clear - funds held by Open Foundation Collective on behalf of our collectives are safe and FDIC insured. Each collective’s balance presented on the platform is accurate.
Once it became evident that dissolution was the best path forward, we announced as soon as was possible from a legal standpoint, even though we didn’t have every last logistical detail sorted out. Thank you for your patience as we make plans with each of our 600 collectives. There is no one-size-fits-all solution.
Updated FAQ
Many of you have emailed us with your questions over the last several days. We are doing our best to keep the dissolution FAQ updated as questions roll in.
One of the top questions is about the March 15 cut-off date for incoming funds, and we have added additional information about that to the FAQ. If you have not received funds you were expecting, please fill out this form and we will help identify missing funds.
We are also hearing some confusion about the options for collectives moving forward, so we’ve added more detail about what the possible pathways are and when they might apply.
We are committed to working with each of you to identify the best possible option for your collective and will be in touch soon if we haven’t already heard from you.
If you have any questions, you can email [email protected] to reach our team.