Why donate time dollars to the time bank?

We in Cape Ann Time Bank are run by volunteers and committee. Started up in Spring we have 110 members plus. We decided that people in the leadership team should be paid for our time when we meet, if we do an orientation etc. Then it was suggested the people could donate their time dollars to the timebank which many of us did.
Is their any limit to the number of TD that the time bank can give to volunteers? If yes what would it be?
If no, then why should people donate their hours back to the timebank at all?
This went around and around and so I wonder how others TBs with this subject.

Gitama
That's great to hear that you have so many members already! On the question of how many Time Dollars the Time Bank can give out -- I can give you an overview kind of answer -- but it would be great to hear the experiences of different Time Banks.

Generally, the Time Bank can go in one of two ways: One is to be really strict about the accounting and say that the Time Bank can only use Time Dollars that it has in the bank. The other way is to let the Time Bank go into debt and not worry about it -- but that can lead to confusion of the kind you've just described, so as a general rule, the first way is better.

That raises the question of how a member-managed Time Bank can accumulate the Time Dollars it needs. Whether there's a BEST way of doing this would be a great question to address at the Time Banking conference in November, but here are some options:
1. Every member pays Time Dollar dues either monthly or quarterly to help keep the Time Bank with Time Dollars on hand. The number of dues could be determined at the beginning and then altered over time if the Time Bank seems to be receiving either more or fewer Time Dollars than it needs to stay afloat.
2. Above and beyond the dues, some members contribute Time Dollars to the Time Bank as they feel inspired to do, or in response to a special appeal.
3. Time Bank members hold classes or group events for Time Dollars -- but they still earn just one Time Dollar for each hour they put into the class or event (in preparation, running the class or event and doing the after-class or after-event work). If a number of members turn up, each paying in Time Dollars for the time they participate, there will an excess of Time Dollars -- and the excess will go to the Time Bank.
4. The Time Bank leadership asks members to organize a group event or project that is expressly organized as a Time Dollar fundraiser for the Time Bank. Members agree to put in at least 1 Time Dollar (or however many that the leadership and membership agree to) either by working on the project, or as a direct donation.

I am sure there are other ways, too, for a member-managed Time Bank to accumulate the Time Dollars that it needs to pay out to members who are doing what it takes to help the Time Bank run. The particular paths that are chosen reflect the Time Bank's membership and character.

Chris

How are you keeping a tally of the time dollars donated to your time bank?
Floyd Marie Gilmore

Hi Floyd
By making the Time Bank a member of Community Weaver, you make it possible for the Time Bank to earn and spend Time Dollars. That's useful, because there are times when the Time Bank itself needs support -- and it can pay members in Time Dollars for giving their support.

The members can help build up the Time Bank's account in different ways. Here are three:

Also, there are times when you might want to have it that the Time Bank is able to earn Time Dollars for doing things for members. Deciding when and how it should be able to earn Time Dollars is something the team needs to take up.

Chris

Well thanks for the answer Christine. Though I am not sure we will follow your advice to be either or.
I think that it is clear that some indebtedness is always necessary in order for things to move. Otherwise we could only all do our giving and receiving simultaneously.
Besides confusion is not always a bad thing. All who wander are not lost.

gitama Cool

Hi Gitama
This was what I wrote:
Generally, the Time Bank can go in one of two ways: One is to be really strict about the accounting and say that the Time Bank can only use Time Dollars that it has in the bank. The other way is to let the Time Bank go into debt and not worry about it -- but that can lead to confusion of the kind you've just described, so as a general rule, the first way is better.

And you responded:
Well thanks for the answer Christine. Though I am not sure we will follow your advice to be either or.

So you'll be going for "and" -- doing both together. Sounds good!
Smile

Chris

The Mid Maine TimeBank has gone way into Time Dollar debt by stimulating our core economy. We pay TD's to office, leadership and IT assistance, and see no problem going into major debt with our TimeBank account. We also have a Social Fund that our members donate TD's to to help those in great need. If that account gets low, the TimeBank account adds TD's in support of the Social Fund. I call this transaction "Gov't Stimulus". If our Congress has no problem going into debt, why should we? I like the idea of TD dues or events earning TD's for the TimeBank, and we will discuss these options further, but I don't see a great issue with debt, if it's for a good cause!

hey stacey
that sounds like a great idea - does the social fund have its own profile on the site as well?
is there a process for allocating the hours? in your system, are organizations also candidates for these hours?

thanks!
adrianne
www.santafetimebank.org

Hi Adrianne,
I have just one account for the timebank but many offers and requests within it, acting like filters. The social fund is set up as a pair of an offer and request . I've renamed it the "Social Justice Pool," one "for the giving" and one "for the taking". It works kind of like insurance but it doesn't matter when you pay your premium. I think if people feel like they've put into an account, they will be more likely to use the help when they really need it and less likely to worry about the amount of time dollars being used, or to hoard time dollars instead of circulating them. I find I really have to encourage people to spend, and it keeps them moving the currency around. Members may donate to this "pool" or to a particular organizational member as well, even for specific projects tagged as offers within their accounts. (careful how you word the ad so that the transaction is correct)
We have also started a general "Organizational Support" fund for new groups to get started rewarding their volunteeers.
And we also have the "Fun Fund" - a pool for events - musicians, caterers, floral arranging, planning. to be used for anything from weddings to community events. I want members to start spending like sailors! And I have a few volunteers earning hundreds of time dollars - they started the ball rolling, seeding these funds.

Last edited by TonyB on Sun Mar 28, 2010 8:11 pm; edited 1 time in total

Hi Stacey,

I don't understand your use of the word "fund". Are you saying that you open a TimeBank member account as Coordinator? For example, in the first name field "Fun Fund" and in the last name field "ORG"?

Or is there something else in the use of "fund" that I'm missing? Or do you always use the word "fund" meaning a TimeBank "account"?

Cheers,
Tony

Hi Tony,
All the "funds" or "pools" are set up as a pair of an offer and request through the TimeBank account, or "profile."
I think sometimes there is too much attention to the balancing of accounts and not enough emphasis on wealth, and the abundance of time dollars. We realize that there is an opposite argument, that there may be a risk of people finding the Time Dollar too easy to get and therefore meaningless. Or, that they could just go into debt and be allowed to a certain point. However, I find most everyone reluctant to go into "debt," thus creating a sense of scarcity again. For every one of these time dollars spent, no matter how obtained, a new transaction is created, and reciprocity does not have to be enforced in most instances; it is a natural response, from either an individual or organization.

Well thanks for the answer Christine. Though I am not sure we will follow your advice to be either or.I think that it is clear that some indebtedness is always necessary in order for things to move. Otherwise we could only all do our giving and receiving simultaneously.Besides confusion is not always a bad thing. All who wander are not lost.
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Author	Message	Add Your Reply
Why donate time dollars to the time bank?
gitama Kinigstein Joined: 04 Apr 2007 Posts: 3 Location/Time Bank: cape ann	Dated: Fri Apr 06, 2007 7:32 pm Subject: Why donate time dollars to the time bank?
	We in Cape Ann Time Bank are run by volunteers and committee. Started up in Spring we have 110 members plus. We decided that people in the leadership team should be paid for our time when we meet, if we do an orientation etc. Then it was suggested the people could donate their time dollars to the timebank which many of us did. Is their any limit to the number of TD that the time bank can give to volunteers? If yes what would it be? If no, then why should people donate their hours back to the timebank at all? This went around and around and so I wonder how others TBs with this subject.
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christine gray Joined: 03 Nov 2006 Posts: 12 Location/Time Bank: Washington, DC	Dated: Sat Apr 07, 2007 10:05 am Subject: Re: Why donate time dollars to the time bank?
	Gitama That's great to hear that you have so many members already! On the question of how many Time Dollars the Time Bank can give out -- I can give you an overview kind of answer -- but it would be great to hear the experiences of different Time Banks. Generally, the Time Bank can go in one of two ways: One is to be really strict about the accounting and say that the Time Bank can only use Time Dollars that it has in the bank. The other way is to let the Time Bank go into debt and not worry about it -- but that can lead to confusion of the kind you've just described, so as a general rule, the first way is better. That raises the question of how a member-managed Time Bank can accumulate the Time Dollars it needs. Whether there's a BEST way of doing this would be a great question to address at the Time Banking conference in November, but here are some options: 1. Every member pays Time Dollar dues either monthly or quarterly to help keep the Time Bank with Time Dollars on hand. The number of dues could be determined at the beginning and then altered over time if the Time Bank seems to be receiving either more or fewer Time Dollars than it needs to stay afloat. 2. Above and beyond the dues, some members contribute Time Dollars to the Time Bank as they feel inspired to do, or in response to a special appeal. 3. Time Bank members hold classes or group events for Time Dollars -- but they still earn just one Time Dollar for each hour they put into the class or event (in preparation, running the class or event and doing the after-class or after-event work). If a number of members turn up, each paying in Time Dollars for the time they participate, there will an excess of Time Dollars -- and the excess will go to the Time Bank. 4. The Time Bank leadership asks members to organize a group event or project that is expressly organized as a Time Dollar fundraiser for the Time Bank. Members agree to put in at least 1 Time Dollar (or however many that the leadership and membership agree to) either by working on the project, or as a direct donation. I am sure there are other ways, too, for a member-managed Time Bank to accumulate the Time Dollars that it needs to pay out to members who are doing what it takes to help the Time Bank run. The particular paths that are chosen reflect the Time Bank's membership and character. Chris
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Floyd Marie Gilmore Joined: 23 Feb 2007 Posts: 4 Location/Time Bank: California	Dated: Thu Apr 26, 2007 12:21 pm Subject: Donated Time Dollars
	How are you keeping a tally of the time dollars donated to your time bank? Floyd Marie Gilmore
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christine gray Joined: 03 Nov 2006 Posts: 12 Location/Time Bank: Washington, DC	Dated: Thu Apr 26, 2007 5:58 pm Subject:
	Hi Floyd By making the Time Bank a member of Community Weaver, you make it possible for the Time Bank to earn and spend Time Dollars. That's useful, because there are times when the Time Bank itself needs support -- and it can pay members in Time Dollars for giving their support. The members can help build up the Time Bank's account in different ways. Here are three: They can voluntarily donate Time Dollars to the bank when they feel like it There can be a policy that all members are asked to donate Time Dollars to the Time Bank on a regular basis, like one a month *When a Time Bank earns Time Dollars from a group of other members at the same time, like in a class, then he or she should still get just one Time Dollar for each hour, and the other Time Dollars should go into the Time Bank Also, there are times when you might want to have it that the Time Bank is able to earn Time Dollars for doing things for members. Deciding when and how it should be able to earn Time Dollars is something the team needs to take up. Chris
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gitama Kinigstein Joined: 04 Apr 2007 Posts: 3 Location/Time Bank: cape ann	Dated: Tue May 08, 2007 3:16 pm Subject: Timebank in debt
	Well thanks for the answer Christine. Though I am not sure we will follow your advice to be either or. I think that it is clear that some indebtedness is always necessary in order for things to move. Otherwise we could only all do our giving and receiving simultaneously. Besides confusion is not always a bad thing. All who wander are not lost. gitama
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christine gray Joined: 03 Nov 2006 Posts: 12 Location/Time Bank: Washington, DC	Dated: Thu May 10, 2007 12:17 pm Subject:
	Hi Gitama This was what I wrote: Generally, the Time Bank can go in one of two ways: One is to be really strict about the accounting and say that the Time Bank can only use Time Dollars that it has in the bank. The other way is to let the Time Bank go into debt and not worry about it -- but that can lead to confusion of the kind you've just described, so as a general rule, the first way is better. And you responded: Well thanks for the answer Christine. Though I am not sure we will follow your advice to be either or. So you'll be going for "and" -- doing both together. Sounds good! Chris
Back to top
stacey.jacobsohn Joined: 08 Apr 2009 Posts: 4 Location/Time Bank: Waterville, ME	Dated: Tue Jul 07, 2009 9:04 am Subject: gov't stimulus
	The Mid Maine TimeBank has gone way into Time Dollar debt by stimulating our core economy. We pay TD's to office, leadership and IT assistance, and see no problem going into major debt with our TimeBank account. We also have a Social Fund that our members donate TD's to to help those in great need. If that account gets low, the TimeBank account adds TD's in support of the Social Fund. I call this transaction "Gov't Stimulus". If our Congress has no problem going into debt, why should we? I like the idea of TD dues or events earning TD's for the TimeBank, and we will discuss these options further, but I don't see a great issue with debt, if it's for a good cause!
Back to top
amccurrach Joined: 07 Aug 2009 Posts: 9 Location/Time Bank: Santa Fe Time Bank	Dated: Tue Feb 02, 2010 5:38 pm Subject: social fund
	hey stacey that sounds like a great idea - does the social fund have its own profile on the site as well? is there a process for allocating the hours? in your system, are organizations also candidates for these hours? thanks! adrianne www.santafetimebank.org
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Stacey Jacobsohn Joined: 03 Feb 2010 Posts: 4 Location/Time Bank: Mid Maine TimeBank	Dated: Wed Feb 10, 2010 12:51 am Subject: social fund
	Hi Adrianne, I have just one account for the timebank but many offers and requests within it, acting like filters. The social fund is set up as a pair of an offer and request . I've renamed it the "Social Justice Pool," one "for the giving" and one "for the taking". It works kind of like insurance but it doesn't matter when you pay your premium. I think if people feel like they've put into an account, they will be more likely to use the help when they really need it and less likely to worry about the amount of time dollars being used, or to hoard time dollars instead of circulating them. I find I really have to encourage people to spend, and it keeps them moving the currency around. Members may donate to this "pool" or to a particular organizational member as well, even for specific projects tagged as offers within their accounts. (careful how you word the ad so that the transaction is correct) We have also started a general "Organizational Support" fund for new groups to get started rewarding their volunteeers. And we also have the "Fun Fund" - a pool for events - musicians, caterers, floral arranging, planning. to be used for anything from weddings to community events. I want members to start spending like sailors! And I have a few volunteers earning hundreds of time dollars - they started the ball rolling, seeding these funds.
Back to top
TonyB Joined: 17 Sep 2007 Posts: 91 Location/Time Bank: N.E. Ohio	Dated: Sun Mar 21, 2010 7:28 pm Subject: social fund
	Hi Stacey, I don't understand your use of the word "fund". Are you saying that you open a TimeBank member account as Coordinator? For example, in the first name field "Fun Fund" and in the last name field "ORG"? Or is there something else in the use of "fund" that I'm missing? Or do you always use the word "fund" meaning a TimeBank "account"? Cheers, Tony Last edited by TonyB on Sun Mar 28, 2010 8:11 pm; edited 1 time in total
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Stacey Jacobsohn Joined: 03 Feb 2010 Posts: 4 Location/Time Bank: Mid Maine TimeBank	Dated: Sun Mar 21, 2010 8:20 pm Subject: Fun Fund
	Hi Tony, All the "funds" or "pools" are set up as a pair of an offer and request through the TimeBank account, or "profile." I think sometimes there is too much attention to the balancing of accounts and not enough emphasis on wealth, and the abundance of time dollars. We realize that there is an opposite argument, that there may be a risk of people finding the Time Dollar too easy to get and therefore meaningless. Or, that they could just go into debt and be allowed to a certain point. However, I find most everyone reluctant to go into "debt," thus creating a sense of scarcity again. For every one of these time dollars spent, no matter how obtained, a new transaction is created, and reciprocity does not have to be enforced in most instances; it is a natural response, from either an individual or organization.
Back to top
ccarltonn45 Guest	Dated: Tue Aug 10, 2010 9:03 pm Subject:
ccarltonn45 Guest	Well thanks for the answer Christine. Though I am not sure we will follow your advice to be either or.I think that it is clear that some indebtedness is always necessary in order for things to move. Otherwise we could only all do our giving and receiving simultaneously.Besides confusion is not always a bad thing. All who wander are not lost. _____________________________ Slimming Pills Weight Loss Pills
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