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Band fund and earnings.

Discussion in 'Band Management [BG]' started by saltydude, Jan 5, 2017.


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  1. saltydude

    saltydude

    Aug 15, 2011
    boston CANADA
    Anyone ever run into trouble with having a surplus in the band kitty?

    It's growing and I'm a bit concerned that if there's too much growth people might start to argue over what to do with it. You know what money does to people. We've already started to have mixed feelings about it and as the BL I am in custody of it. :greedy:
     
    bdplaid likes this.
  2. bassbully

    bassbully Endorsed by The PHALEX CORN BASS..mmm...corn!

    Sep 7, 2006
    Blimp City USA
    I was in a band with a band fund. It worked out great for us and we used it for recording, purchases, artwork and CDs. When the band split we all got a fair cut of the money that was left over. It can work but you have to know the people and trust them.
     
    bdplaid, mjmeche, SLO Surfer and 5 others like this.
  3. buldog5151bass

    buldog5151bass Kibble, milkbones, and P Basses. And redheads.

    Oct 22, 2003
    Connecticut
    A band account is a dispute waiting to happen, unless there is a written contract. Other than that, divide up all proceeds, and when you need money to buy something, everybody kicks in their share.
     
    Last edited: Jan 6, 2017
  4. saltydude

    saltydude

    Aug 15, 2011
    boston CANADA
    Yup that's kinda what I'm afraid of. If we were responsible for paying jam space rent this wouldn't be an issue. Granted it's not the worst thing but.....
     
  5. buldog5151bass

    buldog5151bass Kibble, milkbones, and P Basses. And redheads.

    Oct 22, 2003
    Connecticut
    . Time for a band sitdown. Come to an agreement, whatever that is, put it in writing, and everyone sign it. I still think a band account is asking for trouble.
     
  6. buldog5151bass

    buldog5151bass Kibble, milkbones, and P Basses. And redheads.

    Oct 22, 2003
    Connecticut
    Among other things, what happens if someone leaves the band or gets fired? Either get organized, or don't have joint funds.
     
    bassbooty and saltydude like this.
  7. buldog5151bass

    buldog5151bass Kibble, milkbones, and P Basses. And redheads.

    Oct 22, 2003
    Connecticut
    Remember, it's a business. Treat it as such. Doesn't mean you don't trust each other.
     
    EdO. likes this.
  8. PauFerro

    PauFerro

    Jun 8, 2008
    United States
    Time to hammer out the details and put it in writing. I agree with this prevailing idea here on Talkbass. You need to have it spelled out in advance or the person with the strongest personality prevails...and that can lead to interpersonal problems.

    That is one reason I don't like the peer-based band model. So much easier to take a band leader fee off the top and then pay for everything out of it. YOU decide how much to keep, what to spend it on, etcetera, rather than being subject to the opinions of everyone in the band. In so many areas of my life now, I have been trying to reduce the amount of coordination I need to do with other people to get things done quickly. Progress happens so much faster that way.

    This doesn't mean you don't consult people who have knowledge you don't have (when you need it), it just means you retain the final decision for yourself. It is very empowering and effective.

    And its more efficient. In a democracy, people have different skills, and often the uninformed opinions of parts of the democracy can lead to really bad decisions. If you retain final decision-making, you can consult people who are "in the know" and get the very best advice. Plus you still have the option of modifying it for your personal situation and tastes.

    I know this is beyond what you asked for, so really the first paragraph here is all that applies...off my soap box now...
     
    Oddly likes this.
  9. charlie monroe

    charlie monroe Gold Supporting Member

    Feb 14, 2011
    Buffalo, NY
    If you are running a surplus, stop contributing until the balance returns to "normal" level, then resume collections.

    What is the reason everyone believes that the fund is being allocated for?
     
    DrColossus68 and PauFerro like this.
  10. Old Blastard

    Old Blastard

    Aug 18, 2013
    Virginia
    We're not a big band and we don't do big tours. We just play a few bars and such. I handle the money and I split it equally. I don't want a band fund. If we need something, it's best that someone buy it to own it so there's no arguing upon breakup. If something we use breaks at a gig, everyone chips in to pay for it. Joint gear and such causes nothing but problems.
     
  11. JRA

    JRA my words = opinion Supporting Member

    i play in two different bands, both with "band funds" which are collected in an amount equal to the 'extra player' (1/8 in one band, 1/10 in the other). everyone appreciates that the funds exist to 'pay the bills'. everyone agrees that the the process is a good one, and that it is preferable to conducting 'a collection' to raise funds. in both bands: there is no expectation that a member who leaves is 'owed' a share of the bank, i.e., the band fund endures even though individual players come and go. it's a part of the 'culture' of both bands. the 'banker' in one band is the BL (who publishes a full accounting). in the other band it's not the BL --- there is none --- but the accounting is published regularly (usually after an expenditure). the funds are never used for the acquisition of gear (everyone has their own gear and FOH costs are part of the contract with the entertainment purchaser). but both bands have websites, advertising costs, etc.

    both bands are populated by experienced, rational adults: there are no disputes. there was some discussion, in one of the bands, about whether to spend some money on issue X vs. issue Y, once (in ten years --- had to do with the overall 'direction' of the band --- we 'voted', it was done, next issue....). it's pretty simple, but the process may require mature, trusting, grownups for ongoing implementation. different groups have different cultures and business models: any number of them can work for a particular band organization. there is no such thing as one, single, correct way. no "one size fits all," IMO.
     
  12. lfmn16

    lfmn16 Supporting Member

    Sep 21, 2011
    charles town, wv
    If you don't have agreement over what to do with the money, you shouldn't be collecting it. I can't imagine handing over money to the band and having NO IDEA what was going to be done with it. :rollno:
     
  13. viper4000

    viper4000

    Aug 17, 2010
    Charlotte
    If the fund is growing to a point of concern (surplus), and there are no immediate expenses in the future to prepare for, why continue to contribute? Stop contributing, keep what you have there. It will earn small interest yes, but since it is probably a checking account, it will not grow at a pace worth concern.
     
    guy n. cognito and DirtDog like this.
  14. buldog5151bass

    buldog5151bass Kibble, milkbones, and P Basses. And redheads.

    Oct 22, 2003
    Connecticut
    Y'all know how many lawsuits there are among "experienced, rational adults"? How many threads here in band management dealing with monetary issues ? Any business with more than one owner should have a written understanding.
     
    lfmn16 likes this.
  15. gregmon79

    gregmon79 I did it for the muff... Supporting Member

    Dec 20, 2012
    Chicago IL
    It's pretty simple, everyone has access. Everyone has a say as to what to do with it. Spend it on band stuff whatever that may be, recording, merch, CDs, whatever. If the band breaks up for any reason, split evenly. If anyone uses the money for anything other than band stuff or for anything that the band hasnt agreed to, you either kick them out or only give access to one person and still make money decisions as a band. Don't complicate it.

    If it becomes that much of a problem, then you have the wrong group of people to be in a band with.
     
    SLO Surfer likes this.
  16. JRA

    JRA my words = opinion Supporting Member

    anything you can shake hands on is codified, while i get your point. but experienced, rational adults don't sue each other over a band fund!
     
  17. Bassdirty

    Bassdirty

    Jul 23, 2010
    CT
    My old band had a fund..wed use it as needed for band things.

    When i quit that band they gave me 60$(my cut of the fund at the time) which i didnt even realize was there.

    I do think that a common theme is that (for best results) it helps when dealing with mature people. I dont know how often that is when dealing with 'bands' in general though.
    ;)
    Ymmv
     
    rllefebv likes this.
  18. buldog5151bass

    buldog5151bass Kibble, milkbones, and P Basses. And redheads.

    Oct 22, 2003
    Connecticut
    Not just for lawsuits. It stops arguments. How many responses have we read here ends with " you should have discussed that issue when you joined that band. Chalk up that lost money to experience."?
     
  19. saltydude

    saltydude

    Aug 15, 2011
    boston CANADA
    I actually haven't read a ton of threads on this subject so my apologies for mucking up the server but thanks for the responses. Great so far. I'm just concerned about future bickering etc. and wanted to hear if this is a common problem.
    You see in my primary band we must rent a jam space so for the most part the gig money is genuinely consumed.

    We're not professionals intent on making any career out of it but the jam space in my secondary band is free so it doesn't take more than a handful of gigs before the fund reaches near the 1K mark. You can do some swell stuff with that figure.

    Perhaps we'll take a vote. When it reaches that (probably next gig) I'll divide it up $250 a piece?
     
    nixdad likes this.
  20. JRA

    JRA my words = opinion Supporting Member

    i think up front discussions are always in order, and i think those information exchanges are priceless.

    great idea, IMO, a bonus! and maybe don't split all of it: leave a little for the next leg of the journey! :thumbsup:
     
    HolmeBass and viper4000 like this.

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