What is Open Collective?

Open Collective is an open source platform designed to provide financial transparency and easy money management for communities, collectives, groups, projects, events, and more. It allows collectives to raise and collect money, manage budgets transparently, receive tax deductible donations, pay expenses, compensate contributors, invoice organizers, and more.

Some key features of Open Collective include:

• Ability for anyone to create a collective with transparent financials and submit expense reports publicly.
• Non-profit collectives can find fiscal sponsorship and receive tax deductible donations under a fiscal host organization.
• Tools for communicating financial activity and engaging contributors through updates and conversations.
• Payment processors to easily collect money via credit cards, PayPal, bank transfers, etc. and pay out expenses automatically.
• Bookkeeping features like invoicing, accounting,balance sheets, accounting integrations, and more.

By handling the administrative overhead through Open Collective's platform and fiscal hosts, collectives can focus on their mission and easily operate in a transparent manner to instill trust and engagement within their community. The open source platform facilitates grassroots fundraising for initatives large and small worldwide.

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