Since the announcement of the cancellation of Burning Nest 2020, we have been working hard behind the scenes to calculate the fairest way to process membership refunds. We know everyone will have questions about how this will work, so we’ve put together a handy FAQ that should answer them all! If, after reading this, you still have questions, please ask us using this form, so we can keep everyone’s questions together.
What are the options with my Membership?
We will be giving you 2 options with your membership (including parking passes);
- Transfer to the Next Burning Nest (“Next Nest” from here on out) or
- Receive a refund for your Membership and Parking Passes (of which you can choose to donate a portion)
- Up to 100% refund for Inclusion memberships (Low Income and Very Low Income)
- Up to 80% refund for other memberships
|Membership||Purchase Price||Refund Amount||Parking Refund (all cost £10)|
|Very Low Income||£30||£30||£10|
The options above apply whether you bought your membership yourself, or someone transferred one to you via Quicket.
What is the thinking behind the refund amounts and options going forward?
Our first priority is to refund as much as possible, while limiting the effect on Burning Nest and its ability to thrive going forward. We want to prioritise our most vulnerable members (those on inclusion memberships such as Low Income and Very Low Income) and therefore have factored in a full refund for all of them.
Our refund amounts came from looking at our costs (event-related to date, and yearly), factoring in the full refund for Inclusion Memberships and looking at what was left to refund. Luckily our biggest cost (land hire) is able to be held for the Next Nest and we have enough in our contingency fund to cover this until then, so it will not come into play in these calculations.
We also heard members of the community mention they would like to donate their memberships and that people’s main concern, like ours was for Nest to happen in the future.
We also want to offer the option for people to hold onto their memberships for the Next Nest. Part of this means that less of their membership will go towards the Next Nest budget as some of it has to be used to cover 2020 costs (depending on how many donations we get) but also means we have committed members and more money in the bank which we can potentially leverage to get early payment discounts or to get better deals as they come up (as an example, some structures we are looking at for next year).
Can we see the finances?
|Item||Ref||Amount||Where is the info from?|
|Income from Sales||A||32,235||Sales|
|Cost of Sales (Stripe and Quicket Fees)||B||1473.52||Expenses|
|Yearly Costs (Software, storage, business costs etc)||D||3,150||Expenses|
|Total Expenses||E||5644.52||= B + C + D|
|Balance available for refunds all refunds||F||26,590.48||= A – E|
|Funds required to give inclusion members 100% refund||G||3,300||Sales|
|Balance available for remaining refunds||H||23,290.48||= F – G|
|Full price of remaining memberships||I||28,935||= A – G|
|% available for remaining refunds||J||80.50%||= H / I|
|Remaining Members refund at 80%||K||23,148||= I X 80%|
|Amount not going to refunds||L||142.48||= H – K|
So why are we doing 80% instead of 80.50% and where is it going? Well it will be applied in the same priority as the donations. The first and main driving factor is to make sure Burning Nest is protected and can thrive next year. As mentioned above, people who transfer their membership will have an effect on the budget for the Next Nest, this will help reduce that effect.
We do not have a crystal ball (well one that we can trust enough anyway) to know what options people will select so we wanted to make sure that everything would work out regardless.
When and how can I let you know what I want to do with my Membership?
When will the Next Nest happen?
We honestly can’t say at the moment with this crazy world, we explored options to have it later in the year but there is not a suitable time with the venue and there is too much uncertainty anyway.
We have our regular dates around the late May Bank holiday penciled in with our venue for 2021, and we will look to confirm dates when we have more certainty
When should I see my refund and how will it be done?
You should expect to see your refund by the 31st of May 2020 via Bank Transfer or Paypal (your choice).
If I donate my membership where will the money go?
Donated membership fees will go towards supporting Burning Nest in the following priority:
- Cover any additions expenses that we have not counted for (we should have them all but just in case)
- Cover costs for this year those who transferred to the Next Nest so that the budget/membership price will not suffer for the Next Nest
- Towards initiatives between now and Next Nest
- Towards grants for Next Nest
I want to transfer my Membership or don’t have a Membership but I want to donate to support Burning Nest, is there anything I can do?
At the moment no, but keep an eye out on Comms as we are looking at having ways for people to donate year round to cover our yearly costs, so that more of the memberships fees can go towards things at future Burning Nests.
What happens if I take a transfer and I can’t make the Next Nest?
You will be able to transfer your membership as per normal, via Quicket.