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17	17	= Incubation period =
18	18
19		-Snowdrift.coop will graduate from incubation when ready to list the first outside project accepting formal funding pledges.
	19	+Snowdrift.coop will graduate from incubation when fully incorporated with Bylaws in place, in position to govern effectively while working toward full operations and beyond.
20	20
21		-== Requirements to list outside projects ==
	21	+== Requirements to reach full incorporation ==
22	22
23		-For an outside project to use Snowdrift.coop to receive real funds, the following must be in place:
	23	+* Prepare complete Bylaws decisions
	24	+* Get legal Bylaws draft made by lawyer
	25	+* Ratify Bylaws
	26	+* Meet any other state requirements for incorporation
24	24
25		-* Backend software managing multiple project listings
26		-* Frontend project listing presentation adequately acceptable to the maintainers of the outside project
27		-* Legal status and policies platform approved by lawyers
28		-* Governance and security practices meet adequate standards for a fundraising platform
29		-
30	30	== Pre-OSI foundations ==
31	31
32	32	When first approved in 2015, Snowdrift.coop already had a fake-money prototype website and well-researched notes and writings. Articles of Incorporation were filed with the State of Michigan but Bylaws and final incorporation not finished.
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40	40	Over the course of 2017 through 2019, progress was inconsistent. The project moved through several different project-management tools and struggled to organize work among the volunteer distributed team. Nevertheless, the design and governance got refined and simplified and alpha testing began. An animated homepage video captures the core idea better than ever.
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	40	+Work on Bylaws mainly involved dropping a complex multi-stakeholder idea and simplifying the governance proposals.
	41	+
42	42	== Current status ==
43	43
44		-Last updated March 2020
	44	+Last updated June 2020
45	45
46	46	=== Alpha testing ===
47	47
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52	52	To avoid excessive fees, charges are delayed until multiple months add up to a few dollars per patron. At the time of this update, no actual charges have been processed.
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	54	+Bylaws decisions have been discussed but need to get reviewed by a lawyer. Fundraising may be needed unless pro bono counsel can be found.
	55	+
54	54	=== Next steps ===
55	55
56	56	For reference, see https://wiki.snowdrift.coop/planning
57	57
58		-As another summary of the steps to graduate incubation:
	60	+But for the Bylaws, the main focus is on summarizing Bylaws ideas, discussing with outside advisors, and getting the clearest concise set of bullet-points to lawyer for review.
59	59
60		-* Complete bylaws in place to operate as co-op
61		-* Tax and financial status clear
62		-* Team accountabilities filled enough for adequate security and liability management
63		-* Solid sysadmin status
64		- * In progress via OSUOSL taking over systems
65		-* Site development to support listing of multiple projects and processing of pledges and payments
66		-* Recruit first outside project(s) and address any concerns they have prior to getting listed
67		-
68		-Also, strongly preferred but perhaps not necessary:
69		-
70		-* complete UX with email notifications of all stages of pledging process
71		-
72	72	== Circumstances for winding down without graduation ==
73	73
74		-The following situations could lead to closing the project:
	64	+If by the end of 2020, we do not have Bylaws in place, we will discuss winding down and otherwise will leave the incubation program even without graduation.
75	75
76		-* After as much recruiting as we have resources to manage, we fail to either (A) get adequate volunteers/team to push forward and/or (B) successfully recruit interested initial outside projects
77	77
78		-* We encounter unexpected substantial block to operations (such as a legal or technical obstacle to doing crowdmatching)
79		-
80		-* Another platform adequately fills the niche we're focused on or partners with us (or adopts our mechanisms)
81		-
82		-