Hack Club Bank and MLH are combining forces.
Today, we’re announcing with Major League Hacking that Hack Club Bank is the new preferred financial platform for all MLH Member Events.
On a golden Friday afternoon last November 2nd, 2,200 students from 20 states and 6 countries streamed into the main atrium of Cal Memorial Stadium overlooking UC Berkeley. Lines wrapped around the stadium’s granite columns with attendees anxiously waiting under the stadium’s shadow to hide from the autumn sun, tickets in hand and excitedly speculating on the night’s activities.
But this night, there would be no football game: the field would remain empty. Tonight, the stadium would be home to the world’s largest collegiate hackathon: Cal Hacks 5.0. Swag bags were handed out, waivers signed, and names scribbled on badges that read “HACKER.”
All the time, students reach out to Cal Hacks, eager to start hackathons of their own. But every hackathon, including Cal Hacks, run into a wall: running a hackathon comes with a lot of baggage, from managing large sums of money to incorporating a nonprofit, filing taxes, and receiving payments from sponsors.
Cal Hacks estimates that 1 in 6 hours spent organizing is spent on this overhead. Hackathons are already hard to run: every hour should go to making the attendee experience better, not on administration that could be outsourced.
That’s why we created Hack Club Bank.
Hack Club Bank: Full-Stack Hackathon Finances
Hack Club Bank takes care of nearly all the administrative overhead so you can run a better event.
Through Hack Club Bank, your event gets 501(c)(3) nonprofit status, a fully-managed bank account with a beautiful web interface, free professional G-Suite for the whole team, seamless invoicing for receiving sponsorships, physical credit cards for every team member, automated cheque sending, transactions with no hidden fees, taxes and legal paperwork professionally taken care of… and on and on and on.
In the year since we started working on Hack Club Bank, over 75 events have signed on to step up their finances and we’ve processed just shy of $900,000 in transactions, putting us on track to hit $1,000,000 this fall. (see our original launch post)
Today, I’m proud to announce with Major League Hacking that Hack Club Bank is the new preferred financial platform for MLH Member Events.
Major League Hacking is the largest network of hackathons in the world, with over 100,000 students attending MLH events this past year alone. Today they are announcing Hack Club Bank as their new preferred financial platform for their 250 events happening in the 2019–2020 school year.
As a part of this partnership and launch, we’re working with an incredible flagship event using Hack Club Bank to run their team and events this year. Spectra is an amazing college hackathon in the San Francisco Bay Area for women in tech, and we’re thrilled to have them return to Bank for their second year this year in organizing their hackathon.
Hack Club Bank is officially open for all MLH events in the US today. Apply now: https://hack.af/bank/
If you’re thinking about running your next event on Bank to join our growing community of hackathons and hackers, visit hack.af/bank to check out everything we provide, and apply with your event!
Hope to see you at your next hackathon,
Linus and the Hack Club Bank team
P.S. I’m joining the Hack Club Bank team to lead feature development and look forward to getting to know the community. See my post here on why I’m excited to join the Hack Club team.
