Financial and Org. Structure

Financial Process

Deep Work is a collective of designers who have shared responsibility of the studio's profits through its token. Our finances are managed by a series of business units.
Current balances can be seen live on a Dune Dashboard:
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Organisation Structure

The following organisation structure operates through Deep Work Ltd, a British Virgin Islands Limited Company.

Revenue

Clients pay Deep Work Ltd.
Projects before 1st of June 2022: Clients (revenue) pay in USDC on Ethereum mainnet to a project wallet.
Projects starting after 1st of June 2022: Clients (revenue) pay in xDAI on Gnosis Chain to the project wallet of the Creative Director leading the project. Each wallet is a mulitsig controlled by all Creative Directors.

Projects - Design

Funds in the project wallet are spent on project costs:

Costs

The following team costs are paid out of the project wallet:
  • Team costs: e.g. Facilitators, Product Designers, User Researchers, and Creative Directors.
  • Recruitment and mentoring bonuses: costs paid to team members to recruit and mentor collaborators.
  • Collaborator payments: additional team members upskilling into Deep Work.
  • User testers: fee paid to user testers.
  • Product creator: a commission paid to the creator of the product.
The following operational costs are paid out of the project wallet:
  • User testing

Gross Profit

After the costs outlined above, we establish a gross profit from projects. This goes to the treasury.

Expenses

The org then has the following expenses from the gross profit. Funds can be distributed from the treasury on two ways:
Monthly Finance and Budgeting Process:
Funding Request:

Departments

Departments request funding as part of a monthly finance and budgeting process.

Operations

Operations communicate with all stakeholders and business units to work on the organisation design and process of the organisation and products.

Consultancy

When a project runs, a 5% referral fee is budgeted, if there is no referral, then the 5% funnels into a Consultancy unit. At the end of each month, creative directors split the amount between them as a bonus for running consultancy calls to be fairly compensated for the time.

Awareness

Awareness wants to transform the tech industry to be more conscious of good and human-focused design. Share learnings, design approaches, zero-cost tools, and a novel perspective. Every two weeks the team writes social media posts on Twitter and Instagram and reviews the performance.

Community

Weave a stronger network of individuals in the Deep Work community by providing creative, non-work related and low-pressure activities. Also represent Deep Work externally, organise in-person events and explore new interactions among members.

Finance

Run the finance and token management month to month. Making sure everyone is paid.
Design
Is at an extension of project's design. There is a budget for updating design processes and managing the department.

Operational Costs

Costs paid for software and user testing.
Please note, operational costs is made as a payment to Deep Work Studio Limited, a UK Limited Company. The USDC or xDAI is converted to euros which covers operational costs in FIAT. The UK Limited makes a small surplus profit to maintain software and other FIAT costs if there is a down period in client revenue.

Profit Share

A request can be made to the treasury to share a percentage of the gross profits to members of the collective:

Net Profit

It is intended that the USDC or xDAI Treasury will be fully distributed (spent). Once a governance proposal is raised, funds must still be made through a payment request and invoice. Therefore, the collective will make a net profit of zero. As a note on taxes - with no profit, Deep Work Ltd will pay no corporation tax on profits.
As a global organisation is up to the individuals in the collective to pay income taxes on any income made from Deep Work. This avoids double taxation at a corporate and individual level. To make sure individual taxes are paid, Deep Work checks all invoices from team members and makes participants agree to pay taxes.

DEEP Token

The following balances of tokens are in their respective wallets. For more information on the token distribution, please see: https://docs.deepwork.studio/deep-work-onboarding/background-and-introduction/deep-token/distribution

Corporate Structure

  • Deep Work Ltd - a limited company that invoices clients, pays teams members and distributes tokens representing participation and work.
  • Deep Work Studio Limited - an operational company that invoices Deep Work Ltd and manages certain aspects on behalf of Deep Work Ltd.