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This was what I always aimed at, but as people's payment methods expired, etc... well, I just made up the difference and didn't both to do a focused fundraise in recent years.
This part makes me consider the value of adding Patreon as an option. Because (a) they'll do the chasing bit for you if someone's card expires, and (b) it's an easy option to include for people that already subscribe to support various other ventures.
It might not be the most efficient option financially, but its popularity is a strength which could reduce the barrier to entry enough to offset that.
exteroceptive-
Patreon
I researched a lot of the providers, and Patreon would've worked for us... but, it really only works for a single person.
Open Collective is by far the better option here, it allows multiple people to be on the account and to let different people pay different bills and still be reimbursed and have it done transparently.
There is only a single reason I didn't do Open Collective sooner... you can't migrate subscriptions from PayPal.
But I will cancel all subscriptions, so if this group has their stuff together and are committed to continuing to run LFGSS (and a few of the other sites like Espruino or PignoleFixe)... then start over afresh on OpenCollective whilst you have the goodwill and enthusiasm of people to get the place into a good state, and whilst it has the extreme transparency of showing how it all adds up.
Velocio
I skimmed past the bits about sites that monetise users (and this would be that), but yes it introduces a difference.
If you changed nothing at all cost-wise today... £1 per person per month would be enough.
But... not everyone donates, at peak only 300 people did, and PayPal and other payment providers will take their cut (20p or 5-10%, whichever is greater or something like that)...
So the ideal is something more like £10 every 3 months, for ~250 people to yield around £800 per month, and therefore always have a little more being accumulated such that you have a buffer and if you ever need to add a server, there's the money to do so.
You could keep it donations based, no paywall, if ~250 people signed up to a payment structure like that.
This was what I always aimed at, but as people's payment methods expired, etc... well, I just made up the difference and didn't both to do a focused fundraise in recent years.
If I were doing this now, I would 100% set up an Open Collective https://opencollective.com/europe most bills are in € or $, and I would have someone pay the bill on a Wise card, and then be reimbursed from Open Collective... with Open Collective taking the donations, and showing how much is in the bank, etc... the transparency I wanted to give, but couldn't do via PayPal.