Event:2016/09/19 Fundraising Call with Stephaney

Fundraising Call w/ Stephaney - 19 Sep 2016


 * Jenny describes the complexities of the situation with the donor-lender, namely explaining substantial contributor donations disqualified as public/charitable income after $5K, how this affects our 501c3 status (need 33.3% charitable income over 5 year rolling average), and process for obtaining an advanced ruling from IRS that the $1million donation be classified as an 'unusual grant'
 * S: What about setting up a donor-advised funds with the NCCLF? / East Bay Community Foundation
 * Still able to get the tax writeoff
 * 'Services For Donors' or 'Establishing a Fund'
 * However, fund may have to be spent over time. We don't have a lot of time.
 * S: What about having the donation go to thru Bay Area Community Land Trust or the Oakland Community Land Trust?
 * J: Again an issue of timeliness, BACLT not accustomed to commercial real estate purchases, should talk with OakCLT
 * Downside of a 2nd loan is that it ends up as liability on our balance sheet (rather than assets / equity)
 * Jenny: What if the appraisal says our building asset is actually worth 4.5 million?
 * S: Doesn't change... the asset value recorded on your balance sheet is the book value (what you purchased it at)
 * Could take market value difference as a donation ($2m donation), would show up in your equity - but doesn't work in this case as value is already set
 * S: Outside of my scope, have helped a lot of nonprofits get real estate and haven't run into these complexities... Get a second opinion:
 * Commission on Civil Rights? Lawyers for the Arts Commission?
 * Lawyers Committee for Civil Rights of the SF Bay Area - lccr.com (Krysal Cole, can intro to her to see if she has any funding sources that could fit with your project).
 * See also Lawyers for the Arts (if they serve Oakland) - they would know a lot about nonprofit law. CAlawyersforthearts.org - they do stuff in Berkeley too
 * S: Consider that it could be dangerous to have Jesse spook the donors lawyer with the IRS complexities

= Action Items =
 * Stephaney will reach out to East Bay Community Foundation re: donor-advised funds
 * Jenny will look into other recommended sources for a second legal opinion
 * Stephaney will intro us to Krystal Cole from the LCCR
 * Work on business plan to include fundraising plan [Jenny]
 * https://docs.google.com/document/d/1iVyHJ-FtFy15pdGkFzjVPphy1XAIlTY0B0ca9D7sPxY/edit
 * Send contacts re: construction estimates [Stephaney]
 * Send some fundraising plan worksheet examples [Stephaney]
 * Stephaney will look over business plan and fundraising plan and give feedback
 * look into Non-profit learning lab webinars on budgeting and planning, affordable. Join mailing list/listserv
 * YNPNSFBA@googlegroups.com