Event:2018/09/10 Finance

Finance/Fundraising Meeting - 10 September 2018

= attendees = Laura, Brian, Marcus

= last meeting's action items =
 * Fill out tax assessor business equip/property forms
 * Brian - call to get copy of audit appraisal work papers, then we need to complete the forms
 * Brian: Everything we thought about this was wrong.  First, if we aren't contesting this then we currently have no action items.  This is just letting us know how much equipment they -think- we have.  Apparently they sent us a form to fill out in February and we didn't return it.  The $23,000 is just their estimate of how much equipment they had based on nothing.  I talked to the guy who filled it out and he said basically "We didn't hear back from you so I just guessed basically".
 * Brian Cont: The amount of tax is usually 1.1-1.3% of the value of the equipment.  This means we'd be paying something like 250-350 a year for our equipment without any other actions taken.  We'll get a tax bill in February for that amount and we can pay it as normal.  The thing we received is not a tax bill, and technically requires no response.
 * Brian Cont: There are two things we -can- do if we want to though.  First is getting a nonprofit exemption from that.  They are mailing us that form and we should receive it soon.  If we apply for the nonprofit exemption (which is different than the property tax exemption) then we should just pay the tax when they ask for it, and do the exemption application as a separate process.  The second is that we can contest their evaluation, and we have 60 days from September 6th to do that if we want to.  If we choose to contest we'd have to fill out the form, go through an appeals process which takes about two years, and pay a nonrefundable $50 fee.  There are also some actual physical hearings we'd need to go through.  We can discuss the action items.
 * Laura will send out doodle for massive than you note/acknowlegement letter party - sent out 8/28
 * Laura - OOC taxes. Done. Paper copy of 990-N filed in cabinet. Other documentation in drive.
 * Laura - add trash pickup. Called and added 8/28 to start week of 9/3. Waiting for call from route manager to confirm pickup days. Done. FNB will put out bins for Tuesday pickup. Sudo will put out recyling for Thursday. Phat beets will put out bins for friday.
 * Laura - ballroom measurements to fire inspector
 * Jenny - schedule office cleaning work party for after 9/15
 * Brian - check with Needa re Dan as signer and followup. She is generally in favor and Dan and Brian will present her with the details when they get them.
 * Brian: Done, Checked with Needa and Dan.  A contingent is going on Wednesday at 11AM to get bank info.  Will discuss options with Needa afterwards.
 * Followup on overdue rents: Laura talked to Max (phat beets) and he doesn't handle rent. Asia does, and wasn't there.  They have gotten their own 501c3 approval from the IRS, but they are having trouble getting money out of their fiscal sponsor and that may be why they are delayed.

= updates =
 * Brian - Questions about Unify Check Mailing Program. (I'm pretty sure I did it wrong).
 * Omni has received a letter from Alameda County Tax Collectors office asking us to pay the taxes.
 * *Brian spoke with assessor's office about prop tax exemption. They confirmed they have received it and it is in tracking document. they are hoping to send someone for a physical visit by the end of the year (but they have been saying something to this effect for over a year now). We got another

= action items =
 * Brian: Call the tax collectors office and let them know that we are waiting on the tax exemption. "Its not that we dont want to pay our taxes, its that we don't owe the taxes".
 * Brian: CAll other nonprofits I've worked with, ask if the new law effects their independant contractor bookkeepers.
 * Laura: turn contractor hiring process draft and new member collective process into proposals and put on pad.
 * Brian and Dan (Maybe Jenny) going to CBOB and Beneficial to get information. Will talk to Needa afterwards (and Finance)