Event:2016/08/26 In-Person Meeting with Stephaney from NCCLF

In-Person Meeting with Stephaney Kipple 26 August 2016

= Attendees = Stephaney, Laura, Jose, Jenny

Agenda:
 * Go over Pro Formas
 * Process for moving forward w/ donor & backup plan

= Donor-Lender =
 * Need to give the money to another nonprofit org that would pass through the $1m donation
 * Possibly BACLT? NCCLF?
 * Ask Jesse about Omni-affiliated orgs
 * Kenneth Rainen Foundation?
 * Jose's workplace? Movement Strategies
 * With the land trust, could you restrict the deed so that the property can only be used for nonprofit and social justice work?
 * Donor *was* into the land trust for donating, but less so for loaning. If we flake out, they don't want there to be restrictions on what they could do with the building
 * Loan could go through the land trust, in such a way that they would inherit the property if we failed to pay
 * Donation and loan will come as stock, so we have to open a brokerage account. Laura contacted Vanguard
 * Timeline: Need time to do the paperwork and move money around.
 * Open Vanguard account to receive the donation - needs to be a different 501c3 that can handle a $1m income influx
 * Need to raise funds for an appraisal ($4500)
 * New Market Tax Credit - pays for ~22% of costs, project needs to be around $7mil

Also factor in:
 * Put away 3% of Operating Income for Operating Reserve and $500 for capital reserve
 * Capital Needs Assessment ($2500-5K)
 * Sewer Lateral Inspection (upwards of $12K)
 * Roof Maintenance costs

= Action Items =
 * 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

= Old Action Items =
 * Work on pro forma [Jenny, see link below]
 * 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]
 * Apply for grants for working capital! https://drive.google.com/drive/u/0/folders/0B-AL95NlI75qMEpZX2lEMTZZRFk [Mary Ann / Marcus]
 * Post updates to our Patreon - https://www.patreon.com/omnicommons
 * Proposal for John owner-finance [Marc]
 * Proposal for donor as guarantor or owner-financier [Laura]
 * Follow up on Doodle [Jenny] - replied 8/15 suggesting the 24th or 31st
 * Contact Kapor Center contact [Jose]

= Links =
 * Previous mtg w/ Stephaney: https://omnicommons.org/wiki/Event:2016/07/13_Fundraising_Call_with_Stephaney
 * Pro Forma: https://docs.google.com/spreadsheets/d/1rvkMc5lmd8PovoViNLdvlrv0tSyvrH7iB0SmGqaFec8/edit#gid=1281242457
 * Will Omni Make It Next Month: https://docs.google.com/spreadsheets/d/1PU2CZbjRDOccfu9drVvU52xYbLl640ahbPornJkTqAs/edit
 * TValue Loan Software: http://www.timevalue.com/products/tvalue/overview.aspx
 * Business Plan: https://docs.google.com/document/d/1iVyHJ-FtFy15pdGkFzjVPphy1XAIlTY0B0ca9D7sPxY/edit#
 * Nonprofit Learning Lab: http://www.nonprofitlearninglab.org/
 * Join their mailing list: YNPNSFBA@googlegroups.com (young nonprofit professionals network)