Event:2016/01/04 Fundraising

Omni Fundraising WG Meeting Monday January 4, 2015

=Attendees= Laura, David K, Yar, Matt S, remote Jenny

=Broccoli F/U=
 * We haven't heard form Broccoli. We are wondering what is going on and if/how we should communicate with him.
 * David will go to see Rick P on Wednesday to talk to him about what he thinks about how to approach this.
 * Matt S will ping Broccoli.
 * Yar: suggests Hey B I have a stupid question. I don't understand what this "us and them" thing is. Explain it to me like I was 5.
 * More discussion about what to say in the Ping. marcus: where is the ping?
 * After a lot more discussion, Matt sent

=501c3 app=
 * Financial Statement - almost done reconciling the books, Jenny will ping Kelly and Loren
 * Subleases - still need agreements from MPM, Birdhouse, GWS, Liberated Lens
 * Laura: I have actual sublease forms
 * Matt: We should jsut tell them they will be evicted.
 * David: That sounds a bit harsh.
 * I did mention we'd have to terminate the sublease w/ MPM if they didn't sign, then apologized if it sounded harsh but they were very understanding that the current situation dealing with the lease and fundraising is difficult work others are doing for the benefit of all collectives
 * More discussion of this. Difficulties MPM has been having.
 * MPM seemed down once i told them the signer was not liable, just need to follow up again. OK Maybe just show up at a meeting with the lease prepared and ready to sign.
 * David said there are actual Omni subleases that Jesse wrote. He may have them in his personal G Drive. We got em. Are they in the cloud now? doing that now :)
 * A blank sublease doc has been uploaded to the cloud under Omni Legal Docs -> Sublease Agreements

=CU Mortgage/Loan=

Banks have been contacting David to follow up
 * https://docs.google.com/spreadsheets/d/13Vc3hMMrtX9Yl67fL5nT700Xrm4NGEy_sgSZtV-ktow/edit#gid=1036699846

TODOs
All for Omni as a whole (not for each member-group): jazz hands
 * (ask Matt G to get a presentation from finance?) Get from bookkeepers:
 * Interims / Year-to-Date (ie by quarter) -- periodic actual budget
 * P & L statement
 * Must include monthly income statements (where funds are budgeted)
 * Balance sheet -- what's the difference? Do we need this?
 * Don't want to seem like we were running behind and not on top of our finances.
 * Project Budgets (for any non-profit projects we conduct)
 * Make sure we include the "rent roll" in P & L, Quarterlies, etc.
 * Documentation of any grants.
 * (Finance WG + Fundraising WG? -- Matt S is in) Create Pro Forma (projected) Budgets for 10 years that look optimistic
 * Reach out for accountants who might be able to help or donate labor to make Pro Formas "look good"?
 * Don't want to seem like we're running behind
 * Who? Mary from Strength in Numbers might be able to recommend, Niki talked to someone
 * (Laura) Ask Jesse how proof of million donation can be obtained and still maintain donor anonymity.
 * Does an escrow account work?
 * can it wait until the last second?
 * (Matt G) Did we file the taxes?
 * I hope we did
 * Executive Summary (at some point)
 * Project (of The Omni) summary
 * Ownership Breakdown -- principals, meaning the people -- not the organizations
 * Borrower Background -- seems redundant, need to clarify
 * Evidence of city approval / support
 * Conditional Use Permit?
 * Business License?
 * CA Seller's permit (if applicable)
 * Option to Purchase (with rest of lease)
 * Our shared docs only have the unsigned copy of the lease - DK can you upload a signed one to the cloud?
 * Proof of 501c3 (ours or our sponsoring entity) -- specifically use FNB until we obtain our own status.
 * All corporate formation documents (bylaws etc)
 * Bylaws: https://omnicommons.org/cloud/index.php/s/vq3CEMxkz0IOaMj
 * Articles: https://omnicommons.org/cloud/index.php/s/e0cJ9W5MEoGgTFU
 * Names of Board of Directors (other contact info?)
 * https://docs.google.com/document/d/15tq20ptUPe_qTPLEEynvQwSFbWtuGsFbVpy4AOGcoec/edit
 * Evidence of Insurance (GL, Fire, Property)
 * Preliminary Title Report
 * Letters of Support for organization
 * Can include existing organizations in omni, groups that have had events here, etc.
 * Articles & media coveragee of project
 * Website
 * Other documents??

List of Desirable Documents for Lenders
Standard documents we provide to any bank (of Omni, not necc. member groups):
 * Financial docs (pref. 2 years' worth)
 * Income statement aka Financial Statement
 * Balance sheet
 * Profits and Losses Statement
 * Tax Return and if applicable IRS Form 990
 * Pro-forma (5-10 year projections) - expected revenue and expenses, defined in terms of 'Sources' and 'Uses'

Docs above should include within them:
 * Rent roll
 * Project Budget
 * Doc. of any grants
 * Proof of the $1M (donation)

Executive Summary of the enterprise, including:
 * Project summary
 * Ownership Breakdown
 * Borrower Background
 * Other possibly-required add'l documents
 * Evidence of city approval / support
 * Option to Purchase
 * Lease
 * Proof of 501c3 (ours or our sponsoring entity)
 * All corporate formation documents (bylaws etc)
 * Names of the board of directors
 * Evidence of Insurance (GL, Fire, Property)
 * Preliminary Title Report
 * Letters of Support for organization
 * Articles & media coveragee of project
 * Website

We are starting a "triple A mortgage application documents" doc of this list in the cloud to be the place where we keep track of what we are doing and we are starting a folder to put all the completed documents in.

= IndieGoGo Followup =
 * https://pad.riseup.net/p/indiegogofollowup
 * Jenny and Marc need a few more things then hackpacks are a go to get sent out
 * Marc wrote a sweet little app for printing out address labels from a labelmaker in CCL
 * Need to order stickers, posters and tshirts - Joel sent designs, Jenny sent some copyedits and is waiting for his next draft - will upload the current designs to the cloud and put the location here shortly
 * Still need to send out an update, Jenny will work on that tonight

= Other Action Items =
 * Financial Statement (Jenny / Matt G / Bookkeepers)
 * Buried Seeds sublease (Laura)
 * MPM sublease (Jenny)
 * Liberated Lens sublease (Jenny)
 * FNB sublease SIGNED (Thursday, Matt S can find the original in my room if I'm not back)
 * Finalize designs for swag and order (Jenny / Joel)
 * Finish hackpacks and send (Jenny / Marc)
 * Send out IndieGoGo update (Jenny)
 * Send out email to event renters (Laura / Yar)

= Previously =
 * https://omnicommons.org/wiki/Event:2015/12/28_Fundraising
 * https://omnicommons.org/wiki/Event:2015/12/21_Fundraising