Difference between revisions of "Finances"
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=Financial Information= | =Financial Information= | ||
==Current Monthly Expenses== | ==Current Monthly Expenses== | ||
As of second quarter | As of second quarter 2018, we pay roughly $12,000/month for various expenses. Prior to the building purchase on December 7th, 2016, our expenses often exceeded $17,000/month, requiring us to borrow over $80K from community members. Once the bulk of these loans have been repaid, we expect our monthly recurring expenses to dip down to a more comfortable $10,000/month - however, these calculations do not include various unexpected costs, such as roof repair, sewer lateral, etc. We are attempting to build a capital reserve fund with a combination of event rental income as well as grants and large donations. | ||
===Mortgage=== | ===Mortgage=== | ||
Starting Jan 1st, 2017 we officially stopped paying rent and started paying off a mortgage loan! Our loan is for $975,000 at 5.5% interest, with a balloon payment due Jan 1st, 2021. | Starting Jan 1st, 2017 we officially stopped paying rent and started paying off a mortgage loan! Our loan is for $975,000 at 5.5% interest, with a balloon payment due Jan 1st, 2021. | ||
| Line 9: | Line 9: | ||
* Gas & Electric - ~$1,100/mo | * Gas & Electric - ~$1,100/mo | ||
* Water - ~$225/mo | * Water - ~$225/mo | ||
* | * Garbage & Recycling - $550/mo | ||
* Internet - $ | * Internet - $165/mo | ||
===Insurance=== | ===Insurance=== | ||
* Directors & Officers Insurance - $ | * Directors & Officers Insurance - $175/mo | ||
* General Liability - $ | * General Liability - $270/mo | ||
* Property - $ | * Property - $612/mo | ||
===Other Expenses=== | ===Other Expenses=== | ||
* Community Loans - $51,800 | * Community Loans - $51,800 repaid in 2017, $28,000 to be repaid in 2018, and $2,000 in 2019. | ||
* Dues & Subscriptions - ~$50/mo | * Dues & Subscriptions - ~$50/mo | ||
* Maintenance & Supplies - $ | * Maintenance & Building Supplies - $400/mo | ||
==Monthly Income== | ==Monthly Income== | ||
| Line 29: | Line 29: | ||
* Chiapas Support Committee: $200 | * Chiapas Support Committee: $200 | ||
* Counter Culture Labs: $2000 | * Counter Culture Labs: $2000 | ||
* Global Communication Services/YES: $ | * Global Communication Services/YES: $200 | ||
* Global Women's Strike - Omni Collective: $ | * Global Women's Strike - Omni Collective: $200 | ||
* Liberated Lens: $300 | * Liberated Lens: $300 | ||
* Phat Beets: $ | * Phat Beets: $850 | ||
* Sudo Room: $2000 | * Sudo Room: $2000 | ||
* Timeless, Infinite Light: $300 | * Timeless, Infinite Light: $300 | ||
'Total: $ | 'Total: $6500/month' | ||
===Revenue from Other Supporters=== | ===Revenue from Other Supporters=== | ||
* The [[Commons Working Group]] works with many different groups and individuals that rent out spaces in the Omni on a sliding-scale basis. On average, space rental generates between $ | * The [[Commons Working Group]] works with many different groups and individuals that rent out spaces in the Omni on a sliding-scale basis. On average, space rental generates between $4000-$6000 each month. A fun working group that could always use more volunteers, [ping the list https://lists.omnicommons.org/listinfo/commons] to help with event coordination! | ||
* We are currently researching grants for capital improvement projects, such as building accessibility, kitchen remodeling, and structural improvements. Please drop us a line at fundraising AT omnicommons DOT org if you have any suggestions, or come to a [[Fundraising Working Group]] meeting! | * We are currently researching grants for capital improvement projects, such as building accessibility, kitchen remodeling, and structural improvements. Please drop us a line at fundraising AT omnicommons DOT org if you have any suggestions, or come to a [[Fundraising Working Group]] meeting! | ||
Revision as of 19:40, 3 April 2018
Financial Information
Current Monthly Expenses
As of second quarter 2018, we pay roughly $12,000/month for various expenses. Prior to the building purchase on December 7th, 2016, our expenses often exceeded $17,000/month, requiring us to borrow over $80K from community members. Once the bulk of these loans have been repaid, we expect our monthly recurring expenses to dip down to a more comfortable $10,000/month - however, these calculations do not include various unexpected costs, such as roof repair, sewer lateral, etc. We are attempting to build a capital reserve fund with a combination of event rental income as well as grants and large donations.
Mortgage
Starting Jan 1st, 2017 we officially stopped paying rent and started paying off a mortgage loan! Our loan is for $975,000 at 5.5% interest, with a balloon payment due Jan 1st, 2021.
- $5,365.61 + 5.5% ($312.28) = $5,677.89/mo
Utilities
- Gas & Electric - ~$1,100/mo
- Water - ~$225/mo
- Garbage & Recycling - $550/mo
- Internet - $165/mo
Insurance
- Directors & Officers Insurance - $175/mo
- General Liability - $270/mo
- Property - $612/mo
Other Expenses
- Community Loans - $51,800 repaid in 2017, $28,000 to be repaid in 2018, and $2,000 in 2019.
- Dues & Subscriptions - ~$50/mo
- Maintenance & Building Supplies - $400/mo
Monthly Income
Revenue from Member Collectives
- Art Bison Design Coop: $450
- Bay Area Public School: 90% of donations received
- Chiapas Support Committee: $200
- Counter Culture Labs: $2000
- Global Communication Services/YES: $200
- Global Women's Strike - Omni Collective: $200
- Liberated Lens: $300
- Phat Beets: $850
- Sudo Room: $2000
- Timeless, Infinite Light: $300
'Total: $6500/month'
Revenue from Other Supporters
- The Commons Working Group works with many different groups and individuals that rent out spaces in the Omni on a sliding-scale basis. On average, space rental generates between $4000-$6000 each month. A fun working group that could always use more volunteers, [ping the list https://lists.omnicommons.org/listinfo/commons] to help with event coordination!
- We are currently researching grants for capital improvement projects, such as building accessibility, kitchen remodeling, and structural improvements. Please drop us a line at fundraising AT omnicommons DOT org if you have any suggestions, or come to a Fundraising Working Group meeting!
Financial Statements
Sudo Room (Nov 2013-Nov 2016) > Omni Commons (Nov 2016-Current)
- 2016 Profit & Loss: File:OC ProfitAndLoss 2016.pdf
- 2016 Balance Sheet: File:OC BalanceSheet 2016.pdf
- 2015 Profit & Loss: File:Sudo ProfitAndLoss 2015.pdf
- 2015 Balance Sheet: File:Sudo BalanceSheet 2015.pdf
Omni Oakland Commons
- 2016 Profit & Loss: File:ProfitAndLoss 2016.pdf
- 2016 Balance Sheet: File:BalanceSheet 2016.pdf
- 2015 Profit & Loss: File:ProfitAndLoss 2015.pdf
- 2015 Balance Sheet: File:BalanceSheet 2015.pdf
- 2014 Profit & Loss: File:ProfitAndLoss 2014.pdf
- 2014 Balance Sheet: File:BalanceSheet 2014.pdf
990 Tax Forms
Sudo Room (2013-Nov 2016) > Omni Commons (Nov 2016-Present)
- 2016 Form 990: File:OC 990 2016.pdf
- 2015 Form 990N: File:Sudo 990 2015.pdf
- 2014 Form 990: File:Sudo 2014 990.pdf
- 2013 Form 990: File:Sudo 2013 990.pdf
Omni Oakland Commons
- 2016 Form 990: File:OOC 2016 990.pdf
- 2015 Form 990: File:OOC 2015 990.pdf
- 2014 Form 990: File:OOC 2014 990.pdf