Event:2016/03/14 Fundraising

Omni Fundraising WG Meeting - Monday 14 March 2016

attendees

• marcus, matt s, laura, jenny, yar

mortgage loan

• chuck is going to bring someone from Beneficial State Bank to see the building
• he also had suggestions toward improving the pro formas
• need more details on the rent roll

making rent

• need to be more firm on collectives contribution toward shared expenses
• propose: 60-day notices for ending sublease agreement; sign 1-year (or 3 month) subleases instead of month-to-month to prove stable tenancy to lenders
• have an Open House to advertise available spaces to new collectives
  • include an online form application

friendly loans

• 3 leads, two $5K loans and one $10K loan
• jenny will be gone from the 17th-23rd, will try to 'close the deals' before then but may need a partner
• need to figure repayment into budget:
  • For a $10K loan: $250/month, balloon payment of $4K
  • For a $5K loan: $238 over 21 months
  • For a $20K loan:
  • For a $30K loan:
• promissory note template in the cloud (finance folder): https://omnicommons.org/cloud/index.php/s/lpxaoW407cu19An

grants

• mary ann, marcus, jenny and niki have been seshing on grants
• mary ann drafting Letter of Interest based on our Executive Summary
• niki applied to awesome foundation last week

501c3 app

• hopefully can send this out next week. still need to consent on Board of Directors (hopefully thursday) and jesse had some questions about our financials

indiegogo perks

• new sticker design, will order them imminently. current design is https://omnicommons.org/cloud/index.php/s/7OX3Muy3hHbZ6iO
• poster - can someone else bottomline this? current design is https://omnicommons.org/cloud/index.php/s/FzvNO7eOo8efmni
• tshirts - jenny in comms with screenprinting collective. current design is https://omnicommons.org/cloud/index.php/s/wvza80avkqjDCrF - did we ever ask donors their size reqs?
• cafe project can pick up the "omni regular" perk, if proposal is accepted
• once we have all the stuff together, we can schedule a day to package everything up - great volunteer opportunity

finance reform

Some proposals to be sent to the Finance WG for refining:

• Schedule regular Open Houses for coordinating communication and tours with prospective member-collectives, renters, and event renters -- Considering maybe first one on weekend of 3/19 - 3/20 or 3/26 - 3/27
• Modify sublease term -- extend to 1 year (or 6 months? 3 months?)
• Modify sublease to include a 60-day move-out notice instead of 30-day.
• Modify sublease to require delegate's participation.
• Add new item to delegate's meeting agenda: Collective Report-Backs, where the delegate from each collective shares:
  • Financial Status (ability to pay invoices, balance sheet)
  • Membership Status (health of collective)
  • Outline of any other updates / items of business
• Create Communications consultant position to ensure each delegate, and each collective are in regular communication about Omni's health (especially financial) as well as each collective's health are communicated in order to ensure information is flowing between all collectives.
• Create a Delegate's term that lasts 1 year.
• Raise rent to incorporate both a reasonable rate for use of space as well as pro-rated share of operating expenses.

action items

• follow up with screenprinting collective re: shirts [jenny]
• follow up with rooted investing [jenny]
• send email to possible lender [jenny]
• negotiate the three loans and get that money in the bank before the 31st [jenny, you?]
• Follow up with CHuck on mortgage: Laura and Matt
• Draft a CL post for Open House [jenny]
• Send proposal for updating BoD [jenny]
• invoice TIL for their lapsed insurance [jenny]
• send open invoices to collectives [jenny]