Event:2016/05/02 Fundraising

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Omni Fundraising - May 2,2016

Attendess

  • Marcus, Jenny, Laura, Gwen, Matt, Mary Ann, David

Updates

  • Jenny sent out the Birdhouse, GWS, and Sudo Mesh fiscal sponsorship agreements as proposals to the consensus list, working on BAPS next
    • Real Vegan Cheese voting on it tonight. Sent final draft of fiscal sponsorship agreement to Liberated Lens and waiting to hear back from Liz
  • Laura emailed about setting up meeting with new treasurer, hasn't heard back; just emailed Scott re helping w social media and The Mess for a check-in.
  • Marcus, re newsletter: will as each collective to create and submit a story to the newsletter committee each month for selection; have created items/topics for next newsletter; decided to put an actual calendar for the month as an insert in the middle fold that can be pulled out and put on the wall
  • We paid May rent, hooray! Jenny harassed all collectives with open invoices.
  • Matt: Taxes late fee cap @ $10K or 5% of gross income - will probably add up to about $2K. We can try to negotiate, write a letter requesting them to waive the fee
  • Mary Ann: Sent out letters of introduction to several Bay Area funders, received an invitation for a workshop on May 18th, 2-4pm at Northern California Community Loan Fund office in Oakland. Invitation came from the Kenneth Rainen Foundation. They said no one will give us grants for building upgrades until we buy the building - grants for projects, but not upgrades. Recommended Beneficial State Bank. After conversation, the loan fund officer became more interested once he realized that we are actually non-profit. Will talk to his manager and referred Mary Ann to the COnsulting Department. They are giving a workshop on nonprofits buying buildings. We signed up. MA talked ot the consultant and she said we need consulting. They charge for their services.
  • David: in contact with Rainin Foundation that is highly involved with NCCLF. Meeting is tomorrow.
  • David also has been meeting with other foundations about various things including starting a trust that would fund community spaces. Met with Jack Sawyer yesterday - main guy behind parker st foundation. Similar to cohousing. Buy buildings and they release them back to the people who are living in them. 3 things came out of that meeting:
    • 1. Not willing to be a guarantor
    • 2. Even with substantial assets he is required to be a guarantor for the loans involved. Recommended Fremont Bank and Community Bank of the Bay
    • 3. Even though we have had this building assessed by many different kinds of groups there are officially licensed appraisors and it would be good to have that in our loan application portfolio
  • At meeting with John, David brought up possiblity of him being loan guarantor - he isn't. He appears open to the possibility of doing a seller financed sale. Needs more info about tax implications. John is going to talk to Mary and a CPA. Suggests making an overview presentation of the Omni, what we are trying to do, ownership model, how we will pay off a loan,etc.

Host an Event on Alternative Financing & Ownership Models

We discussed an idea to have an event to discuss alternative financing and ownership models for non-profits/community spaces, and overcoming barriers to non-profis negitiating the challenges of applying for loans, real estate owenrship, keeping property in hands of community. Develping solutions at scale to help muliple orgs. Tentative date June 24.

Possible attendees

  • Community Land Trusts
    • BACLT
    • OCLT
    • SFCLT
    • NCCLT
    • Community Venue Spaces
    • Lobot
    • Humanist Hall
    • La Pena
    • Qilombo
    • Liberty Hall
    • 924 Gilman
    • Merchants of Reality
    • SOLspace
    • LOLspace
  • Other Non-profits
    • Open Library of Richmond / Internet Archive / Foundation Housing
  • Co-housing communities
    • East Bay Cohousing
  • Potential Guarantors
    • Matt's friend
    • Friend of the sudo room
    • David's friend

Action Items

  • order IndieGoGo perks: stickers, shirts, posters [Jenny]
  • Fictitious Business Names (reapply): Omni, Sudo, Mesh, Agua Viva [Jenny]
  • Finish chart of accounts [Matt]
  • Resolve 501c3 app remaining issues (see email from Jesse)
  • Start sub accounts for all fiscally sponsored projects - BAPS, Birdhouse, GWS
  • incorporate fiscal sponsorship admin charge (sudo mesh, BAPS, RVC) into qb
  • figure out accounting for non-cash donations, ex sudo mesh routers
  • Send out May utilities invoices [Jenny] - done 5/2
  • Email scott re omni communications [Laura] - done 5/2
  • May Newsletter - Robb and Marcus - https://docs.google.com/document/d/1-gVmy5IIYqTUS1tXGrCss0-SLnBpKtib8cxSAAb5qoc/edit#
  • Draft and print new sublease agreements for Sudo, CCL, TIL, CSC, Buried Seeds, FNB, Phat Beets for Thursday
  • Draft and print fiscal sponsorship agreements for Liberated Lens, GWS, Birdhouse, Sudo Mesh, RVC, BAPS [Jenny]
  • Call Beneficial State Bank to check in [Laura]
  • Make brochure / advertisement for available rentable spaces in Omni [Matt]

Recent Meetings

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