In-Person Meeting with Stephaney Kipple 26 August 2016

Attendees

Stephaney, Laura, Jose, Jenny

Agenda:

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

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

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]