Finances

Financial Information

Current Monthly Expenses

As of second quarter 2017, we pay roughly $15,000 for various expenses. Prior to the building purchase on December 7th, 2016, our expenses often exceeded $17,000/month, requiring us to borrow 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
• Waste Management - $490/mo
• Internet - $152/mo

Insurance

• Directors & Officers Insurance - $168.67/mo
• General Liability - $550/mo
• Property - $500/mo

Other Expenses

• Community Loans - $51,800 to be repaid in 2017, $28,000 in 2018, and $2,000 in 2019.
• Dues & Subscriptions - ~$50/mo
• Maintenance & Supplies - $150/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: $454
• Global Women's Strike - Omni Collective: $564
• Liberated Lens: $300
• Phat Beets: $775
• Sudo Room: $2000
• Timeless, Infinite Light: $300

'Total: $7043 + ~$150 = $7,193/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 $2000-$4000 each month. A fun working group that could always use more volunteers, come by a meeting on 2nd & 4th Thursdays at 6pm 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 WG meeting!