Event:2016/08/26 In-Person Meeting with Stephaney from NCCLF

In-Person Meeting with Stephaney Kipple 26 August 2016

Attendees

Stephaney, Laura, Jose, Jenny

Agenda:

• Go over Pro Formas
• Process for moving forward w/ donor & backup plan

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

Action Items

• 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

Old Action Items

• 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]

Links

• Previous mtg w/ Stephaney: https://omnicommons.org/wiki/Event:2016/07/13_Fundraising_Call_with_Stephaney
• Pro Forma: https://docs.google.com/spreadsheets/d/1rvkMc5lmd8PovoViNLdvlrv0tSyvrH7iB0SmGqaFec8/edit#gid=1281242457
• Will Omni Make It Next Month: https://docs.google.com/spreadsheets/d/1PU2CZbjRDOccfu9drVvU52xYbLl640ahbPornJkTqAs/edit
• TValue Loan Software: http://www.timevalue.com/products/tvalue/overview.aspx
• Business Plan: https://docs.google.com/document/d/1iVyHJ-FtFy15pdGkFzjVPphy1XAIlTY0B0ca9D7sPxY/edit#
• Nonprofit Learning Lab: http://www.nonprofitlearninglab.org/
  • Join their mailing list: YNPNSFBA@googlegroups.com (young nonprofit professionals network)