Difference between revisions of "Event:2015/09/28 Fundraising Working Group"

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(copy from pad)
 
(remove redundant stuff from prior week)
 
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* Edit Charitable Activities response: https://pad.riseup.net/p/omniactivities
 
* Edit Charitable Activities response: https://pad.riseup.net/p/omniactivities
 
* Reply to RIck - Laura will draft
 
* Reply to RIck - Laura will draft
------
 
 
Omni "Buy the Building" working group meeting - Monday September 21, 2015
 
 
=Attendees=
 
* Laura, Yar, Robb, Jenny, Fred
 
 
==Update on Lender==
 
* see laura's email - lender is afraid of being the bad guy, and wants a shorter term. impressed by $1M donor, thinks we should find another one
 
* won't donate himself, but says "not my project"
 
* rob: sounds like maybe he doesn't want to loan. telling you to do something else...
 
* laura: i think we can meet his terms
 
* need to clearly outline what happens in case of default and how loan is secured, in order to protect him & his reputation
 
* 10 years max, but we could propose a lower interest rate
 
* not keen on grace period - made him curious about our cashflow
 
* matt's going to write up projections of loan terms, interest rates, etc
 
* need to show how omni is related to internet archive
 
* robb: what if sudo was the fiscal sponsor of the omni?
 
* need to show him a business plan
 
** jenny: maybe ask the berkeley business students to help us?
 
** need to account for potentially 2 years of paying property taxes before we get refunded w/ welfare tax exemption
 
 
= New Donors =
 
* Laura has an outreach plan a couple weeks from now
 
 
= Owner Financing? =
 
* $750,000 down payment was discussed before the lease was signed bit there is nothing in the lase or option to purchase.
 
* much talk around the subject of the owners' personal qualities
 
 
=501c3 App=
 
* Fiscal Sponsorship Resolutions:
 
** we can imminently sign one with sudo mesh (jenny was delegated the decision by the board)
 
** awaiting replies from Fermentation Station, MPM, OpAl/LLC, Real Vegan Cheese & BAPS
 
** would have to get delegates consent on Thursday once we get confirmation from interested projects
 
 
* Financial Statements
 
** All collectives poked today by Matt G
 
** We have enough $ for October
 
** One of our awesome volunteer accountants was sick last week, got less work done than predicted.
 
 
=Last Week's Action Items=
 
* Digitize and send sublease agreements [Jenny]
 
** DK is looking for Phat Beets', need a sig from FNB
 
* Finish bios for BoD [Jenny] - just need Dragons!
 
* Print, sign and send updated Bylaws [Jenny] - sent 9/14, may need to edit OpAl's name
 
* Ping lender again [Jenny] - pinged 9/14`
 
* Edit Charitable Activities response: https://pad.riseup.net/p/omniactivities
 
 
=Action Items=
 
* Contact Media Alliance & SchoolFactory re: overhead for being a fiscal sponsor of multiple projects [Jenny]
 
* Arrange meeting with BACLT, Jesse, & Lender (jenny)
 
* Next Tuesday at meeting with Berkeley business law bring up idea of helping us with writng business plan (laura)
 
 
=Previously=
 
* https://omnicommons.org/wiki/Event:2015/09/14_Until_the_Revolution_Working_Group
 
* https://omnicommons.org/wiki/Event:2015/09/07_Until_the_Revolution_Working_Group
 
* https://omnicommons.org/wiki/Event:2015/09/02_Meeting_with_Jesse_Palmer
 
* https://omnicommons.org/wiki/Event:2015/08/31_Until_the_Revolution_Working_Group
 

Latest revision as of 12:01, 2 December 2015

Omni "Buy the Building" working group meeting - Monday September 28, 2015

Attendees

Brian from Kiva Laura, Matt, Yar, Joe, remote-jenny

Kiva

  • Kiva around x 10 years modeled after Grameen bank.
  • Brian's worked for Kiva Zip for 8 months. was part of Occupy, social justice groups. came here for Strike Dept. lives in Richmond, worked for RPA. interested in businesses, worked for night clubs, brother had a biofuel business. trees in bangladesh. grew up poor, working class, wants to get access to capital for groups. 4 months ago started looking into cooperative environment, went to CCCD conference in sacramento, met folks from Dig here, helped anya & maria fund something. also somebody here from a bike collective, as well as $20k for rich city rides in richmond. spoke at their cooperative conference. helped guys crowdfund. "pretty simple, i hate the banks. if people need access to capital, how can we do that?"
  • kivazip is microfiance, 3 years old. launches thursday in san francisco. raises matched lending money in the bay area. mostly SF but also oakland, elsewhere in bay area. another one coming up 3rd quarter.
  • help take care of liquidity issues, build a stronger business
  • need a picture of what you do, what you're gonna do. couple paragraphs on personal platform - "how i grew up, what i like doing".

Next steps:

   * Select an individual to represent each collective that will borrow
   * Take a picture for each collective for campaign page
   * We decide which groups will apply for loan first
   * Person fills out application
   * HAve ot get all apps running by 10/23
   * Every borrower lends $25 to another borrower
   * SF Kiva Zip launch is this Thursday at SF City Hall.

Response to BACLT

See their email from 23 Sep and draft response here: https://pad.riseup.net/p/bacltresponse

  • We should respond quickly to their direct questions about our decision making structure and accountability
  • Need to finalize terms of ground lease so BACLT can decide if they want to take on the specific work and how much they would charge us on a montly basis as part of the lease

Lender

  • We still haven't contacted Lender to set up appointment. Thinking to try to set it up for in about 2 weeks to give us time to work on ground lease. Asked jenny in the chat to do this.

New meeting time

5-7pm Monday

Subleases & Fiscal Sponsorships

  • Sudo: Sublease check
  • CCL: Sublease check
  • TIL: Sublease check
    • Durga Press:
    • Publication Studio:
  • BAPS: Sublease - request if they're willing to be fiscally sponsored instead
  • FNB: Need Helen or Joe's signature on sublease
  • MPM: Need a signed sublease or ideally further discussion re: fiscal sponsorship [Matt?]
  • OpAl/Liberated Lens: Willing to be fiscally sponsored, need to sign an agreement and be approved by the delegates
  • Sudo Mesh: Willing to be fiscally sponsored, need to sign an agreement and be approved by the delegates
  • Phat Beets: Need signed sublease (DK has it)

Action Items

  • Coordinate phone meeting w/ Jesse, BACLT and Lender [jenny] - sent a Doodle on 9/29
  • Follow up with Berkeley Business Law student practicum
  • Edit Charitable Activities response: https://pad.riseup.net/p/omniactivities
  • Reply to RIck - Laura will draft