Event:2016/02/15 Fundraising

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Omni Fundraising WG Monday February 15, 2016

intros

  • yar, marcus, matt, marc, david, remote-jenny

updates

  • need money. a lot.

overview of work done and work needed

  • yar: i want to craft a simple volunteer pitch for all working groups. can we answer these questions?

what has fundraising wg accomplished in past 6 months?

  • building & cultivating potential donor relationships
    • nearly secured private loan
  • changed strategy to pursue a mortgage
  • successfully participated in rectifying our accounting books - necessary for our 501c3 app and mortgage application
  • updated our rent breakdown
  • successfully blurred boundaries with the finance working group
  • talked about novels
  • fulfilling most of our indiegogo perks
  • researched many fundraising options

what work is currently in progress?

  • our mortgage application (and therefore purchase)

what work needs to be done?

  • grant applications
  • research
  • remaining mortgage todos:
    • creating & improving our financial docs. pro formas, projected budgets
    • improving rent roll (in process - proposed to delegates)
    • compiling necessary documentation - some things we still need to get
    • letters of support from neighbors & BID
    • have a professional to look over app
  • reinstating use permits. important missing pieces:
  • structural inspection from past 3 years
  • laundry list of other things
    • more comprehensive updated floorplans (fire inspection also needs that)
    • demonstrate continuous historical use of building - jenny & DK working on it (avoids $8k fee)
      • DK already scanned & annotated newspapers going back to 1934

what do we need from new volunteers?

  • skills:
  • time commitment:
  • dk: we need people working on on-paper business-plan-esque strategic vision for omni, and for specific aspects of omni focused on generating revenue such as ballroom, event booking...
    • having business plan for event booking would help get loans from people in community who are used to seeing something like that
    • we're gonna make the whole building ADA accessible! paint everywhere! pay to fly anarchists out here!
    • collaterol to excite people
    • have an online brochure advertising ballroom - have your wedding here!
  • matt's summary: enhance production, marketing, therefore making outreach easier
  • communication and coordination tasks
    • get every collective to pay with bank transfers or quickbooks, who isn't already doing it

professional

have a professional to look over app

  • DK talked to a "non-profit specializing CPA"
  • you can get "certified financial review" - they'll rubber stamp it (looks better) and they'll find bugs in your data.
    • rick from BACLT can help
    • michael the mortgage broker
    • marc: worth it. 3-5k tho
    • dk knows someone to look it over but he can't do the official stamp. friend's brother in chicago. won't look at every transaction, just overalls and spot-check stuff.
    • marc: will it significantly help our chances?
      • dk: i think it'll bump our chances. we're so young, inspires confidence.
    • we'll try the unofficial person first. need to give him access to quickbooks - everyone is ok with that
  • yar: also materials for first friday outreach - stickers, etc
  • help with our next crowdfunding campaign
    • save the omni!
    • leader, and workers
    • getting content ready
    • talking to a lot of journalists
    • networking

city stuff

  • discussion of getting zoning clearance & business tax license. maybe we should just go downtown and apply.

in-community lender

  • good for another 10k, but that's it. making less money next month. really need to figure out april rent NOW

p & l

  • DONE
  • take that, profit & loss!
  • now jesse can send 501c3 app. woo hoo!!!