Event:2016/03/07 Fundraising

Omni Fundraising WG meeting Monday March 7, 2016

who

• yar, jenny, laura, marcus, alan, matt, dk

oaklandish

• they want to publish a follow-up from last year. opportunity to get more exposure!

Requisite Loan Docs in the Cloud

at https://omnicommons.org/cloud under 'AAA Mortgage Application Documents' - Docs we don't have are in bold:

• Financials - https://omnicommons.org/cloud/index.php/s/ybQ3WCnLqAIRDkQ
  • (BSB) Interims / Year-to-Date (ie by quarter) -- periodic actual budget
  • (BSB) P & L statement
  • (BSB) Must include monthly income statements (where funds are budgeted)
    • wtf, mate?
  • (BSB) Balance sheet -- what's the difference? Do we need this?
  • (BSB) Make sure we include the rent-roll in P & L, Quarterlies, etc.
• (Matt^2) Pro Forma (projected) Budgets for 10 years that look optimistic - working doc @ https://docs.google.com/spreadsheets/d/1DCFMb5KomLhrfz1nD5QFvuEkV-LDTCsYgmfyKu-yUkU/edit#gid=123665223
• (Laura) Proof of $1M donation
• (Matt G) - Act on taxes based on feedback from Jesse Palmer (emailed 1/9) Laura is working on 2014 and will then do 2015. In touch w prof tax preparer recommnded by Rick Lewis
• Executive Summary - https://omnicommons.org/cloud/index.php/s/44AECmfynlNoOmX
• (?) Project Summary (of The Omni)
• (?) Ownership Breakdown -- principals, meaning the people -- not the organizations
  • Come up with a list of people with good credit, reputations, reliability, long-term committment, etc.
• (?) Borrower Background -- seems to mean credit, other loans, any other lending history, etc.
• (?) Evidence of city approval / support - https://omnicommons.org/cloud/index.php/s/qmXfkWsWjhqZhb0
  • Conditional Use Permit? ~3 months to receive
  • Business License? - ~3 weeks to receive, will Account # suffice?
  • Zoning Clearance
• Option to Purchase (with rest of lease) - https://omnicommons.org/cloud/index.php/s/3NI6PCPqW9TIxBA
• Proof of 501c3 (ours or our sponsoring entity) - https://omnicommons.org/cloud/index.php/s/T8FeURTcwAtdDUz
• All corporate formation documents (bylaws, articles, ein, BoD) - https://omnicommons.org/cloud/index.php/s/qdauGnU0cM4w4e3
• Evidence of Insurance (GL, Fire, Property) - https://omnicommons.org/cloud/index.php/s/grakTBA7ZR2zxMg - DK sent an email to John 3/6
• Preliminary Title Report - https://omnicommons.org/cloud/index.php/s/kd6yNBTkc9E0fv2
• Letters of Support for organization - https://omnicommons.org/cloud/index.php/s/z8VRg5mmvED8CgE
  • Can include existing organizations in omni, groups that have had events here, etc. See list under below for ideas of who to ask
• Press Coverage - https://omnicommons.org/cloud/index.php/s/lzhLI3bkf34jU1X
• Website - need to 'IRS proof'

Chuck Green - Bay Area Capital Funding Inc- (650) 631-1800 phone

• Attorney's letter regarding donation
• List of improvements -- continue to invest in the building
• Still can use some additional help -- "wishlist" or rather "itemized list" from a contractor for future improvements
• Rent Roll at some point -- fairly detailed
  • love the example
  • when they moved in, how big the space is, how much is rent, when the lease expires
• Income Statement
  • Annual 2014 & 2015
  • YTD 2016
• Will talk to non-profit lender that lends to non-profits first

Letters of Support

• Berkeley Law
• Oaklandish
• Rainen Foundation
• Southern Exposure / Andy Warhol Foundation
• SF MOMA

RENT

• Currently in the bank: ~$4K
• Total due April 1st: Rent ($15K) + Quarterly Insurance ($2K) + Utilities ($2K) = $19K
• Total $ from member collectives due: $9500
• We need to raise at least $5K, ideally $10K
  • Jenny has emailed two previous lenders asking for $10K loans to help get us through the next couple of months
  • Draft 'ALL HANDS ON DECK' email: https://docs.google.com/document/d/1tBAtLYq4Oni10yIaOf6g7I8jnVTsy0QjDAlMYVbjfW4/edit?usp=sharing
• Ping Ryan B
• Ping JPB then ask Alan's friend Matt to follow up if he doesn't reply
• Rent out the basement - start showing it to groups
• Rent out the inner room in the basement for audio production?
• Ballroom rental that doesn't involve public events?
  • Rehearsals, choirs, plays,
• Kiva Zip loans - two $10-15K loans or roughly ~$25K - two weeks to pull the application together and a month to earn the $

Reimbursements from John

• ADA Improvements: Front door, bathroom, lift, door widening + labor (talk to Enoch, Ryan G, Jake, Jack, Sarah W)
• Any necessary improvements to pass fire inspection [fire extinguishers + certification, electrical fixes, emergency lighting and signage]

Grant writing meeting

Marcus, Jenny, MaryAnn, Niki met to discuss writing grant apps

• David wrote to Rainin Foundation yesterday
• Jenny emailed Nor Cal Grantmakers foundation for for an emergency loan
• Created spreadsheet of current foundations to approach

https://docs.google.com/spreadsheets/d/1_eJl9qxM2gNSUCtxtfRq9uBAqNYGuj4_RwtmMCIxZkI/edit?ts=56da57cb#gid=0

Previously

• https://omnicommons.org/wiki/Event:2016/03/04_Fundraising_at_Mary_Anns
• https://omnicommons.org/wiki/Event:2016/02/29_Fundraising
• https://omnicommons.org/wiki/Event:2016/02/22_Fundraising
• https://omnicommons.org/wiki/Event:2016/02/15_Fundraising
• https://omnicommons.org/wiki/Meetings