Event:2016/03/07 Fundraising
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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