Event:2016/04/30 Omni GOST (Getting Our Shit Together) Work Party

Omni GOST (Getting Our Shit Together) Work Party - Saturday 30 April 2016

Updates

• April newsletter is out, template for 11x17 printing in progress, we printed them in house, time to work on May!
  • Need to hand out in the neighborhood. Setve M had said he was willing (may come by today). Jeremy can help.
• Matt needs to reschedule meeting w loan officer from Wells Fargo. Gave a good advice: demonstrate how income streams will last in the pro-formas.
• Matt also met with potential guarantor who wants to be anonymous, SUDO room member referred
• Jenny met with BAPS and Steve is coming in today to sign the fiscal sponsorship agreement, but seems like terms are not specifically resolved yet
• Lib Lens is interested in FS if dont have to pay insurance, ready to sign
• GWS, Birdhouse agreements ready to print and sign
• Matt: BID - try to get them to fund conflict resolution and anti racism training? Find ways to use funds in their budget that aren't being used
• Laura has 2015 tax extension ready to mail
• Not much progress was made on Chart of Accounts
• All COIs are now in the cloud, Jenny has printed them, DK (hopefully) meeting with John on Monday to give May rent check, COIs for plumbing sign off, and signoff for Capoeira event
• Laura met someone at the bookfair, Scott, who ran their social media, interested in doing it for Omni
• Jose from Chiapas Solidarity is a nonprofit accountant! And he wants to be Omni's new treasurer! Laura will email finance wg to set up meeting to start on-boarding
• Robb suggests converting the two basement rooms into a recording studio, advertise on Craigslist, add it to the pro forma as an income stream - will bring to Commons or Delegates Mtg

Discussion ITEM: Insurance and fiscal sponsorship

• FAQ's for fiscal sponsorships (for research purposes only)
  • http://schoolfactory.org/services/faq#h.yvq7cl7fcu6v
  • http://springboardforthearts.org/incubator-program/incubator-fiscal-sponsorship-faq/
  • http://www.nonprofitexpert.com/fiscal-sponsorship-an-alternative-to-creating-a-nonprofit/

Discussion of Lib Lens new room

New space for Lib Lens needs to be articulated in the fiscal sponsorship agreement. Idea to give them Blue Classroom. Offer ticket booth room the BAPS for their stewardship instead. BAPS may not be using much OMni space in the future. Their books can be moved to ballroom mezzanine bookshelves. They aren't maintaining that room.

Check in on May rent

• $12,600 currently in bank
• $6,902 should come in on Monday = $19,504
• Current known bills: $15,257 (rent) + $975 (PG&E) + $153 (Internet) + $250 (EBMUD estimated) = $16,635
• $2869 remaining
• Current open invoices: GWS ($600), BAPS (?),
• Known May rental event income: $2500
• Still need to invoice collectives for May utilities (see New Rent Roll: https://docs.google.com/spreadsheets/d/1O8nDyJsiMzCanXFyllUUrjG5ergodGnJVkWljew6-eA/edit#gid=0 )

Action Items

• Jenny: order perks: stickers, shirts, posters
• Go through all fs agreements to ensure are ready
  • LibLens - Location TBD, consent tmrw (Sunday) hopefully
  • RVC - Board decision on Monday
• Fictitious Business Names (reapply): Omni, Sudo, Mesh, Agua Viva [Jenny]

Finance

• Finish chart of accounts - Matt
• Resolve 501c3 app remaining issues
• Start sub accounts for all fiscally sponsored projects
• incorporate fiscal sponsorship admin charge (sudo mesh) into qb
• figure out accounting for non-cash donations, ex sudo mesh routers
• Send out May utilities invoices [Jenny]
• Update Promissory Note agreements to the cloud [Jenny]

Relevant Finance / Tax Info Links

• Assets inventory for the books, useful info on how to do this here: http://extension.missouri.edu/staff/fiscal/documents/QuickBooks/assets/Instructions_for_Fixed_Assets.pdf
• Non-profit tax filing research https://www.councilofnonprofits.org/tools-resources/federal-filing-requirements-nonprofits
• Penalties for 2014 non-filing https://www.irs.gov/Charities-&-Non-Profits/Annual-Exempt-Organization-Return:-Penalties-for-Failure-to-File

Comms

• Laura will email finance wg to set up meeting to start on-boarding Jose
• Laura email scott re omni communications
• HAnd out newsletter in neighborhood - jeremy - got all of 48th, shattuck across the way, and 2 houses in on dover. we're printing out 20 more to get the remaining folks on dover.
• MPM invoice question - jenny - replied 4/30
• Ask Birdhouse to upload their photos to the cloud - jenny asked maggie and made her an account 4/30
• Set up meeting with Mess RE their status and rent owed
• Start may newsletter and decide on schedule. Robb and Marcus - Send all photos to the cloud.
  • Newsletter: https://docs.google.com/document/d/1-gVmy5IIYqTUS1tXGrCss0-SLnBpKtib8cxSAAb5qoc/edit#

To Print for Thursday

• Birdhouse & CCL COI
• New sublease agreements for Sudo, CCL, TIL, CSC, Mess, Agua Viva, Buried Seeds, FNB, Phat Beets
• Fiscal sponsorship agreements for Liberated Lens, GWS, Birdhouse, Sudo Mesh, RVC, BAPS