Event:2016/06/13 Fundraising

Omni Fundraising Meeting - 13 June 2016

Attendees

• Kristin, Laura, Jose, Marcus, Jenny, Matt, David

Updates

• Follow up from meeting with Stephaney NCCLF- DONE
  • Requested docs were sent to her.
  • Jenny set up a Google Drive folder for all the loan application documents, including Stephaney: https://drive.google.com/drive/folders/0B4_Q7DQvNFT-ZU9qdjRlaFlUdlk
  • Next steps are to ping her about receiving docs, and to attend the next workshop
    • https://www.eventbrite.com/e/arts-and-culture-nonprofits-real-estate-readiness-part-ii-of-ii-tickets-25340506136?aff=erelexpmlt
  • Evidently 95% of projects she takes on get funded
  • Will give us feedback on any weak points / liabilities in our application
  • Marcus will ping Stephaney: we want to work with her so what do we need to do to formalize the relationship? ask her to look at what should go in the folder/look at checklist; does she have an example of these docs (business plan, pro-formas etc) that we can use to format ours? We are interested in pursuing a New Market Tax Credit.
  • David will work on improving/updating the proformas, wants to take into account big projects to get New Market Tax credits
    • Stephaney consults specifically on NMT program. Very complicated. Matt checked and we do qualify.
  • Jose can get us an example of a 10 mill budget
  • Here's what Stephaney can do:
    • Help review your business plan, pro formas, and overall presentation "packet" for lenders. Able to give scrutiny and tell us what's important.
    • Warn us about apparent risk factors that will matter (liabilities scruitinized or to
    • Get our application real-estate-ready.
• Counterpulse @ 80 Turk got a New Market Tax Credit, must have budgeted $5mil+, smaller space than Omni

• Reports from the NCCLF workshop
  • Lots of groups looking for space, we made lots of connections to great groups looking for space
  • NCCLF has worked with Destiny Arts Center, Girls Inc, and Flightdeck
  • Apparently Joanne has experience working with "multi-use" spaces

1023 App

• Marc meeting with Jesse this week to answer some questions about fiscal sponsorship
• Jenny and Jose are going to go over the bank statements and reconcile the books one last time
• Once the Quickbooks reconciliation is finalized, can send financial info to the tax person

Taxes

• We need to file 1099s for Mike and Jesse (& Jim Gallagher? Tony?), they are late
• Jose will look into how to do it, sould be able to do it through QBs
• Calculating depreciation of fixed assets - tax preparer will do

Discussion of how to deal with the work load of this process

• David, Matt, Jose, have full time jobs
• Laura feeling burned out and having trouble concentrating. Asks if people would benefit from having dedicated work time when we were all here to work on whatever needed doing to get this mortgage
• People agree this would be helpful, more efficient
• Agree to Thursdays at 3pm
• IF we ID other tasks we can farm them out to to other people
• Prepare for delegate meetings better

"So what you're saying is... people pay to volunteer." - John Givens

Brainstorm on Pro Forma

• Elevator from basement to the roof
• Roof repair/replacement
• Roofdeck & food forest
• Fire sprinkler system
• Solar panels
• Soundproofing the Disco Room
• Refinishing the ballroom floor
• Staff positions (event management, security, A/V, full-time cleaning staff)
• Recording studio
• Replace windows w energy efficient windows
• Electrical system up to code
• Commercial kitchen renovations
• bathrooms renovated with water efficient fixtures
• central heating, cooling and air flow
• Embedded A/V and projection setup in all assembly spaces
• Take out disco floor and finish floor as a rehearsal, performance, and meeting space
• Repair/replace all floors
• Repair/refinish stairs
• build a mezzanine work area in the sudo/ccl room space
• upgrade walk-in freezer/fridge
• restructure staircase positioning from ballroom to basement
• Make basement nice
• Fix S Wall drainage issue
• bring ballroom bar area up to code, make more functional, efficient refrigeration
• seismic foundation upgrades
• french draining the perimeter and integrating water catchment into grey water system
• grey water processing lab
• lengthen windows in main hall to near ground level
• integrated pa/speaker system throughout building
• repaint & refinish exterior walls
• second ada bathroom built in main hall
• lowering ground level in basement to give more head space
• wind turbines
• Rework understage storage so its more usable

Action Items

• Marcus will ping Stephaney.
• David will work on improving/updating the proformas, wants to take into accoutn big projects to get New Market Tax credits
• Set up appointments to open bank accounts @ Western for BAPS, GWS, Birdhouse, and Liberated Lens(?) [Jenny]
  • Update 6/20: Thursday Lib Lens, Friday BAPS, still waiting to hear back from GWS and Birdhouse
• Set a date to have all IndieGoGo perks shipped out
  • Finish and print posters [Jenny/Marc]
  • Finish and print t-shirts [Jenny/Marc] Idea that Marcus could print shirts as an art bison member, Pat Xu, Jenny could help?
    • We can't afford this right now ($1200-$1500), need to kick back indiegogo perk fulfillment til we're solvent
• Sell donated copiers [Laura/Jenny] Laura put on Craigslist 6/16 for $500 and $450
• Finish & get signatures on new sublease agreements by 6/16 - What groups need leases? Chiapas needs to sign after changing reasons to terminate (Laura will modify and resend); SUDO - Matt and Jenny will sign tonight; CCL - check with Ken; TIL - Jenny needs to change something and will give it back for them to sign
• Event / space rental brochure [jenny/niki]
• RVC Bank transfer [jenny/marc]
• Resend books to Tax preparer (laura)- Didn't do that, busy and wanted to check on getting million dollar donation onto the books. Jose says we need committment letter for the donor.
• Check PGE rebates, look into rate options (matt/marc)
  • Electrical in front room is done, need to get the final inspection completed after some screws are added.
• Work session Thursday 3pm
• Matt will talk to Matt B about http://sogoreate-landtrust.com/about/