Event:2016/08/08 Fundraising Call with Stephaney

Phone Call w/ Stepaney - 8 August 2016

Agenda

• Go over last week's action items
• Timeline & Deliverables
• Going over report w/ updated numbers
• Training etc; on fiscal management?
• Action Items for next week

Discussion

• Laura received environmental questionnaire from Beneficial:
• Working Capital loan seems too risky for banks
• mary Ann asks about grant suggestions
  • Steph: Look for funders that have similar mission and values, and ways of doing things. Suggests using the data base at the Foundation Center to look for potential donors. Use the varied interests of the member collectives and tenants.
  • Jose Corona - Deputy Chief of Staff at Office of the Mayor - jcorona@oaklandnet.com - https://beta.oaklandca.gov/staff-members/jose-corona
  • Gladys Valley Foundation - http://fdnweb.org/wgvalley/
  • East Bay COmmunity Foundation: Mary Ann has been trying to contact them. They assign soomeone but they never call her back.
    • Steph: IF you can find someone who has a donor advised fund there, that might be another way in
• Pitchdeck / package to present to funders
• Compass Point - holding a fundraising workshop on Aug 26th [ https://www.compasspoint.org/workshop/Budgeting%20for%20Programs%2C%20Grants%2C%20and%20the%20Organization ] - https://www.compasspoint.org/ - program that serves social justice organizations - Document: Strategies and Inspiration for Social Change - raising donations from individual donors - https://www.compasspoint.org/fundraising-brightspots
• SF Foundation only works with you if you've been around awhile
• SF Chalkboard listserv - start advertising, ask for guidelines - sfchalkboard-request@lists.riseup.net, https://lists.riseup.net/www/info/sfchalkboard

Review Stephaney's Analysis

• Capital reserve fund included (eg; HVAC repair, systems that fail over time) of around $17,000/yr
• Operating reserve funding - $15,000
• Loan payment of $25K/yr - of a $300K loan (??)
• Would need to generate an extra $15K/yr
• Would eliminate property tax costs once we receive our 501c3; would have to budget it in but would get reimbursement - need state public benefit status, can take up to a year to acquire
• Asking price is actually 1.95 million, not 2 million
• Audits can be $8-12K/yr
• Maintenance and Repair Plan - Stephaney will send referrals
• Include fundraising plan in business plan, along with earned income
  • Draft Fundraising Plan - https://docs.google.com/spreadsheets/d/1wBFMuANdCfkBfm-XmM8NFofphDQkYUDn-meh96jOYfI/edit#gid=0
• Mortgage payment of $85,500/yr for a $1m loan or $7,125/month + ~$2,000/month of expenses
  • At 20 yr amortization with 5.5% interest
• $89,000/yr at 6% interest

Action Items from Last Week

• Create a worksheet for Event Rental income [Jenny]
  • Here is historical event income by month, not including donations incurred from events: https://docs.google.com/spreadsheets/d/12Su7RibTiNk2Mrad-SeS_9oCLj0XktcizV43h_zX1m0/edit#gid=1836013777
• Talk about if we want to meet in person with Stephaney, and where and when
  • At Omni or Stephaney's office? Send a Doodle?
• Stephaney will send examples of supporting numbers worksheet
• Stephaney will send some contacts re: construction estimate
• See if there are any recent reports (environmental, appraisal) of the building [Jenny/DK]
  • Everything I could find I moved into this folder: https://drive.google.com/open?id=0ByVmfyLr9jeJT0hKelpFUDVGNzA
  • Construction / Permit project info I put here: https://drive.google.com/drive/u/0/folders/0B4_Q7DQvNFT-VVBfSER5S3dRTFE
• More robust fundraising plan [Fundraising WG]
  • Began developing this here: https://docs.google.com/spreadsheets/d/1wBFMuANdCfkBfm-XmM8NFofphDQkYUDn-meh96jOYfI/edit#gid=0
• Operating expenses worksheet - granular [Jenny/Stephaney]
  • Began organizing granular expense worksheets here: https://drive.google.com/open?id=0B4_Q7DQvNFT-T1YwSndZZGJSMFE

Fundraising Pitchdeck Resources

• All Omni events ever: https://drive.google.com/open?id=0B4_Q7DQvNFT-OWdLSWdmN1J6eEE
• Newsletters: https://drive.google.com/open?id=0B4_Q7DQvNFT-S1kzRHV0ZXp0TUE
• Grants Folder: https://drive.google.com/drive/u/0/folders/0B-AL95NlI75qMEpZX2lEMTZZRFk

Timeline

• We need to move forward on submitting our loan applications asap. What is left in order to do so?
• We have already been talking with loan officers at Beneficial State Bank and Western / Unify Federal Credit Union; they are awaiting our application.

Hard Deadlines

• Finish financial review by Maureen (CPA) this week
• Submit 990s next week
• Submit first 2 applications by Aug 31st

Action Items

• Work on pro forma: https://docs.google.com/spreadsheets/d/1rvkMc5lmd8PovoViNLdvlrv0tSyvrH7iB0SmGqaFec8/edit#gid=1307673688
• Work on business plan to include fundraising plan [Jenny]
• Send contacts re: construction estimates [Stephaney]
• Send some fundraising plan worksheet examples [Stephaney]