Omni Fundraising WG - 22 August 2016

Attendees

Marcus, Laura, Brian, Jenny, Jose, Mary Ann, Kambiz, Austin

Updates

501c3 status approved August 12th, retroactively applied back to 2 April 2014!
The donor is willing to finance a loan for the other million!!
- Has to check with lawyer about any unknown implications of donating and lending at the same time.
- Wants an appraisal
- 20-30 years amortized, but want it paid back after 5 years (so we refinance by then)
- What kind of equity would we have?
Should we roll all the loans into this loan and pay back our community lenders?
ABDC - Marcus writing a grant for a youth program, including some $ for Lib Lens to make a video about it.

Mary Ann sent an LOI to Sparkplug Fund last night
Gladys fund spend down is for Bricks and Mortar
MArcus and Brian went to the Foundation Center to look at grants. Brian went through 60 foundations and came up with about 6, ended up with 2. Haas Fund (new and innovative ways of building community) and Union Pacific Foundation but timing is off. And Haskell Family Fund in Ohio that has no website.

Raised $362.30 ($307.30 from the sale & $55 from shirts)
A guy is taking the printing machines in the basement
Urban Ore came today and looked at stuff. Took some chairs and a table and pointed out other stuff they would take. Coming back Friday 9am. Will pick up metal bookcases and other tiems. Somethings need to be boxed.

TIL has lapsed; Jenny emailed Joel & The Intersection (their fiscal sponsor) last week and called State Farm today. Hopefully taing care of asap
Which leads us to... where are we with Omni's new insurance policy that may also cover fiscally sponsored projects?

Apply for business tax refunds (sudo, omni)
Apply for property tax welfare exemption: https://drive.google.com/file/d/0B4_Q7DQvNFT-a1lDRW90LXBNS2c/view?usp=sharing
Jose wants to have an in depth discussion on the fundraising "ecosystem" for the fundraising efforts of all the collectives in the building. There are best practices around this. We will talk about this in 2 weeks
Omni emails - MaryAnn, Marcus, ABDC, Jose,
Complete basment and main hall clear out by Sun Aug 28 (Kambiz, Austin, Marcus)
Jenny will go over the new proforma at the next meeting on a big screen
Laura/Jenny respond to spreadsheet Jose sent from Maureen the accountant
Finish Letter of Request for Determination