Event:2016/09/12 Fundraising

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Fundraising WG - 12 Sep 2016

Attendees

Laura, Mary Ann, Jenny

Finance Update

Increase Event Rentals

Complexities of Donation

  • Need to figure out how to maintain 33% charitable income
    • Possibly pass through another 501c3 to be member of llc with Omni to make purchase, be co-owner (eg FNB,SUDO)
    • $1m donation could be configured as a 0% or 2% loan with the 2% we pay returning as donation


via Jesse

"An option (if the donor / lender is willing to agree) would be to have another organization (including but not limited to Sudo Mesh -- MS could do it, too) accept the donation as an unusual grant and then that organization could purchase the building and lease it to Omni. Or you could have Omni borrow the funds and another organization accept the donation, and then have each own a portion of the building.

These solutions are more complex than having Omni own the building on its own, but solve the donation problem.

So to summarize, I think Omni and the donor need to agree on a somewhat more complex arrangement than the original idea, which was to have the donor donate $1 million and loan additional funds."

TIMELINE

  • Open brokerage account this week
  • Write up and sign promissory note(s)
  • Decide what 501c3 would receive the donation - sudo?
  • Put funds into escrow

Grants

  • Spark Plug foundation (NYC) came back with an email that the board isn't inviting us to make a full application.
  • Mary Ann sending something to HAAS Fund - http://www.haassr.org/

More Funding Leads

Play brings joy. It is beneficial for problem solving, creativity and relationships. And play is just as necessary for adults as it is for kids. But in low-income areas there are often limited spaces for play and fewer people attending arts and cultural activities. That’s why we invest in community programming that supports ways for children and adults to play and create in venues across the country. Providing Access to Artistic and Cultural Programming Our investments ensure economic vitality and accessibility to the arts in local communities. Examples of grant support include: Programs that provide underserved communities access to cultural activities, visual and performing arts, zoos and aquariums Support for local arts organizations that enhance the economic vitality of the community"

    • "Unrestricted General Operating Support Grants

We consider unrestricted general operating support requests from organizations where the entire mission of the organization fits a Community Possible Grant Focus Area."

Action Items

  • Laura will ping contacts at Red Oak Realty and UU Headquaters in MA
  • Jenny and Laura will work on Fund for Just Society UU grant this week
  • Laura will email ALmaz with grant ideas for GCSEA
  • Mary Ann - call Valley to see if they will accept a financial review in lieu of audit; Haas;
  • Jenny - talk to david re Rainin
  • Jenny - ask another person for October loan,

Links