Difference between revisions of "Event:2017/02/20 Finance & Fundraising"

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==Review Budget==
==Review Budget==
[[Category:Finance]]

Latest revision as of 02:00, 13 December 2017

Omni Finance Working Group 20 Feb 2017

Attendees

  • Julio, Brian, Laura, Jenny, Patrik, Marcus, DK

Updates

  • Jenny moved funds between OOC and OC to account for payments and bills to/from the wrong of the 2 accounts. Didn't transfer event rental payments yet.
  • RE: Check written last week for DIY Space 4 didn't work becasue of SF City regulations about who can write checks for permit fees. Needs new check to the contractor who will use the funds for the permits. David wrote up an agreeement beteen DIY and the tenants on Docusign about why they are heling and agreed upon use of funds, etc.
    • We need to write a new grant award letter becasue new check is for slightly higher amount $3517. (Laura)
    • New check written
  • Brian got an offer from CAL accounting/entrepreneurship club to help out with accounting/bookkeeping

Agenda

Disaster relief fund follow-up

    • Need to make it a general Disaster Relief Fund with something on our website that we have such a fund
    • David has created application form on docusign that asks about relevant issues that qualify for charitable funding.
    • Individual relief victims need to submit an application to receive the funds raised for them.
    • Question about setting up sub account for this fund. Unify has said we are at the sub-account limit. We agree that a separate account for this isn't necessary.


CCL request to lower rent

  • CCL requesting a temporary reduction in rent to same as SUDO. Has been living off of initial kickstarter and spent it on plumbing
  • Currently making about $1600/month, so $800 in the red atm. Previous financial 'helpers' no longer fully employed / in town.
  • Working on several likely grants. Not sure how long it will take to get the funding in. Need to schmooz. Moore Foundation is one they will be approaching. Will have more info on progress after 3/22 general meeting.
  • Requesting $2000/month rent until solvent.
  • Patrik suggests monthly check in from us that includes board: cultlabsboard@googlegroups.com

Property Tax Welfare Exemption application

  • Major task areas needed to complete:
    • Updated and signed leases - is this necessary, or are board resolutions transferring the agreements enough? Question for Jesse
      • Laura will work on this if it is needed
    • Proof of tax exempt status of tenants - we have chiapas and FNB. Intersection for the Arts fiscally sponsors TIL, PhatBeets (Alyssa), Green Windows (Peggy Simmons) - do we need fiscal sponsorship agreement PLUS sublease agreement AND fiscal sponsor's exempt status letter? Brian will contact.
      • Almaz/GCEA - Laura
      • CCL - Jenny
      • CDP sponsorship - Julio
      • AEMP
      • APTP: Laura spoke to Krystof, said he will send
  • Financial statements - Jenny has questions for Jesse, may need hackathon

What we want to do with OOC

  • Need to check in with Jesse wrt the current OOC board replicating the OC board. Back Wednesday.
  • May want a contract between OOC and OC re: the reimbursement for OC expenses paid


Review Budget