Difference between revisions of "Finances"

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=Financial Information=
 
=Financial Information=
 
==Current Monthly Expenses==
 
==Current Monthly Expenses==
As of second quarter 2018, we pay roughly $12,000/month for various expenses. Prior to the building purchase on December 7th, 2016, our expenses often exceeded $17,000/month, requiring us to borrow over $80K from community members. Once the bulk of these loans have been repaid, we expect our monthly recurring expenses to dip down to a more comfortable $10,000/month - however, these calculations do not include various unexpected costs, such as roof repair, sewer lateral, etc. We are attempting to build a capital reserve fund with a combination of event rental income as well as grants and large donations.
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As of third quarter 2020, we pay roughly $11,350/month for various expenses. However, these calculations do not include various unexpected costs, such as roof repair, sewer lateral, etc. We are attempting to build a capital reserve fund with a combination of event rental income as well as grants and large donations. Currently, we have an operational reserve fund of approximately $30K.
 
===Mortgage===
 
===Mortgage===
 
Starting Jan 1st, 2017 we officially stopped paying rent and started paying off a mortgage loan! Our loan is for $975,000 at 5.5% interest, with a balloon payment due Jan 1st, 2021.
 
Starting Jan 1st, 2017 we officially stopped paying rent and started paying off a mortgage loan! Our loan is for $975,000 at 5.5% interest, with a balloon payment due Jan 1st, 2021.
* $5,365.61 + 5.5% ($312.28) = $5,677.89/mo
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* $5,677.89/mo at 5.5% accruing interest
  
 
===Utilities===
 
===Utilities===
* Gas & Electric - ~$1,400/mo
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* Gas & Electric - ~$1,500/mo
* Water - ~$225/mo
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* Water - ~$350/mo
* Garbage & Recycling - $600/mo
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* Garbage & Recycling - $916/mo
* Internet - $165/mo
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* Internet - $152/mo
  
 
===Insurance===
 
===Insurance===
* Directors & Officers Insurance - $178/mo
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* Directors & Officers Insurance - $175/mo
* General Liability - $285/mo
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* General Liability - $277/mo
* Property - $578/mo
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* Property - $730/mo
  
 
===Other Expenses===
 
===Other Expenses===
* Community Loans - $51,800 repaid in 2017, $28,000 to be repaid in 2018, and $2,000 in 2019.
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* Maintenance & Building Supplies - ~$500/mo
* Dues & Subscriptions - ~$80/mo
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* Independent Contractors: ~$1000/mo
* Maintenance & Building Supplies - $400/mo
 
  
'Total: ~$11,600'
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'''Total: ~$11,350'''
  
 
==Monthly Income==
 
==Monthly Income==
  
 
===Revenue from Member Collectives===
 
===Revenue from Member Collectives===
* Bay Area Public School: 90% of donations received
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* Chiapas Support Committee: $218
* Chiapas Support Committee: $200
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* Counter Culture Labs: $2185
* Counter Culture Labs: $2000
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* FYE: $350
* Global Communication Education and Art/YES: $200
 
 
* Global Women's Strike - Omni Collective: $200
 
* Global Women's Strike - Omni Collective: $200
 
* Liberated Lens: $300
 
* Liberated Lens: $300
* Phat Beets: $850
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* Phat Beets: $625
 
* Sudo Room: $2000
 
* Sudo Room: $2000
'Total: $5750/month'
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* Sudo Mesh: $200 + 5% of any grants received up to $5000
 +
'Total: $6,078/month'
  
 
===Revenue from Other Supporters===
 
===Revenue from Other Supporters===
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== Sudo Room (Nov 2013-Nov 2016) > Omni Commons (Nov 2016-Current) ==
 
== Sudo Room (Nov 2013-Nov 2016) > Omni Commons (Nov 2016-Current) ==
 +
* 2020 Profit & Loss: [[File:OC_ProfitAndLoss_2020.pdf]]
 +
* 2020 Balance Sheet: [[File:OC_BalanceSheet_2020.pdf]]
 +
* 2019 Profit & Loss: [[File:OC_ProfitAndLoss_2019.pdf]]
 +
* 2019 Balance Sheet: [[File:OC_BalanceSheet_2019.pdf]]
 
* 2018 Profit & Loss: [[File:OC_ProfitAndLoss_2018.pdf]]
 
* 2018 Profit & Loss: [[File:OC_ProfitAndLoss_2018.pdf]]
 
* 2018 Balance Sheet: [[File:OC_BalanceSheet_2018.pdf]]
 
* 2018 Balance Sheet: [[File:OC_BalanceSheet_2018.pdf]]
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= 990 Tax Forms =
 
= 990 Tax Forms =
 
== Sudo Room (2013-Nov 2016) > Omni Commons (Nov 2016-Present) ==
 
== Sudo Room (2013-Nov 2016) > Omni Commons (Nov 2016-Present) ==
 +
* 2019 Form 990: [[File:OC_2019_990.pdf]]
 
* 2018 Form 990: [[File:OC_2018_990.pdf]]
 
* 2018 Form 990: [[File:OC_2018_990.pdf]]
 
* 2017 Form 990: [[File:OC_2017_990.pdf]]
 
* 2017 Form 990: [[File:OC_2017_990.pdf]]
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== Omni Oakland Commons ==
 
== Omni Oakland Commons ==
* 2017 Form 990: [[File:OOC_2017_990.pdf]]
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* 2019 Form 990N: [[File:OOC_2019_990.pdf]]
 +
* 2018 Form 990N: [[File:OOC_2018_990.pdf]]
 +
* 2017 Form 990N: [[File:OOC_2017_990.pdf]]
 
* 2016 Form 990: [[File:OOC_2016_990.pdf]]
 
* 2016 Form 990: [[File:OOC_2016_990.pdf]]
 
* 2015 Form 990: [[File:OOC_2015_990.pdf]]
 
* 2015 Form 990: [[File:OOC_2015_990.pdf]]
 
* 2014 Form 990: [[File:OOC_2014_990.pdf]]
 
* 2014 Form 990: [[File:OOC_2014_990.pdf]]

Latest revision as of 20:01, 27 January 2021

Financial Information

Current Monthly Expenses

As of third quarter 2020, we pay roughly $11,350/month for various expenses. However, these calculations do not include various unexpected costs, such as roof repair, sewer lateral, etc. We are attempting to build a capital reserve fund with a combination of event rental income as well as grants and large donations. Currently, we have an operational reserve fund of approximately $30K.

Mortgage

Starting Jan 1st, 2017 we officially stopped paying rent and started paying off a mortgage loan! Our loan is for $975,000 at 5.5% interest, with a balloon payment due Jan 1st, 2021.

  • $5,677.89/mo at 5.5% accruing interest

Utilities

  • Gas & Electric - ~$1,500/mo
  • Water - ~$350/mo
  • Garbage & Recycling - $916/mo
  • Internet - $152/mo

Insurance

  • Directors & Officers Insurance - $175/mo
  • General Liability - $277/mo
  • Property - $730/mo

Other Expenses

  • Maintenance & Building Supplies - ~$500/mo
  • Independent Contractors: ~$1000/mo

Total: ~$11,350

Monthly Income

Revenue from Member Collectives

  • Chiapas Support Committee: $218
  • Counter Culture Labs: $2185
  • FYE: $350
  • Global Women's Strike - Omni Collective: $200
  • Liberated Lens: $300
  • Phat Beets: $625
  • Sudo Room: $2000
  • Sudo Mesh: $200 + 5% of any grants received up to $5000

'Total: $6,078/month'

Revenue from Other Supporters

  • The Commons Working Group works with many different groups and individuals that rent out spaces in the Omni on a sliding-scale basis. On average, space rental generates between $4000-$6000 each month. A fun working group that could always use more volunteers, ping the list to help with event coordination!
  • We are currently researching grants for capital improvement projects, such as building accessibility, kitchen remodeling, and structural improvements. Please drop us a line at fundraising AT omnicommons DOT org if you have any suggestions, or come to a Fundraising Working Group meeting!

Financial Statements

Sudo Room (Nov 2013-Nov 2016) > Omni Commons (Nov 2016-Current)

Omni Oakland Commons

990 Tax Forms

Sudo Room (2013-Nov 2016) > Omni Commons (Nov 2016-Present)

Omni Oakland Commons