Finances

From Omni Commons
Jump to navigation Jump to search

This page does not represent any kind of commitment to specific future budget expenses.

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
  • Acta Non Verba: $675
  • Sudo Room: $2000
  • Sudo Mesh: $200 + 5% of any grants received up to $5000

'Total: $6,128/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 join 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