Minutes:01 JAN 2025 Financial Planning

Meeting begins: 2006

Meeting ends: 2027

Meeting attendees: Nate Y., Joe D., Jame K.

• Budget notes:
  • Increase in rent for 2025, but January is free.
    • Related: utilities reconciliation has increased
  • Plans to move money to UMCU
    • Huntington account should be closed before February
  • Sending out 1099 forms for contractors
    • We can use a service to do this for pretty cheap. Might have to send in a copy to the state manually.
    • Needs to be done before 1/31. Joe will get it done by 1/10.
  • Form 990/Sales tax due. Joe will do this with Nate so others know how to do it!

• Grants:
  • SA2T - Sarah
  • Ann Arbor Area Community Foundation
    • Will discuss 2025 effort for this at the next Members' Meeting
    • Grant programs open - James A. and Faith Knight Foundation: https://www.aaacf.org/news/james-a-and-faith-knight-foundation, https://www.knightfoundationmi.org/funding-priorities/ - closes September 30th, possibly when money runs out
      • Grants for operating costs? While it's possible, this is likely not as promising vs. a targeted plan of action.
        • Jame: could use it to fund an expansion?
        • Jame will research needs to get us started
    • Jame will get the ball rolling in a Google Doc, Nate can support needs
  • Past year's fundraiser should get closed out after a few months so we can send out thank-yous. Anything older should get closed out to avoid confusion, but let's record the amount raised as a benchmark.

• Action items:
  • Cash deposit schedule/rotation? - Nate
    • Joe would like someone else to tally up how much is needing deposit, post in chat. Nate will tally up money in an envelope, Joe will deposit periodically.
  • Find other ways to get help on writing grants? Can we reach outside of the organization for help?