Minutes:01 JAN 2025 Financial Planning: Difference between revisions

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Created page with "Meeting begins: Meeting ends: Meeting attendees: Nate Y. * Budget notes: ** Plans to move money to UMCU *** Final plan is to move the remaining buffer funds to UMCU after a while, but mostly the Huntington account is good to be closed once we're sure nothing is drawing from it (yearly expenses, etc.) ** create system to pay contractors *** This is mostly done *** Need to be more disciplined about getting contracts signed * Grants: ** SA2T - Sarah ** Ann Arbor Area..."
 
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Meeting begins:  
Meeting begins: 2006


Meeting ends:  
Meeting ends: 2027


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


* Budget notes:
* Budget notes:
** Increase in rent for 2025, but January is free.
*** Related: utilities reconciliation has increased
** Plans to move money to UMCU
** Plans to move money to UMCU
*** Final plan is to move the remaining buffer funds to UMCU after a while, but mostly the Huntington account is good to be closed once we're sure nothing is drawing from it (yearly expenses, etc.)
*** Huntington account should be closed before February
** create system to pay contractors
** Sending out 1099 forms for contractors
*** This is mostly done
*** We can use a service to do this for pretty cheap.  Might have to send in a copy to the state manually.
*** Need to be more disciplined about getting contracts signed
*** 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:
* Grants:
** SA2T - Sarah
** SA2T - Sarah
** Ann Arbor Area Community Foundation
** 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
*** 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.
**** Grants for operating costs? While it's possible, this is likely not as promising vs. a targeted plan of action.
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***** Jame will research needs to get us started
***** Jame will research needs to get us started
*** Jame will get the ball rolling in a Google Doc, Nate can support needs
*** 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:
* Action items:
** Schedule meeting for EOY fundraiser: reach out to engaged AHA folks and see when a good time would be to discuss as a group.
*** Nate will post a link with a poll on which days/times, during the next couple weeks, are good for a meeting
** Cash deposit schedule/rotation? - Nate
** 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.
*** 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.
** Future SEO/Adwords discussion: defer until after strategic planning - strategic planning still needs to be planned!
*** Joe: will set up a time to get a strategic meeting on the calendar w/in the next couple months
** Find other ways to get help on writing grants? Can we reach outside of the organization for help?
** Find other ways to get help on writing grants? Can we reach outside of the organization for help?

Latest revision as of 20:28, 1 January 2025

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
    • 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?
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