Minutes, ACM 2023 Dec 10
Topics: reserve; alternative revenue sources brainstorm
Present: Mike W,W (fac), Vicky, Laura, Ben, Jordan, Grae, Michael _,Michael, Emily, Gheybin, Lynda,Lynda (co-fac), Alex, Robin, Jorge, Kerry, Tobi, Kay (notes), Vinnie
Reserve Projects
Presentation by Ben. We haven't got an updated reserve analysis back from Dale, so we will use the current analysis for the budget process. It isn't yet clear how the adjustments to the reserve we are planning will affect the amount needed.
Alternative Revenue Sources
What are revenue sources beyond our current fee structure? Start with brainstorm.
Guideline: duringDuring the brainstorm phase, no idea is a bad one.one; No evaluation offered during the brainstorm.
[Ideas sorted after brainstorm into broad categories by type.]
Raise money from residents
- increase reinvestment or transfer fees (currently $500 transfer)
- individuals pledge how much they want to raise, however they choose to do it
- annual charge for east garden beds, say $100 for season
- monthly charge for vehicles beyond first one, $10 or $15/month
- charge for stays in our guest rooms beyond per unit minimum
- rent space in workshop for personal storage
- increase pay or play hours and/or increase the buyout price for not working
Events/Sales
- Air BNB cohousing experience
- cohousing experience without staying
- casino night, bingo night
- sell skilled labor -- paint a room, do some mending
- silent auction
- artistic events with suggested donation
- bake sale or auction nights; invite former residents
- yard sale with whatever is left from the giveaway
- dinner with donations from invitees
- annual event to which we invited friends/family/people from waiting list
funding from outside
- fund-raising letter to former residents; remember us in your will or donate towards a specific project
- host workers in common house for working in the community
- leasing part of the property to an organic farmer
- renting out the wood shop on a per-use basis
- leasing the kitchen to caterers
- turn part of the workshop into an apartment for rent
- rent space for tiny houses
Money saving
- look for ways to reduce insurance coverage
- rent tools or borrow instead of buying them
- heat common house just in zones in use, not entire building
Laser talk or elevator pitch for the above -- person who offered each idea enlarges on it.
Budget
Basing amounts in the 2024 budget on actuals in 2023, and committee requests, with no increase in fees, we would have a shortfall of $21,837. To make up that shortfall would require a fee increase of 22.5%.
A couple of inaccuracies or out-of-date items: Interest Earned is actually $3,500; Electric Car Charging recent payment ~$700.
The workshop water meter is primarily the water for the north garden, in addition to the sink and toilet in the workshop.
How Can We Initiate Implementation of Ideas
Would need health inspection of kitchen and possible modifications for either spaghetti dinner or catering. Vinnie would foot bill for initial inspection.
Lynda would offer some skilled labor to be purchased at auction.
Gift baskets for silent auction.
Straw poll: How do people feel about increasing hours and payment? Mostly positive, several stand-asides. Ben & Kay will work on pay-or-play.
Silent Auction working group: Robin, Eliza (volunteered by Vinnie), Ben, Lynda, Grae. Dinner: Tobi, Michael, Vinnie, Emily, Starla
Straw poll: Increase investment and transfer fees? Mostly approve. Vicky will work with financial team.
To get around rental problem, we charge a fee to the resident for use of the guest room.
Could allot days for Welcoming Committee use of guest rooms for prospects.
Emily will look for AED grant.
Committee Reports
Common house committee meets 7:00 to 8:30 second Monday of the month
Farmette meeting tomorrow 6:00.
Conflict Support meets first Wednesday 6:00.
Maintenance second Tuesday, fourth Monday. Fourth Monday meeting is canceled this month.
Orientation third session Saturday January 13, 11:00 a.m.
Cooperative Culture book study group, every Thursday 6 to 8 p.m. Maybe at Kerry's, but check email for hosting location.
ACM planning committee Thursday December 14 7:00 p.m.
Friday December 22 possibly white elephant exchange. Linda R.
Watch for an email to schedule carolling.