[Imc] Capital Campaign Meeting Notes

[Clint Popetz]

Capital Campaign Exploration Meeting
6/26/02

Present: Sascha (facilitating), Mike L, Clint (note-taking), Paul R,
Brian


Sascha thinks it's a good idea to raise capital with the intention of
buying the building next April.  A 20% downpayment would be $60,000, but
we are shooting for $100,000, due to the extra expenses associated with
owning the building, including accessibility, facade work, insurance,
etc.  Sascha thinks we should empower individuals to raise money.  Mike
thinks it should be a separate account, so that people will know the
money they are giving is going to a specific thing.  Agreed buy all.

On the subject of "whether we should buy the building."  The idea of the
capital campaign is to buy A building, with a preference for THIS
building, but whatever the case the money would go toward buying SOME
building.  Paul suggest that we reserve the right to use interest on the
money to support general IMC operating costs, so that the IMC doesn't go
broke while $X,000 sits in the bank.  Agreed.

We are recommending to the steering committee at the next meeting that
this group be empowered to begin raising money to buy a building, with
the intent being to buy this building.  Our recommendation is that at
the next general membership meeting, we ask the general membership to
sign off on a to-be-developed business plan to purchase a building.


This will be a group effort, but a diverse set of fund raising
approaches.  Everyone is invited to the next meeting.  The meetings are
held at 7pm on the first and third Wednesdays.  The next meeting is July
3rd.