May 24 2011 Minutes

Sustainability Meeting

1) Get better understanding of budget and expenses
2) Identify key partners
3) Develop more revenue ideas

1) Budget
• Have gotten Dept of Commerce grant every year for 3-5 years and each year, we got about $5,000 more
i. In 2011, after all cuts, had around $26,000
ii. Competitive grant; requires application
iii. Diane Fay is the Asset Development contact for grant
iv. People for People keep books (aka lead agency)
1. EPIC was original lead agency when ABC first started
• Walmart grant: $15,000 for free tax sites
i. United Way keeps books (lead agency)
• HHS grant: $5,500, fed grant for Bank On incentives
i. Runs through Feb 2012
• Altogether around $45,000
• Biggest expenses: marketing, advertising, brochures and print outs, 2-1-1 donation ($5,000), computer equipment for AARP, VISTA expense, lead agency gets 10% for keeping books
2) Key Partners
• People for People
i. VISTA support
i. Free Tax Sites support
• United Way
i. Walmart grant support
• Consumer Credit Counseling (Apprisen)
i. Financial Education support
• Rural Development Community Resources
i. Financial Education support
• Catholic Charities Housing Services
• Northwest Justice Project
• (just to name a few)
3) Revenue Ideas
• Bank members contribute to YCABC
• Community Foundation
i. Other local grants/funds/support
• Membership?
• County funding
• Brainstorming time

Next meeting: map out a 2-3 year broad budget then see what funding can support what expenses
Map for Commerce grant
Maps for Bank Ons, Financial Education, EITC individually
Invited Candi Jaeger and Liz Myntti
July 28th at 2:00PM at ORFH