Red Cedar Zen Community, 1021 N Forest, Bellingham Washington

Finance Committee 2011-07-13

Finance Committee Meeting Minutes

13 July 2011

Present: Marti, John, Valerie, Talus
  • Numbers
  • Samish - Report mostly done, a few additional expenses haven't been received.
    • Income about $27,812.
    • Net about $5200+ (2010 income $26,912  net $5840)
    • The rates from the camp went up and rule-bending discount from previous years no longer applies.
  • June - Expenses in, waiting on bank statements to confirm.

  • Rental Structure
    • Board approved half price rentals for members.
    • This committee is to review rental structure for 2012.
      • Base rate, discount for upstairs only, half price for members, possible evening premium, discount for all weekend, non-fee groups policy.
      • We will have to do some checking on local rates.
      • How many renters do we have?  How would rate changes affect this?
    • Major decisions on our lease for this building are pending.
    • Posted rates allow for other groups like BIMS.  We haven't received official word from them yet, through their minutes reference a decision to commit to three years at $1000 per month.
  • Tax Status - getting our own 501C3
    • Marti working on arranging a meeting with BIMS to review the paperwork they just went through.
    • Talus and John interested in this process.  Maybe we will have a committee meeting specifically for this.
    • Additional help would be appreciated.
  • Reimbursement Forms
    • Is the form an accurate reflection of the categories we use?
      • It does need to stay simple for people filling it out.
      • Talus will draft an update that better reflects the report structure when June report comes out.
  • Tim's Mindfulness Class
    • This class was treated as a Red Cedar Zen Community event.  Future classes may be put on by a business he starts, that rents space from RCZC.
    • Costs and benefits:
      • Costs: Volunteer time, advertising, hall time, teacher payment to him ($25/hr).
      • Benefit: Net income went to RCZC, almost $1000.
    • As a legal entity, with our 501C3 status, we need to be sure that we do not appear to be a financial tool for anybody -- that we don't treat anyone special.  
      • This event seems to have been handled completely legitimately, according to the standards we have for our teachers (former Shusos).
      • If, in the future, the class is held separately as a business event, the separation must be complete with reimbursement for any resources used.  For example, even using the group PO box would be improper.
  • Majestic Trash
    • Alborz had raised the possibility of combining our trash service with The Majestic.
      • After initial consideration, we replied that it would be worth further discussion, but that it must not abuse our non-profit rate with SSC.  If The Majestic provided us with trash disposal as a monthly utility service the way they provide our communications, that might work.  The previous month our trash bill had been about $16.
    • The offer was made for The Majestic to provide us trash service for $14 per month.
    • We would like to strengthen ties with The Majestic.  Upon closer examination, it appears our monthly charge from SSC is sometimes $10 or $6, depending on how often the trash gets set out.  There are other concerns such as their containers filling up when they have an event, leaving us without room to place the trash where it will not invite rodents.  Would this be copacetic with SSC?
  • Talus will inform Alborz thank you, but we decline.
  • Annual Donation Receipts
    • Valerie agrees to sent out annual donation receipts to those whose contribution exceeds the threshold for using check stubs and bank statements as the receipts.
    • If she has time, she might also draft a thank you email to all donors.  This could include a reminder that if their tax adviser tells them they need a formal receipt we would be happy to provide one.

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