Alma del Mar
Development Committee Meeting
Published on June 16, 2020 at 8:48 AM EDT
Amended on June 16, 2020 at 3:24 PM EDT
Date and Time
Friday June 19, 2020 at 9:00 AM EDT
Location
Alma del Mar Charter School, 515 Belleville Avenue, New Bedford, MA 02746
Agenda
| I. | Opening Items | |
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Opening Items
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| A. | Record Attendance and Guests | |
| B. | Call the Meeting to Order | |
| C. | Approve Minutes 5/22/2020 | |
| D. | Approve Minutes 1/17/2020 | |
| II. | Impact Campaign | |
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Development
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| A. | Fundraising Status Update | |
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Annual Fundraising
Capital Fundraising
Special Projects Fundraising
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| B. | Frederick Douglass Capital Project Update | |
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Overview of updated timeline for the construction of the Frederick Douglass Campus
Architects slated to complete design in July and groundbreaking is planned for August/September. Financing with EFF planned for late September. Anticipated building completion is December 2021.
Overview of the funding needs for pre-construction, groundbreaking and early phase construction
There is currently enough cash on hand and incoming pledge payments to pay for pre-construction and site work through September. If the financing closing is pushed into October and the project stays on track, there will be a cash outlay need of $1.7 million for the steel delivery.
Overview of Project Budget and fundraising needs to complete the project
Project Budget: $24,867,845
Paid to Date: (1,581,565) (Land, Design Phase, Other PreDevelopment)
Cash on Hand: (553,991)
Outstanding Pledges: (1,115,000) (Commitment dates of 12/31/2020)
EFF Loan: (20,000,000) (Expected to close late September)
Amount to Raise $1,617,289
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| C. | Revised Impact Campaign Messaging | |
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In light of the challenges of COVID-19 and Alma's deepened commitment to becoming a truly anti-racist organization, we need to reshape the narrative that will drive the Impact Campaign. What is the story we need to tell?
WG will outline his current thinking on the direction of Alma for the next 2-3 years and the role the Impact Campaign has in supporting this. The Committee will help to synthesize a limited set of talking points that will inform a revised one-pager which will drive future communications.
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| D. | "Stop-Gap" Communications Strategy | |
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What are the limited things that we need to do between now and BK's return to set the stage for a strong Year 2 of the Impact Campaign?
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| III. | Other Business | |
| IV. | Closing Items | |
| A. | Adjourn Meeting | |