Rooted School - Washington
Minutes
Rooted School Finance / Fund Development Committee Meeting
Date and Time
Monday May 20, 2024 at 4:30 PM
Location
10401 NE Fourth Plain Blvd
Vancouver, WA 98662
Committee Members Present
A. Mason (remote), S. Carney, T. Foster (remote), T. Knox (remote)
Committee Members Absent
None
Guests Present
M. Paolini (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
A. Mason called a meeting of the Finance Committee Committee of Rooted School - Washington to order on Monday May 20, 2024 at 4:33 PM.
C.
Approve Minutes
T. Foster made a motion to approve the minutes from Rooted School Finance / Fund Development Committee Meeting on 04-23-24.
The committee VOTED to approve the motion.
II. Finance / Fund Development
A.
RSV Finance Update
- Overview and Challenges:
- Matt presented an overview of the organization's finances.
- The organization is on track with the fiscal and school year, despite a discrepancy in the receivable balance related to the CSP grant.
- General purpose revenues are at their target, but fundraising and federal revenues are lagging.
- Contracted services and school operations are kept under budget.
- An unexpected increase in enrollment has resulted in a healthy cash balance.
- Lower cash inflows are expected in the upcoming months.
- Matt explained the frequency of federal fund claims and admitted to recent submission difficulties, leading to potential interest loss. Adrienne acknowledged this as a concern.
B.
Reflection from Board Retreat
- School Expectations and Board Retreat:
- Clarification on committee status was provided, with Adrienne confirming a forthcoming detailed outline of committees, members, and meeting schedules.
- Adrienne shared a draft version of the mandatory attendance calendar for the full board, which will be updated as more committee meetings are added.
C.
RSV Fund Development Plan
- Quarterly Meetings and Board Retreat:
- Adrienne proposed a tentative schedule for quarterly meetings and a board retreat, with the first meeting on August 3rd and the board retreat scheduled for the following quarter.
- Smaller, more intimate fundraisers were proposed for specific Thursdays in October, January, and April.
- It was decided that the fundraiser on the first Thursday in October would be held on Saturday, October 10th, to better accommodate attendees.
- Diverse Fundraisers for Annual Goal:
- Tyrone emphasized the need for diverse strategies to reach the annual fundraising goal of $300,000.
- Ideas included small group dinners, larger community events, and galas, as well as potential partnerships with local businesses.
- Further discussions with the Parent Advisory Council and other teams will explore school fundraisers, with Tyrone and Adrienne noting the success of past popcorn sales.
- Venue Options for Gathering:
- Potential venues for the next gathering were discussed, including community spaces such as a market, a house, and a bank.
- Adrienne offered to decorate the venue for free as part of her side gig.
- Information and photos about 4th Plain Commons, a potential venue, will be shared to ensure agreement.
- Organization Collaboration and Business Targets:
- Taina and Tyrone discussed collaboration possibilities, focusing on businesses in the northeastern part of the city.
- Efforts will not overlap with Kairos, another local charter in Portland.
- Taina will build a list of potential organizations to target.
- Fundraising Event Software Solutions:
- Software solutions for fundraising events were explored, with the goal of providing a seamless donor experience.
- Taina suggested reaching out to a friend for more information about free or low-cost software.
- Adrienne will lead the planning efforts for the fundraiser, with Taina assisting in securing sponsors for wine.
- Jonathan will update the fundraising plan and share it for review and feedback.
- Donor Prospects and Funding Strategies:
- Strategies to secure funding for the third quarter were discussed, including exploring specific federal grants.
- Community engagement was emphasized, stressing consistency in requests and meaningful updates to funders.
- A follow-up meeting to discuss the specifics of the funding gap to be scheduled with Jonathan and Steven.
III. Closing Items
A.
Action Items
- Matt:
- Investigate the discrepancy in the non-AP cash balance and provide an update at the next meeting.
- Make the Federal fund claims soon.
- Adrienne:
- Review the minutes from the April 23rd meeting.
- Lead the planning process for the first fundraising event in October.
- Jonathan:
- Meet with Adrienne and Steven to clarify the specifics of the fundraising gap and ensure potential Federal grant opportunities allocate funds to cover school staff FTE.
- Update the fundraising plan and share it for review and feedback.
- Taina:
- Reach out to the leadership of the 1800 Foundation for insights and best practices on fundraising and grant writing.
B.
Adjourn Meeting
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 5:51 PM.
Respectfully Submitted,
A. Mason