The Finance Board is
about raising money. People who are experts in raising
funds for nonprofits may serve as members of both the
Advisory Board and the Finance Board. The Finance Board
may eventually consist of bankers, investment bankers,
venture capitalists, accredited investors, stockbrokers,
realtors and others who know how to raise funds and
locate assets for profit and nonprofit organizations.
We
are forming Chimorel One LLC to raise funds to acquire
and renovate commercial property. Through this entity
we intend to develop $500,000 to $5 million in capital.
The initial project will be N 4th. There are many other
projects that members of the Finance Board will help
us fund. These projects may include working as a member
of Chimorel's Business Incubation and Nonprofit Development
committees.
Initial
efforts on the Finance Board will typically be volunteer
as planning to fund certain projects is undertaken.
Once serious money is raised, however, the people who
bring in the funds, if they are licensed to do so, can
anticipate being paid for their efforts. It is important
to note the sequence here. Volunteer to plan. Pay for
actually raising funds. Compensation for nonprofit fund
raising will typically be in the 2-7% range. Compensation
for bringing investors and real estate projects to Chimorel
will typically be in the 1-3% range.
