Here are the questions from Melissa and the answers. All comments are appreciated:
Melissa's questions:
- Do you have a timeline for the initial funding needed to start up?
As
of this time, I do not have a timeline for initial funding, only to
say ASAP.
- When will the facility open?
When
we get funding, as of right now, I am contacting somebody I know who
works in upper management in HEB who could point me in the right
direction as to who to contact regarding this property. The property
is owned by HEB. The realtor handling the property has assured me
that HEB will be willing to reimburse anyone who leases the property
and does renovations. The property is in disrepair and will need
extensive work before it can be opened. I am also in contact with a
general contractor. I hope to schedule a meeting with the contractor
and the realtor soon. I will also invite you and other interested
people to this meeting so you can see the inside and discuss the
work that needs completed.
- Is there a bookkeeper already in place? If not, how will the funds be escrowed until used?
As
of this time, there has not been anyone hired and there is no bank
account. I plan to use my own money to get the ball rolling and
initiate the 501c3. As soon as that phase is complete, we can open a
bank account and hire a bookkeeper.
- A list of employees was included in your proposal; are the employees the board members?
There
are no employees at this time. I do not have any firm board members.
To initiate the process, I need three people to serve on the board
besides myself. I'm familiar with the process of creating a new 501c3
and one of the rules is that employees may also serve on the board.
When hiring employees, the board must interview each candidate. If
the candidate serves on the board, that candidate may not be involved
in hiring for that position. The other board members must agree on
the position, duties and salary of the candidate as well as all other
candidates without that particular board member present. This is
absolutely necessary that all board members sign a release stating
that they all agree to this process before being accepted to serve on
the board. Therefore, board members cannot hire themselves for any
position.
I need all the help I can get.
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