Capital Campaign FAQ
The Luminary Capital Campaign FAQ
Why are you moving?
Our new location will offer more space for our programs and events and is embedded in an active arts community. We will have on-site housing for international residents and expanded programs that are not possible in our current location, all while continuing to develop our current programs and events. We do not own our current building and, as we looked to the future, we knew we needed to pursue a more sustainable option. We are excited to help build a greater community and support the work of artists and organizations already on Cherokee Street.
What is your timeline?
Renovations will begin in October and November 2012 to stabilize the building and take care of the most pressing updates. These updates include replacing the roof, demo of existing problem areas, and exterior work. The previous owner of the building, LED Craft, will remain in the part of the building for up to 6 months, during which time we will operate in a temporary space at 2644 Cherokee Street and continue the renovations that are possible during that time. Full renovations will begin no later than March 1, with public events planned for May and into the summer.
Do you own the building?
No. We currently have a contract to purchase the building at a set price through August 2014.
What happened with the potential location at 2700 Cherokee Street?
After extensive discussions with our stakeholders and members of the community, it became clear that 2701-7 Cherokee would be better for the long-term sustainability of the organization and for the programs already in place. This location will allow us to expand our programming and move forward for approximately half of the cost (and is directly across the street from the previous proposed location).
Where will the funding come from?
You, in part! We are approaching a wide variety of businesses, foundations, granting organizations and individuals for support. Both large gifts and small will go a long way to making the move possible. We know that enough people believe in this vision to make it possible and financially sustainable. If you are interested in making a cash or in-kind contribution, you can do so here or contact us directly at 314-773-1533 or firstname.lastname@example.org and we would love to meet with you.
What will you do with the money you have raised so far?
The money we raised in the first phase of fundraising ensured that we were able to move forward with plans for a new location. This will cover our rent, taxes, insurance, and ongoing building expenses until we are able to be fully operating in the building. The money will also go towards initial renovations, which include a new roof, itself estimated to cost approximately $25,000-$30,000, tuckpointing, and stabilizing the structure. In short, it gave us a great start, but we will need more to finish this project.
Why are additional funds needed?
Old buildings cost money. The building is in need of several major repairs such as updates to the HVAC, electrical service, and plumbing, as well as replacing much of the flooring, walls, and windows prior to opening publicly. Current estimates are that these renovations will cost at least $100,000 over the next year. Additionally, items such as lighting and sound equipment will be required to reopen the venue. Ultimately, our plans are to purchase the building, so we will need support both for renovations and the eventual purchase.
I am not able to contribute financially. Are there other ways for people to get involved?
We will need skilled (and unskilled) volunteers for many renovation projects and donations of supplies and services to complete the project. A few of the pressing needs are: demo, carpentry, plumbing, framing, installing drywall, and tuckpointing as well as help with upcoming fundraising events. Email us at email@example.com if you or someone you know may be able to help with any of these items.
If you have any questions not addressed here, feel free to send us an email at firstname.lastname@example.org and we are happy to provide more information.