EMAIL DETAILS

This will need some coordination. It is my understanding that the Foundation can operate as a charitable organization even before it obtains 501(c)(3) status. However, do not think the Delaware Community Foundation can distribute the funds it is receiving, nor can the campaign contribute its leftover funds until the Foundation has been qualified. Based on our prior experience, that could take 3-6 months.

Consequently, we think there needs to be a separate solicitation of the amount of contributions needed to pay the administrative expenses in the interim with the donor(s) understanding that the Foundation is not yet qualified as a 501(c)(3) although it is expected that it will receive that designation.


Melvyn I. Monzack
Monzack Mersky McLaughlin and Browder, P.A.
1201 North Orange Street
Suite 400
Wilmington, Delaware 19801
Phone: (302) 656-8162
Fax: (302) 656-2769
E-mail: mmonzack@monlaw.com<mailto:mmonzack@monlaw.com>
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From: Joshua Alcorn [mailto:josh@beaubiden.com]
Sent: Monday, June 15, 2015 4:44 PM
To: Hunter Biden; ted kaufman; Melvyn I. Monzack; Michael C. Hochman
Subject: monthly expenses

Hi folks -
Below is a table of our monthly expenses. I’ve noted when I expect to end each of the services. As I said to Hunter today, it would be nice to have no disbursements out of the campaign account after June 30. That will make reporting easier, but I’m not sure that’s 100% feasible. It’s a goal at least.
A few things to think about:
1. Office Rent: do we want to shutter the office or transfer the lease to the Foundation? I’m sure BPG will give us some flexibly with moving out. If we stay, and make that the foundation office, we’ll probably have to transfer the phones and Comcast over (about $930/month for office overhead). I will discuss this with Hallie tomorrow.
2. Storage unit: The storage unit has a bunch of desks and chairs that can be donated. The old campaign files can be shredded. But there are a number of boxes of business and tax records that will either need to be shredded or moved to Hallie’s house.
3. Database: I’ve asked NGP if they have a non-profit rate for maintaining our database. I think that’s a useful expense.
4. BeauBiden.com<http://BeauBiden.com>: It’s probably worth us keeping that active and have it redirect to the foundation’s website when that is active. BSD hosts it now, and they’d be who I recommend host the foundation site as well. So that will essentially transfer to the foundation.
5. Well & Lighthouse: when we get a fuller idea of how we’re going to stand up the foundation, we may want to consider keeping Well & Lighthouse on a small retainer, just so they can handle our social media and online fundraising. But that will come later. For now, I think we should terminate their consulting retainer June 30.
6. JMA Strategies: I cut my paycheck for June last week. In July, I’ll invoice for July and August.

I’m sure there are other things I’m not thinking of now, but this is at least all the monthly expenses:

Rent $753 Transfer to Foundation?
Comcast $90 End June 30
eFax $17 End June 30
Qnectus (phones) $87 End June 30
Verizon (ipad, mifi) $85 End June 30
AT&T (Beau phone) $145
NGP (database) $600 Transfer to Foundation?
Public Storage $323 Need to figure out
BSD BeauBiden.com<http://BeauBiden.com> $250 Need to figure out
Quickbooks $40 End when we close campaign acc’t
Washington Post $15 End June 30
News Journal $15 End June 30
NYTimes $15 End June 30
Well & Lighthouse $1000 Need to figure out
JMA Strategies $7250 Will take July and August retainer in July

Joshua Alcorn
302/295.8340 (office)
302/598.1885 (cell)
josh@beaubiden.com<mailto:josh@beaubiden.com>