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Authorizing Official's <br />Name <br />Sasha Bakaric <br />Authorizing Official's <br />Title <br />Chairperson of the Board of Directors <br />Authorizing Official's <br />Phone <br />919-636-4135 <br />Authorizing Official's <br />Email <br />info@frankisart.com <br />Applicant Race W hite <br />Financial Overview <br />ae4ee713-b509-4529-8654-a109043389cc.xlsx <br />Organizational Financial Statements <br />2019_Actual_Profit_and_Loss.pdf <br />2020_Projected_Profit_and_Loss.pdf <br />2021_Draft_Budget.pdf <br />Deficit/Surplus During our 10 years of existence we were able to accrue a financial <br />reserv e specifically for uncertain times.This has prov en to be helpful <br />during this pandemic because we hav e been able to meet our basic <br />expenses while were closed and now operating under N.C.stage 2 <br />restrictions. W e might add here that the $10,200 PPP we receiv ed <br />under the Cares Act was instrumental in our being able to keep our <br />gallery manager paid during lock down. Our physical gallery space <br />and our relationship with our landlord is critical during both certain <br />and uncertain times. Ev en though we created an online shop from <br />mid-March to July 1st 2020 when the gallery was closed, we still <br />sustained a loss of $32,461 in sales during that closure prov ing how <br />critical it is to hav e an accessible physical business space. Our one <br />fundraising ev ent of the year, the "Off the W all Gala" typically helps <br />the gallery maintain a surplus throughout the year. Howev er, with the <br />postponement of that Gala and the mov e to make it a v irtual ev ent in <br />the fall of 2020 we are facing a lot of "unknowns" and will likely <br />generate less income from this our main fundraising effort. <br />PROJECT/PROGRAM <br />INFORMATION <br />Tell us about your project or program <br />Title of Grant <br />Request <br />Operational Grant for rent and utilities for FRANK Gallery (Franklin <br />Street Arts Collectiv e) <br />Grant Amount <br />Requested <br />$3000 <br />DocuSign Envelope ID: 060238A0-9372-4481-BC57-ECCBD1F06A8B