Proposal for Sale of the Property at 272 Clinton Ave.
I seek and ask for your involvement at our January, 2022 meeting to authorize the sale of the property at 272 Clinton Ave. and use the proceeds in a manner consistent with Federal and State non-profit law, to either endow the DGT Foundation, a charitable institution, or as a gift to another educational or charitable organization of DGT Alumni Association’s choosing, including but not limited to Pratt Institute, our Alma Mater.
Happy New Year!
I write this note, not as an officer of DGT Alumni Association, but as one concerned member to other members I am able to reach. I vacated my last office, Secretary of the Board, in April 2021. I had served as an officer, including President and Secretary, between January 2012 and April 2021. I seek and ask for your involvement at our Annual, 2022 membership meeting to authorize the sale of the property at 272 Clinton Ave. and use the proceeds in a manner consistent with Federal and State non-profit law, to either endow the DGT Foundation, a charitable institution, or as a gift to another educational or charitable organization of DGT Alumni Association’s choosing, including but not limited to Pratt Institute, our Alma Mater. Going forward, in my view, the potential liabilities and risks to the organization, its officers and members vastly outweigh any benefits. Most importantly, our tenants and any other users of the building face potentially significant risks as well, as the building continues to age and deteriorate.
Through thick and thin, since 2006, volunteer members of DGT Alumni Association have been stewards of the property and promoters of new programing, namely Gallery House Internship Program. It has been a personally rewarding effort engaged in by usually, since 2012, between seven and ten members, some of whom are now in their early 70s such as me, some even older, and some younger. They have put in countless hours of work and there is much we can itemize on a list of accomplishments. However, the facts remain. The building is likely worth somewhere in the range of $3million, possibly more, but no way has been yet detailed and fully pursued to raise the $1.5million at the very least to carry out needed renovation and restoration of the magnificent 19th century building we called home. Income took a hit during the last two years of Covid. There has been one unit in the building with tenants who have not paid rent as called for in their lease. Tenants in New York State have been protected from eviction by law. Through New York State’s Emergency Rental Assistance Program (ERAP) we have so far been able to recover all but $10,000 as of reports and correspondence by our treasurer that I recently read.
The shortfall in income and cash flow has hampered or slowed our ability to make even small needed or desirable repairs. Although a Committee for Renovation and Restoration of the Property was formed and has met regularly to advise the Board through engaging in design, construction and financing planning, it too is dependent on individuals who are challenged by family obligations, their own business activities, as well as age sometimes combined with illness. I frankly don’t see that we are or can move forward in the required expeditious manner. The work of the committee and their dedication has been formidable. If there is any reason, I can offer to sum it up, it is that I, and perhaps others, overestimated the ability of members to become involved beyond paying dues. We have not been able to replace ourselves. We all simply have challenging commitments to life, family and work that naturally take precedence. I sense burnout is likely or very possible for our Treasurer, Tom Wong. Trust me, I handled the tasks of setting up and maintaining the books before handing them over to him and a bookkeeper. Our tax reporting to IRS, NY State, NY City and NY State Charities Bureau have now been in order for a decade. We lose Tom as Treasurer, and our challenges and risks will increase dramatically.
In closing, the Board, under New York State Law, has fiduciary responsibility for the organization. It means they must take steps to safeguard the assets of the organization. That is their responsibility. The House is both and asset and a liability, and operating it for rental in a housing market for the general public is a significant liability and a financial risk to the Board, even as we have maintained Directors and Officer’s Liability Insurance since 2012. As a member I ask that you join me at the annual membership meeting, usually held on the last Saturday of January, in directing the Board to sell the property and explore, at the very least, options for use of the proceeds of the sale, consistent with Federal (IRS) and New York State Non-Profit Laws.
Gil
- January 2022
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July 2021
- Jul 29, 2021 Quarterly Membership Meeting
- May 2021
- February 2021
- January 2021
- October 2020
- May 2020
- April 2020
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January 2020
- Jan 29, 2020 Bro. Robert Zoller Transitions
- Jan 7, 2020 DGT's Undergraduate Life Advances
- Jan 5, 2020 Gallery House to Benefit from Colors, a Night of Art + Charity (EVENT CANCELLED)
- October 2019
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May 2019
- May 14, 2019 Saturday May 18: Strategic Plan Update Retreat
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April 2019
- Apr 28, 2019 Possible Strategic Partnership with Pratt or Others for Renovation of 272 Clinton Ave.
- Apr 21, 2019 Charting the Future: Some of the Challenges
- Apr 15, 2019 Results of design competition for placement of engraved bricks
- Apr 15, 2019 Charting the Future: Some of the Challenges
- Apr 15, 2019 DGT acknowledges and thanks its members for their generosity in 2018
- Apr 7, 2019 Gallery House's spring 2019 exhibit is themed "It's Not Me, It's My Image"
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February 2019
- Feb 26, 2019 DGT Calendar for 2019
- Feb 15, 2019 Gallery House engages in networking at CAA 2019 Conference
- Feb 13, 2019 DGT Alumni Association, Inc. elects its Board of Directors for 2019
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January 2019
- Jan 23, 2019 Saturday, February 2: Board Elections
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September 2018
- Sep 24, 2018 DGT Alumni Association’s Exhibit on Alumni Day
- August 2018
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May 2018
- May 12, 2018 DGT Alumni Association's 2017 Annual Report
- May 11, 2018 DGT Foundation's 2017 Annual Report
- April 2018
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March 2018
- Mar 13, 2018 DGT's Calendar Updated
- February 2018
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January 2018
- Jan 28, 2018 Adam Colello, Laura Arike and Rddhima Goylan join the Ranks of Pratt Students and Graduates Committed to Continuing Gallery House Internship Program
- Jan 28, 2018 Elections and Financial Recap of 2017 Highlighted Annual Membership Meeting
- Jan 28, 2018 The Mug Story
- Jan 3, 2018 Dues are due; Maintain your Connection!
- Jan 1, 2018 May the "Spirit of Hanna, My Delta Gamma," Help Make 2018 a Great Year
- November 2017
- August 2017
- March 2017
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January 2017
- Jan 6, 2017 Keep the Connection Going in 2017
- September 2016
- May 2016
- April 2016
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February 2016
- Feb 17, 2016 Bookkeeper Wanted
- January 2016
- December 2015
- November 2015
- October 2015
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September 2015
- Sep 25, 2015 Alumni Day 2015
- August 2015
- July 2015
- May 2015
Connecting current students and working professionals requires ongoing support of the Gallery House and Programs. Your support makes it all possible.