Heartwood and the Timber Framers Guild 1. Are there any issues with the Guild, a 501c3 non-profit organization, purchasing a for-profit business and maintaining the Guild’s non-profit status? 2. Does the Guild have the resources to purchase a profitable S corporation at the fair market value – or is Will being generous? 3. Will there be courses other than timber framing offered? How will we be able to maintain the focus on timber framing? 4. If the purchase doesn’t include the property, would this actually result in a permanent Guild home, a place where the Guild ‘magic’ could happen? Would the Guild have the option or obligation to buy the real estate property from the Will & Michele at some point? 5. Would the TFG office/home shift back to the East? The Guild is currently incorporated in AZ – to save on corporate audit fees - with an office in WA. Would these additional costs be incurred with a shift back to the East? 6. Will the focus continue to be educating all types of craftspeople or will there be a focus on professional timber framers working in shops? Will the Guild having a hands on educational base help support the apprenticeship program curriculum? 7. Will there be a need for additional management? Would management help teach the classes as Will has done? 8. Will there be any additional costs or liabilities to the Guild with the acquisition of Heartwood? 9. Is the Guild confident this will be a revenue positive effort? What research has been done to confirm that this will not be a financial drain on the Guild? 10. How will this affect the relationships that the Guild has established with other schools such as Rocky Mt Workshops, Econest, Fox Maple, North House, etc? 11. Will the Guild be paying rent to the Beemers? 12. Is the Guild considering the purchase of the assets or will there be a stock purchase for the Heartwood business? The letter moves from a conversation about Heartwood School to a conversation about building an Eastern Guild facility. Why not start with the facility?
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Posted Apr 30, 2019 1:41 PM PST. report this discussion