UPDATE: SFAF Magnet Clinic Expansion Faces Financial Hurdles

As we posted in December of 2012, Magnet, the Gay/Bisexual mens health center funded by SF AIDS Foundation (SFAF) is looking to expand services and size by taking over the former space occupied by Superstar Video on Castro St. No easy feat as its now been revealed that they'll need to raise 7.9 million dollars to cover the cost of making that change a reality.

According to a recent post by the B.A.R., SFAF CEO, Neil Giuliano, said the fundraising process is currently underway. The plan is to gussy up and reconfigure the interior of the 474 Castro space and then combine three of SFAF disparate organizations-Magnet, The Stonewall Project, and STOP AIDS Project-under one roof creating a multi-plex of HIV/AIDS services. That is a chunk of cheddar Neil Guliano acknowledges. The new storefront alone is costing 170K  MORE per year than the 3 programs currently fork out for rent in the Castro. Guliano believes, all the fundraising, done in levels, could be accomplished between 36 and 48 months. SFAF also has the extra added challenge of filling the fundraising shoes left empty by the departure of the SF AIDS Walk's wallet. They recently decided to direct approximately 650K of annual Walk raised funds to Project Inform instead of its traditional beneficiary SFAF. The economic recovery might be in full swing according to the Obama administration, but, there is still a large amount of trickle down economics going on when it comes to charitable giving with many organizations across the board reporting less cash flow coming in from donors. SFAF has raised some new funds by expanding its board membership from seven to twenty-seven. Each new member, most executives hailing from corporate entities like the Gap or Wells Fargo, must contribute at least 10K for the honor of adding 'SFAF Board Member' to their charitable giving resume. Some AIDS activist have pointed out that Mr. Guliano, who's estimated yearly salary is a bit above/below a quarter of a million dollars-combined with other top SFAF execs-their salary take home tops 1.1 million dollars and SFAF should consider pay cuts to help with fundraising goals. These Exec's rank among some of the most well paid non-profit administrators in the country. Magnet SF's move also faces another hurdle as they're currently on the look out to find the perfect captain to helm this new endeavors vessel. A recent job post popped up in the Gay Politics Report: SFAF is seeking an accomplished and visionary executive leader to help develop and then lead its new 10,000 square foot home for gay/bi men's health and wellness which will house a sexual health clinic, counseling center and a variety of HIV/AIDS/STI prevention, treatment and community programs in the same location for the first time. It appears the current Exec. Directors of each of the three combined programs at Magnet are now going to have a new boss rather than remain in head honcho roles. Regardless of any of this Magnet will move continuing to do its good work within the community. The new space with its multi-level of  expanded services is projected to be up and running by end of October of 2013. If you want to contribute to the effort click the link here.