following the financial model shown here:
a) 120K Event Rental A limited number of select events will contribute to the annual revenue goal. - Goal: 100K for up to 12 high yield events (weddings / corporate @ $8K-10K per) - Goal: 20K for 15 smaller event (Meetings, Functions, Private Fund Raisers @ $500-$1,500) Weddings and Events would be limited during prime summer months
b) 120K Coach House Lease Goal: Coach House is expanded and repurposed as a Euro-cafÈ. (Light fare) Private operator leases for 10K monthly x 12 = 120K. Operator also manages event catering (See Colectivo Cafe on Milwaukee's lakefront for inspiration)
c) 30K Three Office Spaces: Back Rooms of the Estate Goal: 3 office spaces that compliment the estate use. Rental: 3 x $800-1,200 per month = 30,000
d) $50K Steward Program: Annual (Not included above in the 300K projection) The Steward Program builds a community base and support group for the estate. Similare Mansion Conversions across the country use this fund-raising strategy to self-sustain. * Goal: 500 Stewards x $99 (average) = 50,000 * The Steward Program is a group of individuals who support the Foundation's community programs, education classes, and outreach programs. Research shows a Steward Program is vital to maintaining participation in supporting the mission of the Not-For Profit. * Incentives for being a Steward could include discounts for classes, cafe purchases and special events.
e) 0-$250K (plus) Annual Fundraising goal Starting goal: 75K Annual. This category seeks larger – one time, individual donations for preservation of the historic landscape, gardens and architecture.
f) 10K Short-term Space Lease Goal: Space may be rented short term (quarterly) to host classes / groups. Examples could be : Ballroom rental for dance lessons. Gallery Rental for Painting or show exhibition, yoga, holistic.
g) 35K Seasonal Events: (Fund Raisers) Cosponsored, revenue creating event examples: 10K October: Haunted House (2 weeks) 5 K December: Christmas or Holiday Market 5 K Spring: Antique Showcase 5 K Summer: Art Fair (Weekend Event) 10 K Aug / Sept: Fall Fest (Weekend Event) Local Beer Fest
h) Exhibits, Performances, Sponsored Classes, Family Events & Shows ** These are break-even events, intended to grow membership and create annual stewardship (donations). | |||||||||
STAFF - BUSINESS FUND - EVENT CREATION: 150K Staff / Payroll: 40K Business Fund: Operating the non-profit 40K Event Creation Fund (Funds for community events and education sponsored at the estate) 50K Estate Operational Costs (Utilities, mechanicals and operations)
* Additional Revenue 300K in Annual Revenue minus 280 Operations = 20K(plus) Unused Revenue The Steward Program would also bring in additional revenue not listed ($0-$50,000)
Unused Revenue is a safety net and could be applied toward: 1) Additional Community Outreach program 2) Growing the estate trust fund 3) Additional personnel to increase fund-raising and event creation | ||