Orange County NC Website
Browse       Search
16 <br /> `.., 'A r, _ ntr.e <br /> Financial Summary <br /> Financial Highlights <br /> The expenses listed here represent what it will take to fund the running of a <br /> neighborhood association. It compares favorably with other centers locally and around <br /> the country in terms of operating costs. The center can continue to run nearly <br /> completely on donated time and effort, but many significant opportunities will be <br /> missed. If the neighborhood is to become a thriving part of Chapel Hill, it must develop <br /> the economic means to grow in place. A fully funded RENA Center can make that <br /> happen. <br /> Although the first year of operation will be significantly helped by the mitigation fund <br /> we are anticipating additional funds from room rentals (including a daycare), some <br /> from a few small community partnership ventures we plan to launch. We are also <br /> going to begin offering memberships. The first year's budget does not depend upon <br /> • <br /> membership as a significant source of revenue. <br /> The second and third years of operations will depend upon two large sources of <br /> revenue: a development grant to build the capacity of the center to incubate <br /> community partnership businesses (including the training needed), and an extremely <br /> robust membership that relies heavily on virtual memberships. Although that is <br /> somewhat risky, obtaining the funding noted would require 250 members at a dollar a <br /> day for the second year and more people in the third. In addition, however, the <br /> revenue is not the foundation of the operating budget. Modest increases in the revenue <br /> from the community cooperatives, room rentals, and grants other than the incubator <br /> grant should allow us to match our expenses. We have diversified our possible revenue <br /> sources to limit our vulnerability. In addition, we anticipate that we will use profits to <br /> fund community partnership initiatives and to expand the services we provide to the <br /> neighborhood. <br /> 1 <br /> CONFIDENTIAL - DO NOT DISSEMINATE, This business plan contains confidential, trade-secret <br /> information and is shared only with the understanding that you will not share its contents or ideas with <br /> third !parties ies V,;ithout the express written consent of the plan author, <br />