Hands On! Children's Art Museum

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Art School Museum Business Plan

Appendix

Funding Forecast
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Funding
Membership 0% $1,500 $2,000 $2,500 $2,400 $2,400 $2,400 $2,400 $2,300 $2,200 $2,200 $2,200 $2,500
Admissions 0% $4,080 $5,280 $6,000 $6,600 $6,600 $6,600 $6,600 $6,000 $4,200 $4,200 $4,200 $6,000
Culture Bugs/Art Colony/Apprentice 0% $2,600 $2,800 $3,000 $4,533 $4,533 $4,533 $4,533 $4,533 $3,200 $3,200 $3,200 $4,533
Family Wkshp/Film & Concert Series 0% $205 $505 $205 $505 $205 $505 $205 $505 $205 $505 $205 $505
Birthday Parties/Rentals 0% $0 $275 $275 $275 $275 $275 $275 $275 $275 $275 $275 $275
Outreach Programs 0% $400 $900 $1,100 $1,200 $1,200 $1,200 $1,200 $1,200 $1,100 $1,100 $1,100 $1,200
Curiosity Shop 0% $700 $1,500 $1,800 $1,400 $1,600 $1,700 $1,700 $1,700 $1,500 $1,500 $1,500 $1,600
Foundation Grants 0% $0 $0 $10,000 $0 $10,000 $0 $0 $10,000 $0 $10,000 $0 $10,000
Corporate Sponsorship 0% $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000
Annual Family Benefit/Events 0% $0 $5,000 $0 $0 $0 $35,000 $0 $0 $5,000 $0 $0 $0
Affinity Campaigns 0% $0 $300 $400 $0 $500 $500 $0 $500 $500 $0 $500 $500
Total Funding $10,485 $19,560 $26,280 $17,913 $28,313 $53,713 $17,913 $28,013 $19,180 $23,980 $14,180 $28,113
Direct Cost of Funding Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Membership $60 $80 $90 $100 $110 $110 $110 $110 $90 $90 $90 $90
Admissions $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Culture Bugs/Art Colony/Apprentice $100 $130 $140 $200 $200 $200 $200 $200 $150 $150 $150 $200
Family Wkshp/Film & Concert Series $25 $275 $25 $275 $25 $275 $25 $275 $25 $275 $25 $275
Birthday Parties/Rentals $0 $63 $63 $63 $63 $63 $63 $63 $63 $63 $63 $63
Outreach Programs $20 $45 $55 $65 $75 $75 $75 $70 $55 $55 $55 $75
Curiosity Shop $350 $750 $900 $700 $800 $850 $850 $850 $750 $750 $750 $800
Foundation Grants $15 $15 $15 $15 $15 $15 $15 $15 $15 $15 $15 $15
Corporate Sponsorship $10 $10 $10 $10 $10 $10 $10 $10 $10 $10 $10 $10
Annual Family Benefit/Events $0 $500 $0 $0 $0 $2,500 $0 $0 $500 $0 $0 $0
Affinity Campaigns $0 $5 $5 $0 $5 $5 $0 $5 $5 $0 $5 $5
Subtotal Cost of Funding $580 $1,873 $1,303 $1,428 $1,303 $4,103 $1,348 $1,598 $1,663 $1,408 $1,163 $1,533
Personnel Plan
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Directors 0% $7,200 $7,200 $7,200 $7,200 $7,200 $7,200 $7,200 $7,200 $7,200 $7,200 $7,200 $7,200
Culture Bugs/Art Colony Coordinator 0% $0 $0 $0 $720 $720 $720 $720 $720 $720 $720 $720 $720
Curator 0% $900 $900 $900 $900 $900 $900 $900 $900 $900 $900 $900 $900
Store Staff 0% $1,360 $1,360 $1,360 $1,360 $1,360 $1,360 $1,360 $1,360 $1,360 $1,360 $1,360 $1,360
Junior Staff 0% $0 $810 $1,215 $1,215 $1,215 $1,215 $1,215 $1,215 $1,215 $1,215 $1,215 $1,215
Senior Staff 0% $3,120 $3,120 $3,120 $3,120 $3,120 $3,120 $3,120 $3,120 $3,120 $3,120 $3,120 $3,120
Total People 10 12 13 14 14 14 14 14 14 14 14 14
Total Payroll $12,580 $13,390 $13,795 $14,515 $14,515 $14,515 $14,515 $14,515 $14,515 $14,515 $14,515 $14,515
General Assumptions
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Plan Month 1 2 3 4 5 6 7 8 9 10 11 12
Current Interest Rate 6.50% 6.50% 6.50% 6.50% 6.50% 6.50% 6.50% 6.50% 6.50% 6.50% 6.50% 6.50%
Long-term Interest Rate 7.00% 7.00% 7.00% 7.00% 7.00% 7.00% 7.00% 7.00% 7.00% 7.00% 7.00% 7.00%
Tax Rate 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Other 0 0 0 0 0 0 0 0 0 0 0 0
Surplus and Deficit
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Funding $10,485 $19,560 $26,280 $17,913 $28,313 $53,713 $17,913 $28,013 $19,180 $23,980 $14,180 $28,113
Direct Cost $580 $1,873 $1,303 $1,428 $1,303 $4,103 $1,348 $1,598 $1,663 $1,408 $1,163 $1,533
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Direct Cost $580 $1,873 $1,303 $1,428 $1,303 $4,103 $1,348 $1,598 $1,663 $1,408 $1,163 $1,533
Gross Surplus $9,905 $17,687 $24,977 $16,485 $27,010 $49,610 $16,565 $26,415 $17,517 $22,572 $13,017 $26,580
Gross Surplus % 94.47% 90.42% 95.04% 92.03% 95.40% 92.36% 92.47% 94.30% 91.33% 94.13% 91.80% 94.55%
Expenses
Payroll $12,580 $13,390 $13,795 $14,515 $14,515 $14,515 $14,515 $14,515 $14,515 $14,515 $14,515 $14,515
Sales and Marketing and Other Expenses $4,075 $4,600 $4,400 $4,600 $5,000 $4,500 $4,500 $4,650 $4,500 $4,500 $4,500 $4,500
Depreciation $167 $167 $167 $167 $167 $167 $167 $167 $167 $167 $167 $167
Leased Equipment $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50
Utilities $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200
Insurance $0 $0 $0 $875 $0 $0 $0 $875 $0 $0 $0 $875
Payroll Taxes 15% $1,887 $2,009 $2,069 $2,177 $2,177 $2,177 $2,177 $2,177 $2,177 $2,177 $2,177 $2,177
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Operating Expenses $19,959 $21,416 $21,681 $23,584 $23,109 $22,609 $22,609 $23,634 $22,609 $22,609 $22,609 $23,484
Surplus Before Interest and Taxes ($10,054) ($3,729) $3,296 ($7,099) $3,901 $27,001 ($6,044) $2,781 ($5,092) ($37) ($9,592) $3,096
EBITDA ($9,887) ($3,562) $3,463 ($6,932) $4,068 $27,168 ($5,877) $2,948 ($4,925) $130 ($9,425) $3,263
Interest Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Taxes Incurred $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Net Surplus ($10,054) ($3,729) $3,296 ($7,099) $3,901 $27,001 ($6,044) $2,781 ($5,092) ($37) ($9,592) $3,096
Net Surplus/Funding -95.89% -19.06% 12.54% -39.63% 13.78% 50.27% -33.74% 9.93% -26.55% -0.16% -67.65% 11.01%
Pro Forma Cash Flow
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Cash Received
Cash from Operations
Cash Funding $9,646 $17,995 $24,178 $16,480 $26,048 $49,416 $16,480 $25,772 $17,646 $22,062 $13,046 $25,864
Cash from Receivables $0 $28 $863 $1,583 $2,080 $1,461 $2,333 $4,202 $1,460 $2,217 $1,547 $1,892
Subtotal Cash from Operations $9,646 $18,023 $25,041 $18,063 $28,128 $50,877 $18,813 $29,974 $19,106 $24,279 $14,593 $27,756
Additional Cash Received
Sales Tax, VAT, HST/GST Received 0.00% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Other Liabilities (interest-free) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Sales of Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Sales of Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Investment Received $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Cash Received $9,646 $18,023 $25,041 $18,063 $28,128 $50,877 $18,813 $29,974 $19,106 $24,279 $14,593 $27,756
Expenditures Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Expenditures from Operations
Cash Spending $12,580 $13,390 $13,795 $14,515 $14,515 $14,515 $14,515 $14,515 $14,515 $14,515 $14,515 $14,515
Bill Payments $240 $7,334 $10,800 $8,767 $10,125 $9,777 $14,871 $7,995 $9,918 $8,929 $8,978 $8,984
Subtotal Spent on Operations $12,820 $20,724 $24,595 $23,282 $24,640 $24,292 $29,386 $22,510 $24,433 $23,444 $23,493 $23,499
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Principal Repayment of Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Liabilities Principal Repayment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Long-term Liabilities Principal Repayment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Purchase Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Purchase Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Dividends $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Cash Spent $12,820 $20,724 $24,595 $23,282 $24,640 $24,292 $29,386 $22,510 $24,433 $23,444 $23,493 $23,499
Net Cash Flow ($3,174) ($2,701) $446 ($5,219) $3,488 $26,585 ($10,573) $7,464 ($5,328) $835 ($8,900) $4,257
Cash Balance $21,826 $19,125 $19,571 $14,351 $17,839 $44,424 $33,851 $41,315 $35,987 $36,822 $27,922 $32,179
Pro Forma Balance Sheet
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Assets Starting Balances
Current Assets
Cash $25,000 $21,826 $19,125 $19,571 $14,351 $17,839 $44,424 $33,851 $41,315 $35,987 $36,822 $27,922 $32,179
Accounts Receivable $0 $839 $2,376 $3,615 $3,465 $3,650 $6,487 $5,587 $3,626 $3,701 $3,402 $2,989 $3,346
Inventory $1,500 $920 $2,060 $1,757 $1,571 $1,433 $4,513 $3,165 $2,567 $1,904 $1,549 $1,386 $1,686
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $26,500 $23,585 $23,561 $24,943 $19,388 $22,923 $55,424 $42,603 $47,509 $41,592 $41,773 $32,297 $37,211
Long-term Assets
Long-term Assets $8,500 $8,500 $8,500 $8,500 $8,500 $8,500 $8,500 $8,500 $8,500 $8,500 $8,500 $8,500 $8,500
Accumulated Depreciation $0 $167 $334 $501 $668 $835 $1,002 $1,169 $1,336 $1,503 $1,670 $1,837 $2,004
Total Long-term Assets $8,500 $8,333 $8,166 $7,999 $7,832 $7,665 $7,498 $7,331 $7,164 $6,997 $6,830 $6,663 $6,496
Total Assets $35,000 $31,918 $31,727 $32,942 $27,220 $30,588 $62,922 $49,934 $54,673 $48,589 $48,603 $38,960 $43,707
Liabilities and Capital Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Current Liabilities
Accounts Payable $0 $6,972 $10,509 $8,429 $9,806 $9,273 $14,607 $7,663 $9,621 $8,630 $8,680 $8,630 $10,281
Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Current Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Current Liabilities $0 $6,972 $10,509 $8,429 $9,806 $9,273 $14,607 $7,663 $9,621 $8,630 $8,680 $8,630 $10,281
Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Liabilities $0 $6,972 $10,509 $8,429 $9,806 $9,273 $14,607 $7,663 $9,621 $8,630 $8,680 $8,630 $10,281
Paid-in Capital $70,000 $70,000 $70,000 $70,000 $70,000 $70,000 $70,000 $70,000 $70,000 $70,000 $70,000 $70,000 $70,000
Accumulated Surplus/Deficit ($35,000) ($35,000) ($35,000) ($35,000) ($35,000) ($35,000) ($35,000) ($35,000) ($35,000) ($35,000) ($35,000) ($35,000) ($35,000)
Surplus/Deficit $0 ($10,054) ($13,783) ($10,487) ($17,586) ($13,685) $13,316 $7,271 $10,052 $4,960 $4,923 ($4,670) ($1,574)
Total Capital $35,000 $24,946 $21,218 $24,513 $17,414 $21,315 $48,316 $42,271 $45,052 $39,960 $39,923 $30,330 $33,426
Total Liabilities and Capital $35,000 $31,918 $31,727 $32,942 $27,220 $30,588 $62,922 $49,934 $54,673 $48,589 $48,603 $38,960 $43,707
Net Worth $35,000 $24,946 $21,217 $24,513 $17,414 $21,315 $48,315 $42,271 $45,052 $39,960 $39,922 $30,330 $33,426