2023.02.06 Packet - Laserfiche WebLink

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Calendar Year 2023 Preliminary Budget Considering that 2023 will be a transition year where the new non-profit is just getting off the ground, and the project has not yet experienced a full 12-month fundraising cycle, it is difficult to precisely determine the level of revenue that is achievable. For purposes of 2023 budgeting, the committee used the most recent four months history as the basis for its projections. The following is the preliminary project budget for CY2023: Revenue assumptions: • The project budget for 2023 assumes that average monthly contributions received during 2023 will be in line with the average amount of contributions/pledges received each month during the period of October 1-January 31. [$16,517/4 = avg amount received per month: $4,129.25] • The average amount of pledges received per month was then applied to the 11 months of fundraising time remaining in 2023 to arrive at the total revenue projection included in the 2023 budget. [$4,129.25*11 = $45,421.75] Expense assumptions: • Operational expenses for: administrative filings, insurance, printing/advertising, and implementation of customer relationship management software. • Phase I assumes engagement with Northern Bedrock Corps for project in summer 2023. Expense/size of project will be scaled to funds available. •Phase II assumes permanent replacement of components listed; work would not commence until the level of funding needed to complete the component is secured. The order of the component repairs would be: (1) Roof and Chimney; (2) Siding. Targeted grants. The initial grants assessment conducted identified the following opportunities for consideration in 2023. Additional research is underway on each opportunity, and the scan for new potential funders will be ongoing. During first quarter, the team will be completing its review of the criteria and implications of pursuing inclusion on the National Register of Historic Places, and assessing whether the advantages of being placed on the register (e.g. access to new grants) are likely to outweigh the risks (e.g. higher costs for specified materials). Grant Name Institution/Business Minimum Maximum NRHP Req Match Req Heritage Preservation Grants Minnesota Historical Society Unspecified Unspecified No Unspecified Heritage Partnership Program Minnesota Historical Society 10,000.00$ Unspecified No Evaluated Minnesota Historical & Cultural Heritage Grants (Small) Minnesota Historical Society Unspecified 9,999.00$ No Encouraged Minnesota Historical and Cultural Heritage Grants ( Large) Minnesota Historical Society 10,000.00$ Unspecified No Encouraged Save America's Treasures (SAT) Grant National Park Service 125,000.00$ Unspecified Yes Yes Community Connectedness Grant St Paul & Minnesota Foundation 10,000.00$ 75,000.00$ No Unspecified Community Impact Grant F.R. Bigelow Foundation 10,000.00$ 100,000.00$ No Unspecified Community Impact Grant Mardag Foundation 7,500.00$ 50,000.00$ No Unspecified N/A Hanifl Foundation Unspecified Unspecified No Unspecified N/A MidwestOne Bank Foundation Unspecified Unspecified No Unspecified N/A Connexus Energy 500.00$ 25,000.00$ No Unspecified 2023 Budget REVENUE 2023 Cash from Individuals 7,000.00$ Prior Year Pledges Paid (Ind)1,000.00$ Cash from Businesses 20,000.00$ Prior Year Pledges Paid (Bus)2,000.00$ Grant Revenue 15,000.00$ TOTAL REVENUE 45,000.00$ EXPENSE 2022 Operational Expenses 5,000.00$ Temporary Roof Covering -$ Phase 0 - Grounds & Clean-Up 1,000.00$ Phase 1 - Mothball Phase 12,000.00$ Phase 2 - Roof, Siding, Chimney 31,000.00$ Phase 3 - Interior Phase I -$ Phase 4 - Interior Phase II -$ Phase 5 - Interior Phase III -$ TOTAL EXPENSE 49,000.00$ 2023 Net (4,000.00)$ Beginning Cash Balance 9,585.36$ Ending Cash Balance 5,585.36$