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15 <br />of Hugo. This includes contributing important information and artifacts that the commission has located, collected, and <br />preserved regarding the Hugo Community for displays; and playing a leadership role in determining and executing the <br />strategies that will be used to educate the community, encourage personal and community responsibility for preserving <br />our past, and fostering an understanding and appreciation of our history. <br />The Hopkins Schoolhouse and Heritage Center Steering Committee would continue to lead the project during the <br />formation of the new non-profit, and transition to parallel roles on the Board of Directors for the new organization. <br />During the formation period, the Steering Committee will seek to recruit additional members to join the board of <br />directors of the new nonprofit organization once formed. <br />Long Term Management <br />The new nonprofit Hopkins Schoolhouse and Heritage Center will be responsible for the long-term management, <br />preservation, and sustainability of the Hopkins schoolhouse and programs offered through the heritage center. It will be <br />governed by a board of directors that includes representatives from the Forest Lake Historical Society and the Hugo <br />Historical Commission, in addition to area residents, educators, and business leaders. The initial Board of Directors and <br />officers will include: <br />Justin Brink, President (Ex-Officio, Voting Representative of Forest Lake Historical Society) <br />Craig Moen, Vice President (Ex-Officio, Voting Representative of Hugo Historical Commission) <br />Liz Cinqueonce, Secretary <br />Cindy Petty, Treasurer <br />Angela Minner, At-Large Member <br />Floyd Petty, At-Large Member <br />Draft Articles of Incorporation and Bylaws for the organization have been drafted and are enclosed as Attachments 3 <br />and 4. Confirmation from David Snyder indicating Johnson & Turner will assist with the legal review of the governance <br />documents on a volunteer and gratis basis is included as Attachment 5. B. Scott Binion has also confirmed that Haugen <br />Binion CPA will assist with the nonprofit filings on a volunteer basis. <br />Business Model for the Hopkins Schoolhouse and Heritage Center <br />The business model for the Hopkins Schoolhouse and Heritage Center will include multiple revenue sources including <br />but not limited to grants, program/service fees, event/rental fees, as well as corporate and individual donations. Further <br />research is needed in each of these areas to build out the long-term business model for the Heritage Center. <br />To that end, the University of St Catherine master’s in business administration (MBA) program has confirmed they will <br />provide a team of 3-4 MBA capstone students during July and August of 2023 to consult on the development of the <br />business plan. The letter of confirmation is included as Attachment 6. The specifics of the project requirements will be <br />determined based on the status of the project in early summer, but the following are examples of activities and key <br />questions that may be considered for inclusion in the project description: <br />1. Conduct a market analysis to identify what other entities may be providing similar services in the region. Define <br />how their services and capacities are similar or different from what is envisioned for the Hopkins Schoolhouse <br />and Heritage Center. Summarize trends and themes that illustrate what similarly positioned and successful <br />organizations do and why it works, and develop recommendations to inform the long-term business plan for <br />HSHC. <br />2. Review case studies of comparable non-profits, and summarize trends and key themes that emerge as factors <br />for success. What are the programs and services that have emerged as key contributors to sustainability for