Diversified Financial Model

In order to establish a sustainable long-term plan for the community space, this proposal focuses on diversifying revenue streams and supporting the local community. This includes various income streams such as fundraising, grants, sponsorships, donations, and tiered membership. Leveraging the strengths of the community can foster opportunities for involvement and collaboration for the success of the community space. This proposal aims to develop a more reliable source of income while fostering a sense of ownership within the community.

Staff

These are job positions that would ideally be filled in order to operate and maintain SPAACE. Initially, these roles could be filled on a part-time basis or by outsourcing to third-party organizations.

Director

Organizes and executes plans to achieve the organization’s goals. Is the public-facing representative of the organization.

Coordinator

Develops and implements operational strategies agreed upon. Monitors performance and operational goals, oversees day-to-day operations.

Accounting/Bookkeeping

Oversees all financial operations: develops and manages budgets for organization, ensures that resources are allocated appropriately, manages payroll, taxes, etc.

Administrator

Manages meetings, schedules and sets agendas. Keeps track of decisions/ resolutions, and provides input and support on strategic planning.

Legal

Ensures compliance with regulatory requirements. Is responsible for legal documents, communicates with regulatory agencies, and represents the organization in legal matters.

Funding & Grantwriting

Develops and executes fundraising strategies, identifies funding sources, creates fundraising events and grant proposals.

Operational

Membership Dues

Aside from sweat equity, Resident and Open members can access classes by purchasing monthly/weekly passes. Philanthropist members contribute fixed amounts per month in exchange for free access to services, activities and public events.

Donations

Charitable gifts of cash and assets from members of the public and businesses

Event Rentals

Individuals and organizations can rent the entire space or part of the space for a fee

Fundraisers

Local fundraising activities such as donation drives and events can be conducted in order to promote the circulation of money within the community

Fundraisers

LOCAL NON-LOCAL

Fundraising activities such as crowdfunding can be conducted in order to attract investment through collaborative efforts beyond Sunset Park Grants

There are a variety of grants available at the federal, city and state level. Other options may include Philanthropist foundations and charitable organizations.

Sponsorships

Corporate sponsorships can bring in additional revenue for their fundraising events and campaigns without additional overhead or costs.

Salaries

Paid to staff directly hired by the organization

Contractor

Organizations that run the programming will receive most of the earnings from the program.

Maintenance

For general upkeep of the physical space and operations including repairs, the cost of electricity and internet/phone services.

Communications

Building and maintaining communication strategies; social media management, website development and printing materials.

Insurance

Protection against risks and liabilities that may occur. Based on expert advice.

Supplies & Equipment

Purchasing workshop materials and items that are needed for the space. Could be obtained via donations.

NON-RECURRING

Legal Advisory

Common legal advisory needs for non-profit organizations may include tax laws, labor laws, compliance, contractual agreements and risk management.

Capital Improvements

Significant infrastructural changes such as additions, renovations and replacements

Others

Expenses that do not fall under any specific category and not related to the organizations core services Might vary and be unexpected.