Generator Board Update, March 17, 2015

GENERATOR INC | BOARD MEETING, MARCH 17, 2015

DIRECTOR’S UPDATE

Generator Board Meeting

March 17, 2015


DIRECTOR’S UPDATE

Financial Overview

Program Summary

Upcoming Activities


FINANCIAL OVERVIEW


Cash on hand, February 2015$104,646

January 2015$126,145

Percentage Change-8%


Cash on hand, February 2015$104,646

Outstanding Income, February 2015$8,500

Income-Expense, February 2015$5,730 / $27,229

Income-Expense, January 2015$17,758 / $22,169


0

37500

75000

112500

150000

August September October November December January 2015 February 2015

Cashflow - August 2014 to February 2015

Income Expense Balance


Revised Burn Rate, Remainder FY15Stretch assumptions to June 30• $104,000 Cash on hand• $12,250 Other income• ~$70,000 earned income (May need to revise)• $115,000 Gifts, grants ($50,000 committed)• ~$210,000 expenses64 percent burn by June 30, 2015, or~10 percent per month

~$117,000 in hand July 1, 2015


PROGRAMS


Outreach• Coordinator resigned• Program on hold, duties re-assigned• Short-term member hire?

~ $8,000


Education• Long-term coordinator hired• Education contract deliverables complete• New program strategy under development• Classes scheduled, under way• Fundraising in initial stages: - K12 professional development - Entrepreneurship support

~ $11,000


Operations• Buildout back on track• Fundraising, sponsorship opportunities• Organization, safety and signage are priorities• Member sign-in in progress

$34,000


Finance and Administration• Budget approved• Expense accounts created, in implementation• Financial controls under development• Strong staff buy-in, support


Accomplishments• Membership is solid studio added, waiting list

• Burton tour engaged 18 community members• New member meeting approach successful 1x• Maker in Residence outgoing and incoming

• UVM Classes design thinking and woodblock printing

• Birthday bash buy-in UVM, Champlain, BCA

• Site plan filed build out approved, under way


UPCOMING ACTIVITIES


Upcoming Activities• VtTA Lunch and Learn - March 17• Makers in Montpelier - March 19• LifeHack Social Hour - March 19• CMF STEM Education Meeting - March 20• Girls Make It Day - March 24• Vermont Works for Women - March 28• Generator Birthday - March 28• Pitch It, Fab It! Round 2 - April 2• UVM Student Social - April 9


THANK YOU!On to Jessica Lasher and Budget Detail

Generator Board Update, March 17, 2015

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Transcript of Generator Board Update, March 17, 2015