| Tibetan Heritage Center | ||||||
| 5 year financial plan for $1.1 million property value with $500,000 TAB members loan | ||||||
| Source | Amount | |||||
| TAB’s Cash on Hand | $ 138,000.00 | |||||
| Members $ 100.00 contribution | $ 22,000.00 | |||||
| Gillette Event Revenue & Harvard Med School | $ 600,000.00 | |||||
| Loan from Members | $ 500,000.00 | |||||
| Total | $ 1,260,000.00 | |||||
| Budget: Capital Cost and 5-Year Operating Cost (Projection) | ||||||
| Non-Recurring Expenses: Capital Cost | ||||||
| Building Acquisition/Closing | $ 1,105,000.00 | |||||
| Remodeling/Repair | $ 100,000.00 | |||||
| Furnishing, Equipment, other start up expense | $ 55,000.00 | |||||
| Total | $ 1,260,000.00 | |||||
| Non-Recurring Income: Initial Fund | ||||||
| Income Projection | Initial fund | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
| Cash in Hand | $ 160,000.00 | |||||
| Membership Fees(1) | $ 15,000.00 | $ 16,000.00 | $ 17,500.00 | $ 18,500.00 | $ 20,000.00 | |
| Fundraising Events(2) | $ 39,500.00 | $ 40,000.00 | $ 40,500.00 | $ 41,000.00 | $ 41,500.00 | |
| Facility Rental Income for Private Events | $ 9,000.00 | $ 10,000.00 | $ 10,000.00 | $ 10,000.00 | $ 10,000.00 | |
| Gillette Event Revenue & Harvard Med School(3) | $ 600,000.00 | |||||
| Loan from Members (4) | $ 500,000.00 | |||||
| Program Fees & enrollment | $ 2,950.00 | $ 2,950.00 | $ 2,950.00 | $ 2,950.00 | $ 2,950.00 | |
| Total Income | $ 1,260,000.00 | $ 66,450.00 | $ 68,950.00 | $ 70,950.00 | $ 72,450.00 | $ 74,450.00 |
| Expense Projection: | Initial fund | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
| Program Teacher Salaries(5) | $ 6,240.00 | $ 6,240.00 | $ 6,240.00 | $ 6,240.00 | $ 6,240.00 | |
| Property Insurance | $ 8,000.00 | $ 8,100.00 | $ 8,200.00 | $ 8,300.00 | $ 8,400.00 | |
| Utilities | $ 20,000.00 | $ 20,500.00 | $ 21,000.00 | $ 21,500.00 | $ 22,000.00 | |
| Building Maintenance | $ 5,000.00 | $ 5,000.00 | $ 5,000.00 | $ 5,000.00 | $ 5,000.00 | |
| Office Expenses | $ 1,000.00 | $ 1,000.00 | $ 1,000.00 | $ 1,000.00 | $ 1,000.00 | |
| Travel | $ 2,000.00 | $ 2,000.00 | $ 2,000.00 | $ 2,000.00 | $ 2,000.00 | |
| Professional Fees, Legal/Audit/Tax | $ 1,500.00 | $ 1,500.00 | $ 1,500.00 | $ 1,500.00 | $ 1,500.00 | |
| 1.5% interest to the loan per year | $ 7,500.00 | $ 7,275.00 | $ 7,050.00 | $ 6,825.00 | $ 6,600.00 | |
| Total Capital Cost | $ 1,260,000.00 | |||||
| Total Expense | $ 1,260,000.00 | $ 51,240.00 | $ 51,615.00 | $ 51,990.00 | $ 52,365.00 | $ 52,740.00 |
| Summary | Initial fund | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
| Total Income | $ 1,260,000.00 | $ 66,450.00 | $ 68,950.00 | $ 70,950.00 | $ 72,450.00 | $ 74,450.00 |
| Total Expense | $ 1,260,000.00 | $ 51,240.00 | $ 51,615.00 | $ 51,990.00 | $ 52,365.00 | $ 52,740.00 |
| Net Surplus / Deficit (8) | $ - | $ 15,210.00 | $ 17,335.00 | $ 18,960.00 | $ 20,085.00 | $ 21,710.00 |
| Capital Budget: | ||||||
| Building Acquisition/Closing | $ 1,105,000.00 | |||||
| Remodeling/Repair | $ 100,000.00 | |||||
| Furnishing, Equipment, other start up expense | $ 55,000.00 | |||||
| Total | $ 1,260,000.00 | |||||
| TAB’s Cash on Hand | $ 138,000.00 | |||||
| Members $ 100.00 contribution | $ 22,000.00 | |||||
| TAB’s Gillette Event Revenue | $ 600,000.00 | |||||
| Loan from Members | $ 500,000.00 | |||||
| Total | $ 1,260,000.00 | |||||
| Note: 1. Annual membership fee at $50/year | ||||||
| 2. Proceeds from yearly events hosted by TAB | ||||||
| 3. Gillette event revenue & Harvard Med. School | ||||||
| 4. Loan from TAB Members with or wothout interest | ||||||
| 5. Program Teacher Salaries at $520/month (3 teachers for a total of 6 hours a week @ $20/hr) | ||||||
| 6. Projected Expenses does not include property tax as it is assumed that TAB will be exempt from property tax | ||||||
| 7. Management pay not included. | ||||||
| 8. Surplus fund can be use towards refund of members loan | ||||||