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Generator Board Update, November 10, 2015
1. GENERATOR INC | BOARD MEETING, November 10, 2015
DIRECTORâS UPDATE
Generator Board Meeting
November 10, 2015
2. GENERATOR INC | BOARD MEETING, November 10, 2015
Revised FY16 Budget Summary (July 2015)
⢠$63,218 in hand July 1, 2015
⢠$128,926 Total Income
⢠$151,290 Total Expense
⢠$40,854 Balance YTD*
Cash on hand, November 9, 2015â¨
$32,652
*Discrepancy for Q2*â¨
$8,202
3. GENERATOR INC | BOARD MEETING, November 10, 2015
Cash on hand, November 9, 2015â¨
$32,652
*Discrepancy for Q2*â¨
$8,202
Income-Expense, October 2015â¨
$15,532 / $26,209
Income-Expense, September 2015â¨
$18,385 / $26,642
Burn rateâ¨
~ $11-12k/mo
4. GENERATOR INC | BOARD MEETING, November 10, 2015
CashďŹow - August 2014 to June 30 2015
0
40000
80000
120000
160000
Aug Oct Dec Feb Apr June August October
Income Expense Balance
6. GENERATOR INC | BOARD MEETING, November 10, 2015
Key Assumptions for 2016
⢠Aggressive, targeted recruitment eg companyâ¨
members
⢠Drive hard to promote Generator as a âplatform,ââ¨
not âstovepipesâ or programsâ¨
⢠Group activities around community, educationâ¨
entrepreneurship, and BTV propositionâ¨
⢠More research, assessment - data
⢠New âSellableâ Activitiesâ¨
* Big Maker
* Maker to Market (âEntrepreneur in Residence)â¨
* Maker TAâ¨
* Educationâ¨
7. GENERATOR INC | BOARD MEETING, November 10, 2015
Fundraising to Date
⢠Outstanding commitments, 2015â¨
~ $39,500â¨
⢠Requests to go out in 2015â¨
~ $90,500â¨
⢠Outstanding commitments Q3 2016â¨
~ $60,500â¨
â¨
Total grants and contributionsâ¨
~$190,500
8. GENERATOR INC | BOARD MEETING, November 10, 2015
Additional Fundraising
⢠Company sponsorships e.g. Merchantsâ¨
~ $6,000
⢠Company memberships e.g. Huskyâ¨
~ $4,500â¨
⢠Other grants e.g. Kauffmanâ¨
~ $85,000
⢠Other income e.g. UVM grant, CCVâ¨
~ $47,500â¨
â¨
Total other potential incomeâ¨
~$143,000
9. GENERATOR INC | BOARD MEETING, November 10, 2015
Total
⢠Known fundraisingâ¨
~ $190,500
⢠Potential fundraisingâ¨
~ $143,000â¨
â¨
Total FY16 â¨
~$333,500
10. GENERATOR INC | BOARD MEETING, November 10, 2015
Known Fundraising Potential Fundraising
Foundation Support
Bay Paul Foundation, $6,000
Argosy Foundation, $50,000
Building and General Services
Administration, $40,000
Foundation Support
Vermont Community Foundation, $10,000â¨
Vermont Womens Fund, $10,000
Kauffman Foundation, $65,000
Parter support
Champlain College, $4,000
University of Vermont, $2,500
Parter support
Community College of Vermont, $20,000
City of Burlington, Program Grant, $5,000
Individual giving
Metz Family Foundation, $50,000
Stiller Family Foundation, $25,000
Individual giving
Stern, $2,500
Robins, $10,000
Serendipity Fund, $10,000
Company support
Physicians Computer, $6,000
NorthďŹeld Savings Bank, $4,500
Burlington Telecom, $2,500
Company support
Husky, $6,000
Merchants Bank, $4,500
Totalâ¨
$190,500
Totalâ¨
$143,000
12. GENERATOR INC | BOARD MEETING, November 10, 2015
Program, Activity Report
⢠Education: program is working; modest â¨
expansion in focus; new committee membersâ¨
⢠Shops: certiďŹcations working, CNC coming â¨
online, safety regime working, clean and safe
⢠Membership: Growing upward of 154; moreâ¨
work to increase share of $65 membersâ¨
⢠Outreach: Strong, âIdea Boxâ in place, signs â¨
under creation, web presence solid, BIG Makerâ¨
well-received, good Pitch It, Fab It! line upâ¨
⢠Member retail activity ramping up for the â¨
holiday ie at Generator and BCA market
13. GENERATOR INC | BOARD MEETING, November 10, 2015
Highlights
⢠New studio member Christine Braun doubling â¨
studio size, expanding kids/robotics offeringâ¨
⢠Two new makers in residence selected, Devinâ¨
Wilder (accoustics), Athena K (puppetry)
⢠Next BIG Maker selected, Paolo Pedercini â¨
(games and complex systems; molleindustria.org;)â¨
⢠Volunteer meeting had highest attendance yet (14)â¨
with excellent engagement, ownership
⢠Reconciled.it on board with support toâ¨
entrepreneur in residence programâ¨
⢠M//E Design to present Generator at Urbanâ¨
Manufacturing Alliance in NYC this weekend
14. GENERATOR INC | BOARD MEETING, November 10, 2015
Pain points
⢠Finding âquiet timeâ for grant-writing, partner â¨
outreach etc. attributable to high level of program â¨
support e.g. eventsâ¨
⢠Events - low independence around outreach, â¨
coordination, funding
⢠Admin - syncing member system with accountingâ¨
⢠Membership - growing paying base
⢠Program development - focus and momentum
15. GENERATOR INC | BOARD MEETING, November 10, 2015
Upcoming activities
⢠BIG Maker 11/12â¨
⢠Accounting controls push 11/14â¨
⢠Pitch It, Fab It! 11/20â¨
⢠Holiday party 12/4â¨
⢠Holiday market 12/12â¨
⢠Holiday classes e.g. laser cut package designâ¨
⢠Grant writing - 3 proposals out by 12/1