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GENERATOR INC | BOARD MEETING, MARCH 17, 2015
DIRECTOR’S UPDATE
Generator Board Meeting
March 17, 2015
GENERATOR INC | BOARD MEETING, MARCH 17, 2015
DIRECTOR’S UPDATE
Financial Overview
Program Summary
Upcoming Activities
GENERATOR INC | BOARD MEETING, MARCH 17, 2015
FINANCIAL OVERVIEW
GENERATOR INC | BOARD MEETING, MARCH 17, 2015
Cash on hand, February 2015
$104,646
January 2015
$126,145
Percentage Change
-8%
GENERATOR INC | BOARD MEETING, MARCH 17, 2015
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
GENERATOR INC | BOARD MEETING, MARCH 17, 2015
0
37500
75000
112500
150000
August September October November December January 2015 February 2015
Cashflow - August 2014 to February 2015
Income Expense Balance
GENERATOR INC | BOARD MEETING, MARCH 17, 2015
Revised Burn Rate, Remainder FY15
Stretch 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 expenses
64 percent burn by June 30, 2015, or
~10 percent per month
~$117,000 in hand July 1, 2015
GENERATOR INC | BOARD MEETING, MARCH 17, 2015
PROGRAMS
GENERATOR INC | BOARD MEETING, MARCH 17, 2015
Outreach
• Coordinator resigned
• Program on hold, duties re-assigned
• Short-term member hire?
~ $8,000
GENERATOR INC | BOARD MEETING, MARCH 17, 2015
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
GENERATOR INC | BOARD MEETING, MARCH 17, 2015
Operations
• Buildout back on track
• Fundraising, sponsorship opportunities
• Organization, safety and signage are priorities
• Member sign-in in progress
$34,000
GENERATOR INC | BOARD MEETING, MARCH 17, 2015
Finance and Administration
• Budget approved
• Expense accounts created, in implementation
• Financial controls under development
• Strong staff buy-in, support
GENERATOR INC | BOARD MEETING, MARCH 17, 2015
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
GENERATOR INC | BOARD MEETING, MARCH 17, 2015
UPCOMING ACTIVITIES
GENERATOR INC | BOARD MEETING, MARCH 17, 2015
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
GENERATOR INC | BOARD MEETING, MARCH 17, 2015
THANK YOU!
On to Jessica Lasher and Budget Detail

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Generator Board Update, March 17, 2015

  • 1. GENERATOR INC | BOARD MEETING, MARCH 17, 2015 DIRECTOR’S UPDATE Generator Board Meeting March 17, 2015
  • 2. GENERATOR INC | BOARD MEETING, MARCH 17, 2015 DIRECTOR’S UPDATE Financial Overview Program Summary Upcoming Activities
  • 3. GENERATOR INC | BOARD MEETING, MARCH 17, 2015 FINANCIAL OVERVIEW
  • 4. GENERATOR INC | BOARD MEETING, MARCH 17, 2015 Cash on hand, February 2015 $104,646 January 2015 $126,145 Percentage Change -8%
  • 5. GENERATOR INC | BOARD MEETING, MARCH 17, 2015 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
  • 6. GENERATOR INC | BOARD MEETING, MARCH 17, 2015 0 37500 75000 112500 150000 August September October November December January 2015 February 2015 Cashflow - August 2014 to February 2015 Income Expense Balance
  • 7. GENERATOR INC | BOARD MEETING, MARCH 17, 2015 Revised Burn Rate, Remainder FY15 Stretch 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 expenses 64 percent burn by June 30, 2015, or ~10 percent per month ~$117,000 in hand July 1, 2015
  • 8. GENERATOR INC | BOARD MEETING, MARCH 17, 2015 PROGRAMS
  • 9. GENERATOR INC | BOARD MEETING, MARCH 17, 2015 Outreach • Coordinator resigned • Program on hold, duties re-assigned • Short-term member hire? ~ $8,000
  • 10. GENERATOR INC | BOARD MEETING, MARCH 17, 2015 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
  • 11. GENERATOR INC | BOARD MEETING, MARCH 17, 2015 Operations • Buildout back on track • Fundraising, sponsorship opportunities • Organization, safety and signage are priorities • Member sign-in in progress $34,000
  • 12. GENERATOR INC | BOARD MEETING, MARCH 17, 2015 Finance and Administration • Budget approved • Expense accounts created, in implementation • Financial controls under development • Strong staff buy-in, support
  • 13. GENERATOR INC | BOARD MEETING, MARCH 17, 2015 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
  • 14. GENERATOR INC | BOARD MEETING, MARCH 17, 2015 UPCOMING ACTIVITIES
  • 15. GENERATOR INC | BOARD MEETING, MARCH 17, 2015 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
  • 16. GENERATOR INC | BOARD MEETING, MARCH 17, 2015 THANK YOU! On to Jessica Lasher and Budget Detail