Presentation Transcript

1. Compass Project Springboard

2. How can Compass Project diversify its offerings to create revenue streams that sustain its core mission while not distracting from it? Compass Project needs a business model that: allows the organization to support its core mission is sustainable in current non-profit landscape provides diverse set of revenue streams (grants, donations, program fees) so that income is not overly dependent on local, state, & federal funds
3. Compass Project Mission To use boat building and rowing to provide positive direction to youth by encouraging the development of personal responsibility and community and environmental engagement.
4. Current Programs Newer Programs (<2 years) Summer-long day camp collaboration Two-week camp with SailMaine Adult education classes Core Programs (>2 years) Boat building Year-long Semester-long Week-long After school rowing
5. In its first 10 years Compass Project… Served more than 1,600 students Adapted to diverse educational needs Provided positive direction to youth Built a strong reputation Partnered with Spurwink
6. Spurwink – Building resilient individuals, families and communities SPURWINK VISION Spurwink is a leader in providing innovative and strengths-based services that empower individuals, with their families and communities, to realize their optimal potential. Spurwink embraces and celebrates the uniqueness of each individual. Personal growth is fostered through nurturing relationshipsand treating everyone with dignity, respect and unconditional positive regard. Spurwink excels at meeting the diverse needs of those we serve. Our services are individualized, evidence-based and developmentally-focused.Together with children, youth and adults, we create enriching environments in homes, schools, and communities. 
7. FY2014 budget=$260,288 Expenses Highlights Revenue Highlights Grant Revenue - $35k Annual Fund - $40k Corp Sponsorship - $30k Program fees - $40k Direct Payroll - $121k Education Supplies - $15k Rent - $27k Administration - $19.5k Fundraising - $13.5k Compass Project projects a $84,288 deficit for FY2014, a 18.73% reduction since FY2013
8. Economics of Program - Cost A year-long boat building program for 12-15 students costs $23k -$26k or $650 per 2hr session with 2 boat builders & volunteers. Administrative support: program & assessment design / implementation, ordering & invoicing, marketing, grant writing, fundraising.
9. Economics of Program – Rev. School contributes 8k If boat sells, revenue = 2-3k Remaining 10-15k is gifts, grants or is underwritten by Spurwink (varies widely) How do we fill the gap?
10. What we have learned Transferable benefits STEM ELL Adult Education Corporate team building Varied delivery schedule Strength in collaboration
11. Resources and Assets New Course Navigators Underutilized shop space capacity Partnerships: Portland Mentoring Alliance, Telling Room, SailMaine, Rippleffect, Spurwink Recognizable brand Skilled faculty In process of creating specialized assessment
12. Challenges Launching fledgling programs Lacking operational experience Finding appropriate price point & projects Lack of needs analysis Staff knows how to run quality programs, not build a business Understaffed
13. How can Compass Project diversify its offerings to create revenue streams that sustain its core mission while not distracting from it? Compass Project needs a business model that: allows the organization to support its core mission is sustainable in current non-profit landscape provides diverse set of revenue streams (grants, donations, program fees) so that income is not overly dependent on local, state, & federal funds