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HomeMy WebLinkAboutCFCLT Operating BudgetFY24/25 FY25/26 $90,000.00 $94,500.00 $6,000.00 $6,500.00 $8,000.00 $14,975.00 $10,000.00 $16,000.00 $20,000.00 $45,000.00 $50,000.00 $55,000.00 $0.00 $0.00 $0.00 $0.00 $0.00 $30,000.00 $184,000.00 $261,975.00 $2,500.00 $3,000.00 $4,200.00 $5,000.00 $15,000.00 $16,000.00 $2,000.00 $2,000.00 $4,000.00 $5,000.00 $5,000.00 $6,000.00 $32,700.00 $37,000.00 $1,000.00 $2,000.00 $5,000.00 $7,500.00 $6,000.00 $7,500.00 $10,000.00 $15,000.00 $1,000.00 $1,500.00 Utilities $500.00 $500.00 $0.00 $0.00 $23,500.00 $34,000.00 Bank Fees $500.00 $500.00 $2,000.00 $2,000.00 $5,500.00 $6,500.00 $650.00 $650.00 $2,500.00 $2,500.00 $600.00 $800.00 $1,250.00 $1,500.00 $1,500.00 $2,000.00 $450.00 $500.00 $2,000.00 $2,000.00 $4,800.00 $6,000.00 $1,500.00 $1,500.00 $2,500.00 $3,000.00 Personnel Expenses Executive Director Salary Employee Benefits - Health Insurance Payroll Expenses Subtotal Personnel Contractor & Professional Fees Expenses Contracted Services and Professional Fees - CPA - Accountant Contracted Services and Professional Fees - CPA - Bookkeeping Contracted Services and Professional Fees - CPA - Audit Production Bonus @ $2.5K/house Administrative Employee @ 20hrs/wk = $20000 Program Manager @ 20hrs/wk = $25000 (FULL time 50k) Project Management Fee (offset with Grant Funds) Development Director - 75K/yr In House Credit Counselor - 60K/yr (part time year 2) Subtotal Property - Current Marketing/Advertising Debt Service (NOW HANDLED BELOW IN FUTURE) Insurance Rental Maintenance Fund Pest Control Other (DEPRECIATION) Contracted Services and Professional Fees - Graphic Design Contracted Services and Professional Fees - Legal Contracted Services and Professional Fees - Training Subtotal Contractor Property Expenses - Current Meeting Expenses Membership Dues and Subscriptions Office Supplies Post Office Box/Postage Printing & Publications Rent/Parking/Electricity Operating Expenses Equipment/Furniture - Capital Outlay Insurance & Bonds ($1021 Gen Liab., $386 Work Comp, $265 Dishon Internet Marketing/Advertising Telephone/Fax Line Travel and Mileage CAPE FEAR COMMUNITY LAND TRUST, INC. BUDGETED EXPENSES - FY 2024/25 $800.00 $1,000.00 $1,000.00 $1,500.00 $27,550.00 $31,950.00 $0.00 $0.00 $0.00 $7,000.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1,000.00 Covered in GL Covered in GL $0.00 $8,000.00 $5,000.00 $5,000.00 $20,000.00 $24,000.00 $25,000.00 $29,000.00 $292,750.00 $401,925.00 FY24/25 FY25/26 $10,000.00 $10,000.00 Rental Income - Other (FEES) $150.00 $150.00 $4,450.00 $5,050.00 $14,600.00 $15,200.00 $0.00 $0.00 $0.00 $0.00 $22,871.00 $50,000.00 $2,000.00 $2,500.00 $24,000.00 $40,000.00 $0.00 $30,000.00 $125,000.00 $75,000.00 $30,000.00 $25,000.00 $0.00 $25,000.00 $0.00 $13,000.00 $6,000.00 $12,000.00 $6,000.00 $12,500.00 $20,000.00 $24,000.00 $0.00 $0.00 Fundraising Expenses Fundraising Expenses - Supplies Fundraising Expenses - Wilmington Daddy Daughter Dance Fundraising Expenses - Grant Writer Fundraising Expenses - Event Space Rental Fundraising Expenses - Equipment Rental Website Miscellaneous Subtotal Operating Depreciation In-Kind Professional Services (Arch, Eng, Leg, R/E, Acct) Other Subtotal Other TOTAL EXPENSES Fundraising Expenses - Refreshments/Meals Fundraising Expenses - Marketing/PR Fundraising Expenses - Event Insurance Subtotal Fundraising Other Expenses FUNDING FOR CREDIT COUNSELING (NCHFA) New Hanover County Endowment Funding - CAPACITY Funding Revenue City of Wilmington - CDBG Project Management Grant Property Revenue - Current Rental Income Land Lease Income Subtotal Property - Current CAPE FEAR COMMUNITY LAND TRUST, INC. BUDGETED REVENUES - FY 2024/25 In-Kind Professional Services (Arch, Eng, Leg, R/E, Acct) Investment Interest (TAX REFUND) Revenue from Foundations - Z Smith Reynolds REVENUE FROM HOME SALE Wilmington Daddy Daughter Dance Donations - Corporate & Individual Board Inititated Capital Campaign Unsecured Funding New Hanover County Funding Bank Interest CAPE FEAR COLLECTIVE PARTNERSHIP $235,871.00 $309,000.00 $250,471.00 $324,200.00 Projected Operating Surplus Before Property ($42,279.00) ($77,725.00) FY24/25 FY25/26 $300,000.00 $300,000.00 $300,000.00 $300,000.00 $60,000.00 $60,000.00 $20,000.00 $20,000.00 $20,000.00 $20,000.00 $700,000.00 $700,000.00 $700,000.00 $700,000.00 $300,000.00 $0.00 $350,000.00 $0.00 $60,000.00 $90,000.00 $0.00 $600,000.00 $45,000.00 $90,000.00 $0.00 $12,721.00 $755,000.00 $792,721.00 $755,000.00 $792,721.00 $55,000.00 $92,721.00 ($42,279.00) ($77,725.00) $12,721.00 $14,996.00 $992,750.00 $1,101,925.00 $1,005,471.00 $1,116,921.00 Acquisition Expenses Repairs and Maintenance Property Purchases - NHC REVOLVING FUND Property Purchases - NHC Endowment REVOLVING FUND Other Property Related Costs Property Related Expenses Subtotal Funding Revenues TOTAL REVENUE CAPE FEAR COMMUNITY LAND TRUST, INC. PROPERTY DEVELOPMENT RELATED Property Related Revenue New Hanover County Funding - REVOLVING FUND New Hanover County Endowment - REVOLVING FUND CAPE FEAR COLLECTIVE PARTNERSHIP Subtotal Property Expenses TOTAL PROPERTY EXPENSES TOTAL EXPENSES FROM ALL SOURCES (incl. property) TOTAL REVENUES FROM ALL SOURCES (incl. property) REVENUE FROM HOME SALES Rollover Revenues from Previous Year Subtotal Property Revenues TOTAL PROPERTY REVENUE NET GAIN/LOSS FROM PROPERTY DEVELOPMENT Developer Fee - City of Wilmington Projects Projected Operating Surplus After Property Projected Operating Surplus Before Property (FROM ABOVE)