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Pro-forma operating budget

q JOM

A live, Excel-based model that starts with activity estimates.
The year before the theatre opens, plus five years of operations.

Fully-developed staff and infrastructure to support programming
estimates — from the outset.

Webb Management Services Inc.

Reference Points: Facility Characteristics

Owner
Operator
Theater Capacity

Other Public Spaces

Payroll Expenses

Payroll Expenses (as % of Operating Expenses)
Staff

Board Members

Executive Director Base Salary

Year of Budget

Rental Income

Total Earned Income
Contributed Income from Public Sources
Contributed Income from Private Sources (Foundation,
Corporate, Individuals, Events)

Total Contributed Income

Total Operating Expenses

Operating Surplus (Deficit)

Earned Income (as % of Operating Expenses)

Colonial Theatre

(Keene, NH)

Nonprofit
Nonprofit

888

Colonial Corner (60)

$530,369
32%
35
12
$81,351

2015
$44,850
$807,374

N/A

N/A

$487,424
$1,638,254
($231,677)
49%

Spruce Peak
Performing Arts
Center (Stowe, VT)
Nonprofit
Nonprofit

420

Various event spaces
within Stowe
Mountain Resort

$462,114
31%
19
6

2013
$55,115
$243,205
$0

$243,205

$312,451
$1,484,948
($929,081)
16%

Ridgefield Playhouse
(Ridgefield, CT)

Nonprofit
Nonprofit

500

Party room (100)

$581,689
13%
122
15

2014
$44,173
$3,975,758
$50,795

$670,003

$720,798
$4,621,049
$365,731
86%

Historic Town Hall
Theatre (Woodstock,
VT)

Town
Nonprofit

400

Meeting room(s)

$175,536
27%
24
13
$47,000

2015
$9,709
$262,356
$71,100

$243,768

$314,868

$647,872

($49,095)
40%

=
(D .

Pro-forma operating budget

building creativity

Pro-forma Activity Summary

Year 1 Year 2 Year 3 Year 4 Year 5
Main Theater Performances 76 76 81 B4 88
Use Days 172 174 181 187 194
Multipurpose Room Use Days 90 93 95 90 93
Estimated Performance Attendance 25,150 24,400 26,255 27,650 29,340
Estimated Base Rent Collected Resident Users 4% 30,750 $ 30,753 $ 32,812 $ 33,561 $ 35,774
Other nonprofits 37,500 $§ 32,283 $ 34,957 $ 37,248 $ 40,104
Commercial user $ 47,250 § 451,179 $ 55,245 $§ 468,738 $ 63,079
Total $ 109,500 § 114,215 § 123,014 § 129,547 $ 138,957

Webb Management Services Inc.

Page 37

Oo me
incoremerated
Cc Acorporated

Pro-forma
operating
budget

Pro-forma Budget Summary Pre-Opening

Earned Income
Ticket Sales

Rental Income
Thealer User Fees
Food Service
Miscellaneous Income

Contributed Income
Individual Contributions
Corporate Contributions
Foundation Grants
Government (non-local)
Endowment Income

73 3 4%

Total Income

Operating Expenses
Total Personnel
Programming Costs
Fundraising

Box Office
Administration
Occupancy Costs

Total Operating Expenses
Result of Operations
Allocation from Capital Budget
Allocation to Capital Reserve

Final Result

Eamed Income/Op Expenses

oc Oo

0
160,000
160,000

160,000

785,250
0
10,000
0
23,500
0

218,750
58,750
75,000
0
16,250

O

Year 1

117,000
191,250
226,500

46,650
120,600
695,000

25,000
25,000
25,000
25,000
760,000
260,000

955,000

474235
119,250
20,000
51,295
49,500
210,000

924,280
30,720
0

0
30,720

15%

Year 2

105,570
199,308
239,170

37,842
119,772
701,651

25,500
29,900
26,500
25,500
160,000
262,000

963,651

491,597
110,544
21,000
50,454
51,975
214,200

939,570
24,084
0

0
24,081

75%

Year 3

114,496
211,552
253,863

42,360
130,512
752,783

26,010
26,070
26,010
26,010
160,000
264,040

1,016,623

573,429
117,690
22,050
34,762
O45 74
218,484

980,989
35,834
0

0
35,834

77%

Year 4

129,467
221,076
265,291

50,036
140,508
806,378

26,530
26,530
26,530
26,590
160,000
266,121

1,072,499

30,787
137,590
23,153
58, 967
57,302
222 654

1,029,072
43,427

0

25,000
18,427

TOM

Year 5

136,874
234,130
280,956

54,538
a1 348
857,846

27,061
27,061
27,061
27,061
160,000
268,243

1,126,090

558,669
137,255
24,310
63,765
50,168
227,311

1,071,676
54,414

0

50,000
4,414

BO%

Webb Management Services Inc.

Page 38

q ( } oM

Economic impact analysis

Calculates the economic impacts of building and operating new
facilities in Nashua.

Informed by RIMS Type II multipliers purchased from the Federal
Bureau of Labor for Hillsborough County.

Direct, indirect, and induced impacts based on construction,
operations, and audiences.

Year three of operations for new facilities.

Webb Management Services Inc. Page 39

building creativity

Input - Construction Budget $ 12,000,000
Final Demand Multipliers ae

Outputs (industry 2332CO) Project Outputs

Sales 1.6609 $ 19,930,800

Earnings 0.4942 $ 5,930,400

Employment (person-years of 9.3501 112

employment)

Webb Management Services Inc. Page 40

building creativity

Economic impacts - quantitative

Annual Operating Impacts on Hillborough County

Bill of Goods Approach (Year 3)

: Inputs Multipliers Gutputs
Category ay trans Ne % Spent calle borough Hilary seatey Output (dollars) pack Empl't (jobs) Seen Eamings New Empl't (jobs)

“Power Generation and Supply 4 70,000 7am $ 52,500 1.3076 O.1771 2.7605 $ 91832 & 12,397 o.2
Water, Sewage and other System $ 10,000 BI $ 5,000 1.4491 2471 5.0512 = 14,497 3 2,471 0.1
Retail Trade 5 10,000 Toh s 7,500 1.6216. O.9829 17.2031 s V216 § 3,829 1
Transit & Passenger Transportation | 5,000 75% = 3,750 1.7387 0.5765 17.4619 = 6694 ¢ 2,628 ou
Talscommunications s 20,000 75%. g 75,000 1.6276 0.4569 5 5556 = S2552 $ 5,138 D4
"[nguranca Agencies/Brokerage $ 60,000 50% 5 20,000 1.9672 0.4342 6.0480 & 116,092 § 26,052 O58
" Eduipment Rental 8 75,000 50% & 12,500 1.4387 0.2709 4.2671 £ 35968 $ 6,758 o
Legal Services 5 10,000 75% § 7500 1.6068 Oa71y 6.6561 $ 16068 8 471? o.1
Accounting. & Bookhesping Services | 5 25,000 Th s 18750 1.5486 4710 10.5265 s S718 8S 11,775 0.4
‘Computer related services $ 25,000 50% $ 12,500 1.6360 0.4924 9.9939 $ 40,900 § 12,310 Oe
‘Adtvertising & related senices $ 0,000 50% $ 25,000 1.5785 0.97106 TBTSS S 7e990 & 15,530 fa
Professional & Technical Services $ 70,000 50% $ 5,000 e217 0.4756 ARG $ Wel? §& 4,156 0.1
‘Office administrative services 5 20,000 Ta 3 16,000 1.6552 0.6079 .o704 a 3304 § 12,058 az
"Business support services $ 16,000 a0 $ 7000 1.7086 0.4927 13.2562 = 2o629 S$ 7391 2
“Services to building 5 15,000 75% s 11,250 1.5653 0.37465: 73.0903 § 27480 § 5,618 2
Waste Managermenye $ 10,000 100% & 10,000 1.5719 0.3043 6.2824 = 15719 & 43,043 1
‘Other Educational Senices 5 15,000 75% 8 11,250 L7992 0.6509 1B.B192 $ 76988 8 8,264 03
Performing arts companies 4 25,000 S056 $ 72,500 1.6305 0.3663 T7662 $ 40763 3 9,658 4
Promoters of performing arts s 25,000 25% = 6,250 1.7006 0.9491 15.0659 = 42515 S$ 8,728 0.4
“Accommodation 5 5,000 100% 5 5,000 1.5589 0.9542 11.2025 $ wos 6S OT 1
Food servicas § 10,000: 75% $ A500 1.6308 0.2822 10,9680 & T6208 £ 2.827 o1
‘Postal Service 5 15,000 100% $ 75,000 1.5243 0.4781 8.51279 $ 22865 § Fiz 0.1
Averages and Totals [oer nnnnEve nen] a Uhits F aaer7 F 40.7825 e Talore | e Tit | ay

Webb Management Services Inc. Page 41

building creativity

Economic impacts - quantitative

qq OM

Estimating Audiences

Year 3 Paid Theater Attendance 26,000
Hillborough County Attenders 70% 18,200
Recovered County Attenders 20% 5,200
Non-County Attenders 30% 7,800

Ancillary Spending Impacts of the Center Theatre on Hillborough County

Per Capita Expenditure Tatal Direct (induead) Output Multiplier Tatal New Outputs Earnings Total Naw Job Creation Total Naw

Ancillary Spending Impacts Estimate Expenditures (Sales) Multiplier Earnings: Multiplier dobs

1. Rocovered Hillborough County Attendars

Food Services 3 Vile & 56,032 1.6308 $ 94,699 0,2822 s 16,377 10.5680 6.6
Retail Trade $ eS Wrs2 1.6216 $ 28,754 0.3829 $ 6,790 12.2031 0.2
Transportation & 7.64 & 8.476 Vitae) $ 14,737 0.9255. $ 4.454 174619 0.1
Accommodation $ O29 «6& 1,508 1.5589 $ 2,351 0.3542 $ 544 11.2025 0.0
Miscellaneous 3 092 & 4,784 1.6174 $ 7737 O.3977 $ 1,903 WO.2825 0.0
Sub-total $ 90,532 $ 148,278 $ 30,057 11
2. Non Hillsborough County Attenders
Food Services $ Tras) = 135,642 1.63908 re 221,205 0.2822 $ 38,278 10.9680 1.6
Retail Trade 5 540 § 42170 1.6216 Fs 68,302 0,9825 $ 16,128 12,2031 0.5
Transportation & 463 § 37,674 17387 Fs 65,504 0.5255 $ 19,798 17.4619 0.7
Accommodatian $ Mo35° § 81,042 1.6589 rs 126,336 3542 $ 26,705 11.2025 0.9
Miscellaneous $ 195 § 15,270 1.6174 Fe 24,600) 0.3977 § 6,050 10.2825 0.2
Sub-total = 311,688 $ 505,947 g 108,958 a7
Total impact of Ancillary Spending Total (1+2)

* Based on Americans for the Arts Prosperity Index ¥ (7012)

Webb Management Services Inc. Page 42

building creativity

Economic impacts - quantitative

qq OM

Summary of Economic Impacts on Hillsborough County

Construction Impacts Input (Local Expenditures $12,000,000
Output (Sales) $19,930,800

Earnings $5,930,400

Jobs Created (person-years) 112

Ongoing Annual Impacts Input (Year 3 Spending) $460,000
Operations Output (Sales) $740,674
Earnings $171,111

Jobs Created (annual) dy
Audience Spending Input (Year 3 Spending) $402,220
Output (Sales) $654,165

Earnings $139,015

Jobs Created (annual) 5

‘Total Annual Operating Impacts Output (Sales) $1,394,839
Earnings $310,126

Jobs Created (annual) g

Webb Management Services Inc. Page 43

qq OM

Webb Management Services Inc.

building creativity

Economic impacts - qualitative

A catalytic project for the redevelopment
of downtown Nashua.

Attracting companies, workers, and
residents to downtown Nashua.

A key attraction within a district for tourism
development.

LA A A
- = nd

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