This is where the public portions of the business plan for the FIC Art of Community Event will be documented. It will not include some of the financial specifics, which will be kept proprietary to a group of Key Event Stakeholders.
Event Income Sources
- Participants - people who pay to come and participate in the event
- Co-Sponsors - Community Networks and other major contriboturs
- Event Supporters - Community organizations and individuals
- Auction Sales - goods and services being auctioned come from community organizations, individuals, and businesses
- Community Store - FIC Community Bookshelf plus commissioned product/services(?) from Event Supporters
Major Event Expenses
- Facility rental
- Professional Services (if event supports this)
- Transportation for staff (if event supports this)
The event is intended to operate with a strong, positive cash flow, with profits benefiting the FIC - the presenting organization. Currently, the thought is that FIC will not put any money into the event, and all major, up-front costs will be provided by cosponsors.
FIC makes significant money, with minimal, if any risk NICA has the $5,000 being loaned to the event returned Some core staff is paid based on event performance Event is accessible, scholarships available, but may require some volunteering
Paying for Labor
Labor for the event will use what can be thought of as a cohousing model, rather than a traditional intentional community model. That is, a blend of professional and volunteer services will be utilized to help ensure a successful event of a large scale.
Specifically, some professional services will be paid for using straight pay for time and some income will be performance-based and not paid for until the final event settlement. This how many professional events, like for-profit concerts, are run and is consistent with some of Craig Ragland]]'s experience at the Paramount Theatre. The Paramount is operated by a non-profit that hosts many for-profit events, including ones with non-profit beneficiaries and sponsors.
We will build out a fairly sophisticated financial model that allows some event staff to share risk and reward - those who take more risk (mostly in the form of hours invested) will receive higher rewards should their contributions to the event support such payments. Current thinking is that the magnitude of such payments will be based on a blend of simple hours worked and performance.
Another idea for straight, hourly pay is that the earlier in the project lifecycle that time is paid for, the lower will be the hourly rate. This will help preserve our limited capital at the beginning of the event's planning. Those that defer hourly payments to the end of the project would increase the potential compensation for the same amount of work, but they would also share the risk, and might end up not being paid at all or at a higher rate if the event does not successfully meet performance requirements.
Some professionals may be paid for their services starting in Feb/Mar, or they can defer payment
On-site event work will be largely volunteer.