Ace Makerspace
2020-2021 Budget
Table of Contents
The Budget Committee
Thanks to the members of the budget committee for their time and effort in helping move Ace Makerspace forward!
Members
Priorities
Safer Access
The core priority for next year is making the space safer for members.
Repurposed Space
Renovations in Suite 206 will take place to repurpose into crafting-industrial space while retaining usability for coworking and education.
Future Considerations
Ace has significant loans and must ensure its ability to pay debt obligations after this year.
Future considerations
Repurposed space
Safer access
Membership Forecast
Expenses - Program
Program | | FY2021 | FY2020 | Percent Change | Total Change |
Woodshop | | $1,000 | $7,207 | -86% | -$6,207 |
Electronics | | $100 | $131 | -24% | -$31 |
Coworking | | $1,100 | $1,751 | -37% | -$651 |
CNC Router | | $100 | $974 | -90% | -$874 |
Metal Working | | $100 | $149 | -33% | -$49 |
3D Printing | | $100 | $30 | 233% | $70 |
Laser Cutter | | $800 | $882 | -9% | -$82 |
Classroom | | $0 | $20 | -100% | -$20 |
Textile | | $350 | $343 | 2% | $7 |
Community Benefit | | $2,400 | $1,318 | 82% | $1,082 |
Total Programs | | $6,050 | $12,803 | -53% | -$6,753 |
Expenses - General & Administrative
General and Administrative | | Budgeted | FY20 | Percent Change | Change |
Marketing and Culture | | $4,830 | $5,819 | -17% | -988.60 |
Bank Charges | | $3,401 | $4,773 | -29% | -1,372.32 |
Member Services | | $20,793 | $11,900 | 75% | 8,893.42 |
Computers and Software | | $9,680 | $2,171 | 346% | 7,509.14 |
Insurance | | $2,800 | $3,278 | -15% | -477.50 |
Occupancy | | $72,780 | $72,780 | 0% | 0.00 |
Office Expense | | $4,753 | $2,996 | 59% | 1,756.96 |
Equipment | | $4,650 | $1,425 | 226% | 3,225.38 |
Payroll Expenses | | $44,501 | $38,772 | 15% | 5,729.74 |
Professional Fees | | $4,940 | $6,772 | -27% | -1,832.34 |
License Fees | | $300 | $233 | 29% | 67.00 |
Taxes | | $0 | -$18 | -100% | 18.00 |
Bad Debt | | $200 | $0 | n/a | 200.00 |
Interest Paid | | $250 | $0 | n/a | 250.00 |
Total General and Administrative | | $173,878 | $150,900 | 15% | $22,979 |
Fixed Assets and Other Cash Adjustments
Fixed Assets (negative values decrease cash) | | FY2021 | FY2020 | Percent Change | Total Change |
Depreciation | | $6,000 | $311 | 1830% | $5,689 |
Furniture and Fixtures | | $0 | -$10,360 | -100% | $10,360 |
Total Fixed Assets | | $6,000 | -$10,049 | -160% | $16,049 |
| | | | | |
Other Cash Flow Adjustments (negative values decrease cash) | | | | | |
Leasehold Improvements | | -$12,000 | $0 | n/a | -$12,000 |
PPP Loan Repayment | | -$3,000 | $0 | n/a | -$3,000 |
Loans | | $0 | $97,412 | n/a | -$97,412 |
Other adjustments | | $0 | $12,022 | n/a | -$12,022 |
Total Other Cash Flow Adjustments | | -$15,000 | $109,434 | -114% | -$124,434 |
June 2021: $77k cash on hand (153 Days of Cash)
Net Income
Revenue minus expenses minus depreciation (non-cash)
New Assets
Improvements that will be depreciated
Depreciation
Counteracts the non-cash depreciation expense in net income
Loan Payments
Represents amount of PPP loan to be repaid