Colorado State Fair in Pueblo (Denver, Colorado Springs: activities, land, medical center)

[eatsDEN]

The approach will be different depending on the magnitude of the situation being addressed,
are we trying to close an annual $3.3M deficit or $500k?

[Josseppie]

Originally Posted by eatsDEN

The approach will be different depending on the magnitude of the situation being addressed,
are we trying to close an annual $3.3M deficit or $500k?

First I was looking at the cash flow as I think that should be address first. But I would be willing to take suggestions on how to handle the deprecation.

[eatsDEN]

you don't really 'handle' depreciation -- you budget and plan for facilities and plant as part of normal, day to day operations

did you read the case study I gave a link for? it discusses things like this, and how to really become sustainable;
the thinking of the administrators needs to change from being preoccupied with event planning and attractions to the detriment of the mundane.

[Josseppie]

Then what is your ideas?

[eatsDEN]

any new plan of direction needs to consider not only attractions and events, but also how to fund critical infrastructure investment.

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Nonprofits that own or operate historic facilities often struggle to cover the high costs of

maintenance and repair of these properties, and many do not adequately “fund” depreciation.

While in the short-run it can be tempting to defer maintenance and investing in renovations,

organizations eventually find that these decisions negatively impact their ability to provide high

caliber, on-site programs. While running a periodic capital campaign is one strategy, articulating

the case for repair to funders can be difficult and campaigns can exhaust staff and volunteers.



The Boston Center for the Arts (BCA) is a prime example of an organization facing such

challenges. Starting in 2005, Nonprofit Finance Fund (NFF) engaged with the BCA at a time

when it was energized by a fresh vision that included a commitment to new programs and

ventures. This new plan did not, however, clearly express how the BCA would care for its

170,000 square feet of property. NFF completed a financial analysis of the BCA and helped

leadership quantify its facility needs, identifying nearly $3 million in deferred maintenance

and program-critical renovation. This case study tells the story of how the BCA developed a

new financial model and operations plan to secure its future.
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[Josseppie]

Fine so what is your plan of action?

[wong21fr]

Originally Posted by Josseppie

Fine so what is your plan of action?

The Fair can't get out of it's hole w/o significant amount of outside funding. Either a) the State has to subsidize it more (fat chance w/o other commitments), b) Pueblo has to provide more funding, or c) the Fair increases revenues while keeping costs the same.

It comes back to Pueblo putting up more cash. That's the starting point and the only way the Fair stays in Pueblo and survives long-term.

[eatsDEN]

I'm not familiar with the specifics of the situation, therefore feel uncomfortable 'spouting off' specific ideas to address problems I don't have a specific understanding of...

at a high level, the folks running the program need to recognize the full cost of operations for what it is - then a listing of accomplishments can be drawn up to see where the successes are... then come up with a listing of challenges and opportunities... think some more and determine where the most lucrative opportunities are - that maintain the mission of the program...

hopefully the folks involved in this process are honest with themselves and the other folks hashing this out - otherwise it doesn't work well...


did you read the case study? lots of good ideas in it.

[Josseppie]

Originally Posted by eatsDEN

I'm not familiar with the specifics of the situation, therefore feel uncomfortable 'spouting off' specific ideas to address problems I don't have a specific understanding of...

at a high level, the folks running the program need to recognize the full cost of operations for what it is - then a listing of accomplishments can be drawn up to see where the successes are... then come up with a listing of challenges and opportunities... think some more and determine where the most lucrative opportunities are - that maintain the mission of the program...

hopefully the folks involved in this process are honest with themselves and the other folks hashing this out - otherwise it doesn't work well...


did you read the case study? lots of good ideas in it.

I read it and I guess we will have to wait and see what the new manager comes up with. Now how about cash loss issue on the offseason? My idea of a spring gala could help a lot.

[wong21fr]

Originally Posted by Josseppie

I read it and I guess we will have to wait and see what the new manager comes up with. Now how about cash loss issue on the offseason? My idea of a spring gala could help a lot.

That sounds like a State Fair Foundation endeavor. Is it realistic to get a 1,000 people in Pueblo to put up $200 a plate year over year? $200K/yr would shrink the cash loss by a bit.