Rising Tides Capital Campaign - Financial Feasibility "Expansion Space" - Mosaic Event Center Investment = $6,000,000 Year 1 Year 2 Year 3 Year 4 Year 5 Total events 22,500 22,500 25,000 25,000 25,000 120,000 Incremental Attendance 22,500 22,500 25,000 25,000 25,000 120,000 Incremental Revenues: Catered Events Admissions $292,500 $292,500 $325,000 $325,000 $325,000 $1,560,000 Food & Beverage $742,500 $742,500 $825,000 $825,000 $825,000 $3,960,000 $1,035,000 $1,035,000 $1,150,000 $1,150,000 $1,150,000 $5,520,000 Incremental Operating Expenses: Salaries & Benefits $139,000 $142,475 $146,037 $149,688 $153,430 $730,630 Event Pay $36,000 $36,900 $37,823 $38,768 $39,737 $189,228 Utilities $37,500 $38,625 $39,784 $40,977 $42,207 $199,093 Business Promo $6,750 $6,953 $7,161 $7,376 $7,597 $35,837 F&B - to Aramark $556,875 $556,875 $618,750 $618,750 $618,750 $2,970,000 $776,125 $781,828 $849,554 $855,559 $861,721 $4,124,787 Incremental Net Income $258,875 $253,173 $300,446 $294,441 $288,279 $1,395,213 5 year annualized ROI = 5% Assumptions: This space provides the Aquarium will add'l capacity for our profitable evening events that are currently maxed out. We know there is demand that we could fill, if the space were available. This expansion creates a 7,000 square foot event center + support space (green rooms, kitchen, pre-function) on the 3rd floor of the Aquarium, providing for outstanding views. This expansion provides a revenue stream that is much longer than 5 years - in fact it can go out as many years as the Aquarium exists, since this is new, permanent expansion space For events, currently the Aquarium is unable to host events with sit-down dinners and speaker presentations that exceed 300 guests. Even this is awkward and views are obstructed and acoustics are bad. With the expansion, the Aquarium will be able to comfortably host sit-down dinners for 500. Biggest incremental operating cost will be utilities - 15,000 add'l square feet of air-conditioned space ($37.5k/yr). Will also need 2 event coordinators; 1 sales manager; add'l operating expenses (travel, supplies) The F&B % of catered sales to the Aquarium will be 25% 25-35 add'l 300-500 people events/per year (roughly 2 per month). Also allows for breakfast and luncheon events; multiple events at same time; cocktail hours - add'l attendance of 10,000 from smaller groups $13 event admission per cap $33 Food and Beverage per cap
Rising Tides Capital Campaign - Financial Feasibility "Expansion Space" - Mosaic Event Center Investment = $4,800,000 Year 1 Year 2 Year 3 events 17,500 17,500 17,500 Incremental Attendance 17,500 17,500 17,500 Incremental Revenues: Catered Events Admissions $250,250 $250,250 $250,250 Food & Beverage $577,500 $577,500 $577,500 $827,750 $827,750 $827,750 Incremental Operating Expenses: Salaries & Benefits $40,000 $41,000 $42,025 Event Pay $15,000 $15,375 $15,759 Utilities $30,000 $30,900 $31,827 Business Promo $6,750 $6,953 $7,161 F&B - to Aramark $433,125 $433,125 $433,125 $524,875 $527,353 $529,897 Incremental Net Income $302,875 $300,398 $297,853 Assumptions: This space provides the Aquarium will add'l capacity for our profitable evening events that are currently maxed out. We know there is demand that we could fill, if the space were available. This expansion creates a 7,000 square foot event center + support space (green rooms, kitchen, pre-func of the Aquarium, providing for outstanding views. This expansion provides a revenue stream that is much longer than 5 years - in fact it can go out as many years as the Aquarium exists, since this is new, permanent expansion space For events, currently the Aquarium is unable to host events with sit-down dinners and speaker presenta exceed 300 guests. Even this is awkward and views are obstructed and acoustics are bad. With the exp the Aquarium will be able to comfortably host sit-down dinners for 500. Biggest incremental operating cost will be utilities - 15,000 add'l square feet of air-conditioned space ($ Will also need 2 event coordinators; 1 sales manager; add'l operating expenses (travel, supplies)
The F&B % of catered sales to the Aquarium will be 25% 25-35 add'l 300-500 people events/per year (roughly 2 per month). Also allows for breakfast and lunch multiple events at same time; cocktail hours - add'l attendance of 10,000 from smaller groups $13 event admission per cap $33 Food and Beverage per cap
Year 4 Year 5 Total 15000 sq ft contingency 17,500 17,500 87,500 17,500 17,500 87,500 vert. circ A&E $250,250 $250,250 $1,251,250 $577,500 $577,500 $2,887,500 $827,750 $827,750 $4,138,750 misc kitchen improve $43,076 $44,153 $210,253 $16,153 $16,557 $78,845 $32,782 $33,765 $159,274 $7,376 $7,597 $35,837 $433,125 $433,125 $2,165,625 $532,512 $535,197 $2,649,834 $295,238 $292,553 $1,488,916 5 year annualized ROI = 6.2% ction) on the 3rd floor ations that pansion, $37.5k/yr).
heon events;
4500000 450000 4950000 0 4950000 247500 5197500 202500 600000 6000000 4800000
Rising Tides Capital Campaign - Financial Feasibility Expansion Space - Mosaic Event Center Investment = $6,000,000 Year 1 Year 2 Year 3 Year 4 events 16,875 17,213 17,557 17,908 Incremental Attendance 16,875 17,213 17,557 17,908 Incremental Revenues: Catered Events Admissions $219,375 $228,244 $232,806 $237,460 Food & Beverage $556,875 $579,390 $590,969 $602,783 Fundraising Events $86,000 $87,720 $89,474 $91,264 $862,250 $895,354 $913,249 $931,507 Incremental Operating Expenses: Salaries & Benefits $126,563 $129,727 $132,970 $136,295 Event Pay $27,000 $27,675 $28,367 $29,076 Utilities $28,125 $28,969 $29,838 $30,733 Business Promo $6,750 $6,953 $7,161 $7,376 F&B - to Aramark $417,656 $434,542 $443,226 $452,087 $606,094 $627,866 $641,562 $655,567 Incremental Net Income $256,156 $267,488 $271,686 $275,940 Assumptions: This space provides the Aquarium will add'l capacity for our profitable evening events that are currently maxed out. We know there is demand that we could fill, if the space were available. 5 year annu Fundraising Events will grow 20% - more capacity; ability to sell Corporate Sponsorship Tables. This expansion provides a revenue stream that is much longer than 5 years - in fact it can go out as many years as the Aquarium exists, since this is new, permanent expansion space For events, currently the Aquarium is unable to host events with sit-down dinners and speaker presentations that exceed 150 guests. Even this is awkward and views are obstructed and acoustics are bad. With the expansion, the Aquarium will be able to comfortably host sit down dinners for 400 people Biggest incremental operating cost will be utilities - 10,000 add'l square feet of air-conditioned space Will also need 2 event coordinators; 1 sales manager; add'l operating expenses (travel, supplies)
40 new events (Breakfast, Lunch, and Evening) of 300 guests per year; Additional attendance of 6,850 from other Will be able to have two concurrent dinner events inside the event center at the same time, in addition to other e in the Coral Reef, Vinik Channelside Rooms, and the Bay Spirit II. $13 event admission per cap $33 Food and Beverage per cap
Year 5 Total 18,266 87,819 18,266 87,819 $242,207 $1,160,092 $614,834 $2,944,850 $93,089 $447,547 $950,130 $4,552,490 $139,702 $665,257 $29,803 $141,921 $31,655 $149,319 $7,597 $35,837 $461,125 $2,208,638 $669,882 $3,200,971 $280,248 $1,351,519 ualized ROI = 5% t
r groups. events