Business Model
Historic Weston, Inc, guided by its Board of Advisors, plans to acquire, renovate and manage active use of the campus encompassing the Old Library and the Josiah Smith Tavern. Such an endeavor requires short and long-term funding. The organization anticipates funding to come from these general areas:
Members:
Additional donor levels:
pledge just $300 per year for three years would provide $90,000 annually. In addition to funds, this will engender sincere community
support.
Detailed budgets for use of funds will also be developed by the Board of Advisors. Tasks will be addressed in phases, the most immediate will include acquiring the historic asset from the Town in a mutually beneficial transaction, solidifying existing tenants to long-term lease arrangements, implementing repairs to structural issues in The Barn that are currently limiting the number of attendees at a function, renovating the envelope of the Old Library to prevent further deterioration, developing plans for full use of the buildings and surrounding land. Early financial projections may be:
- Corporate and Foundation grants
- Weston Community Preservation Account
- Donations/Bequests
- Fundraising Event(s)
- Membership
- Tenant Rents
Members:
- Individual $25.00/year
- Family $100.00/year
- Corporate $500.00/year
Additional donor levels:
- Founders Circle $300/year for 3 years
pledge just $300 per year for three years would provide $90,000 annually. In addition to funds, this will engender sincere community
support.
- Founders Circle Elite $3,000
- Silver Ring $5,000
- Gold Ring $10,000
- Platinum Ring $20,000
- Diamond Cluster $25,000
- Naming Rights $100,000 and above
Detailed budgets for use of funds will also be developed by the Board of Advisors. Tasks will be addressed in phases, the most immediate will include acquiring the historic asset from the Town in a mutually beneficial transaction, solidifying existing tenants to long-term lease arrangements, implementing repairs to structural issues in The Barn that are currently limiting the number of attendees at a function, renovating the envelope of the Old Library to prevent further deterioration, developing plans for full use of the buildings and surrounding land. Early financial projections may be:
- $50,000 Formation and set-up of Historic Weston, Inc
- $760,000 Acquisition; immediate repair Old Library(CPA pre-approved)
- $3-5,000,000 Capital Campaign for restoration and active re-use of property
- $3,000,000 Endowment ($290,000 Josiah Smith Tavern Fund bequeathed by Jones sisters)