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RCC

Pro Forma
Fund Usage

Sources & Uses


Amount

Long Term Capitalization


Leasehold Improvements
Equipment
Inventory
Prof Fees for design/inventory
Construction Management fee
Total Long Term

$350,000
$650,000
$236,250
$148,350
$30,000
$1,414,600

Short Term Capitalization


Start-up staffing
Start-up promotion
Interest paid pre-opening (owner loans)
Post-opening professional support
Operating cost prior to opening
Operatiing Capital (Cash)
Total Short Term

$69,806
$18,379
$3,000
$30,000
$15,000
$220,549
$356,734

Overrun allowance

$265,700

Total Capital Needed


EQUITY
TOTAL TO BE BORROWED

Assumptions from other sheets


Building Space Square Footage
First year sales

Assumptions
Leasehold Improvements
Sales Floor square footage
Equipment psf
Inventory psf
Professional fees
Construction management fee
Pre-opening staffing - full cohort
Pre-opening staffing - general manager
Start Up Promotion
Start up Capital
Interest rate on Owner loans
% borrowed before opening
Months capital borrowed before opening
Operating capital
Other costs in lead up to construction
Overrun estimate
Membership Fee
Number of members
Number of indiv loans
Avg size of indiv loan

Renaissance Coop Committee

$2,037,034
$537,034
$1,500,000

$10,000
$3,675,824

Revision: May 23, 2013


Fund Sources

Equity
Memberships
Grassroots Fundraising
Grants from local & regional foundations
City of GSO Econ Dev't Grant
Federal grants (USDA, SBA, Block grants)
Total Equity

$100,000
$17,034
$120,000
$100,000
$200,000
$537,034

Subordinated debt - Owner Loans


5 Year Owner Loans @ 3%
10 Year Owner Loans @3%
Total Owner Loans

$100,000
$100,000
$200,000

Government loans
City of GSO Econ Dev't Loan (0%, 15 years)
Total Government Loans

$600,000
$600,000

Commercial Loans
Self Help ($700,000 @ 4.08%)
Total Commercial Loans

$700,000
$700,000

TOTAL BORROWED

$1,500,000

From revenue model


From revenue model

Notes
$35
$1
$65
$35
$0
$30,000
$1
$6
$0
$0
$0
$1
$6
$0
$15,000
$0
$100
$1,000
$100
$3,000

Amount

Per total square foot


Of total square footage
Per total square foot
Per retail square foot
Of (LHI+eqpt+inv)
Months of wages
Months of wages
Of first year sales
Stewart Reid's sources & uses doc

Of year 1 sales
Of start up costs

Data Source
S Reid/vanilla box
S Reid
S Reid
S Reid
S Reid
S Reid
S Reid
S Reid
S Reid
S Reid
Calculated
S Reid
S Reid
S Reid
S Reid

renaissancecoop.com

RCC Pro Forma

Year One Income Statement

Revision: May 23, 2013

Month of Start-up
Month of Operation
Month Name
Number of Weeks
Revenue Schedule
Sales
Gross Sales

1
June
4.29

2
July
4.43

3
August
4.43

4
September
4.29

5
October
4.43

6
November
4.29

7
December
4.43

8
January
4.43

9
February
4.00

10
March
4.43

11
April
4.29

12
May
4.43

Annual
52.14

$ 197,802 $ 238,462 $ 272,527 $ 296,703 $ 340,659 $ 329,670 $ 340,659 $ 340,659 $ 307,692 $ 340,659 $ 329,670 $ 340,659 $ 3,675,824
$ 197,802 $ 238,462 $ 272,527 $ 296,703 $ 340,659 $ 329,670 $ 340,659 $ 340,659 $ 307,692 $ 340,659 $ 329,670 $ 340,659 $ 3,675,824
Total Cost of Food/Products $ 138,462 $ 166,923

$ 190,769

$ 207,692

$ 238,462

$ 230,769

$ 238,462

$ 238,462

$ 215,385

$ 238,462

$ 230,769

$ 238,462

$ 2,573,077

Labor
Production Staff

Production Materials
Bags
Pricing labels
Supplies - cleaning, etc

$ 35,096 $ 36,266 $ 36,266 $ 35,096 $ 36,266 $ 35,096 $ 36,266 $ 36,266 $ 32,756 $ 36,266 $ 35,096 $ 36,266 $ 426,998

Total Labor Cost $ 35,096 $ 36,266 $ 36,266 $ 35,096 $ 36,266 $ 35,096 $ 36,266 $ 36,266 $ 32,756 $ 36,266 $ 35,096 $ 36,266 $ 426,998

$ 198
$ 99
$ 198
Total Production Materials $ 495

Variable Costs
Prod. - Insurance - Workers' Comp
Prod. - Employee Health Benefits
Prod. - Payroll Taxes--Prodn Wages
Credit Card Fees
Repair and Maintenance
Other
Total Other Production Expenses
Total Cost of Goods Sold
General & Admin Wages
Administrative Employees

$ 273

$ 136

$ 273

$ 681

$ 297

$ 148

$ 297

$ 742

$ 341

$ 170

$ 341

$ 852

$ 330

$ 165

$ 330

$ 824

$ 341

$ 170

$ 341

$ 852

$ 341

$ 170

$ 341

$ 852

$ 308

$ 154

$ 308

$ 769

$ 341

$ 170

$ 341

$ 852

$ 330

$ 165

$ 330

$ 824

$ 341

$ 170

$ 341

$ 852

$ 3,676
$ 1,838
$ 3,676
$ 9,190

$ 2,176
$ 5,667
$ 3,862
$ 3,055
$ 238

$ 477

$ 15,475
$ 219,260

$ 2,176
$ 5,667
$ 3,862
$ 3,491
$ 273

$ 545

$ 16,014
$ 243,730

$ 2,106
$ 5,667
$ 3,738
$ 3,801
$ 297

$ 593

$ 16,201
$ 259,731

$ 2,176
$ 5,667
$ 3,862
$ 4,364
$ 341

$ 681

$ 17,091
$ 292,669

$ 2,106
$ 5,667
$ 3,738
$ 4,223
$ 330

$ 659

$ 16,722
$ 283,411

$ 2,176
$ 5,667
$ 3,862
$ 4,364
$ 341

$ 681

$ 17,091
$ 292,669

$ 2,176
$ 5,667
$ 3,862
$ 4,364
$ 341

$ 681

$ 17,091
$ 292,669

$ 1,965
$ 5,667
$ 3,489
$ 3,942
$ 308

$ 615

$ 15,985
$ 264,895

$ 2,176
$ 5,667
$ 3,862
$ 4,364
$ 341

$ 681

$ 17,091
$ 292,669

$ 2,106
$ 5,667
$ 3,738
$ 4,223
$ 330

$ 659

$ 16,722
$ 283,411

$ 2,176
$ 5,667
$ 3,862
$ 4,364
$ 341

$ 681

$ 17,091
$ 292,669

$ 25,620

$ 68,000

$ 45,475

$ 47,087

$ 3,676
$ 7,352
$ 197,210

$ 3,206,474

$ 10,371 $ 10,717 $ 10,717 $ 10,371 $ 10,717 $ 10,371 $ 10,717 $ 10,717 $ 9,680 $ 10,717 $ 10,371 $ 10,717 $ 126,186

Total G & A Wages $ 10,371 $ 10,717 $ 10,717 $ 10,371 $ 10,717 $ 10,371 $ 10,717 $ 10,717 $ 9,680 $ 10,717 $ 10,371 $ 10,717 $ 126,186

General & Admin Expense


Admin. - Payroll Tax--Others
Admin. - Workers' Comp--Others
Admin. - Employee Benefits--Other
Electric
HVAC
Pest Control
Commercial Trash Removal
Telephone
Water & Sewer
Insurance - Inclusive (R&D & liability etc.)
Interest on Debt
Depreciation
Rent/Lease (inc. prop tax & fire ins.?)
Accounting
Payroll Fees
Computer/Website Expense (hosting, email etc.)
Legal Expenses
Membership Fees etc.
Office Expense
Marketing--Ads, etc.
Other G&A
Total G&A--Other Than Wages
Total Gen and Admin

Renaissance Coop Committee

$ 2,106

$ 5,667

$ 3,738

$ 2,534

$ 198
$ 396
$ 14,637
$ 188,689

$ 238

$ 119

$ 238

$ 596

$ 1,105

$ 104
$ 667
$ 800
$ 1,500

$ 80
$ 100
$ 100
$ 200
$ 250
$ 2,880

$ 9,940

$ 500
$ 120
$ 400
$ 275
$ 100
$ 250
$ 25
$ 2,631

$ 200
$ 22,225
$ 32,597

$ 1,141
$ 107

$ 667

$ 800

$ 2,000
$ 80
$ 100

$ 100

$ 200

$ 250

$ 2,855
$ 9,940
$ 500

$ 120

$ 400

$ 275

$ 100

$ 250

$ 25
$ 3,172
$ 200

$ 23,282
$ 33,999

$ 1,141
$ 107

$ 667

$ 800

$ 2,500
$ 80
$ 100

$ 100

$ 200

$ 250

$ 2,831
$ 9,940
$ 500

$ 120

$ 400

$ 275

$ 100

$ 250

$ 25
$ 3,625
$ 200

$ 24,210
$ 34,927

$ 1,105
$ 104

$ 667

$ 800

$ 2,500
$ 80
$ 100

$ 100

$ 200

$ 250

$ 2,806
$ 9,940
$ 1,418
$ 120

$ 400

$ 275

$ 100

$ 250

$ 25
$ 3,946
$ 200

$ 25,384
$ 35,756

$ 1,141
$ 107

$ 667

$ 800

$ 2,000
$ 80
$ 100

$ 100

$ 200

$ 250

$ 2,781
$ 9,940
$ 1,418
$ 120

$ 400

$ 275

$ 100

$ 250

$ 25
$ 4,531
$ 200

$ 25,485
$ 36,202

$ 1,105
$ 104

$ 667

$ 800

$ 1,000
$ 80
$ 100

$ 100

$ 200

$ 250

$ 2,757
$ 9,940
$ 1,418
$ 120

$ 400

$ 275

$ 100

$ 250

$ 25
$ 4,385
$ 200

$ 24,273
$ 34,645

$ 1,141
$ 107

$ 667

$ 800

$ 1,500
$ 80
$ 100

$ 100

$ 200

$ 250

$ 2,732
$ 9,940
$ 1,934
$ 120

$ 400

$ 275

$ 100

$ 250

$ 25
$ 4,531
$ 200

$ 25,451
$ 36,168

$ 1,141
$ 107

$ 667

$ 800

$ 1,500
$ 80
$ 100

$ 100

$ 200

$ 250

$ 2,707
$ 9,940
$ 1,934
$ 120

$ 400

$ 275

$ 100

$ 250

$ 25
$ 4,531
$ 200

$ 25,426
$ 36,143

$ 1,031
$ 97
$ 667

$ 800

$ 1,500
$ 80
$ 100

$ 100

$ 200

$ 250

$ 2,681
$ 9,940
$ 1,934
$ 120

$ 400

$ 275

$ 100

$ 250

$ 25
$ 4,092
$ 200

$ 24,842
$ 34,522

$ 1,141
$ 107

$ 667

$ 800

$ 1,000
$ 80
$ 100

$ 100

$ 200

$ 250

$ 2,656
$ 9,940
$ 1,978
$ 120

$ 400

$ 275

$ 100

$ 250

$ 25
$ 4,531
$ 200

$ 24,920
$ 35,637

$ 1,105
$ 104

$ 667

$ 800

$ 1,000
$ 80
$ 100

$ 100

$ 200

$ 250

$ 2,631
$ 9,940
$ 1,978
$ 120

$ 400

$ 275

$ 100

$ 250

$ 25
$ 4,385
$ 200

$ 24,708
$ 35,080

$ 1,141
$ 107

$ 667

$ 800

$ 1,000
$ 80
$ 100

$ 100

$ 200

$ 250

$ 2,606
$ 9,940
$ 1,978
$ 120

$ 400

$ 275

$ 100

$ 250

$ 25
$ 4,531
$ 200

$ 24,869
$ 35,586

$ 13,439

$ 1,262
$ 8,000
$ 9,600
$ 19,000

$ 960
$ 1,200
$ 1,200
$ 250
$ 3,000
$ 32,923

$ 119,275

$ 17,489

$ 1,440
$ 4,800
$ 3,300
$ 1,200
$ 3,000
$ 300
$ 48,888

$ 2,400
$ 295,076

$ 421,261

renaissancecoop.com

RCC Pro Forma

Year One Income Statement

Revision: May 23, 2013

Month of Start-up
Month of Operation
Month Name
Number of Weeks

1
June
4.29

2
July
4.43

3
August
4.43

4
September
4.29

5
October
4.43

6
November
4.29

7
December
4.43

8
January
4.43

9
February
4.00

10
March
4.43

11
April
4.29

12
May
4.43

Annual
52.14

TOTAL OPERATING COSTS $ 221,286 $ 253,259



$ 278,657

$ 295,487

$ 328,871

$ 318,056

$ 328,838

$ 328,813

$ 299,417

$ 328,306

$ 318,491

$ 328,256

$ 3,627,736
Net Profit $ (23,484) $ (14,797)

$ (6,130)

$ 1,217 $ 11,788 $ 11,614 $ 11,822 $ 11,847 $ 8,276 $ 12,353 $ 11,180 $ 12,404 $ 48,089

Income Taxes -
-
-
-
-
-
-
-
-
-
-
-
$ 19,235

Labor as a % of sales
30%
25%
22%
20%
18%
18%
18%
18%
18%
18%
18%
18%
NET INCOME AFTER TAXES

Assumptions
Cost of goods sold
Payroll Taxes
Workers Compenstation (Risky)
Workers Compenstation (Non-Risky)
Employee health benefits
credit card fee rate
% of credit card usage
Sales Tax
Building Depreciation
Equipment Depreciation
Income Tax
marketing costs
Bags
Pricing labels
Cleaning supplies
Repair & maintenance
Other
Electric
HVAC
Pest Control
Trash Removal
Telephone
Water & Sewer
Insurance--Inclusive
Rent first quarter of operations
Variable rent rate for later quarters
Cap on rent
Accounting
Computer/Internet/Website Expense
Legal Expenses
Membership fees
Office Expense
Other G&A
Payroll Fees

Renaissance Coop Committee

$ 28,853

70%
10.65%
0.06
0.01
$ 4,000

0.03
0.4
0.0675
20
7
0.4
1.33%
0.1%
0.05%
0.1%
0.1%
0.2%
$ 800
$ 80
$ 100
$ 100
$ 200
$ 250
$ 500
0.6%
$ 2,000

$ 120
$ 275
$ 100
$ 250
$ 25
$ 200
$ 400

Of wages

Per FT employee/year

Years
Years
Of sales
Of sales
Of sales
Of sales
Of sales
Of sales
Per month
Variable by season
Per month
Per month
Per month
Per month
Per month
Per month
Of prev QTR sales
Per month
Per month
Per month
Per month
Per month
Per month
Per month
Per month

renaissancecoop.com

RCC Pro Forma

3 Year Income Statement

Revision: May 23, 2013

Year of Start-up
1
Revenue Schedule
Sales

$ 3,675,824

$ 3,933,132

$ 4,208,451

Total Gross Sales $ 3,675,824

$ 3,933,132

$ 4,208,451

Total Cost of Food/Products


Labor
Production Staff

$ 2,573,077

$ 2,753,192

$ 2,945,916

$ 426,998 $ 448,348 $ 470,765


Total Labor Cost $ 426,998 $ 448,348 $ 470,765

Production Materials
Bags
Pricing labels
Supplies - cleaning, etc
Total Production Materials

$ 3,676

$ 1,838

$ 3,676

$ 9,190

$ 3,749

$ 1,875

$ 3,749

$ 9,373

$ 3,824

$ 1,912

$ 3,824

$ 9,561

Variable Costs
Prod. - Insurance - Workers' Comp
Prod. - Employee Benefits
Prod. - Payroll Taxes--Prodn Wages
Credit Card Fees
Repair and Maintenance
Other
Total Variable Costs

$ 25,620
$ 68,000
$ 45,475
$ 47,087
$ 3,676

$ 7,352

$ 197,210

$ 26,901
$ 71,400
$ 47,749
$ 50,383
$ 3,749

$ 7,499

$ 207,681

$ 28,246
$ 74,970
$ 50,136
$ 53,910
$ 3,824

$ 7,649

$ 218,736

Total Cost of Goods Sold

$ 3,206,474

$ 3,418,595

$ 3,644,977

General & Admin Wages


Administrative Employees

$ 126,186 $ 129,971 $ 133,870


Total G & A Wages $ 126,186 $ 129,971 $ 133,870

General & Admin Expense


Admin. - Payroll Tax--Others
Admin. - Workers' Comp--Others
Admin. - Employee Benefits--Other
Electric
HVAC
Pest Control
Trash Removal
Telephone

Renaissance Coop Committee

$ 13,439
$ 1,262

$ 8,000

$ 9,600

$ 19,000
$ 960
$ 1,200

$ 1,200

$ 13,842
$ 1,300

$ 8,240

$ 9,792

$ 19,380
$ 979
$ 1,224

$ 1,224

$ 14,257
$ 1,339

$ 8,487

$ 9,988

$ 19,768
$ 999
$ 1,248

$ 1,248

renaissancecoop.com

RCC Pro Forma

3 Year Income Statement

Revision: May 23, 2013

Year of Start-up
Revenue Schedule
Water & Sewer
Insurance - Inclusive
Interest on Debt
Depreciation
Rent
Accounting
Payroll Fees
Computer/Internet/Website Expense
Legal Expenses
Membership Fees
Office Expense
Marketing--Ads, etc.
Other G&A
Total G&A--Other Than Wages
Total Gen and Admin

$ 250
$ 3,000

$ 32,923
$ 119,275
$ 17,489
$ 1,440

$ 4,800

$ 3,300

$ 1,200

$ 3,000

$ 300
$ 48,888
$ 2,400

$ 292,926
$ 419,111

$ 255
$ 3,060

$ 29,256
$ 119,275
$ 24,000
$ 1,469

$ 5,040

$ 3,366

$ 1,224

$ 3,150

$ 306
$ 49,866
$ 2,448

$ 298,695
$ 428,667

$ 260
$ 3,121

$ 25,437
$ 119,275
$ 24,480
$ 1,498

$ 5,292

$ 3,433

$ 1,248

$ 3,308

$ 312
$ 50,864
$ 2,497

$ 298,359
$ 432,230

TOTAL OPERATING COSTS $ 3,625,586



$ 3,847,261

$ 4,077,207

Net Profit $ 50,239 $ 85,871 $ 131,244
Income Taxes $ 19,235 $ 34,348 $ 52,498
Net Profit After Taxes $ 31,003 $ 51,522 $ 78,747
Assumptions for Growth
Cost of Goods sold holds steady relative to price charged
General Expense Growth
Production Employee Expense Growth
Admin Employee Growth
Sales Growth

Renaissance Coop Committee

70%
2%
5%
3%
7%

renaissancecoop.com

RCC Pro Forma

Year 1 Cash Flow Analysis

Revision: May 23, 2013

Month of Start-up
1
2
3
4
5
6
7
8
9
10
11
12
$ 220,549 $ 198,125 $ 184,362 $ 179,242 $ 181,444 $ 194,193 $ 206,742 $ 219,474 $ 232,206 $ 241,342 $ 254,530 $ 266,520

Starting Cash
Sources
Cash Sales
Rental Income
Short-term Loan Proceeds
Long-Term Loan Proceeds
Equity Capital Proceeds

$ 197,802
$ -
$ -
$ -
$ -
Total Souces $ 197,802

Uses
Payroll & Related
Cost of Food/Products Sold
Production Materials
Other Production Expenses
Insurance
Rent
Other G&A
Interest
Purchase Depreciable Assets
Purchase Non-Depr. Assets
Dividends, Owner Pay-outs
Debt Principle Payments
Total Uses Before Taxes

$ 58,852
$ 138,462
$ 495

$ 3,127
$ 250

$ 500

$ 6,781
$ 2,880
$ -
$ -
$ -
$ 8,881
$ 220,227

Average

$ 238,462
$ -
$ -
$ -
$ -
$ 238,462

$ 272,527
$ -
$ -
$ -
$ -
$ 272,527

$ 296,703
$ -
$ -
$ -
$ -
$ 296,703

$ 340,659
$ -
$ -
$ -
$ -
$ 340,659

$ 329,670
$ -
$ -
$ -
$ -
$ 329,670

$ 340,659
$ -
$ -
$ -
$ -
$ 340,659

$ 340,659
$ -
$ -
$ -
$ -
$ 340,659

$ 307,692
$ -
$ -
$ -
$ -
$ 307,692

$ 340,659
$ -
$ -
$ -
$ -
$ 340,659

$ 329,670
$ -
$ -
$ -
$ -
$ 329,670

$ 340,659
$ -
$ -
$ -
$ -
$ 340,659

$ 60,603
$ 166,923
$ 596

$ 3,770
$ 250

$ 500

$ 7,822
$ 2,855
$ -
$ -
$ -
$ 8,905
$ 252,224

$ 60,603
$ 190,769
$ 681

$ 4,309
$ 250

$ 500

$ 8,775
$ 2,831
$ -
$ -
$ -
$ 8,930
$ 277,647

$ 58,852
$ 207,692
$ 742

$ 4,691
$ 250

$ 1,418
$ 9,096
$ 2,806
$ -
$ -
$ -
$ 8,954
$ 294,502

$ 60,603
$ 238,462
$ 852

$ 5,386
$ 250

$ 1,418
$ 9,181
$ 2,781
$ -
$ -
$ -
$ 8,979
$ 327,911

$ 58,852
$ 230,769
$ 824

$ 5,212
$ 250

$ 1,418
$ 8,035
$ 2,757
$ -
$ -
$ -
$ 9,004
$ 317,121

$ 60,603
$ 238,462
$ 852

$ 5,386
$ 250

$ 1,934
$ 8,681
$ 2,732
$ -
$ -
$ -
$ 9,029
$ 327,927

$ 60,603
$ 238,462
$ 852

$ 5,386
$ 250

$ 1,934
$ 8,681
$ 2,707
$ -
$ -
$ -
$ 9,054
$ 327,927

$ 55,351
$ 215,385
$ 769

$ 4,865
$ 250

$ 1,934
$ 8,242
$ 2,681
$ -
$ -
$ -
$ 9,079
$ 298,556

$ 60,603
$ 238,462
$ 852

$ 5,386
$ 250

$ 1,978
$ 8,181
$ 2,656
$ -
$ -
$ -
$ 9,104
$ 327,471

$ 58,852
$ 230,769
$ 824

$ 5,212
$ 250

$ 1,978
$ 8,035
$ 2,631
$ -
$ -
$ -
$ 9,130
$ 317,681

$ 60,603
$ 238,462
$ 852

$ 5,386
$ 250

$ 1,978
$ 8,181
$ 2,606 $ 2,744
$ -
$ -
$ -
$ 9,155 $ 9,017
$ 327,471

Income Taxes $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 19,235


Total Uses After Taxes $ 220,227

$ 252,224

$ 277,647

$ 294,502

$ 327,911

$ 317,121

$ 327,927

$ 327,927

$ 298,556

$ 327,471

$ 317,681

$ 346,707

Net Change in Cash $ (22,425)

$ (13,763)

$ (5,120)

$ 2,202 $ 12,749 $ 12,550 $ 12,732 $ 12,732 $ 9,136 $ 13,188 $ 11,989 $ (6,047)

Ending Cash Position $ 198,125

$ 184,362

$ 179,242

$ 181,444

$ 194,193

$ 206,742

$ 219,474

$ 232,206

$ 241,342

$ 254,530

$ 266,520

$ 260,472

Net Change in Cash before Interest & Debt Pmt
Debt servcie coverage

$ (10,664)

$ (2,002) $ 6,641 $ 13,962 $ 24,509 $ 24,310 $ 24,493 $ 24,493 $ 20,897 $ 24,949 $ 23,750 $ 5,713 $ 15,088
-0.91
-0.17
0.56
1.19
2.08
2.07
2.08
2.08
1.78
2.12
2.02
0.49
1.28

Interest & debt principle

$ 11,761 $ 11,761 $ 11,761 $ 11,761 $ 11,761 $ 11,761 $ 11,761 $ 11,761 $ 11,761 $ 11,761 $ 11,761 $ 11,761

Renaissance Coop Committee

renaissancecoop.com

RCC Pro Forma

Three-year Cash Flow Analysis

Revision: May 23, 2013

Summary Cash Flow Analysis


1
2
3
$ 220,549 $ 270,422 $ 337,538

Starting Cash
Sources
Cash Sales
Rental Income
Short-term Loan Proceeds
Long-Term Loan Proceeds
Equity Capital Proceeds

$ 3,675,824
$ -
$ -
$ -
$ -
Total Souces $ 3,675,824

Uses
Payroll & Related
Cost of Food/Products Sold
Production Materials
Other Production Expenses
Insurance
Rent
Other G&A
Interest
Purchase Depreciable Assets
Purchase Non-Depr. Assets
Dividends, Owner Pay-outs
Debt Principle Payments
Total Uses Before Taxes
Income Taxes

$ 714,979
$ 2,573,077
$ 9,190
$ 58,115

$ 3,000
$ 17,489

$ 89,738

$ 32,923

$ -
$ -
$ -
$ 108,205
$ 3,606,716

$ 3,933,132
$ -
$ -
$ -
$ -
$ 3,933,132

$ 4,208,451
$ -
$ -
$ -
$ -
$ 4,208,451

$ 747,751
$ 2,753,192
$ 9,373
$ 61,631

$ 3,060
$ 24,000

$ 91,533

$ 29,256

$ -
$ -
$ -
$ 111,872
$ 3,831,669

$ 782,071
$ 2,945,916
$ 9,561
$ 65,383

$ 3,121
$ 24,480

$ 93,364

$ 25,437

$ -
$ -
$ -
$ 115,691
$ 4,065,024

$ 19,235

$ 34,348

$ 52,498

Total Uses After Taxes $ 3,625,951 $ 3,866,017 $ 4,117,521


Net Change in Cash $ 49,873

$ 67,115

$ 90,930

Ending Cash Position $ 270,422 $ 337,538 $ 428,467
Net Change in Cash before Interest & Debt Pmt $ 191,001 $ 208,243 $ 232,057
Debt servcie coverage
1.35
1.48
1.64
Sum of Interst & debt principle
$ 141,128 $ 141,128 $ 141,128

Renaissance Coop Committee

renaissancecoop.com

RCC Pro Forma

Debt Service

Month of Operation
Month Name
Number of Weeks

Revision: May 23, 2013

Debt Service year 1


6
7
8
November December
January
4.29
4.43
4.43

1
June
4.29

2
July
4.43

3
August
4.43

4
September
4.29

5
October
4.43

Self Help - interest


Self-Help - principal
5 Year Owner Loans - Interest
5 Year Owner Loans - principal
10 Year Owner Loans - interest
10 Year owner Loans - principal
City of Greensboro - interest
City of Greensboro - principal

$ 2,380

$ 7,214

$ 250
$ 1,667

$ 250
$ -
$ -
$ -

$ 2,355
$ 7,238
$ 250

$ 1,667
$ 250

$ -
$ -
$ -

$ 2,331
$ 7,263
$ 250

$ 1,667
$ 250

$ -
$ -
$ -

$ 2,306
$ 7,288
$ 250

$ 1,667
$ 250

$ -
$ -
$ -

$ 2,281
$ 7,313
$ 250

$ 1,667
$ 250

$ -
$ -
$ -

Monthly interest
Monthly principal

$ 2,880

$ 2,855 $ 2,831 $ 2,806 $ 2,781 $ 2,757 $ 2,732 $ 2,707 $ 2,681 $ 2,656 $ 2,631 $ 2,606 $ 32,923
$ 8,881

$ 8,905 $ 8,930 $ 8,954 $ 8,979 $ 9,004 $ 9,029 $ 9,054 $ 9,079 $ 9,104 $ 9,130 $ 9,155 $ 108,205

$ 2,257
$ 7,337
$ 250

$ 1,667
$ 250

$ -
$ -
$ -

$ 2,232
$ 7,362
$ 250

$ 1,667
$ 250

$ -
$ -
$ -

$ 2,207
$ 7,387
$ 250

$ 1,667
$ 250

$ -
$ -
$ -

Annual Debt Service years 1-15


Year 6
Year 7
Year 8

9
February
4.00

10
March
4.43

11
April
4.29

12
May
4.43

Annual

$ 2,181
$ 7,413
$ 250

$ 1,667
$ 250

$ -
$ -
$ -

$ 2,156
$ 7,438
$ 250

$ 1,667
$ 250

$ -
$ -
$ -

$ 2,131
$ 7,463
$ 250

$ 1,667
$ 250

$ -
$ -
$ -

$ 2,106
$ 7,488
$ 250

$ 1,667
$ 250

$ -
$ -
$ -

$ 26,923
$ 88,205
$ 3,000
$ 20,000
$ 3,000
$ -
$ -
$ -

52.14

Year 1

Year 2

Year 3

Year 4

Year 5

Self Help - interest


Self-Help - principal
5 Year Owner Loans - Interest
5 Year Owner Loans - principal
10 Year Owner Loans - interest
10 Year owner Loans - principal
City of Greensboro - interest
City of Greensboro - principal

$ 26,923
$ 88,205
$ 3,000

$ 20,000
$ 3,000

$ -
$ -
$ -

$ 23,256
$ 91,872
$ 3,000
$ 20,000
$ 3,000
$ -
$ -
$ -

$ 19,437
$ 95,691
$ 3,000
$ 20,000
$ 3,000
$ -
$ -
$ -

$ 15,459
$ 99,669
$ 3,000
$ 20,000
$ 3,000
$ -
$ -
$ -

$ 11,315
$ 103,812
$ 3,000
$ 20,000
$ 3,000
$ -
$ -
$ -

Annual Interest
Annual Principal

$ 32,923 $ 29,256 $ 25,437 $ 21,459 $ 17,315 $ 10,000 $ 5,504 $ 3,000 $ 3,000 $ 3,000 $ - $ - $ - $ - $ -
$ 108,205 $ 111,872 $ 115,691 $ 119,669 $ 123,812 $ 128,128 $ 132,623 $ 95,000 $ 95,000 $ 95,000 $ 75,000 $ 75,000 $ 75,000 $ 75,000 $ 75,000

Annual Debt Service

$ 141,128 $ 141,128

$ 141,128

$ 141,128

$ 141,128

$ 138,128

$ 138,128

$ 98,000 $ 98,000 $ 98,000 $ 75,000 $ 75,000 $ 75,000

$ 75,000 $ 75,000

Renaissance Coop Committee

$ 7,000
$ 108,128
$ -
$ -
$ 3,000
$ 20,000
$ -
$ -

$ 2,504
$ 112,623
$ -
$ -
$ 3,000
$ 20,000
$ -
$ -

$ -
$ -
$ -
$ -
$ 3,000
$ 20,000
$ -
$ 75,000

Year 9

Year 10

Year 11

Year 12

Year 13

Year 14

Year 15

$ -
$ -
$ -
$ -
$ 3,000
$ 20,000
$ -
$ 75,000

$ -
$ -
$ -
$ -
$ 3,000
$ 20,000
$ -
$ 75,000

$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 75,000

$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 75,000

$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 75,000

$ -
$ -
$ -
$ -
$ -
$ -
$ 75,000

$ -
$ -
$ -
$ -
$ -
$ -
$ 75,000

renaissancecoop.com

RCC Pro Forma

Self Help Mortgage Amortization

Inputs

Revision: May 23, 2013

Key Figures

Loan principal amount

$700,000

Annual loan payments

$115,127.52

Blended annual interest rate


Loan period in years
Base year of loan
Base month of loan

4.080%
7
2014
January

Monthly payments
Interest in first calendar year
Interest over term of loan
Sum of all payments

$9,593.96
$26,922.71
$105,892.64
$805,892.64

Payments in First 12 Months


Year Month
Beginning Balance
2014 Jan
$ 700,000.00
Feb
$ 692,786.04
Mar
$ 685,547.55
Apr
$ 678,284.45
May
$ 670,996.66
Jun
$ 663,684.09
Jul
$ 656,346.66
Aug
$ 648,984.28
Sep
$ 641,596.87
Oct
$ 634,184.34
Nov
$ 626,746.61
Dec
$ 619,283.59

Payment
$ 9,593.96
$ 9,593.96
$ 9,593.96
$ 9,593.96
$ 9,593.96
$ 9,593.96
$ 9,593.96
$ 9,593.96
$ 9,593.96
$ 9,593.96
$ 9,593.96
$ 9,593.96

Yearly Schedule of Balances and Payments


Year Beginning Balance Payment
2015 $ 611,795.19 $ 115,127.52
2016 $ 519,923.26 $ 115,127.52
2017 $ 424,232.35 $ 115,127.52
2018 $ 324,563.41 $ 115,127.52
2019 $ 220,751.06 $ 115,127.52
2020 $ 112,623.06 $ 115,127.52

Principal
Interest
$ 91,871.93

$ 23,255.59

$ 95,690.91

$ 19,436.61

$ 99,668.94

$ 15,458.58

$ 103,812.35 $ 11,315.17

$ 108,128.00 $ 6,999.52

$ 112,623.06 $ 2,504.46

Renaissance Coop Committee

Principal
Interest
Cumulative Principal
$ 7,213.96

$ 2,380.00

$ 7,213.96

$ 7,238.49

$ 2,355.47

$ 14,452.45
$ 7,263.10

$ 2,330.86

$ 21,715.55
$ 7,287.79

$ 2,306.17

$ 29,003.34
$ 7,312.57

$ 2,281.39

$ 36,315.91
$ 7,337.43

$ 2,256.53

$ 43,653.34
$ 7,362.38

$ 2,231.58

$ 51,015.72
$ 7,387.41

$ 2,206.55

$ 58,403.13
$ 7,412.53

$ 2,181.43

$ 65,815.66
$ 7,437.73

$ 2,156.23

$ 73,253.39
$ 7,463.02

$ 2,130.94

$ 80,716.41
$ 7,488.40

$ 2,105.56

$ 88,204.81

Cumulative Principal
$ 180,076.74
$ 275,767.65
$ 375,436.59
$ 479,248.94
$ 587,376.94
$ 700,000.00

Cumulative Interest
$ 50,178.30
$ 69,614.91
$ 85,073.49
$ 96,388.66
$ 103,388.18
$ 105,892.64

Cumulative Interest Ending Balance


$ 2,380.00

$ 692,786.04
$ 4,735.47

$ 685,547.55
$ 7,066.33

$ 678,284.45
$ 9,372.50

$ 670,996.66
$ 11,653.89 $ 663,684.09
$ 13,910.42 $ 656,346.66
$ 16,142.00 $ 648,984.28
$ 18,348.55 $ 641,596.87
$ 20,529.98 $ 634,184.34
$ 22,686.21 $ 626,746.61
$ 24,817.15 $ 619,283.59
$ 26,922.71 $ 611,795.19

Ending Balance
$ 519,923.26
$ 424,232.35
$ 324,563.41
$ 220,751.06
$ 112,623.06
$ -

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