2020 was indeed a significant year in the life of Hive13. As your Hive13 Treasurer, I can now share the good news to reassure folks that Hive13 remains in good financial shape in our new much-larger and much-nicer 2701SG home.
The following is a simple summary (filtering out the cash-flow and discretionary expense complications) to compare two “typical months”, before and after the move.
January 2020 represents a typical month at our old 2929SG home before the move. We had a mix of 104 members. We were cash-positive (income - fixed expenses) and netted $2,162 in discretionary income for this typical month before the move.
December 2020 represents a typical month at our new 2701SG home after the move. We had 107 members. Thanks largely to about a dozen Cornerstone members, our income was up 9%, but our fixed expenses were up too by 63%. We are still cash-positive, but netted somewhat less. The discretionary income was $1,386 for this typical month after the move.
At the current mix of member categories, in a pessimistic “what-if” case, the Hive membership could fall from 107 members to 74 members and we would still cover our fixed expenses and be cash-neutral (net zero) for a typical month.
Similarly, with the same mix in an optimistic “what-if” case, if we were to grow to 127 members, we would more-than-cover the fixed expenses, and our monthly cash-positive status returns to pre-move $2,162 levels.
For the year 2020, the Hive had $53,537 in income, and $65,719 in expense. Despite expending $25,000 for the move, our net (income - expenses) was only down by by $12,181 for the year.
It is good to share this FANTASTIC NEWS that Hive13 remains comfortably cash-positive in the new 2701SG location. There is room for further improvement. With our fixed costs covered, each new member represents an increase in our discretionary income.
Credit goes to all who have contributed to make 2020 be the success that it was, despite the challenges. Hive13 is poised for an even brighter future as we grow out of this Covid pandemic.
JimD