Springboard to Success

“Expenses communications & marketing 246 point of sale system 3,017 education 625 insurance 3,599 merchant account fees 10,517 office maintenance 1,004 bank charges 211 supplies 3,781 taxes and licenses 3,836 miscellaneous 129 grilled cheese meltdown 1,559 barefoot ball 366 miscellaneous services 660 gift card expense 306 direct deposit charges 499 non-investment depreciation 2,046 total 32,401”

“Accounts receivable 140 589 depreciable assets 20,788 20,788 less accumulated depreciation 10,129 12,175 due from dma 1,987 0 total 12,786 9,202”

“Accounts payable and accrued expenses 29,457 33,026 deferred revenue 750 0 payroll taxes payable 1,884 0 sales taxes payable 5,526 6,367 tenant security deposits 7,553 7,408 gift certificates 0 735 due to dmc 80 0”

“The corporation is organized exclusively for charitable and educational purposes to encourage economic development and job creation in the furtherance of community revitalization and the curbing of community deterioration. The corporation is organized to provide incubator settings in marketplaces that are blighted or underserved by retail stores. This is done in an effort to strengthen the retail sector by attracting new businesses while strengthening existing businesses, thereby increasing the availability of much-needed goods and services, and an expansion of local employment. In addition, the corporation will provide, within the incubator setting, an educational and supportive environment for start-up and expanding, early- stage, independently owned businesses in such blighted or underserved communities.”

“The organization aids in economic development by providing an educational and supportive environment for start-up and expanding, early stage, independent businesses. The organization helps transform the retail landscape in mobile, alabama's urban core. The retail incubator gives retailers the ability to understand the downtown shop owner's experience while enjoying professional support and guidance. The incubator offers the members the advantage of learning-by-doing while equipping tenants with the skills and knowledge to be independently successful. During 2019, twenty- eight entrepreneurs were provided an opportunity for individual consultation by an outside business consultant. The tenants also had periodic focus groups lead by the consultant designed to provide information on various business topics, such as merchandising, marketing, security and finance. Springboard to success provided full time staffing, point of sale system reporting, telephone, high-speed internet access, as well as on-going, on-site management of the tenants. The retail incubator is located within the central business district where the entrepreneurs are trained to capitalize on daytime employment spending as well as special event opportunities unique to an urban location.”