Springboard to Success

“Expenses communications & marketing 1,292 point of sale system 3,812 computer support 1,378 insurance 3,839 merchant account fees 8,324 office maintenance 1,516 bank charges 80 supplies 804 taxes and licenses 3,918 miscellaneous 157 cash over short 25 miscellaneous services 721 store wrap expense 2,259 non-investment depreciation 1,363 total 29,488”

“Book/tax depreciation difference -95 book / tax depreciation difference 95”

“Accounts receivable 589 0 depreciable assets 20,788 22,690 less accumulated depreciation 12,175 13,538 total 9,202 9,152”

“Accounts payable and accrued expenses 33,026 31,382 sales taxes payable 6,367 8,271 tenant security deposits 7,408 4,783 gift certificates 735 1,742 refunds due 0 84”

“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, ndependent 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 the covid-19 estraictions and shut-downs, the organization secured multiple grants to upport the small, independent retailers. Springboard to success provided full time staffing, point of sale system reporting, telephone, high-speed internet access, marketing and promotion assistance, consultation by experienced retailers, as well as on-going, n-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.”