Springboard to Success

“Expenses communications & marketing 366 office supplies and expense 20,850 training 49 insurance 3,805 taxes and licenses 1,109 non-investment depreciation 1,553 total 27,732”

“Depreciable assets 22,690 22,690 less accumulated depreciation 13,538 15,091 total 9,152 7,599”

“Accounts payable and accrued expenses 31,381 50,863 sales taxes payable 8,271 14,043 tenant security deposits 4,783 5,164 gift certificates 1,742 2,062 refunds due 84 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, 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 the covid-19 restrictions and shut-downs, the organization secured multiple grants to support 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 ongoing, 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.”