MANA PROJECT 501(c)(3) 2009 CAPITAL CAMPAIGN AND FUNDING PLAN

SAVING NANCY FORRESTER'S SECRET GARDEN AN ENVIRONMENTAL TREASURE

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MANA PROJECT 2009 CAPITAL CAMPAIGN

This year Mana Project will launch Phase 1 of its capital campaign in July 2009 to raise an initial $168,000 to take over the management and operations of the property known as Nancy Forrester's Secret Garden in order to preserve it as public space. Mana Project, contingent on obtaining a Bank Loan, plans to take over the current obligations and enter a Lease with Option to Buy the property and convert it to nonprofit status. Mana Project has the commitment of local bank and mortgage financiers who are advising the Capital Campaign. The two year plan calls for stabilizing the operating budget and among other things, hiring a grant writer, a bird handler/resident manager, a webmaster and an executive director. Nancy Forrester will continue to live in her residence in the Garden, assist in the transition, and will remain the environmental artist in residence who will shepherd the garden and its invaluable collection of plants and animals. Mana Project will continue to run and expand the existing three educational programs: I Love Parrots, Greensong Garden, and Environmental Arts .

FUNDING PLAN

Define the Loan	Amount	Description of Outstanding Dept on Property
	1,050,000	Mortgages (750 +300)
	77,000	Back Interest/payments on Mortgages 50 + 27 as of July 5, 2009
	32,000	Taxes due, as of March 31, 2009* (2007-8--Lot 2: $20,649) (2008 --Lot 3: $11,101)
	13,000	Loans for Mortgage Payments and Property surveys

SUBTOTAL	1,172,000
	180,500	Funding of one year's operating budget

SUM for Bank Loan	1,352,500	(as of July 5, 2009)

Monthly Loan Payment	7,000	Assuming 2% over prime (6% of 1,400,000)
Other expenses
Closing costs


	168,000	Escrow Bank Requirement to service $1,400k loan for 2 years

		*Save $32,000 annually in Taxes or $160,000 in 5 years

Mana Project, Inc. 2009-2010 Operating Budget* Year Ending: March 31, 2010
EXPENSES	Amount in Dollars
	60,000	Annual Minimal Expenses for Garden** 2009 (based on last 2 years: 2007-8) (includes taxes on lots 2 and 3 (2007: 10.5+13.8; 2008: 7.3+10.6)
	43,500	Bird Handler/Educator & Resident Manager (full time) 2009 $13/h for 50 hours per week incl. overtime + $500 Room/m ($715 per/w; 37,280 per/y + $6,000 Room per/y)
	13,000	Part time Garden Help 2009 $10/h for 25 hours per week
	5,000	Parrot Program (Supplies and Vet)
	10,000	Webmaster
	6,000	Cost of Transition (1-time cost)
	15,000	Grantwriter
	10,000	Hurricane Contingency Fund
	18,000	Executive Director (1-year, part-time)
Sub Total	180,500

TOTAL EXPENSES	180,500


REVENUE (Income)	Amount in Dollars
	45,500	Gate fee (same as 2008-9 income)
	21,000	Rent Cottage Rear
	5,000	Weddings/events/garden rentals
	39,000	Fundraisers and annual events/donations/memberships (20% increase over 2008-9)
	70,000	TDC (Tourist Development Council) & DCA (Division of Cultural Affairs) and other grants
TOTAL REVENUE***	180,500

		* Budget is contingent on Bank refinancing and Mana's assumption of Lease/Option to Buy Garden
		Assumptions based on two years (2007-9) Garden operations**
		*** This Projected Total Revenue is exclusive of the proceeds of $180,500 obtained through the new mortgage and the additional $168,000 to be held in escrow, and will assure further funding and the viability of this nonprofit plan.