Knox Extreme Sports (knxsports) is a Tennessee Not for Profit Corporation currently filing with the federal government for it’s 501(c)(3) status. Currently knxsports funding apparatus is handled through our financial partner, Legacy Parks Foundation – http://www.legacyparks.org/
We need your support.
To help us in these initial stages you can make a tax deductible donation via our GoFundMe account found here.
We are currently fundraising in three areas:
1. Phase I Startup Costs: Starting up a project such as this requires initial capital infusions, as does the foundation of any business. The founders of knxsports (launched out of Live Love Hope) are committing $25,000 of their own money initially over the next twelve months and are seeking to raise an additional $75,000 for a total of $100,000 startup costs for 2015.
Anyone can contribute to a portion of our initial startup costs which are outlined on the GoFundMe page. We are also applying for a grant for $50,000 combined with the founders contribution of $25,000 for our total $100,000 of funding.
The $100,000 will be used in part as it is outlined on the GoFundMe page, but also for normal startup costs including payroll for limited staff, the bid process for construction, various projects such as signage, cleanup, seating, portable bathrooms and other items needed at the park during Phase I.
Timeframe: January to December of 2015
2. Phase II Capital Costs: The overall project is expected to cost roughly $1M in capital. This will go to the various projects that will ultimately be decided by our development team. These are the projects outlined on “The Project” page. This campaign is starting this spring and will primarily be focused on major foundations in the area. Several have already indicated a willingness to fund portions of the project. We are well on our way.
Timeframe: April 2015 to June 2017
3. Phase III Ongoing Operations: Continuing to operate KESP will require ongoing cashflow to support the operations. We expect a significant portion of this to come through the various programs, contests, events, cafe, shop and other mediums. We also expect that ongoing fundraising will be required to sustain operations. We are budgeting for 75% of our operational expenses to be covered by through operational cashflow sources listed above, while the remaining 25% to be funded through outside contributions. Our final budget is not completed but we expect ongoing operations to run $300,000 per year after the third year.
Timeframe: July 2017 ongoing