Strategic Plan
 

 

 

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Eastern Kentucky Heritage Monument

Strategic Development Plan

Effective March 1, 2006

  

Strategy

 

Time Frame

Comments

Formation of nonprofit organization

incorporated as 501(c)3 March 28, 2006

Eastern Kentucky Heritage Monument, Inc (EKHM)

 

File incorporation papers

 

 

 

Completed

 
Organizational development

 

 

on-going

 
Evaluate EKHM Board structure and processes to insure efficient and effective oversight of EKHM

 

  Completed  
Develop a capital campaign plan by 9/06  

first meeting compleded

Work with Dr. Bill Laramie of Berea College

 

Develop a financial plan for acquisition and development of site by 9/06 Add to the already secured $95,000 for Feasibility, Marketing, Preliminary Site Study studies, etc  from Mt. Parkway Trails Corridor, SEKTDA, KY ARC, and Center for Rural Development.

Seek line item or earmark in state budge under multi-county regional coal severance fund

 

Acquire local/regional support and commitments

 

by 9/06  

on-going

EKHM
Obtain letters of support from local political leadership within the region

 

Received signed letters of support from 11 County Judge Executives  
Seek resource commitments from local governments with the region

 

  Financial or in-kind
Obtain letters of support from local and regional tourism, crafts and heritage organizations

 

   
Seek resource commitments from local and regional tourism, crafts and heritage organizations

 

  Financial or in-kind
Obtain letters of support from state officials

 

 

   
Seek resource commitments from state officials

 

 

  Financial or in-kind

Strategy

 

Time Frame

Comments

Acquisition of land by 6/07  
Definition of criteria for an appropriate site

 

complete Accessible to Mt. Parkway
Review of available parcels

 

complete  
Selection of appropriate site

 

pending 2 sites identified
Signed option for first right to buy primary site

 

  EKHM with assistance from KRADD
Negotiation for acquisition of site    
Acquisition of site   Inform seller of tax outcomes for donation of portion or all of site

 

Construction of facility by 6/10 EKHM with assistance from KRADD and project manager

 

Determine desired characteristics of project management firm

 

   
 Advertise for bids

 

  KRADD will develop
 Evaluate bids   KRADD make recommendations to EKHM

 

Hire project management firm

 

   
Hire planner/designer/architect

 

   
Acquisition of required permits

 

   
Agreements on provision of utilities signed

 

   
Develop site plan

 

  draft done
Approve site plan

 

   
Site preparation

 

   
Site development

 

   
Periodic review of development process

 

   
Operations and Management

 

by 6/10  
Develop annual operational budget and 3 year financial plan

 

  Contact Appalachian Ideas Network and local universities for assistance
Identify desired characteristics of EKHM Executive Director complete Grantsmanship,

capital campaign experience, political connections

 

Strategy

 

Time Frame

Comments

Develop job description

 

7/06 KRADD will assist
Advertise and review applications

 

10/06 KRADD will assist
Executive Director begins working

 

3/07 Estimated salary $60,000 - $100,000
Determine desired characteristics of facilities manager

 

  Facilities management experience
Develop job description

 

  KRADD will assist
Advertise and review applications

 

  KRADD will assist
Facilities manager Hire manager/director   Must be completed at least 6 months before opening

 

Develop a facilities marketing plan   Contact SEKTDA, KY Tourism for assistance

 

Develop an event/activity plan for the facility 18 months prior to opening Identify number and types of events and activities to be held at the facility

Contracts for at least the first year  must be signed prior to opening

 

Acquisition of equipment required for or contracts signed for maintenance of site 6 months prior to opening Determine if local governments or organizations will meet this need through in-kind contributions

 

Determine if core facilities (theater, café, gift shop) will be wholly owned and operated by EKHM or leased under contract to independent operators 18 months prior to opening Need to assess the costs and benefits of these approaches for each core facility. May have a mix of approaches depending on the analysis for each facility

 

Hire staff 1-2 months prior to opening Estimated employment 27 FTE
Train staff

 

1 month prior to opening  
Develop partnerships with regional tourism partners

 

on-going  
Identify regional tourism assets

Environmental

Cultural

Historical

Agri-tourism

 

   

on-going

Partner with SEKTDA
Develop a plan for integrating tourism opportunities within the region   on-going Consider prospects for offering one day to one week “packages” oriented around particular types of experiences (e.g., music, crafts, nature-based)

Strategy

 

Time Frame

Comments

Contact tour bus industry and others who organize tours to market facility and regional opportunities

 

   
Identify and develop where necessary supporting businesses (e.g.,)

Overnight facilities

Restaurants

 

   

 

Other points of information and suggestions

 

Eastern Kentucky Heritage Monument, Inc (EKHM)

 

This is the organizing entity which has been incorporated as a 501C(3) in Kentucky

            Articles of incorporation

            By-laws

            Board of Directors

            Executive Director (non-voting member of the Board)

 

Need to review composition of Board to guarantee you have the skills, knowledge and contacts essential for accomplishing the goal of building and operating the facility

 

Need to review the structure and operational procedures of Board to guarantee that they facilitate an efficient accomplishment of your goal of building and operating the facility

 

For example, need to have a Finance Committee, an Audit Committee, an Executive Committee and any others deemed necessary for the functioning of the organization

 

Make sure you acquire Board of Directors liability insurance to protect members of the Board from personal liability for the project

 

EKHM will serve in the following capacities:

            Will be the Fiscal Agent

            Will own the property

            Will own the facilities

            Will manage the facilities

 

 

The capital campaign

 

Develop list of key contributors

 

Secure commitments for at least 20% of projected total prior to announcement of campaign

 

Appoint a campaign coordinator to manage the campaign

 

Identify and train volunteer campaign solicitors

 

Allocate key contributors to specific solicitors

 

Consider acquiring a commitment of support from one or two persons in the music industry and see if they would be willing to host a fund-raising event at the next awards event where a model of the monument on the proposed site can be displayed, musicians from the region can perform and potential donors can sign pledge cards or make donations

 

 

Sources of operational income

 

Entry fee ($3 per person: Feasibility Study estimates 700,000 visitors a year after third year)

 

Food sales

 

Gift/gallery sales

 

Event rental fees for facilities

 

Performance facility gate and concessions

 

Donations to EKHM foundation

 

Need to emphasize as you develop your operational budgets and your long-term financial plan a mix of revenue flows.

 

Also need to plan from the beginning to establish a reserve fund that will enable you to operate for a period of time without an income at all (generally recommended that you have a budget “cushion” of at least 6 months)

*** Thanks to Dr. Lori Garkavitch, University of Kentucky, for helping design the Strategic Plan***