$1,000,000 Capital Campaign Goal
To celebrate the Boston Crusaders 80th anniversary in 2020, the Board of Directors has launched an unprecedented $1,000,000 capital campaign to position the corps for championship-level success over the coming decades. Members of the board have committed funds to secure $470,000 of the $1,000,000 campaign goal.
The success of the 80th Anniversary Capital Campaign will provide the resources to complete our $500,000 fleet overhaul initiative and provide a world class infrastructure to support the Crusaders on tour. Additional strategic priorities include much needed repairs to our headquarters building in Hyde Park, funding for business expansion to enhance our revenue base, increasing working capital to accommodate seasonal variations in cash flow, and retirement of existing debt which burdens our ability to pursue new opportunities.
Will You Answer the Call?
YOUR CONTRIBUTIONS WILL FUND:
Critical Fleet Upgrades
A championship level corps requires a world-class infrastructure. In the past two years we replaced our 30-year old secondary equipment trailer and added a $250,000 brand new mobile kitchen. As other key fleet vehicles begin to reach the end of their useful lives, we need to replace the 20+ year old equipment trailer and the souvenir business’s utility vehicle.
New Business Acquisition
The management team has identified a promising acquisition opportunity in metro-Boston that will expand our music store business, broaden our local music education offerings and generate net revenue in the future.
Much of IAM’s recent growth and success has been fueled by strategic use of debt to expand our operational footprint and generate more income. However, the burden of annual debt service restricts free cash flow and burdens our ability to pursue new opportunities.
Inspire owns a 30,000 square foot building in Hyde Park that houses our offices and the Riverside Theatre Works community theater. Built over a century ago in 1897, the building recently received a critical roof replacement and is in need of other deferred maintenance to the heating and safety systems.
Working Capital Needs
Inspire Arts and Music has grown into an organization with an annual budget in excess of $4 million with over ten full full-time employees. Although we have run net surpluses for the past several years, our business still requires additional cash on hand to accommodate seasonal variations in cash flow.