Rev Up Fund Development: Strategic. Sustainable. Successful.

Are your revenue strategies working for your Main Street nonprofit?  How do you enhance those strategies for a prosperous (and profitable) future?

On March  20, 22, and 28 in Berryville, Danville, and Abingdon, the spring edition of the Regional Rev Up promises to load your Main Street program with the tools you need to create sustainable and successful fund development strategies.


Whether you are focusing on facade improvements, training your retailers, or developing a new website, running a successful Main Street program means raising money. But more than just fundraising, organizations need to build and cultivate relationships, show value to current and potential donors, understand their organizational strengths and weaknesses, and properly evaluate their events and activities.

Fund Development is more than raising money; it is the strategic positioning of an organization to sustain and grow its resources through relationship building.  Creating a shared vision, clear mission, creative strategies and effective communications help sustain and ensure the success of the organization.

Join the Virginia Main Street staff to learn components of a Fund Development Plan emphasizing partnership, ownership and results, including:

  • The difference between fund development and fundraising;
  • Board roles and responsibilities in fundraising;
  • How to assess and build your organization’s readiness for fund development; and
  • The importance of diversifying income to withstand losing an event or major donor.

Registration is free. Lunch will cost $15 and is only payable by cash on site at the event.  Registration for each Rev Up session closes one week prior to the event, so register now to reserve your spot!

Register now >>

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Can-Do Spirit Equals Success

Small rural communities often get discouraged either because they feel they are “too small” to make effectual changes in a slow economy or the revitalization needs of the community just seem too overwhelming. Not so for the inspirational town of Water Valley, Mississippi. According to this article, a couple who fell in love with the people in this small town decided to invest in the community and its businesses. Through a cooperative effort from other local investors, they now have a brewery, art gallery and a coding school for students.

“I think the biggest thing that has changed here is the attitude about what’s possible,” says Howley. “I think there’s really a can-do spirit and we’re going to do it ourselves. If you wait for someone to help you, it will never happen.”

Town Square Center for the Arts, Glade Spring, VA

Town Square Center for the Arts, Glade Spring, VA

Glade Spring, Virginia has a population of about 1,500. A few years ago, a small community of volunteers came together to form a non-profit named Project Glade. With only a $1,000 allocation from Town Council each year and a strong volunteer ethic, Project Glade is able to paint buildings, replace landscaping and vegetation, and complete other small improvement projects. The group also applied for Virginia Tobacco Commission and Appalachian Regional Commission funding in 2012 to rehabilitate an old bank building in the middle of their downtown. It now serves as the Town Square Center for the Arts and houses six artist in residence.

“Success doesn’t come to you, you go to it.” –Marva Collins

Creating a Successful “Entrepreneurial Ecosystem”

In Main Street districts, one of the best ways to fill vacancies, and prevent new ones, is to foster a setting that is attractive to entrepreneurs and where small businesses can thrive.  The buzz word nowadays for that setting is “entrepreneurial ecosystem,” which refers to the elements outside the individual that encourage entrepreneurship and increase the probability of a successful business following a launch.  That ecosystem is what attracts, or repels, a business from locating in an empty storefront.

entrepreneur-ecosystem

Entrepreneurial activity in the U.S. is up 60% and at its highest level since 2005, according to the newest Global Entrepreneurship Monitor (GEM U.S. Report) with retirees looking for a second career and younger adults driving the trend.  The market is ripe.

Energizing Entrepreneurs was developed by the Center for Rural Entrepreneurship to provide a roadmap for communities looking to build their own Entrepreneurial Ecosystems. It is a great resource for communities, organizations and individuals who want to learn:

  • Why it’s so important to become an entrepreneurial community;
  • The elements of a support system for entrepreneurs;
  • Assessment tools to develop a local strategy;
  • How to understand and connect to entrepreneurs; and
  • The importance of creating, measuring and sustaining local impact.

Exploring the opportunity is a first step and DHCD’s Building Entrepreneurial Economies program can support the effort!

Learn more >>

Main Street and Wine; a Great Pairing

Virginia’s thriving wine industry is boosting the state’s economy and local Main Street districts alike with a total impact of approximately $1.37 billion annually, according to a newly released economic impact study. This figure is an increase of 82 percent from the last study conducted in 2010.

“…one of our top agriculture goals was to make Virginia the preeminent East Coast destination for wine and winery tourism, and I am pleased our efforts are helping make this a reality,” said Governor McAuliffe. “This new study shows that this growth is being driven by small wineries, which demonstrates that the increased rural economic development is truly beneficial to local communities.”

The report showed that from 2010 and 2015, the number of wineries increased 35 percent, from 193 to 261. The number of full-time equivalent jobs at wineries and vineyards saw a 73 percent increase, from 4,753 to 8,218. Wages from jobs at wineries and vineyards increased 87 percent during the same time period as well, from $156 million, to $291 million.

Tourism to Virginia wineries also showed impressive growth. The number of people visiting wineries grew by 39 percent, from 1.6 million visitors in 2010 to 2.25 million visitors in 2015. At the same time, wine-related tourism expenditures grew dramatically from $131 million to $188 million, a significant 43 percent increase.

Culpeper’s Hoptober Fest 2016

Wine and Virginia’s downtowns make a great pairing.  Culpeper Renaissance Inc. expanded their wildly successful craft beverage festival to twice a year and the downtown features several shops that sell local craft beverages, Culpeper Cheese Company and Vinosity.  In Staunton eonophiles can visit Yelping Dog for a their wine fix, and don’t miss Saturday tastings at Vintages by the Dan in Danville. However it is done, Main Street recognizes the local economic impacts of partnering with regional craft beverage producers.

Check out the full 2015 Economic Impact Study of Wine and Wine Grapes on the Commonwealth of Virginia and don’t forget to visit the Virginia Wine Marketing Office for more information on the industry statewide.

Main Street Insurance Program Announced

program-by-the-numbersRecently, Main Street managers have been asking about options for the insurance required for their organizations. Although we don’t endorse any program, we wanted to make you aware that the National Main Street Center, together with National Trust Insurance Services (NTIS), has announced the Main Street Insurance Program. For every insurance package a Main Street program secures through NTIS, NTIS will in turn provide financial support to the Main Street America movement nationally.

National Trust Insurance Services is the for-profit subsidiary of the National Trust for Historic Preservation and, thus, the “sister” organization to the National Main Street Center. NTIS was created in 2003 to address the growing issues and concerns regarding proper insurance coverage for historic properties as well as the organizations that work to maintain them. They have extensive experience insuring individual historic properties, small businesses, and preservation organizations.

NTIS currently works with 300+ Main Streets, offering comprehensive insurance products, including General Liability, Blanket Event Liability, Directors & Officers Liability, and Volunteer Liability, just to name a few. In addition, NTIS offers  General Risk Management and Contractual Risk Transfer guidance to their clients.

NTIS will be hosting a webinar through the National Main Street Center on Risk Management & Main Street on Wednesday, February 15. They will be able to answer any questions about the program, quote process, and how to protect yourself and your organization from the common risks that threaten Main Street organizations.

If you are interested in learning more about the packages NTIS offers and the process to obtain a quote, please visit the NTIS website, or contact their Main Street representative, Shannon O’Hare, at 443-529-0396 or sohare@mdpins.com.

Local Incentives Drive Community Development

160914-manassas-ribbon-cutting

Manassas Ribbon Cutting

One of the most important ways that a municipality can support it’s small business community is through targeted financial incentives. A recent Potomac Local article touted the expansion of the city of Manassas’ business incentive programs, including Façade Improvement Grants and Landscape Improvement Grants. These incentives will assist with the exterior renovations and landscaping of existing commercial or industrial properties.  The new initiatives are designed to encourage business owners to reinvest in properties throughout the City and serve as a redevelopment tool intended to bring new life to older structures.  Each pilot program has been allocated $50,000 and property owners must agree to invest $2 for every $1 the City invests.

Incentives like these are used alone or as part of a package to retain and attract business to a Main Street district or generally catalyze projects.  They are often in the form of a grant or a zero- to low-interest loan to promote improvements and appropriate design.  Seed funding sources can come from Tax Increment Financing (TIF), bank partnerships, Community Development Block Grants (CDBG), municipal/county targeted funds, or private loans and grants.  Incentives can mean the difference between vacant storefronts and a vibrant downtown neighborhood.

Congratulations to Manassas!

Learn more >>

 

Can “Open Late” increase “Shop Local?”

ClosedSignIt’s an old problem and a pervasive one. In Main Street districts nationwide, small business owner’s are reluctant to be open late or on the weekends. As a consequence those who work 9-5 jobs outside of the district are unable to shop local. A recent Wyoming Business Report article takes a look at how Main Street businesses’ hours of operation could be a catalyst for shifting economic progress.

Store hours come up in conversations with Main Street advocates across the state and nationwide.  It’s a discussion topic that often ends with a collective sigh.  It’s a challenge to convince independent business owners to change, let alone an entire consumer group.

Writer Joel Funk highlights solutions from several Wyoming downtown professionals and the National Main Street Center’s Matt Wagner.  Business owners need people downtown to make it worth their while to stay open and, equally true, shoppers need businesses to be open to make it worth their while to come downtown.  A successful shift of store hours is reliant upon a relationship between the owner and consumer, encouraged by the local Main Street program’s market awareness and perseverance.

70% of all consumer spending (both locals and visitors) takes place after 6 p.m.  Tourism specialist Roger Brooks suggests starting the shift by working with businesses to stay open on Friday and Saturday until 7 p.m. the first year, then add additional days as merchant confidence and consumer habits change.

Be that catalyst to shift economic progress.  Start the conversation!