Item 8 Supporting document — original pdf

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Texas Music Museum Business Summary I July 29, 2024 About the Organization The Texas Music Museum (TMM), established in 1984, has a rich history of preserving and promoting the diverse musical heritage of Texas. With the large collection of Texas music history, including rare recordings, sheet music, and over 100 original Texas musician interviews, and unique artifacts, the museum has been a cornerstone in celebrating and educating the public about the state's musical legacy for over 40 years. The Texas Music Museum educates visitors about Texas musical heritage through exhibits highlighting Texas music history and the contributions of African American and Mexican American musicians from East Austin and through out Texas. TMM collaborates with local musicians, Title I schools, senior centers, and institutions like Huston-Tillotson University to oer live performances, educational tours, and diverse cultural events. The museum's rich archive preserves the diverse history of Texas music by preserving invaluable artifacts and materials, and oering educational programs for the community. Services   Market  Primary: Our target audience includes local community members, tourists visiting Austin, and music enthusiasts interested in Texas's musical heritage. Secondary: We also serve educational institutions, senior centers, and researchers interested in Texas music history. Annually, we host 5,000 to 6,000+ visitors, including tourists. Best Customers: Educators, students, historians, local musicians, and tourists passionate about music's cultural and historical aspects are our most engaged patrons. They attend events, participate in educational programs, and use our research archives. Planned Revenue Streams: Event Space Rental (upon moving to a new space) Donation Box, Donations (currently implemented with future plans) Annual Fundraisers (planned for the future) Grants (current and future plans) Corporate Sponsorships (future plans) Admission Fees (upon moving to a new space) Board and Management  Clay Shorkey, PhD, Board President - Professor Emeritus- School of Social Work, The University of Texas at Austin Jason Mellard, PhD, Vice President - Director, Center for Texas Music History, Department of History, Texas State University, San Marcos, Texas Rudy Martinez, Treasurer - Coordinator, NTP Semiconductors, Retired, Austin, Texas Gina Bustos, Secretary - Elementary School Educator, Austin Independent School District Beulah Agnes Curry Jones EdD - Retired Dean of Fine Arts & Music, Huston Tillotson College, Austin, Texas Pamela Hart, MBA - Senior Program Manager, Jazz Vocalist, First Lady of Jazz, Austin, Texas Emmitt W Hayes, Jr- Independent Consultant and Intral Care Board, Austin and Travis County, Austin, Texas Louis Hicks, BFA, MFA - Consultant for Washington DC Community Heritage Project And retired Director of Alexandria Black History Museum, Washington, DC Bernadette Phifer- Retired Director at the George Washington Carver Museum Cultural And Genealogy Center, Austin, Texas Sta Investment Needs Sylvia Morales, BS, MSIS -Texas Music Museum, Community Engagement Manager Jacarious Stanley, BS - Texas Music Museum, Docent, Social Media Manager We are seeking an underutilized building, ideally in East Austin, encompassing approximately 13,000 square feet, including space for our storage. We are open to opportunities in Blocks 16 & 18. Current commercial market value ranges from $40-60 per square foot, so we could not aord to pay rent at that level in Austin. Expanding the Texas Music Museum is vital not only for preserving our rich musical heritage but also for educating visitors and youth. This initiative ensures that future generations can connect with and appreciate Texas's diverse musical history in a dedicated and essential space. Our ultimate goal is to establish a large, world-class cultural institution. Scenario 1- Bare Bones: $350K Includes rent to stay in current location, continued small events, and minimal sta consisting of a Full-Time Director, Education Manager, 2 part-time docents. Operating in survival mode and limited to Monday to Friday, noon to 4PM and low potential for growth. Scenario 2-  Historical Preservation: $550K- includes building for $1 with 13,000 sq ft space from the City of Austin. In addition to hiring sta in Scenario 1, This Scenario enables hiring a full-time Collection Care Manager for preservation initiatives, as well hiring part-time roles for a Development Ocer & Controller to support fundraising & financial management. This investment would allow space for larger events, including renting the space to generate revenue. (This includes scenario 1 sta, Salaries estimates from Glassdoor.com ). Scenario 3-Cultivating a Cultural Institution: $850K includes 13,000 sq ft building for $1 from the City of Austin. This includes Scenario 1 & Scenario 2 initiatives. This Scenario 3 investment will allow funding to hire additional sta in marketing/PR, ensuring full-time positions for a Development Ocer and/or Controller. This investment would represent a significant step in helping TMM solidify their commitment to cultural enrichment ,propelling them to the next level in becoming a world-class institution in Austin. (Includes scenario I & II sta, Salaries estimated from Glassdoor.com). Annual Operating Expenses