Presentation is loading. Please wait.

Presentation is loading. Please wait.

Rethinking Transportation Funding 3 hours/week Invest your Time Spend time finding ways to reduce costs, secure funding.

Similar presentations


Presentation on theme: "Rethinking Transportation Funding 3 hours/week Invest your Time Spend time finding ways to reduce costs, secure funding."— Presentation transcript:

1

2 Rethinking Transportation Funding

3 3 hours/week Invest your Time Spend time finding ways to reduce costs, secure funding

4 Rule # UNO: Provide value to your funders

5 1. Know how much it costs you to provide your service 2. Save money where you can 3. Maximize federal dollars 4. Raise funds 5. Create long-term community support 5 Funding Strategies

6 1. Know how much it costs to provide your service

7 What is your annual cost of service? Passenger trip cost = annual cost of service ÷ annual number of trips (Note: define “passenger trip” as any completed, revenue- generating passenger trip)

8 “Transportation by the Numbers” National Center for Senior Transportation tool http://seniortransportation.easterseals.com/site/PageServer?pagename=NCST2_Transportation_by_the_Numbers

9 2. Save money where you can

10  The Insurance Store  Energy maintenance program  Bulk fueling program  Reduced costs background checks  Motor vehicle records  Employment screening products  Reduced loan costs  Reduced EXPO fees CTAA Member Benefits www.ctaa.org, under tab “Financing”

11 Microloans for transit software and hardware Working capital loans Insurance and self-insurance financing Gap financing Community Development Transportation Lending Services, Inc. (sponsored by CTAA) 3-4% financing

12  Turnover costs 1.5-2 times a person’s salary  Employees are partners in creating your image, establishing your agency within the community  Tap into their knowledge of their side of the business  Incentivize employees for innovative ways to save money Your Employees are a Valuable Resource: Cherish them!

13  Green technologies (hybrid vehicles—CTAA benefit)  Bulk fuel purchasing (CTAA benefit)  National resource management (re-use waste water from washing vehicles, reduce idling) Reduce usage of natural resources

14  Joint maintenance  Joint insurance  Joint purchases Shared Operational Costs

15  Driver training  Dispatcher/scheduler training  Staff hiring/screening  Drug/alcohol testing Shared Personnel Costs

16  Fares are not required  Fares cover only a small portion of costs (farebox recovery ratio) BUT  Do add a perception of value to the service Cost of Fare Collection

17 3. Maximize federal dollars

18 Write effective grants Maximize opportunity for local and in-kind match Leverage non-DOT federal match money

19  Private donations can serve as local match  Funds, real property, materials and services eligible  Document value of in-kind contributions In-Kind Match

20 4. Raise Funds (or) Time to Get Creative

21  Any surface can be converted into revenue  “Trade” advertising space for services (e.g, radio spots, reduced vehicle maintenance costs)  Sponsorships (e.g., golf tournaments)  Infrastructure (agency built bus shelter in exchange for 1-2 years of advertising)  Sell the rights to put your cool logo on Tshirts, etc. Advertising One source: Lessons Learned in Transit Efficiencies, Revenue Generation, and Cost Reduction http://ntl.bts.gov/lib/4000/4600/4633/lessons.pdf

22  Project must be in foundation’s primary area of interest  Foundations do not give away money -- they invest in a project with a specific goal and want to see results  Usually tied to a specific population—not for general services  Performance measures: be able to report benefits to donors/community  Successful grant leads to more grant money Seek Foundation Grants

23 Percentage Foundation funding, by category, 2011 Source: Foundation Center

24 Percentage Foundation Human Service Grants, by category

25 Finding a Foundation Foundation Center (www.foundationcenter.org) Council on Foundations (www.cof.org/Locator)

26  Have a clear mission and objectives tied to community welfare  Solicit donations – from individuals and other foundations  Report benefits to donors/community Set up Your Own Foundation

27 Contract Revenue 2. Help the prospective purchaser know what it’s costing them now to provide transportation 4. Establish a contract, performance measures, review process 1. Know what it will cost your agency to provide services 3. Standards – Ensure them you will treat “their” customers right

28  Brokerages motivated by completing the highest number of trips for least amount of money  Enter negotiations knowing your bottom line, be willing to negotiate on price and volume of trips  Know the players: brokerage managers, health care orgs., legislators that have a say in Medicaid CTAA’s Competitive Edge training: brush up on your negotiating skills Working with Medicaid Brokerages

29 Other Contract Revenue 2. Provide maintenance on other agency or nonprofit vehicles 1. Lease extra space in your facility 3. Create contracts for your employees’ special expertise (e.g., safety training, HAZMAT handling, security)

30  Delivery of auto parts and supplies to garages and dealerships on return “deadhead” trips  Transferring books for libraries  Collect recycling on the bus  Rocking chair marathons  Sponsored golf tournaments, other events  On-line auction Non-Transportation Revenue: for $ or Good Will

31 “Top ten crowdsourced funding platforms” http://dowser.org/top-ten-crowdsourced-funding-platforms/ Crowdsourcing.org http://www.crowdsourcing.org/community/crowdfunding/7 Crowd-funding raised $1.2 billion globally in 2011 Crowd-Funding

32 $320 million pledged by 2.2 million people on 18,000 projects 2011: Kickstarter hit 1 million backers

33  Services to match their priorities Recap: What Funders Want  Defined performance goals  How it will benefit them  To know that you can deliver

34 5. Create long-term community support... by far, the best long-term funding strategy

35 Thank you! Amy Conrick Community Transportation Association of America conrick@ctaa.org 202-415-9692


Download ppt "Rethinking Transportation Funding 3 hours/week Invest your Time Spend time finding ways to reduce costs, secure funding."

Similar presentations


Ads by Google