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Rethinking Transportation Funding

Rethinking Transportation Funding. Invest your Time Spend time finding ways to reduce costs, secure funding. 3 hours/week. Rule # UNO: Provide value to your funders. 5 Funding Strategies. 1. Know how much it costs you to provide your service.

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Rethinking Transportation Funding

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  1. Rethinking Transportation Funding

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

  3. Rule # UNO: Provide value to your funders

  4. 5 Funding Strategies 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. 1. Know how much it costs to provide your service

  6. 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)

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

  8. 2. Save money where you can

  9. CTAA Member Benefits • 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 www.ctaa.org, under tab “Financing”

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

  11. Your Employees are a Valuable Resource: Cherish them! • 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

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

  13. Shared Operational Costs • Joint maintenance • Joint insurance • Joint purchases

  14. Shared Personnel Costs • Driver training • Dispatcher/scheduler training • Staff hiring/screening • Drug/alcohol testing

  15. Cost of Fare Collection • 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

  16. 3. Maximize federal dollars

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

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

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

  20. Advertising • 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. One source: Lessons Learned in Transit Efficiencies, Revenue Generation, and Cost Reduction http://ntl.bts.gov/lib/4000/4600/4633/lessons.pdf

  21. Seek Foundation Grants • 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

  22. Foundation funding, by category, 2011 Percentage Source: Foundation Center

  23. Foundation Human Service Grants, by category Percentage

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

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

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

  27. Working with Medicaid Brokerages • 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

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

  29. Non-Transportation Revenue: for $ or Good Will • 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

  30. Crowd-Funding • “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

  31. $320 million pledged by 2.2 millionpeopleon 18,000projects 2011: Kickstarter hit 1 million backers

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

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

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

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