Feasibility Studystudy Powder Ridge Mountain Park the Ability Center& Resort(TAC) Middlefield,Milwaukee, CT WI

July

October2012 201 4 3 FeasibilityFeasibility StudyStudy Powder Ridge Mountain Park The Ability Center& Resort(TAC) Middlefield,Milwaukee, CT WI

This document details the vision, the business model, current status, expected needs, defined markets, and projected results of the Sportport Amateur Athletics Complex project, as well as the projected feasibility for the success and financial viability of the project. This study represents a formal statement of the business goals and the reasons why they are believed attainable, in addition to the financial projections, program plan, and background information about the Founding Team and its assembled advisory board.

Prepared for: AFAR, Inc. d/b/a The Ability Center

Prepared by: The Sports Facilities Advisory, LLC

FEASIBILITY STUDY THE ABILITY CENTER (TAC)

TABLE OF CONTENTS

PROJECT PLANNING & DEVELOPMENT ...... 3

EXECUTIVE SUMMARY ...... 4

INTRODUCTION ...... 5 The Business Model ...... 5 Overview of the Feasibility Study ...... 7 Assumptions and Drivers to Success ...... 8

METHODOLOGY AND BACKGROUND ...... 9

PROGRAMMING AND PRODUCTS/SERVICES ...... 10 Court Area...... 10 Track Area ...... 11 Fitness Area ...... 11 Aquatics Area ...... 11 Projected Revenue of Products and Services ...... 12

GOVERNANCE & MANAGEMENT TEAM ...... 13

BOARD OF DIRECTORS ...... 13 The Sports Facilities Advisory ...... 15

MARKET ANALYSIS ...... 16

MARKET OVERVIEW ...... 17

FACILITY LOCATION & SITE ACCESSIBILITY ...... 18

MARKET DEMOGRAPHIC CHARACTERISTICS ...... 19

EXISTING PROVIDER ANALYSIS ...... 21

FINANCIAL ANALYSIS ...... 30

REVIEW OF FINANCIAL PROJECTIONS ...... 31 Programming Revenues & Expenses ...... 32 Economic Impact ...... 37

CONCLUSION...... 40

CONCLUSION & PROFESSIONAL RECOMMENDATION ...... 41 Contributors to Project Success ...... 41 Challenges to Project Success ...... 42 Conclusion, Recommendations, & Next Steps ...... 43 APPENDIX ...... 44

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Project Planning & Development

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EXECUTIVE SUMMARY

The Sports Facilities Advisory (SFA) – with expertise in developing program plans, business plans, financial forecasts, and feasibility analyses, as well as consulting, operational management, and design – has developed a third-party feasibility study for The Ability Center, an indoor sports facility in Milwaukee, Wisconsin.

The Ability Center (TAC) will be a new business developed on the Milwaukee Regional Medical Center’s (MRMC) campus. The facility development –approximately 228,970 square feet in total – will encompass spaces and programming for adaptive court sports, track events, aquatics, and rock climbing.

SFA has projected the development cost of the indoor complex to be approximately $50M. The project’s financing structure will utilize a combination of grants, equity, donations, etc.; there will not be any “debt service.” Project success will ultimately be determined by the founding team’s ability to raise $50M of capital “debt free” for TAC. Under this scenario the operation is forecasted to achieve profitability in year three. SFA acknowledges that, should there be changes to the financing structure (most notably the addition of debt), the opportunity would need to be re- analyzed to predict long-term sustainability. Within the detailed pro forma, SFA has budgeted program revenues, direct expenses, payroll, and overhead expenses to forecast financial performance for the first five years of operation. The table below summarizes the findings:

Revenue Year 1 Year 2 Year 3 Year 4 Year 5 Total Revenue $2,357,551 $2,785,496 $3,257,732 $3,497,136 $3,820,644

Expenses Year 1 Year 2 Year 3 Year 4 Year 5 Total Cost of Goods Sold $982,735 $1,147,095 $1,325,648 $1,446,646 $1,566,761

Gross Margin $1,374,816 $1,638,401 $1,932,084 $2,050,490 $2,253,883 % of Revenue 58% 59% 59% 59% 59%

Facility Expenses $743,367 $765,669 $788,639 $812,298 $836,667 Operating Expense $429,202 $415,056 $413,918 $413,761 $415,112 Management Payroll $340,000 $346,800 $353,736 $360,811 $368,027 Payroll Taxes/Benefits/Bonus $155,640 $166,103 $177,834 $183,332 $193,067 Total Operating Expenses $1,668,209 $1,693,627 $1,734,127 $1,770,201 $1,812,873

EBITDA ($293,393) ($55,227) $197,958 $280,288 $441,010 % of Revenue -12% -2% 6% 8% 12% Debt Service

Total Net Income ($293,393) ($55,227) $197,958 $280,288 $441,010

Based on the findings above and TAC’s ability to be self-sustaining within the first five years of operations, SFA supports this project as “Feasibility: Yes.” This is significant because approximately two-thirds of SFA’s feasibility studies result in a “Feasibility: No” or require significant modifications to the business model, program plan, debt structure, funding/financing plan, and/or management plan before earning a “Feasibility: Yes.”

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INTRODUCTION

The Sports Facilities Advisory (SFA) was selected by The Ability Center – represented by Founder Damian Buchman and his assembled Board of Directors – to perform a market analysis, formal strategic planning session, market report, site visits, and stakeholder interviews. In addition to this time on site, SFA was contracted to complete a demographic study, perform a competition analysis, and forecast the financial viability through construction of a detailed Pro Forma. Subsequently, TAC engaged SFA to package all of the work/analysis to date and complete a comprehensive feasibility study for the project in Milwaukee County Wisconsin.

SFA is an independent sports facility consulting company which has completed feasibility studies, economic impact studies, and financial forecasts, as well as provided management services to a portfolio of more than $3.5 billion in planned and operational community and recreation sports facilities throughout the U.S. and overseas. SFA currently provides operations and management services to numerous facilities across the country; from Philadelphia to San Francisco and from Chicago to Houston, as well as other markets in between. Because of our experience and expertise in the planning and the actual management of facilities, SFA has developed industry-leading forecasting calculators and has access to crucial Key Performance Indicators (KPI’s) and benchmarks which allow the firm to provide realistic and accurate financial forecasts based on market demographics, current operations, comparable facilities, and emerging trends.

The purpose of this study is to assess the financial sustainability of the project. This document contains the findings of this work and summarizes the results of a comprehensive market study, review of comparable facilities, identification of keys to project success, and extensive research and analysis related to financials and facility performance.

THE BUSINESS MODEL TAC’s mission is to provide those impacted by disabilities with a daily opportunity to be fit, active, and healthy. This business model will feature a diverse product/service mix focused on collaborating with existing local and regional organizations as well as its ability to run its own programming. The facility will focus on differentiating itself from other fitness and recreational facilities by providing a fully accessible, universally designed facility for those with disabilities to utilize for fitness, sport, and other recreational activities. By design, the facility will offer ample opportunities for both able-bodied individuals and those with disabilities to work out, recreate, and meet in the same facility. A true “all-in-one” multisport and multiuse facility, TAC will offer traditional high-revenue-generating sports spaces such as its indoor courts to support operations. The facility will have the ability to host team and individual instruction/training, camps, clinics, leagues, and tournaments in a variety of sports such as basketball, volleyball, power soccer, wheelchair basketball, sitting volleyball, wheelchair rugby and aquatics sports and activities.

By combining these elements at one site, it is the desire of TAC to create an all-inclusive fitness, athletic, recreation and wellness facilities for all abilities that provides for the same opportunities for all to be fit, active and healthy regardless of level of ability. With this commitment, TAC aims to promote and advocate the needs of additional adaptive athletics, fitness and recreation and increase awareness in the local, surrounding and ultimately national regions.

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FACILITY CONCEPT & DESIGN Upon analyzing TAC’s spatial needs and “right sizing” the facility to market demand, SFA provided a general design program for the facility and this concept for the site and the building was illustrated by local partners Kahler Slater Design and Barrientos Design & Consulting, Inc. The program plan includes six basketball courts, 12 volleyball courts (four hardwood, two

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FEASIBILITY STUDY THE ABILITY CENTER (TAC) synthetic), an indoor ”Miracle League” softball field, fitness center, indoor track, a 25-meter 8- lane pool, rock wall, locker rooms/ restrooms, concessions, and incubator office space. The building sketch above (produced by Barrientos) provides a general layout for how the building may be designed; however, this sketch is for demonstrative purposes only and is not to scale.

 Utilizing construction estimates provided by Miron Construction in October of 2012 and incorporating sport equipment estimates from SFA the facilities estimated the facility at a cost of $185/sq. ft.  For the sport program areas, SFA has budgeted and recommends that TAC provide “best in class” amenities including but not limited to: o Floating hardwood floors o LED scoreboards with backlit o Retractable basketball and sponsor panels volleyball net systems o Remote controlled retractable o Indoor track divider curtains  SFA recommended the following provisions for an enhanced guest experience o Quality food & beverage options o Additional storage areas for o Adaptive fitness equipment wheelchairs/user’s adaptive o Increased circulation space and equipment facility accommodations for o Ample and well-lit parking disabled

OVERVIEW OF THE FEASIBILITY STUDY This study contains projections and actual tables from the comprehensive pro forma and financial forecast for TAC. The full, detailed pro forma has been delivered as an associated document.

It should be noted that any financial forecast, including this one, is based on certain assumptions regarding the financing structure, the business and management model, regional and national economic trends, the need to market and effectively manage high-quality programs, and the competitive landscape. Changes to these factors can impact future results. SFA’s analysis, as outlined within this document, indicates that the proposed business reaches operational profitability by the end of year three. Project success will ultimately be determined by the founding team’s ability to raise $50M of capital “debt free” for TAC. Should the appropriate amount be raised to cover capital expenses and operational losses during the first three years, SFA has deemed the project as “Feasibility: Yes.” SFA’s findings revealed that TAC possesses significant advantages to attract program participants, members, and serve the identified target market in the Greater Milwaukee area.

SFA’s analysis has been based on a number of assumptions, outlined below.

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ASSUMPTIONS AND DRIVERS TO SUCCESS  The facility’s potential location on the Milwaukee Regional Medical Center (MRMC) with access to a large number of individuals employed by the Blood Center of Wisconsin, Children’s Hospital of Wisconsin, Curative Care Network, Froedtert & Medical College of Wisconsin, and Milwaukee County Behavioral Health.  Potential partnership and research/physical therapy space for those with disabilities could expand the research capabilities of the MRMC and serve those with disabilities in the Milwaukee region.  Current community alliances and organizational ties are key in securing funds to support TAC’s capital needs and operational deficit in Years 1-3. TAC has cultivated relationships with and/or received support from numerous organizations including but not limited to:

a. The Wauwatosa School District b. The Great Lakes Adaptive Sports Association (GLASA) c. Badger Region Volleyball d. West Allis Lightning e. Visit Milwaukee f. Spina Bifida Wisconsin g. Daniel M. Soref Charitable Trust h. Helen Bader Foundation i. Greater Milwaukee Foundation (GMF)

 The financing structure currently assumes approximately $50M in by a combination of grant, equity, donations, etc.; there will not be any “debt service.”  If there are changes to the financing structure (most notably the addition of debt) the opportunity would need to be re-analyzed to predict long-term sustainability.  TAC will utilize its existing business, community organizations, and other successful programs (both able-bodied and adaptive) to bring in an existing platform of programs and customers to drive revenue and visitation.  TAC’s able-bodied programming assumes a drivetime area of influence of approximately 30 to 60 minutes to the facility in each direction. Based on the unique opportunity of programs for those with disabilities, TAC will be able to draw participants regionally and nationally.

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METHODOLOGY AND BACKGROUND

When assessing the feasibility of a facility or project, SFA is conservative in its analyses, financial forecasts, and feasibility projections, with approximately 70% of the projects analyzed by SFA resulting in either a “Feasibility: No” or requiring significant changes to the original business model, financing structure, and/or facility design.

In creating a financial forecast, SFA intentionally projects numbers that are dependent on timely MISSION marketing, attention to detail, ongoing financial To provide those impacted by analysis, a focus on customer service, and intelligent disabilities with a daily opportunity management practices but do not rely on unlikely to be fit, active, and healthy. circumstances or unreliable sources of revenue to achieve. If assessed on a 1-10 scale (where 1 represents a scenario in which the numbers are virtually guaranteed as long as the facility opens its doors and 10 represents a VISION scenario in which every revenue stream relies on a best- To build a universally designed case blend of timing and circumstance), SFA aims to fitness, athletic, recreation, and create a forecast that would fall between a 4 and a 5. wellness facility – not just For TAC specifically, SFA has produced a tailored accommodated for or accessible to financial forecast (pro forma) and analyzed the people with disabilities, but market using the following stages and methodology: specifically designed for their  Market Study: This stage encompassed therapeutic, recreational, and special demographic analysis (drivetimes, population, needs; inclusive of their families and income/spending trends, growth rates, etc.), a the able-bodied public. regional competitor analysis, and sports participation rates.  Site visit and market review with SFA Management Advisor/Owner Eric Sullivan and Business Analyst/Project Manager Justin Grant.  Conducted on-site interviews with potential user groups and stakeholders. (See Appendix A)  Reviewed TAC’s existing research, and business plan.  Built detailed programming models for TAC utilizing both in-house and rental programs.  Incorporated local market research to build out a pricing matrix for all programs and for visitors/residents/members/guests based on local competition.  Constructed facility plans as determined by identified program demand in the area, including the facility’s ability to attract and retain local, regional, and state sport tournaments as well as the unique facility and space needs for adaptive programming.  Defined an organization structure to support the programs that resulted from the steps above. SFA also analyzed compensation for each role and built a staffing structure and expenses for full-time and part-time staff.  Using proven industry metrics and comparable facility operational data, SFA forecasted operating revenue and facility expenses including heating and cooling, utilities, operating expenses, and items such as credit card and banking fees and a variety of other expenses corporate and direct expenses.

SFA utilized a blend of its proven metrics for calculating market share and made conservative assumptions on program growth with the addition of court, track, fitness, and aquatics inventory in the market. The Sports Facilities Advisory, LLC Page 9

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PROGRAMMING AND PRODUCTS/SERVICES

The Ability Center (TAC) will be designed as the premier adaptive, accessible, and inclusive athletics and fitness facility for all abilities. As such, TAC acknowledges the necessity for a diverse mix of products/services and the implementation of various programs and other offerings throughout the indoor elements. The indoor facility will feature multiple program spaces including a hardwood court area, a synthetic court area, an indoor track, a fitness area, and an aquatics area. These program spaces will be designed to accommodate a variety of sports and programming options for both able- bodied and adaptive sports and recreation. Recommendations related to the facility elements and programming can be found at the end of this study.

TAC will offer multiple athletic and recreational activities to serve a wide range of users and community pursuits. Based on the on-site meetings, market research, and financial forecasting, SFA has outlined its insights and preliminary recommendations. Based on these findings and the existing service providers in the market, SFA recommends a multi-sport facility with both hardwood and synthetic court surfaces. Additionally, the facility should be designed in such a way that it can accommodate corporate and civic events and include additional circulation space, storage, equipment, and amenities to support the needs of disabled visitors.

Below is a list of the program spaces and the various product and service offerings to be included in the first year of operation and beyond:

COURT AREA • Basketball: The hardwood court playing surfaces – suspended hardwood is the preferred flooring for basketball organizations and tournament organizers – will enable the facility to offer basketball instruction, leagues, tournaments, camps, and clinics. Instruction will be offered to individuals and small groups in multi-week sessions. Leagues would be played in 3v3 or 5v5 formats and offered to age groups, with camps and clinics geared more towards Youth and High School players. Court space would also be available for drop-in play, providing an additional source of revenue throughout the year. • Wheelchair Basketball: The synthetic court surfaces will be used to support wheelchair basketball adult and youth leagues and drop in play at TAC. Additional clinics and instruction will be offered over these courts from independent coaches and organizations utilizing TAC’s court space. • Volleyball: Indoor volleyball can be played in multiple formats including 4v4 and 6v6 over the courts. TAC would offer Fall, Holiday, Winter and Spring leagues to both males and females across all age levels, in addition to tournaments (local and regional), camps, clinics, and instructional sessions. Like basketball, “drop-in” play would be available for volleyball players at the facility.

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• Sitting Volleyball: An adaptive version of volleyball for those with disabilities, sitting volleyball will be offered on the synthetic courts in the facility. An inclusive activity, sitting volleyball can be structured to include both able bodied and those with disabilities to compete and recreate on a level playing field • Power Soccer: An adaptive version of court soccer played on a full basketball court that utilizes a 4v4 format. The facility will offer leagues and tournaments and for power soccer. • Other Sports: The court area can be used for other sports (e.g. Dodgeball, kickball, badminton, wheelchair rugby, adaptive softball, wheelchair bocce, Special Olympic events, and more). • Ancillary Revenue: The adaptable court area provides space for ancillary revenue-generating opportunities such as afterschool programs, camps, clinics, and court rentals.

TRACK AREA An indoor 200-meter, 6-lane track will provide for both recreational and competitive programming. This space will have the ability to host meets and events, be rented for practice and training, and also utilized for adaptive competition such as hand-cycling. In addition to its competitive offerings, the track will also be offered as a fitness amenity to members of the facility. This will be the only 200m indoor track offered within Milwaukee County, thus identifying this feature as a differentiator for TAC.

FITNESS AREA At over 25,000 square feet, TAC’s fitness center will be fully accessible for those with and without disabilities. Including additional adaptive equipment, extra circulation space, and storage, the area will also offer a sports performance area and four multi-use/group exercise rooms for a variety of programming. The fitness area will include designated space for cardio, selectorized, free weight, and group fitness training. Traditional fitness facilities typically average around 3% or less of total fitness equipment in the facility dedicated to accessible options. TAC plans to offer 31% accessible cardio equipment and 56% accessible strength equipment.

AQUATICS AREA The aquatics area will accommodate competition, recreation, and training/instruction in pool- related activities such as swim lessons, swim team training, master’s swimming, swim meets, lifeguard certification courses, water fitness, pool and lane rentals, and aquatic-themed birthday parties. Additionally, the aquatics area will be available to be rented for practice and competition by various organizations. In addition to serving competitive and recreational needs of able-bodied individuals, the pool will also be designed with adaptive usage in mind for those with disabilities.

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PROJECTED REVENUE OF PRODUCTS AND SERVICES The following table illustrates the revenue that each product/service lends to the overall bottom line. The specific revenue and expense projections can be found in the financial analysis section of this study. The table demonstrates the diversified revenue base for TAC business model. It also shows how the various contributions increase and are distributed over the first five years of operations.

Indoor Facility Revenue & Expenses- OPS LLC

Revenue Year 1 Year 2 Year 3 Year 4 Year 5 Tournament Revenue Basketball Tournaments $14,820 $44,370 $47,250 $66,930 $81,360 Basketball Rental Tournaments $28,386 $28,386 $36,069 $15,093 $21,636 Volleyball Tournaments $0 $20,475 $62,460 $107,550 $111,510 Volleyball Rental Tournaments $74,490 $55,125 $50,535 $44,190 $44,982 Indoor Rental Events $11,000 $14,000 $29,700 $31,900 $36,960 Hotel Rebates $25,366 $40,653 $58,024 $74,176 $77,343 Food & Beverage $109,050 $145,055 $187,065 $218,070 $227,575 Retail $28,035 $40,314 $53,990 $62,790 $65,709 Local Usage Revenue IAF-Memberships and Scholarships $591,904 $819,379 $946,382 $993,701 $1,095,556 IAF-Adaptive Baseball/Softball $15,161 $18,193 $21,013 $22,064 $24,326 IAF-Adaptive Basketball $36,140 $43,368 $50,090 $52,595 $57,985 IAF-Adaptive Volleyball $12,500 $15,000 $17,325 $18,191 $20,056 IAF-Adaptive Rugby $3,900 $4,680 $5,405 $5,676 $6,257 IAF-Power Soccer $9,750 $12,000 $13,860 $14,553 $16,045 IAF- Adaptive Tournaments $14,488 $29,588 $31,568 $40,340 $51,248 IAF-Track $57,813 $69,375 $80,128 $84,135 $92,758 IAF-Basketball $144,567 $173,480 $200,370 $210,388 $231,953 IAF-Volleyball $252,780 $291,069 $336,185 $352,994 $389,176 IAF-Court Rental $19,788 $21,766 $23,997 $23,997 $25,197 IAF-Aquatics $284,172 $312,589 $361,041 $379,093 $417,950 IAF-Sports Performance $67,500 $81,000 $93,555 $98,233 $103,144 IAF-Rock Wall $37,900 $41,690 $48,152 $50,560 $55,742 IAF-Birthday Parties $18,000 $21,600 $24,948 $26,195 $28,880 IAF-Corporate and Group Events $14,200 $17,750 $23,430 $25,773 $29,768 IAF-Youth Programs $81,125 $89,238 $103,069 $108,223 $119,316 IAF-Secondary Areas $75,000 $18,000 $18,900 $19,845 $20,837 IAF-Food & Beverage $329,717 $317,352 $333,220 $349,881 $367,375 Total Revenue $2,357,551 $2,785,496 $3,257,732 $3,497,136 $3,820,644

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GOVERNANCE & MANAGEMENT TEAM

The Ability Center As a 501(c)(3) charitable, nonprofit organization, A.F.A.R., Inc. (d/b/a The Ability Center), will operate under the guidance of its Board of Directors and its Executive Director/Founder, Damian Buchman (pictured to the right). Its A.F.A.R. acronym identifies the exact services TAC will provide; Adaptive Fitness, Athletics, and Recreation.

Founded in November of 2008, TAC is currently governed by 11 Board Members and seven Advisory Board Members as of calendar year 2014. A listing of these members is provided below:

Board of Directors

Nicholas Stroud (Board President) Dr. Diane Braza, MD Program Manager, North America Marketing Physical Medicine & Rehabilitation, Chair ManpowerGroup MCW/Froedtert Hospital

Debbie Schiel (Vice President) David Cooks Peer Visitor Director of Diversity Amputee Empowerment Partners Marquette University High School Troy Marine, CPA (Treasurer) Lynda Kohler Senior Manager, Not for Profit Executive Director Baker Tilly SHARP Literacy

Kristin Hinkel (Secretary) Jennifer Mellone Project Manager US Naval Academy Graduate 7 Summits Navy Veteran

Eric Barber Denise Ott Human Resources Adaptive Athletics Enthusiast US Paralympian Disabled Veterans

Eric Bolander Real Estate Attorney Godfrey & Kahn Advisory Board

Jill Didier Greg Kliebhan Government Relations Senior Vice President, Retired SAS Marquette University

Clay Feller Christi Murn President/Creative Director President Feller Design, Inc. Murn & Associates, Inc.

Ed Haydin, AIA Thomas Windsor Principal Executive Vice President Arcint-Architecture SysLogic

John Hinkel Director of Examinations, Retired Wisconsin Department of Financial Institutions

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CORPORATE PARTNERS As a project, TAC has attracted some of Wisconsin’s most significant builders, designers, engineers, and more for their “Program Management Team.” Led by Miron Construction Co., Inc., TAC’s Program Management Team have collectively contributed more than $250,000 of in- kind services. The team includes:

TAC has also recruited national leaders in the fitness, medical, and adaptive industry. Having contributed nearly $100,000 of in-kind services, equipment, and capital to date, the following companies are anxious to innovate with TAC.

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The Sports Facilities Advisory The Ability Center engaged The Sports Facilities Advisory (SFA) to contribute third-party financial and feasibility analysis and expertise for this unique indoor sports and recreation facility. Operated by a team of accomplished sports facility operators, business advisors, league sports experts, corporate team development professionals, and facility design professionals; SFA is a full-service consultancy firm specializing in the planning, opening, and managing of sports and recreation facilities of all sizes and scope. SFA assists clients in evaluating opportunities, developing new sport and recreation facilities – from community centers to sports tourism destinations and professional-level training and competition facilities – and managing or optimizing existing operations. SFA’s work encompasses multisport and multipurpose centers, performance training facilities, health/fitness centers, aquatic facilities, and outdoor complexes.

SFA was founded in 2003 to respond to the demand for professional planning as well as financial and management services in the youth and amateur sports market. SFA currently provides management oversight for numerous multipurpose facilities across the U.S.

A true differentiator for SFA in the sports facilities industry is the depth of our team and the breadth of our experience and expertise. SFA boasts the most recognized and esteemed staff of sports business professionals and experts in this industry. Widely regarded as innovators and leaders in youth/amateur sports planning and management, our team is driven by our commitment to developing facilities that positively impact communities and families. The SFA staff includes sports commissioners, successful sports and youth development entrepreneurs, multiple MBA’s, seasoned operations and programming experts, and experienced accountants and business analysts. SFA recruits talent from top organizations. In fact, our consultants have been advisers to such notable clientele as Sony Pictures, Wyndham Resorts, Cornell University, George Mason University, The Ohio State University, Ritz-Carlton, Nokia, Halliburton, and USAA. We bring this corporate and leadership perspective to our work and in doing so SFA is having a positive impact on the level of excellence throughout the youth and amateur sports industry.

Additionally, our team includes senior-level staff and GM’s who came to SFA from The House of Blues, Downtown Disney, Gaylord Entertainment, Life Time Fitness, Ford Field (Home of the Detroit Lions), the YMCA, the United States Army Special Forces, and the United States Marines, as well as the management and operations of other venues such as theater companies and wineries. We share this diversity with you to demonstrate that while we have significant experience in tournaments, events, leagues, camps, and clinics; our approach grows from a well-rounded background of professional experience both inside and outside of the traditional sports industry.

Since its inception in 2003, the SFA team has consulted on more than 60 operational sport, recreation, and youth leadership centers across the country. SFA has also completed hundreds of financial forecasts and feasibility analyses for projects across the U.S. and internationally. SFA is conservative in its market research and feasibility projections. More than 70% of the projects analyzed by SFA result in a “Feasibility: No” or require significant changes to the original business model, financing structure, or facility design. Additional information can be found at www.sportadvisory.com. The Sports Facilities Advisory, LLC Page 15

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Market Analysis

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MARKET OVERVIEW

A western suburb of Milwaukee, the City of Wauwatosa, WI encompasses a population approaching 46,940 in the city and 947,735 in the county according to the 2010 Census.

Wauwatosa is situated in the most populated county in Wisconsin and a close neighbor to Milwaukee, the most populated city in the state and the 30th largest city in the country according to the 2010 Census. Wauwatosa is minutes from General Mitchell International Airport that serves roughly 400 daily departures and arrivals and is Wisconsin’s largest airport.

Wauwatosa is located in Milwaukee County, which is part of the Milwaukee–Racine–Waukesha metropolitan area (also known as Metro Milwaukee or Greater Milwaukee) which contains the eight southeastern counties of Milwaukee, Waukesha, Racine, Washington, Ozaukee, Dodge, Jefferson, and Walworth .

Milwaukee County is served by numerous major highways and thoroughfares, including but not limited to:  Interstate 43  Interstate 94  Interstate 794  Interstate 894  U.S. Highway 41  U.S. Highway 18  U.S. Highway 45

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FACILITY LOCATION & SITE ACCESSIBILITY

TAC proposes to be located on the Milwaukee Regional Medical Center in Wauwatosa North of Intersate 94 and East of US Highway 45. Above are aerial images of the Greater Milwaukee Area (top left), the region (top right), the local area (bottom left), and the site (bottom right).

The facility’s ideal location is on the campus of the Milwaukee Regional Medical Center. This will be situated just east of U.S. Highway 45 which runs the length of the state entering from Illinois at Pikeville and travels through Land O’Lakes Wisconsin on to Michigan. Directly to the south of TAC’s location runs Interstate 94, connecting Billings, MT to Detroit. Access to Interstate 43 can be found to the east of the interstate that runs north and south within the state connecting to Interstates 39 and 90 and US Routes 41 and 141. Finally, running directly to the west of Wauwatosa is Interstate 894 that runs north and south and allows travelers to bypass Milwaukee via Interstate 43 and connects to US Highway 45 to the north. As such, the location of TAC will provide for accessibility to/from various areas in the state and region including major commerce areas of Milwaukee, Madison, Sheboygan and Green Bay, among others.

For larger tournaments and events, TAC’s close proximity to Mitchell International Airport (within 30 minutes) will prove convenient for athletes, families, and teams traveling from outside the region. Mitchell International Airport is Wisconsin’s largest airport and serves approximately 400 daily departures and arrivals and serves roughly 50 cities non-stop. For facilities such as TAC that will host tournaments and events, this accessibility is crucial for facility sustainability, as is proximity to major hotels, retail, and dining establishments.

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MARKET DEMOGRAPHIC CHARACTERISTICS

Typically, for a youth and amateur sports and recreation facility, SFA utilizes a target market drivetime area of 30 minutes. This is based on industry statistics that patrons are willing to spend one-third of their length of stay at the facility in the car each direction. So, using the assumptions of 15 minutes for warm-up, 1 hour for training or competition, and 15 minutes post training/competition; that totals 90 minutes at TAC. This means that patrons would be willing to drive 30 minutes one way to and from Key Demographic Factors the facility. When analyzing particularly Immediate Local dense markets, this drivetime is reduced; Category Trade Area Trade Area and when analyzing more rural markets, (within 15 min) (within 30 min) this drivetime is expanded. Total Population 472,932 1,298,434 % of Population 24-under 14.5% 14.2% Because of the unique elements and % of Population 25-54 41.4% 41.1% 5 Year Projected service targets for TAC, drivetimes for 0.17% 1.19% Population Growth able-bodied competition remain at 30 Median Age 34.57 35.89 minutes but demographics for the (U.S. = 37.08) disabled population are listed separately. Median Household Income $44,528 $49,333 SFA acknowledges that due to the lack of (U.S. = $53,679) Average Expenditure: facilities in the area specifically designed $2,223 $2,376 Entertainment to serve the needs of those with Average Expenditure: Rec $89 $97 disabilities that this will increase the Equipment and Supplies radius from which the facility can draw. * SFA Feasibility Report on DemographicsNow.

The population and density for the market surrounding TAC are strong in comparison to like- sized multi-sport facilities. There is a large population of ideal customers within the target 15- minute drivetime, as well as within 30 minutes. However, income and spending levels are below national averages.

The maps illustrate the 15- and 30-minute drivetimes overlying population density (left) and median household income (right). As illustrated, the Milwaukee local area in particular exhibits very high population density and median household income levels.

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Using data from the 2012 American Community Survey (ACS), a closer look at population of those with disabilities in the state of Wisconsin is seen below:

Source: Disabilitystatistics.org (2012)

As seen in the data listed in this table there is a significant number of children and adults within the service area of TAC with disabilities. In accordance with TAC’s mission to provide an accessible, affordable inclusive facility for those with disabilities to come to enjoy fitness, recreation and competitive programming, TAC has chosen an ideal location for serving this mission. Located in Milwaukee County, TAC will be operating in the most densely populated county in the state and according to disabilityplanningdata.com has 102,340 households that have members with a disability, or 27% of the 379,360 households in the county.

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EXISTING PROVIDER ANALYSIS

The Ability Center has identified a deficiency in accessible offerings and facilities in the area and aims to differentiate itself from other providers by offering a truly all-inclusive wellness, athletics, and recreation opportunity for all. There are numerous ways in which TAC attempts to achieve this goal such as offering the most accessible cardio and strength equipment of any facility in the area, offering the only 200M indoor track in Milwaukee County, fully accessible aquatics areas, and a multitude of sport and fitness offerings for those with disabilities. Furthermore, TAC will provide the largest number of basketball and volleyball courts in the area and enhance its ability to attract basketball and volleyball tournaments in the area as well as provide court space for local leagues, both adaptive and able-bodied. Analysis of both national facilities and local providers are listed below.

NATIONAL ANALYSIS While TAC’s mission is unique to itself, there are other national organizations that have made fitness and sport offerings for those with disabilities a priority in their business models. A breakdown of two notable national facilities is listed below:

1. The Courage Center – Located in Minneapolis, Minnesota the Courage Center aims to provide a variety of fitness, therapy and rehab offerings to those with disabilities and complex health conditions. The center provides access to medical facilities and physical therapy offerings as well as warm-water pools and adaptive fitness centers geared for both the able bodied and those with disabilities. In addition to these offerings, the Courage Center offers a variety of adaptive sport programs including curling, hand-cycling, power soccer, wheelchair basketball, wheelchair rugby, wheelchair softball, Nordic skiing, golf and archery; among others.

SFA Analysis The Courage Center offers opportunities for those with disabilities in the fitness and recreational space, community services, and medical treatment options. In speaking with representatives from The Courage Center, SFA gained a thorough understanding of the expansive adaptive sport offerings through the center with over 19 different sport programs as of 2014. The Center also does an effective job of connecting with and forming partnerships with local and regional organizations to expand its reach and offerings.

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2. The Lakeshore Foundation – Located in Birmingham, Alabama and situated on a 45 acre campus the facilities offers the following amenities:  Aquatics center with 2 pools  3 Full Size Basketball Courts  200M Mondo surface indoor track  7 lane marksmanship range  6,000 sq-ft. Fitness Center  Climbing Wall  8 lighted championship tennis courts  Athletic Dormitory  Research Laboratory

The campus utilizes over 100 full and part time staff to operate the above facilities and has served as an official U.S. Olympic & Paralympic training site as well as the home of USA Wheelchair Rugby. Their mission aims “To enable people with physical disability and chronic health conditions to lead healthy, active and independent lifestyles through physical activity, sport, recreation and research”. It is also notable that the Lakeshore Foundation serves the state (Alabama) with the largest percent of people with disabilities between the ages of 21-64 at 15.5% according a 2012 survey reported by disabilitystatistics.org.

SFA Analysis The Lakeshore Foundation offers opportunities for those with disabilities in sports and fitness with a variety of sport and program offerings. In speaking with representatives from The Lakeshore Foundation, SFA gained a thorough understanding of the range of adaptive sport offerings through the center ranging from light recreational programs to highly competitive leagues including Olympic and Paralympic Training taking place at the center.

SUMMARY OF EXISTING NATIONAL SERVICE PROVIDERS SFA had the privilege of speaking with representatives of both The Courage Center and The Lakeshore Foundation to gain a further understanding of operations with similar goals to that of TAC on a national level. Based on the programming elements provided in both of those facilities, the feedback obtained from these facilities on challenges and opportunities that accompany adaptive programming, SFA was able to identify numerous areas of focus for TAC’s operations. In addition to these evaluations, a thorough understanding of these like national facilities reveals TAC’s offerings for its region to be comparable in nature to these facilities with similar inclusive missions.

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LOCAL ANALYSIS Existing provider research revealed that, although numerous athletic, recreation, and fitness facilities exist in the local market, there are no facilities that cater specifically to those with disabilities and provide a truly all-inclusive and accessible sports and recreation opportunity. The Ability Center (TAC) will differentiate itself by providing a premier destination for indoor sports, fitness, track, and aquatics activities paired with quality amenities and programming for leagues, tournaments, camps, and instruction. While no other facility in the area will have the level or amount of adaptive equipment or programming in the area, local competition does impact TAC’s ability to draw from the local and regional able-bodied market. In order to determine the market share that TAC can expect to capture, SFA performed an in-depth analysis of the local providers. That analysis is based on the following factors: • Proximity to existing providers • Membership and Program Pricing • Programs relative to existing providers • Facility quality, pool quality, aesthetics • Amenities and ancillary services offered

Fitness and Athletic facilities in the Wauwatosa/Milwaukee area include but are not limited to: • Wisconsin Athletic Club (Wauwatosa): • Center Court Sports Complex Fitness facility with 25-yard lap pool, 16- (Waukesha): 50,000 square foot facility yard exercise pool, full indoor basketball with 5 Full BKB Courts, 8 VB Courts and court 9 Outdoor Sand VB Courts • Snap Fitness (Wauwatosa & Elm Grove): • David Schulz Aquatic Center: Family Fitness only aquatics park with lazy river, lap pool • Fitness 19 (West Allis): Fitness only and diving well • Wisconsin Athletic Club (West Allis): • LA Fitness (Glendale): Fitness facility Fitness facility with racquetball courts, with group exercise areas, 1 full indoor exercise pool BKB court, lap pool, spa and sauna • Milwaukee YMCA (10 area Locations) • Milwaukee JCC: Fitness facility, 2 full • Highlander Elite Sports Club size BKB courts, indoor walking track & (Brookfield): Fitness Facility with full aquatics center with lap pool, spa BKB court, racquetball courts, 10 tennis • Milwaukee County Sports Complex courts (8 indoor, 2 outdoor), indoor 25- (Franklin): Full BKB Court, 4 Indoor Turf yard lap pool, outdoor 25-yard pool, fields, 4 VB Courts (sport-court), indoor sauna and whirlpool. batting cages • Anytime Fitness (West Allis): Fitness only • West Wood Health & Fitness Center • Gold’s Gym: Fitness Facility with group (Pewaukee): 2 BKB Courts, fitness, indoor exercise rooms and half BKB court track, 50M pool, spa, pro shop • MSOE’s Kern Center: On Milwaukee • Princeton Club (New Berlin): Fitness School of Engineering’s Campus; 210,000 sf facility with 50m pool, lazy river and aqua fitness facility with indoor track, full BKB recreation, 12 tennis courts (6 indoor, 6 court and ice arena; open to MOSE outdoor), Racquetball Courts, BKB Courts staff/students and general public for • Sturtevant Sportsplex: 109,000 sf facility membership. with two indoor 190' x 85' turf fields and 3 full sized BKB courts

As previously mentioned these facilities in the Milwaukee Area do not provide the adaptive amenities nor programming which would provide direct competition to TAC for its adaptive offerings. However, these facilities are to be considered as competition for all able-bodied court, aquatics, and fitness programming. A map of competitors is listed on the following page.

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Based on the programming model and # Facility Name # Facility Name proximity, TAC must consider nine existing 1 Wisconsin Athletic Club (Wauwatosa) 5 Southwest Suburban Branch YMCA facilities (all that fall within a 30 minute 2 Wisconsin Athletic Club (West Allis) 6 Center Court Sports Complex drivetime) as direct competitors. Other 7 3 West Suburban YMCA 6 7 Milwaukee Jewish Community Center indoor facilities exist in the region; however, 4 4 Highlander Elite Sports Club6 8 Princeton Club for the business model and target market 3 2 being considered for TAC, only those 5 9 West Wood Health Club facilities within a 30-minute drivetime with multiple programming offerings (not just fitness) are included4 in the map here. [Note: TAC’s location is notated by the green marker.] An analysis of each of these competitors is listed1 on the pages that follow. 8 9 The Sports Facilities Advisory, LLC Page 24

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1. Wisconsin Athletic Club (WAC) – Wauwatosa Positioned 2 minutes from the proposed TAC location, the Wisconsin Athletic Club (WAC) is a 46,000 SF indoor fitness and recreation facility with 1 basketball court, 25- yard lap pool, 16-yard exercise pool, and fitness amenities. With a primary focus on fitness, this club boasts a full fitness floor with a range of equipment as well as group exercise rooms and locker rooms for its members. WAC offers a variety of personal training, group exercise classes, swimming lessons, and court sports programming. Locker rooms are outfitted with private lockers, showers, and sauna/steam rooms. Other amenities include childcare, children’s programming, tanning, nutrition services, complimentary WiFi, and complimentary morning coffee & newspaper.

SFA Analysis The WAC-Wauwatosa is the closest fitness and recreation competitor from TAC’s proposed location. Due to its proximity and like amenities this will be a significant competitor to TAC. The facility is very limited in its accessible equipment offerings with only a handful of adaptive fitness machines.

2. Wisconsin Athletic Club (WAC) – West Allis This is the second of the two WAC locations that fall within a 10 minute drivetime of TAC’s location. Of the WAC’s 7 locations in the area, all boast different sets of amenities but carry the same emphasis on fitness and locker rooms with amenities and comforts. This location – open 24 hours – opened in 1976 and is known for its extensive racquetball offerings and the West Allis Club Pub, a courtside full service bar with food, complimentary Wi-Fi, and large TV’s. The facility carries the same fitness and locker room amenities as the Wauwatosa location, but also offers 2 indoor pools, 2 outdoor pools and a whirlpool. Programming offerings are comparable to the Wauwatosa location.

SFA Analysis Of WAC’s 7 area locations, 2 fall within a 10-minute drivetime of TAC’s proposed location (Wauwatosa & West Allis). This facility will also be considered a direct competitor to TAC, and, like its other location, this location has limited availability of adaptive equipment.

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3. West Suburban YMCA This is the closest YMCA location at a 9-minute drivetime from TAC’s proposed location. This YMCA has 1 basketball court, 2 volleyball courts, fitness area, a 25-yard lap pool, exercise pool, and indoor and outdoor running/walking tracks. In addition to these amenities, this location offers racquetball courts, a child watch area, locker rooms, and a sauna and steam room. Personal training, towel and laundry services, and both youth and adult programming are offered.

SFA Analysis The YMCA network in the Milwaukee area encompasses 10 locations. This YMCA also offers an array of aquatics programming including adaptive swim lessons. Within a 10-minute drivetime this facility will be a direct competitor to TAC. Even though select adaptive programming is offered, adaptive fitness equipment is limited.

4. Highlander Elite Sports Club Located 9 minutes from TAC’s proposed location, this facility features the following:  8 indoor tennis courts  2 outdoor clay tennis courts  2 racquetball courts  Full Basketball/Volleyball Court  Fitness and Group Exercise Areas, indoor/outdoor, ping pong, yoga, fitness area

In addition to fitness membership offerings, this facility also offers an array of sport programming with adult and youth leagues. Personal training, small group training and group exercise are also offered.

SFA Analysis One of 5 locations in the Elite Club Sports Club network in the area, this Brookfield location (like other Elite Sports Club locations) positions itself at the high end of the market with a $400- $600 initiation fee and membership fees ranging from $99/month and up. This location offers additional amenities such as laundry service and childcare included in the membership costs. This location and the Elite Sport Club model certainly targets the higher segment of the market. Adaptive equipment is limited but the fitness area is spaced well to provide for better circulation space for those with disabilities. An elevator also is available for transportation between floors.

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5. Southwest Suburban Branch YMCA Situated 11 minutes away from the proposed TAC location, this YMCA – with programming, offerings, and membership fees similar to that of the West Suburban YMCA – features a full indoor basketball court, a walking/jogging track, a lap pool, an exercise pool, a fitness area, a child watch area, group exercise rooms, and locker rooms.

SFA Analysis This YMCA contains similar amenities to the West Suburban location and is a fitness and recreation competitor. This location offers an array of aquatics programming including adaptive swim lessons but has a limited amount of adaptive fitness equipment.

6. Center Court Sports Complex Center Court Sports Complex, situated 18 minutes from the proposed TAC location, is a 50,000 square foot court based basketball and volleyball facility. With 5 full basketball courts and 8 volleyball courts Center Court offers the largest indoor court area in the immediate drivetime of TAC. In addition to its indoor offerings, Center Court also offers 9 outdoor sand volleyball courts with a patio restaurant.

SFA Analysis This facility is the major court sport competitor in the region and hosts a large amount of court programming ranging from youth and adult volleyball and basketball leagues. However, it does not appear there are many, if any, adaptive programming offerings. This facility will be the primary competitor for TAC’s able-bodied, court-based programming.

7. Milwaukee Jewish Community Center The Milwaukee JCC is a 20-minute drive from TAC’s proposed location. It is a faith-based fitness and recreation center that has a full size indoor basketball court with an elevated walking/jogging track, fitness area and lap pool with wheelchair ramp, exercise pool, and locker rooms. The facility also features group exercise rooms and a variety of youth/adult fitness and recreation programming, as well as faith-based programming.

SFA Analysis Due to its faith-based nature, this facility targets a smaller demographic within the target population. For this reason, this facility is an indirect competitor to TAC. Adaptive fitness equipment is limited but pools are accessible with wheelchair ramps installed.

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8. Princeton Club Situated 17 minutes from the proposed TAC location, this facility offers the following: • 1 Full Basketball Court • Racquetball Courts • 6 Indoor Tennis Courts • 6 Outdoor Tennis Courts • Cross-Fit Training Area • Fitness area • Lap Pool, Resistance Training Pool, Whirlpool • Locker Rooms • In house Café restaurant and seating area • Subway sandwich shop

In addition to the areas offered above, the facility is open 24 hours and offers free childcare included with a membership. Personal training and group fitness are offered as well as aquatics programming. Court-based programs, racquetball leagues and tennis (indoor and outdoor) programming are also offered.

SFA Analysis This facility contains the largest number of tennis courts among listed competitors along with a specific cross-fit training area. Integration of a café and food options are an amenity to those that visit the facility. Adaptive equipment is limited but circulation space is ample.

9. West Wood Health and Fitness Center Situated 21 minutes away from TAC’s proposed location, this club features the following: • 1 Full Basketball Court • Racquetball courts • 50M pool • Therapy Pool • Fitness area • In house café • Pro Shop • Indoor • Child watch area • Group fitness rooms walking/running track • Full service spa • Locker Rooms

West Wood Health and Fitness Center is a bustling fitness center owned by Pro Health Care that serves Waukesha County and the surrounding communities. In addition to offering related services to the program areas above, the center offers personal/group training, racquetball leagues and an assortment of other programming.

SFA Analysis This fitness and recreation facility, approximately 21 minutes away from TAC, is limited in its ability to compete with fitness elements of TAC. They do, however, offer some programs for those with disabilities such as chair yoga and specialized aquatics classes which may have a regional impact. The Sports Facilities Advisory, LLC Page 28

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SUMMARY OF EXISTING LOCAL SERVICE PROVIDERS Due to the uniqueness of The Ability Center (TAC) there is no “all-in-one” direct competitor to the facility within the Milwaukee region. As seen from the list of competitors above, there are numerous facilities that offer similar programming to that being proposed by TAC such as fitness, court, aquatics, and track. However, as we have noted in each facility’s summary, their adaptive offerings are limited and circulation space in the facilities is often an issue. Therefore, TAC has the ability to be the sector leader in adaptive fitness and recreation offerings in in the region.

For able-bodied sports and recreation there are a number of competitors in the surrounding market. As noted in the facility descriptions above, there is a diverse assortment of recreation and fitness offerings. There are five fitness facilities within a 10-minute drivetime of TAC, most notably the two Wisconsin Athletic Club locations and the West Suburban YMCA; all three of which offer fitness equipment and workout areas along with personal training and group exercise offerings. These five facilities within 10 minutes – including three that provide similar program offerings – make pricing TAC’s programs important.

Based on the market research, TAC will provide the largest number of basketball and volleyball courts in the area. This will provide TAC the opportunity to attract basketball and volleyball tournaments in the area as well as court space for local leagues, both adaptive and able-bodied. TAC’s main competitor in terms of court-based programming will be Center Court (18 minutes away) with its 5 basketball courts and 8 volleyball courts. Other facilities such as WAC and the YMCA’s will be direct able-bodied fitness and recreation competitors. Furthermore, the majority of the nine locations listed above have some variation of aquatics operations ranging from lap pools, therapy pools, whirlpools and lazy rivers.

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Financial Analysis

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REVIEW OF FINANCIAL PROJECTIONS

SFA’s determination of feasibility for this project depends on the financial forecast of the business and its ability to achieve results that support long-term sustainability.

In creating a financial forecast, SFA intentionally projects numbers that are dependent on timely marketing, attention to detail, ongoing financial analysis, a focus on customer service, and intelligent management practices that do not rely on unlikely circumstances or unreliable sources of revenue to achieve. If assessed on a 1-10 scale where 1 represents a scenario in which the numbers are virtually guaranteed as long as the facility opens its doors and 10 represents a scenario in which every revenue stream relies on a best-case blend of timing and circumstance, SFA aims to create a forecast that would fall between a 4 and a 5.

In order to project the financial performance of TAC, SFA completed three (3) project phases to arrive at our determination of feasibility. Those phases were:

 Phase I: Market analysis, formal strategic planning session, and delivery of a summary report encompassing the mission and vision of TAC, the goals for the project and the founding team, and the core competencies of TAC  Phase II: On-site stakeholder/user groups interviews, site tours, and competitor analysis  Phase III: Completion of the full Pro Forma and Feasibility Study

Through completion of the phases described above, the following table shows the summary income statement produced by SFA. These numbers fall into the 4-5 range on the 1-10 scale described above, and they provide a conservative baseline for assessing feasibility.

Revenue Year 1 Year 2 Year 3 Year 4 Year 5 Total Revenue $2,357,551 $2,785,496 $3,257,732 $3,497,136 $3,820,644

Expenses Year 1 Year 2 Year 3 Year 4 Year 5 Total Cost of Goods Sold $982,735 $1,147,095 $1,325,648 $1,446,646 $1,566,761

Gross Margin $1,374,816 $1,638,401 $1,932,084 $2,050,490 $2,253,883 % of Revenue 58% 59% 59% 59% 59%

EBITDA ($293,393) ($55,227) $197,958 $280,288 $441,010 % of Revenue -12% -2% 6% 8% 12% Debt Service

Total Net Income ($293,393) ($55,227) $197,958 $280,288 $441,010

The SFA financial forecast projects cash flow to become positive in Year 3 and produce a five- year cumulative EBITDA of $570,636. Under the assumption TAC is able to raise the $50M required for capital and operational subsidies in Years 1-3, this project earns a “Feasibility: Yes” based on its ability to accommodate TAC’s programs, provide opportunities to grow new programs, and achieve self-sustainability within the first five years of operations. The Sports Facilities Advisory, LLC Page 31

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PROGRAMMING REVENUES & EXPENSES The overall operating budget is generally a component of the overall service philosophy of the facility’s primary purpose. The following revenues and expenses are based on actual results of comparable facilities, existing programs, market research, and industry leading practices utilizing proprietary forecasting formulas. To meet the following projections, SFA and TAC recognize that the facility must:

1. Implement a mix of program elements that generate revenue, while attracting a wide range of age groups to accommodate the needs of families, children, teens, and adults, as well as varying levels of competition. The programming will be targeted to maximize court competition and training activities during peak times and secondary markets (adults, seniors, corporations, etc.) during non-peak times. 2. Engage adaptive athletic and recreation groups to rent TAC’s space for these groups to run adaptive programming which complements TAC’s in-house adaptive offerings. 3. Implement a strong marketing plan while leveraging the existing program alliances and partner customer base that includes proper pricing points, operating hours, and an aggressive rollout and community outreach campaign, as well as continual brand development and industry-leading tactics to attract users post opening. 4. Employ a strong leadership team, which can plan and meet the goals of the facility and take the right actions to attract users to the facility, sustain current members post- opening, increase members and revenue-generating events, and effectively manage the day-to-day operation. 5. Raise $50M in funds without debt.

With success in each of those five areas, TAC can expect to achieve the revenue and expense projections outlined in the table below.

SFA’s complete five-year cash flow projection is included on the following pages.

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Indoor Facility Revenue & Expenses- OPS LLC

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Expenses Year 1 Year 2 Year 3 Year 4 Year 5 Tournament Revenue Basketball Tournaments $7,842 $23,217 $25,233 $35,721 $43,800 Basketball Rental Tournaments $4,639 $4,639 $5,707 $2,409 $3,364 Volleyball Tournaments $0 $9,878 $33,054 $59,565 $62,139 Volleyball Rental Tournaments $11,499 $10,313 $9,554 $9,669 $9,748 Indoor Rental Events $1,625 $2,150 $4,545 $4,840 $5,571 Hotel Rebates $0 $0 $0 $0 $0 Food & Beverage $70,883 $94,286 $121,592 $141,746 $147,924 Retail $19,625 $28,220 $37,793 $43,953 $45,996 Local Usage Revenue IAF-Memberships and Scholarships $234,685 $289,377 $322,570 $337,442 $365,114 IAF-Adaptive Baseball/Softball $6,218 $6,733 $7,777 $8,166 $9,003 IAF-Adaptive Basketball $19,177 $21,278 $23,508 $24,683 $26,624 IAF-Adaptive Volleyball $7,035 $7,842 $8,533 $8,960 $9,589 IAF-Adaptive Rugby $2,337 $2,617 $2,841 $2,983 $3,189 IAF-Power Soccer $3,683 $4,008 $4,448 $4,670 $5,049 IAF- Adaptive Tournaments $8,589 $16,639 $18,025 $23,330 $29,608 IAF-Track $12,313 $14,775 $17,065 $17,918 $19,755 IAF-Basketball $68,979 $73,667 $79,747 $83,734 $89,374 IAF-Volleyball $123,672 $126,348 $136,242 $143,054 $152,375 IAF-Court Rental $989 $1,088 $1,200 $1,200 $1,260 IAF-Aquatics $66,917 $82,697 $112,260 $120,628 $143,293 IAF-Sports Performance $35,850 $43,020 $49,688 $52,173 $54,781 IAF-Rock Wall $14,145 $13,892 $15,879 $16,673 $18,290 IAF-Birthday Parties $8,100 $9,720 $10,864 $11,407 $12,376 IAF-Corporate and Group Events $5,680 $6,788 $8,535 $9,284 $10,529 IAF-Youth Programs $21,687 $23,856 $27,438 $28,810 $31,699 IAF-Secondary Areas $15,000 $18,000 $18,900 $19,845 $20,837 IAF-Food & Beverage $211,568 $212,049 $222,652 $233,784 $245,473 Total Cost of Goods Sold $982,735 $1,147,095 $1,325,648 $1,446,646 $1,566,761

Gross Margin $1,374,816 $1,638,401 $1,932,084 $2,050,490 $2,253,883 % of Revenue 58% 59% 59% 59% 59%

EBITDA ($293,393) ($55,227) $197,958 $280,288 $441,010 % of Revenue -12% -2% 6% 8% 12% Debt Service

Total Net Income ($293,393) ($55,227) $197,958 $280,288 $441,010

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Indoor Building Expense Mgmt. Assump. Year 1 Year 2 Year 3 Year 4 Year 5 Alarm System Maintenance $5,000 $5,150 $5,305 $5,464 $5,628 Facility Maintenance & Cleaning Expense $0.75/SF $171,727 $176,879 $182,186 $187,651 $193,281 Facility/Medical Supplies $10,000 $10,300 $10,609 $10,927 $11,255 Lawn/Snow Care $1000/Mo $12,000 $12,360 $12,731 $13,113 $13,506 Maint. & Repairs $.50/SF $114,485 $117,920 $121,457 $125,101 $128,854 Utility Expense - Aquatics $7.50/SF $108,375 $111,626 $114,975 $118,424 $121,977 Utility Expense - Dry Areas $1.50/SF $321,780 $331,433 $341,376 $351,618 $362,166 Total Facility Expense $743,367 $765,669 $788,639 $812,298 $836,667

Operating Expenses

Expense Mgmt. Assump. Year 1 Year 2 Year 3 Year 4 Year 5 Accounting Fees $10,000 $10,300 $10,609 $10,927 $11,255 Bank Service Charges Misc Banking Fees $6,800 $7,004 $7,214 $7,431 $7,653 Communications Phone/Cable $7,500 $7,725 $7,957 $8,195 $8,441 Consulting Fees Asset Management $120,000 $102,000 $90,000 $78,000 $66,000 Consultant Travel $18,000 $12,000 $8,000 $8,240 $8,487 Credit Card Expense 50% of Sales (3% fee) $35,363 $41,782 $48,866 $52,457 $57,310 Dues and Subscriptions Magazines/Publications $1,500 $1,545 $1,591 $1,639 $1,688 Employee Uniforms $8,000 $4,000 $4,120 $4,244 $4,371 Exchange Expense $0 $0 $0 $0 $0 General Advertising $75,000 $77,250 $79,568 $81,955 $84,413 Insurance-Property $3,000/month $36,000 $37,080 $38,192 $39,338 $40,518 Insurance-Liability $3,400/month $40,800 $42,024 $43,285 $44,583 $45,921 Insurance-Workman's Comp $1.46 per $100 of payroll $12,439 $12,812 $13,196 $13,592 $14,000 Interest Expense $0 $0 $0 $0 $0 Legal Fees $9,000 $9,270 $9,548 $9,835 $10,130 Licenses, Permits Food Licenses, etc. $5,000 $5,150 $5,305 $5,464 $5,628 Office Supplies office and cleaning $12,000 $12,360 $12,731 $13,113 $13,506 Photocopier Lease $4,800 $4,944 $5,092 $5,245 $5,402 Postage & Freight $4,500 $4,635 $4,774 $4,917 $5,065 Real Estate Tax *Subject to TAC's tax designation $0 $0 $0 $0 $0 Software- Facility Management Online Scheduling Software $10,000 $10,300 $10,609 $10,927 $11,255 Software- Office MS Office $5,000 $5,150 $5,305 $5,464 $5,628 Travel and Entertainment $7,500 $7,725 $7,957 $8,195 $8,441 Total Operating Expenses $429,202 $415,056 $413,918 $413,761 $415,112

Management Payroll Summary

Management Position Mgmt. Assump. Year 1 Year 2 Year 3 Year 4 Year 5 General Manager/CEO $80,000 $81,600 $83,232 $84,897 $86,595 Director of Operations $45,000 $45,900 $46,818 $47,754 $48,709 Marketing & Business Development Director $45,000 $45,900 $46,818 $47,754 $48,709 Adaptive Sports Director $45,000 $45,900 $46,818 $47,754 $48,709 Facility Manager $35,000 $35,700 $36,414 $37,142 $37,885 Office Manager/Bookkeeper $30,000 $30,600 $31,212 $31,836 $32,473 Admin 120 hours/wk at $10 $60,000 $61,200 $62,424 $63,672 $64,946 Total Management Payroll $340,000 $346,800 $353,736 $360,811 $368,027

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Payroll Summary

Total Payroll Summary Mgmt. Assump Pre-Open Year 1 Year 2 Year 3 Year 4 Year 5 Mgmt General Manager/CEO 6 months prior $40,000 $80,000 $81,600 $83,232 $84,897 $86,595 Mgmt Director of Operations 6 months prior $22,500 $45,000 $45,900 $46,818 $47,754 $48,709 Mgmt Marketing & Business Development Director 6 months prior $22,500 $45,000 $45,900 $46,818 $47,754 $48,709 Mgmt Adaptive Sports Director 3 months prior $22,500 $45,000 $45,900 $46,818 $47,754 $48,709 Mgmt Facility Manager 3 months prior $8,750 $35,000 $35,700 $36,414 $37,142 $37,885 Mgmt Office Manager/Bookkeeper 3 months prior $7,500 $30,000 $30,600 $31,212 $31,836 $32,473 Mgmt Admin 3 months prior $15,000 $60,000 $61,200 $62,424 $63,672 $64,946 Subtotal Management Payroll $138,750 $340,000 $346,800 $353,736 $360,811 $368,027 Director Basketball Tournament Director 3 months prior $240 $960 $2,880 $3,168 $4,488 $5,544 Director Volleyball Tournament Director 3 months prior $0 $0 $1,260 $4,356 $7,920 $8,316 Director IAF-Basketball Management Allotment 3 months prior $3,614 $14,457 $15,180 $15,939 $16,735 $17,572 Director IAF-Volleyball Management Allotment 3 months prior $6,320 $25,278 $26,542 $27,869 $29,262 $30,726 Director IAF-Aquatics Management Allotment 3 months prior $11,250 $45,000 $46,350 $47,741 $49,173 $50,648 Director IAF-Sports Performance Management Allotment 3 months prior $1,688 $6,750 $8,100 $9,356 $9,823 $10,314 Director IAF-Rock Wall Management Allotment 3 months prior $948 $3,790 $4,169 $4,815 $5,056 $5,574 Director IAF-Birthday Party Management Allotment 3 months prior $450 $1,800 $2,160 $2,495 $2,620 $2,888 Director IAF-Corporate & Group Events Management Allotment 3 months prior $355 $1,420 $1,775 $2,343 $2,577 $2,977 Director IAF-Youth Programming Management Allotment 3 months prior $2,028 $8,113 $8,924 $10,307 $10,822 $11,932 Subtotal Program Management $26,652 $106,607 $113,199 $120,863 $126,069 $132,631 Staff Basketball Tournament Staff 1 month prior $120 $1,440 $4,320 $4,752 $6,732 $8,316 Staff Basketball Rental Tournament Staff 1 month prior $237 $2,839 $2,839 $3,607 $1,509 $2,164 Staff Volleyball Tournament Staff 1 month prior $0 $0 $1,890 $6,534 $11,880 $12,474 Staff Volleyball Rental Tournament Staff 1 month prior $621 $7,449 $5,513 $5,054 $4,419 $4,498 Staff Indoor Rental Event Staff 1 month prior $92 $1,100 $1,400 $2,970 $3,190 $3,696 Staff Concessions Staff 1 month prior $2,272 $27,263 $36,264 $46,766 $54,518 $56,894 Staff Retail Staff 1 month prior $350 $4,205 $6,047 $8,099 $9,419 $9,856 Staff IAF-Adaptive Baseball/Softball Staff 1 month prior $126 $1,516 $1,819 $2,101 $2,206 $2,433 Staff IAF-Adaptive Basketball Staff 1 month prior $301 $3,614 $4,337 $5,009 $5,259 $5,799 Staff IAF-Adaptive Volleyball/Rugby Staff 1 month prior $33 $390 $468 $541 $568 $626 Staff IAF-Adaptive Rugby Staff 1 month prior $33 $390 $468 $541 $568 $626 Staff IAF-Power Soccer Staff 1 month prior $81 $975 $1,200 $1,386 $1,455 $1,604 Staff IAF-Adaptive Tournament Staff 1 month prior $130 $1,560 $2,970 $3,267 $4,224 $5,371 Staff IAF-Track 1 month prior $723 $8,672 $10,406 $12,019 $12,620 $13,914 Staff IAF-Basketball Staff 1 month prior $602 $7,228 $8,674 $10,018 $10,519 $11,598 Staff IAF-Basketball Tournament Staff 1 month prior $120 $1,440 $4,320 $4,752 $6,732 $8,316 Staff IAF-Basketball Rental Tournament Staff 1 month prior $1,979 $23,747 $23,747 $30,362 $12,684 $18,272 Staff IAF-Volleyball Staff 1 month prior $1,053 $12,639 $14,553 $16,809 $17,650 $19,459 Staff IAF-Court Rental Staff 1 month prior $82 $989 $1,088 $1,200 $1,200 $1,260 Staff IAF-Swimming Staff 1 month prior $7,070 $84,840 $87,385 $90,007 $92,707 $95,488 Staff IAF-Rock Wall Staff 1 month prior $158 $1,895 $2,085 $2,408 $2,528 $2,787 Staff IAF-Birthday Party Staff 1 month prior $240 $2,880 $3,456 $3,629 $3,810 $4,001 Staff IAF-Youth Programming Staff 1 month prior $1,014 $12,169 $13,386 $15,460 $16,233 $17,897 Staff IAF-Concessions Staff 1 month prior $5,724 $68,691 $72,126 $75,732 $79,518 $83,494 Staff Maintenance Staff 1 month prior $14,311 $171,727 $176,879 $182,186 $187,651 $193,281 Subtotal Sport Admin Staff $33,780 $405,363 $429,368 $457,426 $458,133 $486,225 Instructors IAF-Adaptive Baseball/Softball Instructors Per Diem $2,731 $3,277 $3,785 $3,974 $4,381 Instructors IAF-Adaptive Basketball Instructors Per Diem $2,385 $2,862 $3,306 $3,471 $3,827 Instructors Basketball Instructors Per Diem $4,563 $5,476 $6,324 $6,641 $7,321 Instructors Adaptive Basketball Instructors Per Diem $2,385 $2,862 $3,306 $3,471 $3,827 Instructors Volleyball Instructors Per Diem $4,125 $4,950 $5,717 $6,003 $6,618 Instructors Track Instructors Per Diem $750 $900 $1,040 $1,091 $1,203 Instructors IAF-Swimming Instructors Per Diem $40,808 $44,889 $51,847 $54,439 $60,019 Instructors Sports Performance Trainers Per Diem $24,375 $29,250 $33,784 $35,473 $37,247 Instructors Climbing Instructors Per Diem $420 $462 $534 $560 $618 Instructors Corporate & Group Events Instructors Per Diem $2,130 $2,663 $3,515 $3,866 $4,465 Subtotal Instructors (COGS) $84,672 $97,590 $113,155 $118,989 $129,526 Referees Tournament Referees and Officials Per Diem $3,360 $13,860 $24,156 $39,468 $44,352 Trainers Tournament Trainers Per Diem $600 $2,400 $4,350 $7,350 $7,650 Referees Adaptive Basketball Officials Per Diem $8,480 $10,176 $10,685 $11,219 $11,780 Referees Adaptive Volleyball Officials Per Diem $4,160 $4,992 $5,242 $5,504 $5,779 Referees Adaptive Rugby Officials Per Diem $1,440 $1,728 $1,814 $1,905 $2,000 Referees Power Soccer Officials Per Diem $1,440 $1,728 $1,814 $1,905 $2,000 Referees Adaptive Tournament Officials Per Diem $3,640 $6,930 $7,623 $9,856 $12,532 Trainers Adaptive Tournament Trainers Per Diem $900 $1,800 $1,800 $2,400 $3,000 Referees Tournament Officials Per Diem $3,360 $13,860 $24,156 $39,468 $44,352 Referees Basketball Officials Per Diem $29,720 $35,664 $37,447 $39,320 $41,286 Referees Volleyball Officials Per Diem $58,880 $65,749 $69,037 $72,489 $76,113 Referees Swimming Official/Coach/Vol. Hospitality Per Diem $900 $990 $1,143 $1,201 $1,324 Subtotal Referee/Trainers (COGS) $112,920 $143,617 $160,762 $185,266 $200,166 Payroll Subtotal $199,182 $1,049,562 $1,130,574 $1,205,943 $1,249,268 $1,316,574 Health Insurance 6 employees @ 500/month $36,000 $37,080 $38,192 $39,338 $40,518 Bonus Pool $23,576 $27,855 $32,577 $34,971 $38,206 Payroll Services $2,400 $2,472 $2,546 $2,623 $2,701 Payroll Taxes 10.00% of payroll (excl refs) $93,664 $98,696 $104,518 $106,400 $111,641 Payroll Taxes/Benefits/Bonus Totals $155,640 $166,103 $177,834 $183,332 $193,067 Total Payroll $1,205,202 $1,296,677 $1,383,777 $1,432,600 $1,509,641 The Sports Facilities Advisory, LLC Page 36

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ECONOMIC IMPACT In addition to contracting SFA’s services, The Ability Center worked with Leib Advisors to develop an economic impact study for the proposed facility. Serving the sports, recreation, and entertainment industries, Leib Advisors specializes in conducting feasibility and market potential analyses, as well as calculating revenue streams, expense, and operations for new and existing facilities. The group also works with clients to plan financing and estimate economic and fiscal impacts to communities.

Based on SFA’s operational forecast, Leib Advisors utilized an input-output economic model. Upon applying a RIMS II multiplier to direct spending, Leib Advisors were able to estimate direct, indirect, and induced economic and fiscal impacts within the Milwaukee Metropolitan Statistical Area (MSA). Below is a summary of the firm’s findings:

Based on the Leib Advisors’ study, The Ability Center will generate over $15 million in economic impact from direct, indirect, and induced spending each year. TAC will generate a cumulative $7.25 million in sales tax from pre-opening through year five of operations and over $1 million in perpetuity. In addition, the facility will create 39 dedicated to internal operations and 204 recurring jobs outside of the facility. In order to construct and develop the facility, 942 one-time jobs and $54.7 million will be generated in the Milwaukee Statistical Area. The Leib Advisors’ complete economic impact study is included on the following pages. The Sports Facilities Advisory, LLC Page 37

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Construction Budget

One-Time and Annual Economic Impact Summary

One-Time Eco. Impact from Construction Annual Eco. Impact from Operations

Payroll and Job Creation

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Economic Impact from Sales Tax

Economic Impact Multiplier Comparisons

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Conclusion

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CONCLUSION & PROFESSIONAL RECOMMENDATION

To assess the likelihood of success for an indoor sports, recreation, and fitness facility in Milwaukee, WI, The Ability Center (TAC) contracted The Sports Facilities Advisory (SFA) to analyze the feasibility and financial viability for the project. The basis for the project is to provide accessible, affordable and inclusive athletic, fitness and recreation programming to children and adults with physical and/or intellectual disabilities in a positive and empowering environment, while focusing on their abilities, not their disabilities. In tandem with this mission, TAC plans to offer able-bodied programs to engage and involve both segments of the community’s population and allow them to come together in one facility. TAC will serve as a community asset by providing access to a wide range of program offerings and through the creation of significant partnerships with local organizations to allow TAC to operate sustainably and expand its reach.

What follows are the professional conclusions, findings, and recommendations for TAC project:

CONTRIBUTORS TO PROJECT SUCCESS For TAC, several positive factors can be found, and these “Contributors to Project Success” are listed below:

 Lack of Accessible Facilities: TAC will become the only fully accessible fitness and recreation facility in the area and will provide substantially more adaptive programming, leagues, tournaments, and other offerings than any other facility in the area for those with disabilities.  Location: The Milwaukee Regional Medical Campus (MRMC) sits on over 300 acres and is home to six medical organizations and approximately 20,500 employees. The campus provides care for more than 430,000 patients that represent over 1.6M annual visits, making this an ideal location for a facility of TAC’s nature. o TAC also received a formal written endorsement from Curt Culver, Chairman & CEO of MGIC, and a member of the Medical College of Wisconsin's, Board of Trustees in June of 2014 backing TAC’s vision and its potential synergies by locating it on the MRMC campus.  Local Partnerships: By leveraging current relationships with user groups and developing additional alliances with groups and organizations in the Milwaukee area, TAC can ensure revenue streams from these groups for facility rentals in its programming areas.  Market Appetite for Court Sports: Based on SFA’s market research, stakeholder interviews, and competitor analysis – as well as demographic data and other metrics – SFA has confirmed that the Milwaukee market has a strong appetite for court-based sports such as Basketball and Volleyball. With the only significant court competitor being 18 minutes away (Center Court) and other facilities such as Wisconsin Athletic Club facilities and local YMCA’s averaging a single court each in their facilities, TAC is positioned to meet the additional demand for court space.

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CHALLENGES TO PROJECT SUCCESS Although TAC has several unique and powerful contributors to success, there are potential challenges that must be recognized and proactively addressed in order to achieve the goals for the facility. SFA has outlined these “Challenges to Project Success” below:

 Existing Service Providers: TAC will feature the highest quality and most accessible court surfaces, fitness facilities, and aquatics spaces along with a focus on proper management and operating systems as well as the establishment and fostering of key alliances and relationships within the local sports community. However, the Milwaukee area features multiple fitness and smaller athletic facilities that offer fitness, training, court and aquatics programming. Despite the presence of a number of indoor sports facilities in the region, SFA feels there is a large enough population and participant base to support existing service providers and still offer a strong opportunity for TAC to enter and succeed in the market. In order to overcome this challenge, the facility must open with the highest level of service, organization, and communication possible in order to create an environment that maximizes the number of people that will participate from the local area and ensures the patronage of regional residents.  Parking: TAC will need to ensure there is ample parking onsite to provide a convenient guest experience. TAC will need to coordinate this effort with the MRMC’s site development plans and potential addition of parking structures.  Fundraising: SFA has projected the development cost of the indoor complex to be approximately $50M. The project’s financing structure will utilize a combination of grants, equity, donations, etc.; there will not be any “debt service.” Project success will ultimately be determined by the founding team’s ability to raise $50M of capital “debt free” for TAC.  Continued Operational Sustainability: Once TAC has exhausted its initial $50M fundraise, able-bodied memberships and programs will need to generate a positive cash flow substantial enough to subsidize adaptive programming offerings for TAC to remain sustainable.

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CONCLUSION, RECOMMENDATIONS, & NEXT STEPS In identifying the positive contributors to success as well as acknowledging the existing challenges listed above, SFA believes this is a viable project. Under the correct financing and development terms, SFA formally endorses the project and deems it to be a “Feasibility: Yes.” The financials, cash flow, and operational metrics all meet SFA qualifications and are typical for an indoor mixed-use sports and recreation facility. For next steps, SFA recommends the following:

1. Obtain Updated Building Cost Estimates: To further hone in on budget numbers – and possibly lower construction costs – SFA recommends obtaining an updated construction and start-up cost estimate from Miron Construction. Any reduction of construction budgets will improve the amount of additional equity needed. 2. Facility Development Timeline: A comprehensive development timeline including the short-term steps mentioned above as part of a more detailed, long-term, and strategic perspective is critical to the developmental success of these facilities. The timeline should include critical design, entitlement, construction, development, marketing, branding, staffing, and operational milestones. The milestones should be accompanied by anticipated completion dates so that it serves as a roadmap going forward. SFA suggests utilizing this as a “living document” so that it is adjusted and modified as the development process moves forward. 3. Local Collaboration: The founding team has done an exceptional job building relationships with local organizations. It is imperative to continue to grow and maintain these relationships to sustain operations.

SFA believes this project has the opportunity to be successful in achieving TAC’s goals as an organization and supports going forward with the development plans.

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Appendix

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APPENDIX A

Meeting Group *Attended / Invited

Milwaukee Regional *Gene Gilchrist, Executive Director, Milwaukee Regional Medical Center Medical Center Robert Duncan, Executive VP, Community Services, Children’s Hospital of Wisconsin Kathryn Kuhn, VP, Government & Community Relations, Medical College of Wisconsin John Balzer, VP, Facility Planning & Development, Froedtert Health

Badger Region *Jennifer Armson-Dyer, Director of Operations, Badger Region Volleyball Association *Angie Hardwick, Club Director, West Allis Lightning Deb Stadick, Program Director, Badger Region

Milwaukee County Executive *Chris Abele, County Executive, Milwaukee County *Hector Colon, Director of Health & Human Services, Milwaukee County *John Zapfel, Deputy Chief of Staff, Milwaukee County Executive

City of Wauwatosa & *Kathy Ehley, Mayor, City of Wauwatosa School District of Wauwatosa *Dr. Phil Ertl, Superintendent, Wauwatosa School District *Paulette Enders, Director, Development Department, City of Wauwatosa *Jeffrey Rosnowski, Alderman, District 6, City of Wauwatosa *Michael Wick, Director of Recreation, Wauwatosa School District *Laura Wainscott, Community Liaison, Wauwatosa School District *Michael Meier, School Board President, Wauwatosa School District *Terry Estness, Executive Director, Wauwatosa Chamber of Commerce *Kari Miller, Office Manager, Wauwatosa Chamber of Commerce

Froedtert/Medical College *Dr. Kenneth Lee, MD, Spine Care Director, Zablocki Veterans Affairs Physicians & Researchers *Dr. Diane Braza, MD, Chair, Physical Medicine & Rehab, Froedtert/MCW *Dr. Syed Ahmed, MD, Sr. Assoc. Dean for Community Engagement, MCW *Dr. David Nelson, PhD, Assistant Professor, Center for Healthy Communities, MCW *Dr. Tessa Damm, DO, Chief Resident, Internal Medicine, MCW *Dr. Dan O’Reilly, Professor Neurology, MCW *Dr. Dan Debinski, MD, Emergency Physician, Froedtert/MCW *Dr. Oksana Sayko, MD, Physical Medicine & Rehab, Froedtert/MCW *Margie Spencer, CFO, MCW *Jan Lennon, Board Member, Froedtert Foundation *Cameron Gilbertson, Department Administrator, PM&R, MCW *Moriah Iverson, PM&R Research Director, MCW *Kristin Johnson, General Counsel, MCW Dr. Chukuka Enwemeka, Dean, College of Health Sciences, UW-Milwaukee Dr. Roger O. Smith, Rehabilitation Research Design & Disability (R2D2 Center), UW-Milwaukee

Visit Milwaukee *Paul Upchurch, President/CEO, Visit Milwaukee *Brent Foerster, VP of Sales & Marketing, Visit Milwaukee *Marissa Werner, Sports & Entertainment Sales Manager, Visit Milwaukee

Milwaukee County Officials *James “Luigi Schmitt, 6th District, County Supervisor, Milwaukee County *Teig Whaley-Smith, Economic Development Director, Milwaukee County *David Cialdini, Real Estate Agent, Dept. of Administrative Services, Milwaukee County *Don Natzke, Director, Office for Persons with Disabilities, Milwaukee County *James Duff, Director, Veteran’s Service Office, Milwaukee County *Brian Scharfenberger, Department of Family Care Don Tyler, Director of Administrative Services Pat Jursek, 8th District, County Supervisor, Milwaukee County Department of Aging

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Meeting Group *Attended / Invited

User Groups *Tina Stoeckmann, Clinical Associate Professor, Marquette University *Erin McGonigle, PM&R Resident Physician, MCW *Renee Caron, PT Student *Laura Dillon, Physical Therapist, Zablocki VA *Jennifer Yacub Martin, PM&R Resident Physician, MCW *Brittany Kennedy, Physical Therapist, Zablocki VA *Joyce Casey, Therapeutic Recreation, Zablocki VA *Annalise Doyle, Intern, Zablocki VA *Jim Waldron, Spinal Cord Injury *Jeremy & Moss, Spina Bifida *Pat Zumbach, 30 year special needs foster parent

Nonprofit Organizations *Annie McGinnity Kubes, Recreation Coordinator, Milwaukee Recreation *Cindy Housner, Executive Director, Great Lakes Adaptive Sports Association *Nicole Verneuille, Program Director, Great Lakes Adaptive Sports Association *Jason Blank, Region 8 Athletic Director, Special Olympics of Wisconsin *Jennifer Streator, Director of Field Services, Special Olympics of Wisconsin *Bob Scheeberg, VP Work, Day & Senior Services, Goodwill Industries of SE WI *Gus Sorenson, Board Member, Wisconsin Paralyzed Veterans of America *Gerise LaSpisa, Executive Director, Variety the Children’s Charity *Katey Collins, Executive Director, Spina Bifida Wisconsin *Susan Eggold, Children & Youth Services Director, Vision Forward *Judy Haugsland, Major Gifts Director, Vision Forward *John Mezydlo, Board President & Athlete, Milwaukee Iron Quad Rugby *Kevin Kramer, Board Member & Athlete, Milwaukee Iron Quad Rugby *Bob Anger, Milwaukee Heat Wheelchair Basketball Coach, Milwaukee Recreation *Kris Kreutzmann, Wisconsin Thunder Wheelchair Basketball *Kurt Roskopf, Adaptive Director, Wisconsin Water Ski Federation Jacqueline Hallberg, President/CEO, Goodwill Industries of SE WI Dan Depies, VP Workforce & Program Development, Goodwill Industries of SE WI Robert Glowacki, CEO, Easter Seals Southeast Wisconsin Dennis Alldridge, President/CEO, Special Olympics of Wisconsin Bob Whitehead, VP of Program Services, Special Olympics of Wisconsin Jessica Chuckel, Healthy Communities Project Director, Special Olympics of Wisconsin Troy Anderson, Region 7 Athletic Director, Special Olympics of Wisconsin Dr. Candace Hennessy, President/CEO, Curative Care Network Vicki Wachniak, Executive Director, Life Navigators Denice Mader, Program Manager, Life Navigators Lee Schulz, President/CEO, Independence First Kathy Mohar, Sports/Recreation Coordinator, Independence First Dr. Howard L. Garber, President/CEO, Milwaukee Center For Independence Karen Cohen, MCFI Foundation, Milwaukee Center For Independence Theresa Nemetz, State Director, Best Buddies Wisconsin Yvonne Stueber, Executive Director, United Cerebral Palsy of SE WI Mary Fuller, Director of Development & Marketing, United Cerebral Palsy of SE WI Major Roger Ross, Milwaukee County Commander, The Salvation Army Gail Valenti, Divisional Director of Major Gifts, The Salvation Army Colleen Kalt, President/CEO, Multiple Sclerosis Society Wisconsin Chapter Melissa Palfery, Executive Assistant, Multiple Sclerosis Society Wisconsin Chapter Dave Grams, Metro Executive Director, American Heart Association John Cary, Executive Director, MACC Fund Mallory Walsh, Field Development Manager - Milwaukee, Autism Speaks Emily Levine, Executive Director, Autism Society of SE WI Ron Malloy, Executive Director, Down Syndrome Association of WI Kathleen Oberneder, Advocate, Gigi’s Playhouse Christian Jensen, Executive Director, my Team Triumph Johanna Perrini, my Team Triumph American Diabetes Association

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Meeting Group *Attended / Invited

Foundations *Janel Hines, Director of Grant Programs, Greater Milwaukee Foundation *Marybeth Budisch, Senior Donor Services Officer, Greater Milwaukee Foundation *Audrey Strnad, Trustee, Daniel M. Soref Charitable Trust *Laura Mullen, Communications Director, Faye McBeath Foundation *Amy Schultz, Business Development Consultant, Laurus Strategies Kaye Garcia, Executive Director, Forest County Potawatomi Foundation Alicia Manning, Director of New Citizenship Programs, Bradley Foundation John Treiber, Executive Director, Stackner Family Foundation Thelma Sias, VP Local Affairs, We Energies Foundation Daniel & Linda Bader, President/CEO, Helen Bader Foundation Maria Lopez Vento, VP Programs & Partnerships, Helen Bader Foundation Lynn Heimbruch, Program Officer, & Shawna Muren, Northwestern Mutual Foundation Mary Anne Martiny, Manager, Harley Davidson Foundation Jill Van Calster, President/CEO, Donors Forum of Wisconsin Deanna Singh, Executive Director & Tina Quealy, Program Officer, Burke Foundation Janet Curtis, VP of Marketing & Bryon Riesch, President, Bryon Riesch Paralysis Foundation Theodore Friedlander, Gardner Foundation Committee, Nonprofit Management Fund Eileen Walter, Rockwell Automation Foundation Thomas Smallwood, Helfaer Foundation Susan Lloyd, Zilber Family Foundation

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