CONFIDENTIAL ‐ NURFC USE ONLY

National Underground Railroad Projected Projected Projected Projected Projected Projected 5 Year
Freedom Center - Federalized 2009 2010 2011 2012 2013 2014 Total

Revenues:
Earned
Admissions $ 685,000 $ 869,500 $ 800,000 $ 800,000 $ 800,000 $ 800,000 4,069,500
Facility Rental 175,000 278,300 225,000 230,000 230,000 235,000 1,198,300
Retail Sales, net 150,000 176,100 175,000 160,000 160,000 160,000 831,100
Membership 60,000 80,100 85,000 88,000 92,000 96,000 441,100
Café 14,000 18,400 15,000 15,000 15,000 15,000 78,400
Total Earned Revenues 1,084,000 1,422,400 1,300,000 1,293,000 1,297,000 1,306,000 6,618,400

Private Support
Board Support / Major Gifts 1,050,000 1,550,000 1,100,000 1,100,000 1,100,000 1,100,000 5,950,000
Annual Fund/Individuals 150,000 200,000 150,000 175,000 175,000 175,000 875,000
Corporations 75,000 250,000 125,000 125,000 125,000 125,000 750,000
Foundations 175,000 125,000 175,000 175,000 175,000 175,000 825,000
Released from Restriction 558,000 - - - - - -
Special Events 40,000 250,000 125,000 125,000 125,000 625,000
Total Private Support 2,048,000 2,375,000 1,550,000 1,700,000 1,700,000 1,700,000 9,025,000

Governmental Support
Federal (Dept. of Education) 800,000 750,000 550,000 550,000 550,000 550,000 2,950,000
State (Ohio) - - - - - - -
Local (Cincinnati) - - - - - - -
Total Governmental Support 800,000 750,000 550,000 550,000 550,000 550,000 2,950,000

Federalization - - 5,000,000 5,000,000 5,000,000 5,000,000 20,000,000

Other Programs - Release/old dollars 641,000 - - - - - -

Miscellaneous Income 8,000 7,600 - - - - -

Total Revenues 4,581,000 4,555,000 8,400,000 8,543,000 8,547,000 8,556,000 38,593,400

Expenses (Foundation)
Wages & Benefits 2,679,000 2,900,000 1,305,000 1,338,000 1,371,000 1,405,000 8,319,000
Other 3,619,000 3,500,000 1,575,000 1,591,000 1,607,000 1,623,000 9,896,000
Total Foundation Expenses 6,298,000 6,400,000 2,880,000 2,929,000 2,978,000 3,028,000 18,215,000

Expenses (Federal)
Wages & Benefits - - 1,595,000 1,635,000 1,676,000 1,718,000 6,624,000
Other - - 3,405,000 3,365,000 3,324,000 3,282,000 13,376,000
Total Federal Expenses - - 5,000,000 5,000,000 5,000,000 5,000,000 20,000,000

Total Surplus (Deficit) Before Interest (1,717,000) (1,845,000) 520,000 614,000 569,000 528,000 378,400

Net Interest Expense

Investment Income (exclude unrealized) (258,000) (86,800) (45,000) (64,000) (79,000) (90,000) (364,800)
Interest Expense 1,008,000 937,000 222,000 217,000 212,000 206,000 1,794,000
Total Net Interest Expense 750,000 850,200 177,000 153,000 133,000 116,000 1,429,200

Total Surplus (Deficit) $ (2,467,000) $ (2,695,200) $ 343,000 $ 461,000 $ 436,000 $ 412,000 $ (1,050,800)

Estimated Cash and Investments, Beginning of Year $ 6,239,000 $ 5,359,000 $ 1,923,800 $ 2,651,800 $ 3,829,800 $ 4,152,800 $ 5,359,000

Add estimated inflows:

Payments on prior year pledges (8/09 and earlier) 450,000 570,000 830,000 700,000 50,000 50,000 2,200,000
Payments on budgeted pledges - 2 prior years before - 300,000 - 642,000 467,000 467,000 1,876,000
Payments on budgeted pledges - prior year - - 642,000 467,000 467,000 467,000 2,043,000
Cash Contributions - Current Year Private Support - 1,090,000 620,000 770,000 770,000 770,000 4,020,000
Government payments 350,000 800,000 5,550,000 5,550,000 5,550,000 5,550,000 23,000,000
Earned Revenue 250,000 1,305,000 1,300,000 1,293,000 1,297,000 1,306,000 6,501,000
Less estimated outflows: -
Estimated operating expenses (2,120,000) (6,400,000) (7,880,000) (7,929,000) (7,978,000) (8,028,000) (38,215,000)
Estimated Interest Expense, net (310,000) (850,200) (177,000) (153,000) (133,000) (116,000) (1,429,200)
Principal Payments on Debt - One time Paydown - - -
Principal Payments on Debt - - (157,000) (162,000) (167,000) (173,000) (659,000)
GAAP Basis adjustments 500,000 (250,000) - - - 500,000 250,000

Estimated Cash and Investments, End of Year $ 5,359,000 $ 1,923,800 $ 2,651,800 $ 3,829,800 $ 4,152,800 $ 4,945,800 $ 4,945,800