I was just preparing for a presentation when I came across some interesting numbers vis-a-vis our growth over the past few years. Specifically, I wanted to generate a report on how much we've raised each year, starting in 2011, as well as what percentage of that has been earned income (e.g., interest on loans and fees we charge for Coaching, as opposed to grants or donations). Here are the numbers:
2011
2011
- $167,000 in total income
- 6% of that was earned income
2012
- $306,000 in total income
- 13% of that was earned income
2013
- $393,000 in total income
- 13% of that was earned income
2014
- As of July 23rd, we had already raised $368,000
- Of that, 24% was earned income
- Since July 23rd, we have secured over $200,000 in new grants ($125,000 from the US Treasury, $75,000 from Rhode Island Foundation, and others), putting us on track to raise over $600,000 for the year
Our year-over-year growth, then, has been quite good. From 2011 to 2012, for instance, we grew 83.2%; from 2012 to 2013 we grew 28%; and from 2013 to 2014 we will see growth of 65% (assuming total revenue of $650,000). Equally importantly, the percentage of our funds coming from interest and fee-for-service income has increased by 18% since 2011. We are especially proud of this because, in absolute terms, the dollar value of the earned income has gone from a measly $10K in 2011 to a projected $125K this year.
Still, in order to get to our five-year goals of scale, impact and significant earned income, our growth rate will have to remain strong. In fact, our five-year plan calls for year-over-year growth of 47% next year and 26% by year five; this is compared to growth of about 7% for well-established companies. And of course, the larger the budget, the harder it is to grow: going from $167K in revenue to $306K is a lot easier than going from $1.5 million to $3 million.
What do you think about these numbers? What kind of growth are you seeing at your company?
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