|1||Own part of Treefort, 5-day music + multi-disciplinary festival of discovery in Downtown Boise, ID|
|2||A dynamic hub for creatives that energizes the cultural and economic ecosystem in Boise and beyond|
|3||More than 40,000 full festival passes sold and 133,000 total attendees over 8 years.|
|4||Featured 1000s of bands from all over the world, such as Lizzo, George Clinton, Liz Phair, CHAI|
|5||$1.8 million in annual revenue, growing at 17% every year|
|6||Partnerships with BSU, ID Dept of Commerce, Canada, Bittercreek, 100s local biz & non-profits|
|7||Free educational and collaborative opportunities for the community|
|8||Homegrown magnet for innovation and fresh ideas in civic policy and across the business spectrum|
Treefort's hype is not just hype; it is legitimately legit... All of the "About" info is real and genuine. Ask anyone who has experienced the magic - your neighbor, your friend, your granddaddy + grandmommy, the bus driver, shop and bar keeps, biz owners, the Mayor, the cops, the teenagers hanging around your block, the coffee mule in the foothills, Lizzo, the Shriners, Built To Spill, the city's special events team, the economists + academics who studied + validated our magic, the 400+ bands EACH YEAR - you get it. Please research us + conduct your own diligence. I think you will agree: THIS UNICORN IS REAL!
Treefort truly will continue to:
- put Boy-C on the map,
- be vital to the community's health + well being = recovery,
- amplify across the community's creative ecosystem and broader economy for years,
- provide a platform to address worldly issues with intention,
- champion innovation,
- advocate for inclusivity and equity,
- hold space for emotion and processing,
- create opportunities to discover...
... All the while fostering a fun, happy, and safe experience in downtown Boy-C for peeps of all ages!
Treefort Music Fest is a force for community building and creative empowerment in Boise, Idaho and beyond. We are seeking financial support by way of a community ownership offering to see us through COVID-19 shutdowns and secure the future of our festival. Treefort surviving this moment will prove to be a crucial engine for sparking the broader recovery for Boise and the cultural ecosystem around the Pacific Northwest.
Since its inception in 2012, Treefort has been a conduit for creators and the creative vibrancy of Boise. Treefort continually sparks enthusiasm and kinetic activity for Boise’s music, arts, and creative industries. It is a hub and multiplier of creative capital, as well as an economic driver for downtown Boise and the community at large.
An investment in Treefort’s recovery will be amplified across Boise’s creative ecosystem and broader economy for years to come.
"All of this allows Treefort to bring something to the table that other festivals can’t- empowerment. The team running the show isn’t a boardroom assigned by big donors. The showrunners are women, POC, queer folks who know that with intersectionality we all win. And this isn’t rooted in some misguided sense of duty. The world is diverse. Their dream is to capture that, to hopefully let those marginalized voices have the floor in some fashion. And what you wind up with is Treefort- a beautiful congregation of those deserving to be heard and those ready to listen." - The 405
Two weeks before our ninth annual festival, the pandemic caused us to postpone from March to September 2020, yet we had already paid for much of the festival. In effort to keep our community safe, Treefort 9 postponed a second time to September 2021. We intend to hold Treefort 10 in March 2022.
Treefort invites its community to become part owners of the festival. This financial commitment will help us through the coming months and ensure our return in 2021, while continuing to help us bring meaningful programming to the Boise community at a time when it needs it most.
Treefort has given a national voice to a local scene that was once invisible to the outside world, and thus, has helped Boise retain many aspiring artists and creatives. Treefort has put Boise on the map and has differentiated our city from similar markets in the region.
For nearly a decade, Treefort has provided a platform to address worldly issues with intention, championed innovation, advocated for inclusivity and equity, held space for emotion and processing, and created opportunities to discover; all the while fostering a fun, happy, and safe experience in downtown Boise for people of all ages.
From an entire Main Stage crowd shedding tears at Kate Tempest’s set in 2017, to shoulder-to-shoulder rooms filled with sweaty fans crowdsurfing and head bobbing to their new favorite bands, to the young musicians playing their first festival set, to the 25,000 people exploring the rising artistic communities in Boise through the forts of the fest — Treeforters have experienced it all and are better because of those experiences.
In 2011, Treefort planted a seed to bring energy to downtown Boise. By 2014, Treefort had grown to become a catalyst for economic and cultural activity, as recognized by being named the Cultural Ambassador for the City of Boise until 2017. In 2015, Treefort became the first-ever festival to receive B-Corp status. In 2016, Treefort helped found Boise All Ages Movement Project (B-AMP) with a mission of strengthening youth access to music and culture in Boise. Fast-forward to 2020, in the midst of postponing Treefort 9 and a global pandemic, Treefort did not go dormant; we immediately found ways to support our local ecosystem.
Since March 2020, Treefort launched the CCC Fund alongside the Morrison Center and Boise City Department of Arts & History to provide relief and energy to 69 local creatives; started the Treefort Live Music Relief Fund to assist our local live music ecosystem; become an active partner in City of Good to support local restaurants and provide food to those who need it most; is serving as a leader and the voice of Idaho in a national effort to save independent live music venues; is active in anti-racism conversations within the greater Boise arts and culture community.
With your support, Treefort can keep its momentum.
“We’re all in this together” has never felt more significant than now, imagining a Boise without Treefort Music Fest is unfathomable. Treefort is spring. It’s when we emerge from the depths of winter. Our festival marks the season of energy, discovery, and creativity.
Your investment gives us the ability to ensure Treefort Music Fest's continued success. Your investment gives you ownership in Treefort for a lifetime.
Your contribution gives you sweet perks and eternal glory -- not only because you saved Treefort, but you’ve now become a part of the Guardians of the Fort*, those responsible for protecting and reviving an organization that truly has the best interests and passions of Boise in its mission.
*at the $500 investment level
Treefort Music Fest has financial statements ending June 30 2019. Our cash in hand is $190,935.20, as of July 2020. Over the three months prior, revenues averaged $1,503.75/month, cost of goods sold has averaged $3,141.59/month, and operational expenses have averaged $19,806.11/month.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.
Treefort Music Fest is a five-day indie music festival, held at numerous venues throughout downtown Boise, Idaho every year in March. Over the first eight years it has expanded to also include Alefort, Artfort, Comedyfort, Dragfort, Filmfort, Foodfort, Hackfort, Kidfort, Skatefort, Storyfort, and Yogafort. Treefort is now a full-fledged multi-disciplinary event with a lot of dynamic collaboration and community engagement. Treefort is very active year round as an important champion for creatives.
Our goal has always been to build a sustainable event and organization to serve the community of Boise well into the future; grow Boise's music scene. We have been on a solid financial path with goals to expand into our own venue and to continue to build the artist support industry in Boise. In 5 years, we would like to double or even triple our year round full-time staff as we build out the business model and carry out the various complimentary projects in the works.
Treefort, LLC was incorporated in the State of Idaho in July 2014.
Since then, we have:
Historical Results of Operations
Liquidity & Capital Resources
To-date, the company has been financed with $218,000 in debt and $100,000 in equity.
After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 8 months before we need to raise further capital.
We plan to use the proceeds as set forth in this Form C under "Use of Funds". We don’t have any other sources of capital in the immediate future.
We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.
Runway & Short/Mid Term Expenses
Treefort, LLC cash in hand is $190,935.20, as of July 2020. Over the last three months, revenues have averaged $1,503.75/month, cost of goods sold has averaged $3,141.59/month, and operational expenses have averaged $19,806.11/month, for an average burn rate of $21,443.95 per month. Our intent is to be profitable in 14 months.
Our fiscal year runs from July 1 to June 30. The reason for this is that our festival occurs in March. We start taking in pass sale revenue immediately after the festival for the next year's festival. We also start receiving sponsorship income in the Fall of the year before the festival. We use that cash flow to build the March festival. The majority of our expenses through the month before the festival is staff costs and benefits. One month before the festival, we send our artists' deposits, which is 50% of the amount due for artists that are performing. We were three weeks before the festival when it became apparent that we could not hold it in March due to the COVID-19 pandemic. Our state declared a stay-at-home order the very week of the festival. We postponed the festival until September 2020 and honored the refund requests we received. Now, it has become very clear that holding the festival in September 2020 or March 2021 is too risky. We have continued to pay staff costs and will need to for the next 14 months if we are to build a Treefort Music Fest in September of 2021.
We expect minimal revenue from online merchandise sales and no revenue from pass sales until October 2020. We expect a large percentage of our current pass holders to convert their pass over to 2021. There will be a portion that will request partial or full refunds starting as early as July 23rd. We expect that most of our sponsors will also roll over into 2021, the rest we will need to refund.
We do not have additional sources of capital to rely on. The cash we have on hand is what is left from the CARES Act SBA loan and PPP funding.
There is a risk that Treefort won't be able to raise enough to satisfy liabilities for the postponed 2020 festival, which includes over $700,000 in ticket money already spent on staffing and expenses. Since 2020 ticket holders can rollover their ticket to 2021, we will not be able to resell those tickets, and thus need to replace that income for the 2021 festival in order to pay the team to build the festival back up again for September 2021.
There is a risk that the COVID-19 pandemic will not allow for a safe festival in September 2021. Our festival can not realistically happen if we are still required to socially distance and/or if there is no remedy, such as a vaccine or treatment.
Any other natural disaster or other event out of our control that may limit our ability to put on Treefort in September 2021 poses a risk to the company overall.
Loss of sponsors due to a prolonged economic downturn that may hinder our profitability in 2021 and into 2022.
Temporary Rule 201(z)(2) provides temporary relief from certain financial information requirements by allowing issuers to omit the financial statements required by Rule 201(t) in the initial Form C filed with the Commission. This offering has commenced in reliance of Temporary Rule 201(z)(2) and, as a result, the following must be disclosed: (i) the financial information that has been omitted is not otherwise available and will be provided by an amendment to the offering materials; (ii) the investor should review the complete set of offering materials, including previously omitted financial information, prior to making an investment decision; and (iii) no investment commitments will be accepted until after such financial information has been provided.
Decker Rolph and John Michael Schert are part-time officers. As such, it is likely that the company will not make the same progress as it would if that were not the case.
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