August, 2006

SBTC releases its 2nd Annual Report

During the fiscal year of 2005-2006 the SBTC:
Delivered 24 in-depth management consulting projects to Southside companies and assisted 40 + companies;Generated $22,285 in revenues from client fees;Provided 4,094 consulting hours to Southside businesses;Recruited and trained 5 interns from local colleges and 10 Virginia Tech student interns to work on SBTC consulting projects;Hired two additional full time staff employees to manage the client demand that was higher than originally anticipated;Received its independent 501 (c) (3) status from the IRS;Received additional grant funding for FY 06-07 from the Virginia Tobacco Indemnification and Community Revitalization Commission (TICRC) in the amount of $75,000;Received additional funding for a three year-period to cover SBTC rent from the Lucy P. Sale Foundation in the amount of $30,000;Developed its three-year Strategic Plan;
Expanded SBTC Board of Directors membership.