OEC financials

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					                                                                        Income Statement
                                                                             For the years ending Dec 31


Income Statement                 2009    2010    2011    2012    2013      2014       2015         2016     2017    2018

Revenue
Counseling service fee           4080    6800    9520   12240   13600     16320      20400       27200     27200   27200
Corporate/individual donation   10000    8000    6000    4000    2000         0          0           0         0       0
Student's contribution*             0       0       0       0       0      1250       3000        5500      8500   12250

Net revenue                     14080   14800   15520   16240   15600     17570      23400       32700     35700   39450

Operational expense
Fixed expense
Counselor's salary               4800    5040    5292    5557    5834      6126       6432         6754     7092    7446
Assistant's salary                  0       0       0       0       0      2400       2640         2904     3194    3514
Utilities                        3240    3240    3240    3240    3240      3240       3240         3240     3240    3240

Variable expense
SATs/Toefl Subsidy                240     480     720     960    1200      1440       1800         2400     3000    3600
Event hosting                     600     660     726     799     878       966       1063         1169     1286    1415
Publicity                         300     330     363     399     439       483        531          585      643     707
Printing/'info package'           400     480     576     691     829       995       1194         1433     1720    2064
School program sponsorships         0       0       0     500     600       720        864         1037     1244    1493
Local University scholarships       0       0       0     800    1600      2400       3200         4000     4000    4000
Other                             500     550     605     666     732       805        886          974     1072    1179


Net Expense                     10080   10780   11522   13611   15354     19576      21851       24496     26491   28658

Net Income before tax            4000    4020    3998    2629     246     -2006       1549         8204     9209   10792
Tax                                 0       0       0       0       0         0          0            0        0       0
Net income after tax             4000    4020    3998    2629     246     -2006       1549         8204     9209   10792

Accumulated income               4000    8020   12018   14647   14893     12887      14436       22640     31848   42640
Assumptions                               2009       2010        2011       2012        2013     2014    2015    2016    2017    2018

# of students admitted per year
Underserved                                  5          7          10         12          15       18      20      25      30      30   172
Well off                                     3          5           7          9          10       12      15      20      20      20   121
Counselor service fee/person*             4080       6800        9520      12240       13600    16320   20400   27200   27200   27200
Corporate/Individual Donation            10000       8000        6000       6000        3000        0       0       0       0       0


SATs/Toefl examination Subsidy
# of students subsidized per year            2           4          6           8         10       12      15      20      25      30   132
Total subsidy                              240         480        720         960       1200     1440    1800    2400    3000    3600

Local University Scholarship
# of recipients per year                      0          0           0          2          4        6       8      10      10      10    50
Total scholarship fund                        0          0           0        800       1600     2400    3200    4000    4000    4000

Notes:
1. Well-off students will pay 4% of their tuition fee as a counseling fee
2. Underserved market will pay USD 150 per student for 4 years, once they enter the workforce
3. OEC strives to be self-sustainable after 5 years


Start-Up Costs

Furniture                                            1000
1 computer                                            600
1 printer                                             120
OEC paraphernalia                                     400
Office supplies                                       200
Advertising costs                                     500
Business licensing                                    300
Grand opening expense                                1000
Miscellaneous expense                                 400
Total   4520
top 40 national univ tuition     $36,173
                                $34,290
                                $35,300
                                $36,390
                                $36,030
                                 $34,437
                                 $37,526
                                 $39,326
                                 $37,632
                                 $36,915
                                 $37,125
                                 $36,504
                                 $37,700
                                 $37,718
                                $28,996
                                 $36,336
                                 $36,847
                                 $37,005
                                 $29,540
                                 $38,122
                                $38,844
                                $29,600
                                 $26,102
                                 $32,401
                                 $37,740
                                $38,840
                                 $36,975
                                 $22,294
                                 $37,294
                                 $29,326
                                 $37,372
                                 $37,950
                                 $21,386
                                 $37,550
                                 $28,932
                                 $28,932
                                 $37,250
                                 $21,818
                                 $25,334
                                 $33,550
                               $1,359,402
average tution fee                $33,985

				
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