The funding commitments haven't come in; how do I plan?

We presented a plan for a new business incubator. It was the first one that did not focus exclusively on technology. Everyone was incredibly excited and supportive. Funding was pledged through a public-private partnership. The total raise was $500k for the first year and $600 for the second. We had more applicants for staff positions and places at the incubator than we knew what to do with.

Six weeks into the new year, I had only received $75k. I contacted everyone else and they said the money was coming. After 6 months, I only had $200k. Everyone said they were having problems raising the money but it would come. My employees are on consulting contracts because of the uncertainty in funding.

We’ve gotten some extra sponsorship to cover the costs of business contests and weekend retreats. We started to do some consulting to raise some money, but I don’t have enough money to hire qualified staff to meet the demand for consulting projects.

Nine months in, we’ve only received received $400k of the money pledged for the first year. The local government owes us the rest. I have no idea how much of the money pledged for year two will actually come in.

How do I plan for next year? How do we get people to honor their commitments?