Rosemary O'Neill suggest that you create a fluid business plan for any community that receives funding, and shows you some ways of adopting the standard business plan to online communities.
Show how much work you’ve done to find out about the landscape for your community.
Are there competing community sites?
Are they monetized (and how)?
Who is your target community member?
How many people fit your profile, and how active are they in communities and other social networks?
Demographic information would be great in this section. Great sources of all types of community data include: The Community Roundtable, Leader Networks, and Feverbee.