Michigan Council for Arts and Cultural Affairs

Transcription

1 Michigan Council for Arts and Cultural Affairs ORGANIZATION OVERVIEW Organization Name Address County Federal ID # Meadow Brook Theatre 207 Wilson Hall, Rochester, MI Oakland This applicant is audited or reviewed by an independent accounting firm. ~0% signifies a value of less than +/- 0.5%. * The value is less than -999% or greater than +9999%. Year Organization Founded Number of Board Members Fiscal Year End Date /30 DUNS Number ORGANIZATION SUMMARY Financial Activity Unrestricted Activity FY 2013 FY 2014 % chg FY 2015 % chg Revenue Earned Program $1,843,287 $1,639,815-11% Non-program 61,078 98,754 62% Total Earned 1,904,365 1,738,569-9% 1,789,152 3% Investment & Transfers 922 (70,395) * % Contributed 347, ,179 1% 475,712 35% Total Unrestricted Revenue Total Unrestricted Revenue Less In-Kind Expenses $2,252,356 $2,229,191 $2,019,353 $2,004,357-10% -10% $1,761,531 27,621 $2,265,274 $2,252,414 7% -72% 12% 12% Program Fundraising General & Administrative $1,759, , ,435 $1,818, , ,683 3% $1,892,153 4% -11% 85,248-17% -4% 273,416 2% Total Expenses Total Expenses Less In-Kind $2,153,650 $2,153,650 $2,189,897 $2,189,897 2% 2% $2,250,817 $2,250,817 3% 3% Net Unrestricted Activity $98,706 ($170,544) $14,457 Net Temporarily Restricted Activity $0 $28,864 $0 Net Permanently Restricted Activity $7,845 $53,067 $1,054 Net Total Activity $106,551 ($88,613) $15,511 Page 1 of 8

2 REVENUE Earned FY 2013 FY 2014 % chg FY 2015 % chg 1 Admissions $0 2 Ticket Sales $1,189,040 $994,337-16% $1,111,159 12% 3 Tuitions $0 4 Workshop & Lecture Fees $0 5 Touring Fees $0 6 Special Events - Non-fundraising $0 7 Gift Shop/Merchandise Sales $0 7a Gallery/Publication Sales $0 8 Food Sales/Concession Revenue $26,139 $14,485-45% 8a Parking Concessions $0 9 Membership Dues/Fees $0 10 Subscriptions - Performance $651,358 $642,303-1% $646,269 1% 10a Subscriptions - Media $0 11 Contracted Services/Performance Fees $0 12 Rental Income $34,939 $84, % $27,621-67% 13 Royalties/Rights & Reproductions $0 14 Advertising Revenue $0 15 Sponsorship Revenue $0 16 Investments-Realized Gain/Losses $320 $ % $440-33% 17 Investments-Unrealized Gains/Losses $6,000 $6,527 9% ($6,114) -194% 18 Interest & Dividends $2,447 $4,350 78% $7,138 64% 19 Other Earned Revenue $2,889 $3,175 10% $4,103 29% 20 Total Earned Revenue $1,913,132 $1,750,105-9% $1,790,616 2% Contributed FY 2013 FY 2014 % chg FY 2015 % chg 21 Trustee/Board Contributions $10,000 $18,898 89% $22,548 19% 22 Individual Contributions $57,656 $37,731-35% $137, % 23 Corporate Contributions $55,000 $81,304 48% $92,565 14% 24 Foundation Contributions $101,925 $61,500-40% $65,000 6% 25 Government - City $0 26 Government - County $0 27 Government - State $0 $18,60 $80, % 28 Government - Federal $0 28a Tribal Contributions $0 29 Special Events - Fundraising $99,323 $118,150 19% $65,486-45% 30 Other Contributions $0 30b Parent Organization Support $0 30c Related Organization Contributions $0 31 In-kind Contributions $23,165 $14,996-35% $12,860-14% 32 Net Assets Released from Restrictions $0 33 Total Contributed Revenue and Net Assets Released from Restrictions 34 Total Earned and Contributed Revenue Including Net Assets Released $347,069 $351,179 1% $475,712 35% $2,260,201 $2,101,284-7% $2,266,328 8% 35 Transfers & Reclassifications $0 $0 Total Revenue FY 2013 FY 2014 % chg FY 2015 % chg 36 Total Revenue $2,260,201 $2,101,284-7% $2,266,328 8% Total Unrestricted Revenue $2,252,356 $2,019,353-10% $2,265,274 12% Total Unrestricted Revenue Less In-Kind $2,229,191 $2,004,357-10% $2,252,414 12% n/a Page 2 of 8

3 EXPENSE Expense FY 2013 FY 2014 % chg FY 2015 % chg 1 Total Salaries & Fringe (From Section 5) $1,259,711 $1,240,681-2% $1,296,127 4% 2 Accounting $15,390 $16,335 6% $17,255 6% 3 Advertising and Marketing $115,361 $121,461 5% $141,813 17% 4 Artist Commission Fees $0 4a Artist Consignments $0 5 Artists & Performers - Non-Salaried $45,000 $46,000 2% $48,000 4% 6 Audit $10,000 $10,000 0% $11,000 10% 7 Bank Fees $39,818 $34,319-14% $35,608 4% 8 Repairs & Maintenance $2,048 $5, % $1,754-69% 9 Catering & Hospitality $0 10 Collections Conservation $0 11 Collections Management $0 12 Conferences & Meetings $0 13 Cost of Sales $9,303 $3,633-61% $4,141 14% 14 Depreciation $37,034 $37,948 2% $49,772 31% 15 Dues & Subscriptions $7,005 $7,564 8% $6,393-15% 16 Equipment Rental $2,544 $3,194 26% $2,725-15% 17 Facilities - Other $0 18 Fundraising Expenses - Other $43,230 $60,321 40% $16,211-73% 19 Fundraising Professionals $0 20 Grantmaking Expense $0 21 Honoraria $0 22 In-Kind Contributions $0 23 Insurance $15,000 $15,000 0% $16,000 7% 24 Interest Expense $1,429 $680-52% $717 5% 25 Internet & Website $840 $876 4% $1,096 25% 26 Investment Fees $0 27 Legal Fees $1,710 $1,815 6% $1,917 6% 28 Lodging & Meals $3,796 $5,346 41% $4,907-8% 29 Major Repairs $0 30 Office Expense - Other $0 31 Other $0 32 Postage & Shipping $12,668 $13,637 8% $15,348 13% 33 Printing $4,270 $5,731 34% $2,853-50% 34 Production & Exhibition Costs $234,138 $256,451 10% $249,437-3% 34a Programs - Other $0 35 Professional Development $0 36 Professional Fees - Other $0 37 Public Relations $7,430 $11,192 51% $4,605-59% 38 Rent $102,387 $101,109-1% $104,365 3% 38a Recording & Broadcast Costs $10,287 $10,436 1% $10,500 1% 38b Royalties/Rights & Reproductions $137,071 $109,416-20% $124,783 14% 39 Sales Commission Fees $0 39a Security $0 40 Supplies - Office and Other $7,461 $8,249 11% $9,702 18% 41 Telephone $5,028 $5,260 5% $5,453 4% 42 Touring $0 43 Travel $23,691 $57, % $68,335 19% 44 Utilities $0 Total Expense FY 2013 FY 2014 % chg FY 2015 % chg 45 Total Expenses $2,153,650 $2,189,897 2% $2,250,817 3% Total Expenses Less In-Kind $2,153,650 $2,189,897 2% $2,250,817 3% 46 Change in Net Assets $106,551 ($88,613) -183% $15, % Page 3 of 8

4 DESCRIPTIONS Below are the descriptions provided for questions that required additional information. REVENUE 19a If Other Earned Revenue, Briefly Describe 31a In-Kind Contributions, Briefly Describe Miscellaneous Income Costume, Props, and Set Supplies EXPENSES 18a Fundraising Expenses - Other, Briefly Describe Donor Relations, Benefit Concert, Strolling Dinner Page 4 of 8

5 BALANCE SHEET TRENDS The Balance Sheet, also known as a Statement of Financial Position, shows the accumulated financial results of all the years that an organization has been in operation, and consists of what the organization owns - its assets; what the organization owes - its liabilities; and the difference between its assets and liabilities its net assets or net worth. Assets FY 2013 FY 2014 % chg FY 2015 % chg Current Assets Cash $399,391 $210,631-47% $207,764-1% Receivables 57,777 19,168-67% 101, % Prepaid Expenses & Other 70, ,066 52% 95,587-11% Total Current Assets 527, ,865-36% 404,416 20% Investments 71,959 83,947 17% 85,001 1% Fixed Assets (net) 188, ,890-7% 248,755 42% Non-Current Assets 0 Total Assets $788,553 $595,702-24% $738,172 24% Liabilities & Net Assets FY 2013 FY 2014 % chg FY 2015 % chg Liabilities Current Liabilities Accounts Payable & Other $95,523 $48,483-49% $138, % Loans & Other Debt 9,000 15,165 n/a Deferred Revenue 673, ,067-7% 645,789 3% Total Current Liabilities 777, ,550-13% 799,230 19% Non-Current Liabilities 0 1,279 n/a Total Liabilities $777,788 $673,550-13% $800,509 19% Net Assets Unrestricted ($70,801) ($162,150) -129% ($138,258) 15% Temporarily Restricted 29,722 28,864-3% 27,930-3% Permanently Restricted 51,844 55,438 7% 47,991-13% Total Net Assets $10,765 ($77,848) -823% ($62,337) 20% Total Liabilities & Net Assets $788,553 $595,702-24% $738,172 24% Page 5 of 8

6 BALANCE SHEET TRENDS: FINANCIAL POSITION The key measures of financial position below can help understand the capital structure of an organization. Financial Position FY 2013 FY 2014 FY 2015 Net assets as a % of total expenses ~0% -4% -3% Total Working Capital ($259,794) ($337,040) ($385,734) Fixed Assets (net) $188,993 $174,890 $248,755 Total Endowment $0 $0 $0 Total Debt $9,000 $0 $16,444 Net assets as a % of total expenses measures the net worth of an organization in relationship to its operating size. It is calculated as total net assets divided by total expenses. If the trend is level or increasing, then total net assets are keeping pace with growth in operating expenses. Total working capital consists of the unrestricted resources available for operations, and in this report is calculated as unrestricted current assets (not including unrestricted endowment investments) minus unrestricted current liabilities. This is a conservative calculation of working capital and may differ from your internal calculations. Adequate working capital provides financial strength and flexibility to your organization, the ability to meet obligations as they come due, and the ability to take more risks, knowing there is a cushion to fall back on. Fixed assets (net) include all land, buildings, equipment, and other fixed assets owned by the organization. It is calculated net of accumulated depreciation to reflect the reduction in the value of an asset as it ages and is used. Total endowment includes monies usually invested long-term. Endowment may be unrestricted, temporarily restricted, or permanently restricted. Income from endowment is generally available for operations or to support specific purposes. Total debt consists of all short and long-term contractual obligations of the organization, including notes, bonds, and capital leases payable. The Working Capital Ratio relates working capital to the size of the operation, showing how many months of operating revenue are available to meet current needs. The graph at the right looks at the most liquid of the organization s unrestricted current assets in comparison to its current liabilities. Page 6 of 8

7 NON FINANCIAL INFORMATION (Section 11) Staff & Non-staff Statistics (Number of People) FY 2013 FY 2014 % chg FY 2015 % chg 1 Full-time Permanent Employees % % 2 Part-time/Seasonal Employees % % 3 Part-time/Seasonal Empl. - FTEs % % 4 Full-time Volunteers Part-time Volunteers Part-time Volunteers - FTEs Independent Contractors % % 8 Independent Contractors - FTEs % % 9 Interns/Apprentices % % 10 Interns/Apprentices - FTEs % % Number of Contributors FY 2013 FY 2014 % chg FY 2015 % chg 1 Individuals 1, % 760 9% 2 Board % 15 88% 3 Corporate % 13 18% 4 Foundation % 7 0% 5 Government (Federal, State & Local) 0 2 n/a 1-50% Attendance (Number of People) FY 2013 FY 2014 % chg FY 2015 % chg 1 Total Paid Attendance 69,565 65,027-7% 69,580 7% Physical 69,565 65,027-7% 69,580 7% Virtual 0 2 Total Free Attendance 125, ,190-2% 123,417 ~0% Physical 5,438 3,190-41% 3,417 7% Virtual 120, ,000 0% 120,000 0% 3 Total Attendance 195, ,217-3% 192,997 3% 4 Children 18 and under 15,000 15,000 0% 15,000 0% 5 Number of Groups of Children 18 and Under % 100 0% 5a Number of Other Groups % 400 4% 6 Attendance - Classes/Workshops % Subscribers & Members FY 2013 FY 2014 % chg FY 2015 % chg 1 Paying Subscribers - Performance 4,300 4,000-7% 4,050 1% 1a Paying Subscribers - Media 0 1b Non-paying Subscribers - Media 9,000 10,000 11% 11,000 10% 2 Paying Members 0 3 How many people are both members and subscribers? 0 0 n/a Page 7 of 8

8 NON FINANCIAL INFORMATION (Continued) Pricing (in dollars) FY 2013 FY 2014 % chg FY 2015 % chg 1 Average Adult Price $26.00 $ % $ % 2 Average Child Price $17.00 $ % $ % 3 Average Senior Citizen Price $24.00 $ % $ % 4 Average Student Price $20.00 $ % $ % 5 Highest Single Price $40.00 $ % $ % 6 Lowest Single Price $15.00 $ % $ % 7 Median Price $25.00 $ % $ % 8 Average Adult Tuition/Workshop Price $0.00 $0.0 $0.0 9 Average Child Tuition/Workshop Price $0.00 $0.0 $ Average Publication Price $0.00 $0.0 $ Average Fundraising Special Event Price $50.00 $ % $ % 12 Average Non-fundraising Special Event Price $0.00 $0.0 $ Average Media Content Price $0.00 $0.0 $0.0 Program Activity (Number of Events) FY 2013 FY 2014 % chg FY 2015 % chg 1 Live Productions - Self-Produced 7 7 0% 7 0% 1a Live Productions - Presented Only % 5 25% 2 Public Performances - Home % 228 0% 3 Public Performances - Away 0 3a Online/radio/television programs 0 4 Permanent Exhibitions 0 5 Temporary Exhibitions 0 6 Classes/Workshops - for the 0 public/constituents 7 Classes/Workshops - for professional artists 0 7a Publications % 10 0% 7b Number of Publications Distributed 120, ,000 0% 120,000 0% 8 Tours 0 8a Number of Tour Occurrences 0 9 Films 0 9a Number of Film Screenings 0 10 Lectures 0 10a Number of Lecture Occurrences 0 11 Exhibition Openings 0 12 World Premieres 0 1 n/a 13 National Premieres 0 14 Local Premieres % 4-20% 15 Works Commissioned 0 16 Workshops or readings of new works 0 17 Programs - Other 0 17a Number of Programs - Other Occurrences 0 18 Off-site School Programs 0 1 n/a 1 0% 18a Number of Off-site School Program 0 1 n/a 1 0% Occurrences 19 Facility Rentals - By your org. for your 0 program use 20 Facility Rentals - By your org. for your nonprogram use 0 21 Facility Rentals - Of your org. for another org's use % 15 0% Page 8 of 8