ANNUAL MEMBER MEETING Managing Director’s Report OCTOBER 14, 2014 ● 6:30 PM OCEAN COUNTY...

ANNUAL MEMBER MEETINGManaging Director’s ReportOCTOBER 14, 2014 ● 6:30 PM

OCEAN COUNTY COLLEGE, TOMS RIVER

59th anniversary season

serving more than 22,000 annually

Multi-year Management Focus

Solvency Visibility Community

Increasing focus on the bottom line…5 years of local economic decline

Balanced with sustained support

Keeping accumulative shortfall low

Results from FY14 audit once completed are expected to reduce the short-fall to $12k

Earned revenue 2013 2012

Contracted Services $ 18,400.00

$ 24,010.00

Ticket Subscriptions $ 31,859.00

$ 26,508.00

Concert Revenue/Single Tickets $ 57,378.00

$ 23,434.00

Membership Fees (Chorus/GSPYO) $ 15,653.00

$ 15,125.00

Miscellaneous $ 138.00

$ -

Merchandise & Novelty Sales $ 1,504.00

$ 1,605.00

Interest Income $ 49.00

$ 407.00

TOTAL EARNED REVENUE $ 124,981.00

$ 91,089.00

Support:

Donated Rental Space $ 15,330.00

$ 28,080.00

Private Foundations $ 66,010.00

$ 51,000.00

Individual Contributions $ 16,739.00

$ 30,610.00

Corporate Funding $ 32,249.00

$ 1,400.00

TOTAL SUPPORT $ 130,328.00

$ 111,090.00

Government Grants $ 37,817.00

$ 37,742.00

Special Events/Fund-raising $ 29,837.00

$ 43,238.00

TOTAL REVENUE $ 322,963.00

$ 283,159.00

EXPENSES

Program Services $ 197,141.00

$ 155,314.00

Management & General* $ 103,679.00

$ 105,192.00

Fund-raising $ 29,262.00

$ 33,558.00

TOTAL EXPENSES $ 330,082.00

$ 294,064.00

DECREASE IN NET ASSETS $ (7,119.00)

$ (10,905.00)

NET ASSETS, BEGINNING OF YEAR $ (10,793.00)

$ 112.00

NET ASSETS, END OF YEAR $ (17,912.00)

$ (10,793.00)

*Includes Artistic Staff Compensation

Revenue Trends

Expenses Tied to Ups and Downs of RevenueFY12, FY13, FY14 ACTUAL – FY15 Budgeted

SlowPositiveConservative

Reworking internally with minor shifts

Major changes will be directly tied to the receipt of new funding not committed to meeting the core budget

SlowPositiveConservative

Reworking internally with minor shifts

Major changes will be directly tied to the receipt of new funding not committed to meeting the core budget

Affordably reaching more… GardenStatePhilharmonic.org

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”I look forward to receiving something by mail…

ANONYMOUS PATRON

Community…

Volunteers Talks Partnerships

our future depends on our continued involvement and support(732) 255-0460 ● GardenStatePhilharmonic.org ● info@gardenstatephilharmonic.org

60th Anniversary Planning Committee

Legacy Campaign Committee - Preliminary Goal - $350,000• Cash Reserve/Business Line of Credit• Marketing/Visibility • GSPYO Scholarships• Technology Integration• Human Capacity Building

Possible considerations for the Campaign…• Endowing specific musician chairs• Naming/renaming opportunities of programs

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The Orchestra-in-Residence at Ocean County College

THANK YOUfor your continued interest and support of the Jersey Shore’s premiere professional orchestra