Treasurer's Report: Fiscal Year June 1, 2008 to May 31, 2009

To download a copy of the 2009 Annual Report as a PDF file, please click here.

Treasurer's Letter,

For the fiscal year 2008-09, Anderson Ranch Arts Center worked to achieve its financial goals while successfully delivering all workshop and residency programs
 
Financial statement highlights include:
1. During the 2008-2009 year Anderson Ranch faced financial pressures as have many arts organizations during this period. These included the overall economic downturn that affected donor contributions and student enrollment as well as an occurrence of alleged employee dishonesty. The Ranch has successfully recovered more than half of the alleged loss and is continuing its recovery efforts. The Ranch’s Endowment and Donor Restricted Funds remain intact. The continuing economic conditions will continue to have a challenging economic effect for the 2010 year.
2. Outstanding pledges receivable were at $1.02 million. Auditor’s discounts were minimal indicating a high confidence that donors will continue to meet all pledge obligations.
3. Balance sheet liabilities were relatively low compared to assets and equity. The Ranch has no debt other than a revolving line of credit for cash flow purposes.
4. Contributed support including fundraising from summer events, annual unrestricted gift-giving and restricted assets recognized represented 66% of the total operating revenue.
5. Earned income from workshop, housing, café, and retail endeavors accounted for 44% of all revenue generated indicating a strong core base of entrepreneurial spirit and a commitment to efficiently managed programs that generate positive net revenue.

Bruce Berger
Treasurer, Board of Trustees

For a complete copy of the audited financial statements, email Robert Griem, Controller at rgriem@andersonranch.org. A complete copy of Anderson Ranch's most recent 990 tax return can be found at www.guidestar.org.