Heide Museum of Modern Art 2010 Annual Report
Heide Museum of Modern Art 2010 Annual Report
Heide Museum of Modern Art 2010 Annual Report
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13. Financial Statements<br />
STATEMENT OF<br />
COMPREHENSIVE INCOME<br />
For the year ended 31 December <strong>2010</strong><br />
Operating Activities<br />
<strong>Heide</strong> <strong>Museum</strong> <strong>of</strong> <strong>Modern</strong> <strong>Art</strong><br />
<strong>2010</strong> <strong>Annual</strong> <strong>Report</strong><br />
Note<br />
<strong>2010</strong><br />
$<br />
2009<br />
$<br />
Revenue from operating activities 2 4,155,738 2,982,190<br />
Programming expenses (424,235) (436,551)<br />
Marketing expenses (606,483) (491,263)<br />
Collection expenses (77,166) (80,841)<br />
Costs <strong>of</strong> goods sold (256,370) (191,020)<br />
Commercial operations expenses (14,958) (19,791)<br />
Repairs and maintenance (233,032) (179,263)<br />
Grounds and gardens (40,179) (50,443)<br />
Utilities (107,966) (86,802)<br />
Insurance (109,958) (99,808)<br />
Borrowing costs (460) (29)<br />
Depreciation, amortisation and impairment (607,162) (483,631)<br />
Employee benefits expense (1,752,706) (1,640,402)<br />
Other expenses from operating activities (382,586) (215,475)<br />
Total operating expenses (4,613,261) (3,975,319)<br />
Net surplus (deficit) from operating activities (457,523) (993,129)<br />
Investing Activities<br />
Gain on sale <strong>of</strong> investments – 178,921<br />
Brokerage costs – (3,157)<br />
Net surplus from investing activities – 175,764<br />
52
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