la quinta arts foundation annual review 2009- 2010
la quinta arts foundation annual review 2009- 2010
la quinta arts foundation annual review 2009- 2010
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LA QUINTA ARTS FOUNDATION<br />
Federal Tax ID Number: 95-3842968<br />
A nonprofit 501(c)3 charitable organization<br />
founded in 1982 dedicated to its mission:<br />
“Promoting and Cultivating the Arts”<br />
Message from Executive Director<br />
LA QUINTA ARTS FOUNDATION<br />
ANNUAL REVIEW<br />
<strong>2009</strong>- <strong>2010</strong><br />
La Quinta Arts Foundation (LQAF) entered the<br />
<strong>2009</strong>/10 Season with the pragmatic strategy<br />
to “accomplish more with less.” With no<br />
guarantee that the economic recession would<br />
ease, LQAF evaluated each outreach program<br />
on effectiveness and efficiency to serve LQAF’s<br />
mission of Promoting and Cultivating the Arts.<br />
We prepared a zero-based budget scrutinizing<br />
all cost centers, bid and renegotiated contracts<br />
and worked to optimize col<strong>la</strong>borations and partnerships. These efforts<br />
resulted in a successful season of well received programs reaching over<br />
38,000 constituents.<br />
Besides upgrading entertainment and other amenities at La Quinta Arts<br />
Festival, a seventh show was added to Art Under the Umbrel<strong>la</strong>s, and the<br />
third <strong>annual</strong> La Quinta Blues & Brews was relocated to La Quinta Civic<br />
Center Campus. Two unique local interest exhibits with a host of re<strong>la</strong>ted<br />
education programs were presented at La Quinta Museum and met with<br />
rave <strong>review</strong>s. LQAF’s commitment to the elementary school docent art<br />
program continued at historical levels, with LQAF’s college scho<strong>la</strong>rship<br />
cumu<strong>la</strong>tive awards approaching $900,000 since the program was<br />
instituted in 1984.<br />
Strong interest and support from members of the community,<br />
volunteers, sponsors, artists, local business, civic and charitable<br />
organizations, and the City of La Quinta resulted in unprecedented<br />
positive awareness and appreciation for the contributions La Quinta<br />
Arts Foundation brings to our community. I am grateful for the<br />
continued confidence of the public and proud to submit the<br />
La Quinta Arts Foundation Annual Review <strong>2009</strong>/10.<br />
This mission is accomplished by producing nationally<br />
acc<strong>la</strong>imed visual and performing ar t events, forming<br />
meaningful community par tnerships, and providing<br />
cultural, education and personal growth outreach<br />
oppor tunities to students, ar tists, residents and<br />
visitors to La Quinta and beyond.<br />
Christi Sa<strong>la</strong>mone<br />
<strong>2009</strong>/10 BOARD OF DIRECTORS<br />
Scott Wilson, Chairman / President<br />
Mike Fedderly, Chief Financial Officer<br />
Haddon Libby, Secretary<br />
John Gamlin<br />
Olga Giannini<br />
Bob Marra<br />
Jim Parrish<br />
Robert Stearns<br />
Phillip Waller<br />
MEMBERS EMERITI<br />
Nancy Marks<br />
Kay Wolff<br />
LQAF STAFF<br />
Christi Sa<strong>la</strong>mone. Executive Director<br />
Jim Christian, Director Finance & Operations<br />
Kathleen Hughes, Events Manager<br />
Kathy Bauer, Administrative Manager<br />
Debby Nelson, Volunteer Coordinator
28 th La Quinta Arts Festival – March 11-14, <strong>2010</strong><br />
Art in Public P<strong>la</strong>ces<br />
To join the 27 sculptures and 9 paintings procured over the<br />
years, the <strong>2010</strong> City of La Quinta Civic Purchase selection<br />
committee chose a kinetic sculpture, two paintings, and a<br />
<strong>la</strong>rge photograph of scenic Box Canyon – all to be p<strong>la</strong>ced in<br />
the La Quinta Library.<br />
It is our ongoing goal to continue to communicate La Quinta<br />
Arts Festival as a viable Art in Public P<strong>la</strong>ces resource to cities<br />
and developers— including incorporating an artist registry<br />
on LQAF.com.<br />
Featured Artist Kristin DeSantis<br />
Contemporary metal and mixed<br />
media artist Kristin DeSantis from<br />
Allenspark, Colorado provided the<br />
vibrant images featured on the La<br />
Quinta Arts Festival <strong>2010</strong> poster,<br />
marketing col<strong>la</strong>teral and<br />
commemorative t-shirts. Her<br />
whimsical poster image became the<br />
inspiration for the Festival’s theme,<br />
“Flying High Above the Rest.”<br />
Awards Reception<br />
Well over 500 guests attended Festival <strong>2010</strong>’s opening night<br />
reception hosted by LQAF board and staff members on<br />
the Civic Center Amphitheatre <strong>la</strong>wn from 5:30 to 7:00 pm.<br />
Along with the Festival Artists, special invitees to the Awards<br />
Reception were LQAF Friends and Patron Members, Docents,<br />
Home Hosts, and dignitaries from the City of La Quinta,<br />
Premier Sponsor for all LQAF events. The awards reception<br />
was “catered” by donations from 14 Featured Festival<br />
Restaurants and Festival Sponsors.<br />
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By The Numbers<br />
• Ticket Prices: $12, Multi-day Pass $15, Children free.<br />
Online tickets $12 for Multi-day Pass. Patrons with<br />
direct mail card got $2 off each in their party.<br />
• 17,087 paid attendance, 6% over <strong>2009</strong><br />
• 230 Exceptional Artists from 804 applicants<br />
• Art sales $1,960,753; 42% increase over <strong>2009</strong>, income<br />
of $392,150<br />
Recognition<br />
• Ranked #8 in the Nation <strong>2009</strong>, Art Fair Source Book<br />
• Silver Addy Award <strong>2009</strong>, La Quinta Arts Festival Poster,<br />
Advertising Federation of the Desert<br />
• <strong>2010</strong> Summit International Award, Bronze for La Quinta<br />
Arts Festival Advertising Campaign, Consumer Print<br />
Materials Campaign category<br />
• <strong>2010</strong> Summit International Award, Bronze for the La Quinta<br />
Arts Festival Poster, Poster category<br />
FESTIVAL <strong>2010</strong> AWARD WINNERS<br />
Best of Show: Stephanie Gardner / Mixed Media<br />
Best Of Category<br />
Fine Craft Chanin Cook & Jonathan Edie<br />
Drawing & Printmaking Molly Lipsher<br />
Painting Eric Lee<br />
Photography Lisa Kristine<br />
Sculpture Eric Ober<br />
Textile/Fiber Shelly Evans<br />
Jewelry Adam Neeley<br />
Awards Of Merit<br />
Fine Craft Leslie Thompson<br />
Drawing & Printmaking Katharine McGuiness<br />
Jewelry Dorothee Naumburg<br />
Mixed Media Rey D’Alfonso<br />
Painting Victor Martinez<br />
Photography Doug Landreth<br />
Sculpture Jim Budish<br />
Textile/Fiber Bozenna Bogucki<br />
City of La Quinta Civic Purchase Awards:<br />
Andrew Carson & Shelly Corbett<br />
Justin Coopersmith<br />
Dennis Kohn<br />
Michael Leu
July 1, <strong>2009</strong> to June 30, <strong>2010</strong> An Amazing Season!<br />
Art Under the Umbrel<strong>la</strong>s<br />
This series expanded from six to<br />
seven shows during <strong>2009</strong>/10:<br />
October 10, November 7, December<br />
5, January 16, February 13, March 27,<br />
April 10<br />
Seen as “the p<strong>la</strong>ce to be” by<br />
attendees and artists alike, the reputation and popu<strong>la</strong>rity<br />
of Art Under the Umbrel<strong>la</strong>s took another gigantic leap<br />
in <strong>2009</strong>/10. With each show presenting 60-80 exhibiting<br />
artists, live music and art demonstrations, at least<br />
25,000 attendees came out to experience these free<br />
public events along the closed off streets of Old Town La<br />
Quinta. Over 150 artists were provided the opportunity<br />
to exhibit at the Saturday events, each show with long<br />
wait lists and dozens more turned away due to <strong>la</strong>ck of<br />
space.<br />
La Quinta Blues & Brews<br />
November 21<br />
The third <strong>annual</strong> event was renamed<br />
(from Blues, Brews & BBQ) and<br />
relocated to La Quinta Civic Campus.<br />
The all day music festival featured<br />
three live Southern California Bands:<br />
Barry Baughn Blues Band, Pame<strong>la</strong> G &<br />
Blues Addiction, and Gino Matteo & Family Phunk. Over<br />
30 microbrew and artisan beers were offered, along with<br />
fare prepared and sold by Bristol Farms. An admission<br />
fee of $20.00 was charged at the gate. Tickets purchased<br />
online were discounted to $15, as were those with a<br />
direct mail card in hand which was sent to all<br />
households in La Quinta. Each admission ticket<br />
included $5 in beverage tickets. Paid attendance<br />
totaled 1,112 -- 300 of which were online purchases.<br />
La Quinta Museum Exhibitions<br />
LQAF gratefully acknowledges<br />
The Auen Foundation for their<br />
generous grant of $5,000 to assist<br />
with funding cultural programs<br />
that enrich the quality of life for<br />
senior citizens. Those funds were<br />
allocated to the production of<br />
two museum exhibitions and volunteer recognition.<br />
On Earth to Say<br />
November 6 – December 12<br />
Collections and Creations of David Salk and<br />
Photographs and Writings of George Wharton<br />
James (1858-1923) featured the impressive<br />
personal Native American basketry collection<br />
of prominent ceramist David Salk. Also<br />
included were Salk’s interpretations of these<br />
ancient designs in his artistic medium of c<strong>la</strong>y, along with period<br />
appropriate photographs and writings of local historic figure,<br />
George Wharton James. The complimentary opening reception,<br />
four lectures, and exhibits were attended by over 500 patrons.<br />
Sweet Spot<br />
December 22 – February 5<br />
Life’s Work of Renowned Golf Club<br />
Designer Mario Cesario and 50<br />
Years of Golf in the Desert. This<br />
exhibit was s<strong>la</strong>ted to run in<br />
concurrence with the Bob Hope<br />
C<strong>la</strong>ssic. The opening reception<br />
and peripheral events including a Round Table<br />
Discussion with Golf Greats at Silver Rock Resort,<br />
three lectures and an interactive program for<br />
children drew an estimated 550 attendees.<br />
Photography to Fashion<br />
January 17<br />
Invited to return for a third year,<br />
LQAF joined with Chico’s on El<br />
Paseo to present four outstanding<br />
photographers: Charley Akers,<br />
Bart Aldrich, Roger Isabell, and<br />
Gilbert & Kelly Ve<strong>la</strong>. LQAF<br />
volunteers serve as models of Chico’s <strong>la</strong>test fashions<br />
with 10% of the day’s proceeds generously donated<br />
to LQAF.<br />
Distinguished Artists of<br />
La Quinta Awards Ceremony<br />
May 21<br />
The City of La Quinta and LQAF<br />
honored two La Quinta resident<br />
artists, Jeweler Kathy Caldwell<br />
and Musician Charles L. Sullivan,<br />
with a reception held at La Quinta<br />
Library. This <strong>annual</strong> program<br />
recognizes La Quinta residents that have made a<br />
meaningful cultural impact to the community by<br />
engraving their names on a permanent monument<br />
on La Quinta’s Civic Center Campus.<br />
Art & Wine at Old Town Cel<strong>la</strong>r<br />
LQAF <strong>la</strong>unched a new summer<br />
event presenting a series of artists<br />
creating intimate galleries for four<br />
weeks at Old town Cel<strong>la</strong>r. Monthly<br />
First Tuesday Receptions feature<br />
complimentary wine tasting from<br />
a select vineyard paired with<br />
appetizers from a local eatery.<br />
The gallery artist selected for the<br />
kick-off event in June was Painter<br />
Rebecca Mo<strong>la</strong>yem. The artist<br />
reception featured wines<br />
sponsored by Zaca Mesa Winery.<br />
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<strong>2009</strong>-<strong>2010</strong> Outreach<br />
Visual Art Scho<strong>la</strong>rship Awards<br />
La Quinta Arts Foundation awarded $30,000 to 24<br />
talented students attending college during the<br />
<strong>2009</strong>/10 academic year. This amount includes $8,000<br />
Ryan Ramirez Memorial Scho<strong>la</strong>rship funding, plus<br />
Melville Keever and David Marks Memorial Funds.<br />
Since it was instituted in 1984, LQAF has awarded well<br />
over 600 scho<strong>la</strong>rships totaling $878,002 to students<br />
pursuing college degrees in the visual <strong>arts</strong>.<br />
LQAF CONGRATULATES THE FOLLOWING<br />
<strong>2009</strong>/10 AWARD WINNERS:<br />
FIRST-TIME SCHOLARSHIP RECIPIENTS (14):<br />
Justin Abercrombie – San Diego State University<br />
Maja Jerkic – San Francisco State University<br />
Tiffany Kantor – Art Institute of California<br />
Lina Kao – College of the Desert<br />
Alyssa Madison – College of the Desert<br />
Sydney Marguleas – Boston University<br />
Jessica May – University of Red<strong>la</strong>nds<br />
Leah Oakes – Cal State Northridge<br />
Jovani Olivares – Cal Arts<br />
Gardenia Ramirez – Cal State Fullerton<br />
Mikae<strong>la</strong> Rosvall – College of the Desert<br />
Pa<strong>la</strong>ma Santil<strong>la</strong>nes – College of the Desert<br />
Jessica Smith – College of the Desert<br />
Jaime Vil<strong>la</strong>neuva – College of the Desert<br />
RETURNING SCHOLARSHIP RECIPIENTS (10):<br />
Diana Childers – California State University, San Bernardino<br />
Amanda Emmett – College of the Desert<br />
Tristan Esmino – College of the Desert<br />
Julie Frenznick – California State University, San Bernardino<br />
Erin Hoy – University of California, San Diego<br />
Eryn Leja – Chapman University<br />
Carli McCas<strong>la</strong>nd – Nassau CC<br />
Robert Medina – College of the Desert<br />
Maxwell Weiner – University of Washington<br />
Sarah Williams – San Diego State University<br />
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Elementary School Docent Program<br />
La Quinta Arts Foundation’s Docent Art Program<br />
was provided free of charge to approximately<br />
1,380 fourth and fifth graders attending 46<br />
c<strong>la</strong>sses in 9 elementary schools in the Desert<br />
Sands and Coachel<strong>la</strong> Valley Unified School<br />
Districts during the <strong>2009</strong>/10 academic year. This<br />
program uses visual art principles and<br />
concepts to stimu<strong>la</strong>te critical thinking and<br />
creative expression in all academic disciplines.<br />
Eleven docents donated a total of 717 volunteer<br />
hours to this program in <strong>2009</strong>/10<br />
Adams Elementary (DSUSD)<br />
Carter Elementary (DSUSD)<br />
Cesar Chavez School (CVUSD)<br />
Franklin Elementary (DSUSD)<br />
Hoover Elementary (DSUSD)<br />
Reagan (DSUSD)<br />
Roosevelt (DSUSD)<br />
Truman Elementary (DSUSD)<br />
Washington Charter (DSUSD)
Volunteers the HeART of La Quinta Arts Foundation<br />
Volunteers<br />
La Quinta Arts Foundation<br />
Volunteers are crucial to the<br />
success of our programs<br />
and events. During <strong>2009</strong>/10<br />
Volunteers donated a<br />
total of 5,049 hours.<br />
Those individuals being<br />
recognized in this report<br />
have logged the most<br />
hours, or put forth extraordinary efforts for the Foundation.<br />
Board of Directors<br />
The Board of Directors constitutes a vital volunteer arm of<br />
LQAF donating time and resources to judiciously steward LQAF<br />
and serve as ambassadors throughout the year. The members<br />
of the <strong>2009</strong>/10 Board of Directors are listed previously in this<br />
report.<br />
La Quinta Arts Festival Volunteers<br />
251 Volunteers donated in excess of 3,122 cumu<strong>la</strong>tive hours<br />
during the year to prepare for and run the <strong>2010</strong> Festival.<br />
La Quinta Arts Festival <strong>2010</strong> Chairpersons were:<br />
Responsibility Chairperson<br />
Artist Reception Debi Brewer<br />
Artist Registration Jo-Anne Forrest<br />
Customer Pick Up Frank Handler<br />
Entrance East Kathy Fier<br />
Lois Lane<br />
Bill & Sue Rashford<br />
Entrance West Marge Dodge<br />
Shirley Wert<strong>la</strong>ke<br />
Exit West Lee Miller<br />
Ron Wendt<br />
Festival Concierges Diane & Steve Askew<br />
Jim Forneris<br />
Finance Carolyn Todd<br />
Golf Cart Driver Dave Benner<br />
Greeters Rhonda Larson<br />
Monica Powell<br />
Hospitality Barbara Jamtgaard<br />
Judge Guides Kathy Jonas<br />
Retail Carol Benner<br />
Fran Handler<br />
Festival <strong>2010</strong> Home Hosts<br />
26 Festival Artists had the benefit of home hosting, provided<br />
by the following supporters who opened their homes to<br />
artists during Festival week:<br />
Heather Beck<br />
Norine Beckstrom<br />
Tom & Sherry B<strong>la</strong>nkenship<br />
Brad & Chris Bower<br />
Bill & Kathy Caldwell<br />
Marilyn Castro<br />
Lynn Cherry<br />
Pat & Char Clel<strong>la</strong>nd<br />
Lori Currie<br />
Marge & Norm Dodge<br />
Julia Dowling<br />
Joan & Mel Freeman<br />
Sandy & Phyllis Hellman<br />
Greg & Ellen Hull<br />
Bonnie & Paul Kondor<br />
Barb & Jay Lifter<br />
Artist Advisory Board<br />
Made up of some of Festival’s most talented and respected<br />
artists, they provide assistance for Festival <strong>la</strong>yout, artist<br />
recruitment, the jury process, and offer guidance in all<br />
aspects of Festival p<strong>la</strong>nning. LQAF thanks the following Artist<br />
Advisory Board for their contributions to the <strong>2009</strong> Festival:<br />
Jim Babb Tom Barnes<br />
Jim Budish Joanne Casey<br />
Philippe Chambon Barbara Holloway<br />
Don McCoy A<strong>la</strong>n McNiel<br />
Jason Napier Dorothee Naumburg<br />
Leo Posillico Beverly Wilson<br />
Jerry Scavezze Mark Stephenson<br />
Fred Stodder<br />
Docents<br />
La Quinta Arts Foundation gives special recognition to the<br />
following docents for contributing 717 hours to the elementary<br />
school program.<br />
Pam Arnold Marilyn Blitz<br />
Peg Boortz Joan & Mel Freeman<br />
Lisa Herbst Marie Hunt<br />
Pat Moore Harry Schaffner<br />
Irv & E<strong>la</strong>ine Sitron<br />
Scho<strong>la</strong>rship Committee<br />
Scho<strong>la</strong>rship applications and art portfolios are submitted<br />
online beginning in February, and <strong>review</strong>ed by a scho<strong>la</strong>rship<br />
committee in April. Scho<strong>la</strong>rship <strong>2009</strong>/10 Committee<br />
Members are:<br />
Hovak Najarian, Ph.D - Professor Emeritus, Fine Arts,<br />
College of the Desert<br />
Mike Polk- Art teacher, retired<br />
Roy & Debbie Ramirez - Ryan Ramirez Memorial Fund<br />
Deborah Schwartz - Public Art Coordinator, City of Palm Desert<br />
Office Assistance<br />
Kathy Jonas<br />
Mike Bendon<br />
Festival Photographers<br />
Keith Bartelson<br />
Debi Brewer<br />
Sally McKenna<br />
Terry Quackenbush<br />
Bill & Susan Rashford<br />
Dori & Rupert Smith<br />
Shirley & Paul Wert<strong>la</strong>ke<br />
Linda Wolf<br />
Kay Wolff<br />
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Membership<br />
La Quinta Arts Foundation Memberships totaled<br />
$25,065 from 146 individual households during<br />
the <strong>2009</strong>/10 fiscal year.<br />
Community Support<br />
More than ever, mutually beneficial partnerships, col<strong>la</strong>boration<br />
and the generosity of local business, civic and charitable<br />
organizations are critical to sustain our mission. Over 60<br />
businesses and organizations partnered with, and/or<br />
contributed to LQAF in <strong>2009</strong>/10. These alliances validate and<br />
strengthen our respective significance in our community and<br />
we are very thankful to the following:<br />
Premier Sponsor, The City of La Quinta<br />
LQAF is most grateful to receive the continued support of City<br />
of La Quinta. LQAF entered into a Marketing Services Contract<br />
for $125,000 for the <strong>2009</strong>/10 season of activities, where the<br />
City was designated Premier Sponsor of LQAF events, and LQAF<br />
worked with the Community Services Department to present a<br />
host of cultural activities.<br />
Sponsors, Donors and Community Partners<br />
AAMONTE Bankcard<br />
American Style Magazine<br />
Amore Ristorante Italiano<br />
Arnold Palmer’s Restaurant<br />
Auen Foundation<br />
Bel<strong>la</strong> Vista<br />
Bristol Farms<br />
Burrtec Waste & Recycling Services<br />
Castelli’s Restaurant<br />
Chico’s, Palm Desert<br />
C<strong>la</strong>ssic Club<br />
C<strong>la</strong>ssic Party Rentals<br />
Cliff House, La Quinta<br />
Coldwell Banker - Orange County and Desert Regions<br />
David Isrealsky, La Quinta Vil<strong>la</strong>ge Center<br />
DesertArc<br />
The Desert Sun<br />
Desert Willow Golf Resort<br />
Devane’s Old Town<br />
Embassy Suites La Quinta Hotel & Spa<br />
Environmental Products & Applications, Inc.<br />
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Fantasy Springs Resort Casino<br />
FastFrame La Quinta<br />
Fresh & Easy P<strong>la</strong>za, High<strong>la</strong>nd La Quinta II<br />
Virginia Garbutt<br />
The Golf Club at Terra Lago<br />
Harry’s Ok<strong>la</strong>homa Style Smokehouse BBQ<br />
Heimark Distributing<br />
Hi-Lites Salon & Day Spa<br />
Robert Hill<br />
Hog’s Breath Inn La Quinta<br />
The Homestead Restaurant<br />
Marshall & Bonnie Hughes<br />
Indian Springs Country Club<br />
Integrated Wealth Management<br />
John F. Kennedy Memorial Hospital<br />
La Quinta Chamber of Commerce<br />
La Quinta Historical Society<br />
La Quinta Med Spa<br />
La Quinta Museum<br />
La Quinta Police Citizens On Patrol<br />
La Quinta Resort & Club<br />
La Quinta Rotary Club<br />
Lamar Outdoor Advertising<br />
Las Casue<strong>la</strong>s Quinta<br />
Lavender Bistro<br />
Law Offices of Frank J. De<strong>la</strong>ny<br />
Law Offices of Pistone & Wolder, LLP<br />
Lowes Hardware La Quinta<br />
Mountain View Country Club<br />
Ted Newell, NIS Yield Partners<br />
Old Town La Quinta<br />
Old Town Cel<strong>la</strong>r<br />
Rabobank<br />
Smith Family Trust<br />
South Valley Electric, Jeff Paige<br />
SouthwestArt Magazine<br />
Stuft Pizza Bar & Grill<br />
Summit Team<br />
Viva Cantina & Grill<br />
Wally’s Desert Turtle<br />
Westin Mission Hills Resort & Spa<br />
Zaca Mesa Winery<br />
Z Pizza
ASSETS<br />
La Quinta Arts Foundation<br />
Statement of Financial Position June 30, <strong>2010</strong><br />
Cash and Equivalents $ 1,299,211<br />
Scho<strong>la</strong>rship Funds 15,619<br />
Endowment & Facilities Reserve 3,198,822<br />
Other Current Assets 20,997<br />
Total Current Assets $ 4,534,649<br />
Equipment, Net $ 7,931<br />
TOTAL ASSETS $ 4,542,580<br />
LIABILITIES<br />
Accounts Payable $ 4,822<br />
Accrued Expenses 32,941<br />
Total Liabilities $ 37,763<br />
Net Assets $ 4,504,817<br />
TOTAL LIABILITIES AND NET ASSETS $ 4,542,580<br />
La Quinta Arts Foundation<br />
Statement of Activities and Changes in Net Assets June 30, <strong>2010</strong><br />
REVENUE<br />
Contributions and Grants $ 150,065<br />
Program Revenue 998,006<br />
Investment Income 143,153<br />
Other Revenue 6,984<br />
TOTAL SUPPORT AND REVENUE $ 1,298,268<br />
EXPENSES<br />
Program Expenses $ 786,793<br />
Scho<strong>la</strong>rship Expenses 10,875<br />
Administration Expenses 95,526<br />
Depreciation 5,582<br />
TOTAL EXPENSES $ 898,776<br />
Excess of Revenue over Expenses $ 399,492<br />
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