2010 Annual Report - Interlochen Center for the Arts

Fiscal Year 2010 Finances in Review
T
he report of finances for fiscal year 2010 ( June 1, 2009 – May 31, 2010), as developed by our external
auditors, Plante & Moran, P.L.L.C., details a successful year for Interlochen Center for the Arts.
OPERATING BUDGET
Revenue: $31,497,776 (up 6.4% from Fiscal Year 2009)
Expenses: $28,289,358 (down 2.4% from Fiscal Year 2009)
FUNDRAISING
Interlochen Fund: $2,090,924
Interlochen Public Radio: $1,222,064
Total giving, including endowment and capital funds: $4,649,399
Total number of donors: 8,933
STUDENT ENROLLMENT
Interlochen Arts Camp:
2,460 students from 54 U.S. states and territories and 44 countries
Interlochen Arts Academy:
468 students from 48 U.S. states and territories and 25 countries
SCHOLARSHIPS
Interlochen provided a record $8.9 million in financial assistance to Interlochen students
Government Support:
Michigan Council for Arts and Cultural Affairs (General Operating Support): $ 20,000
Corporation for Public Broadcasting (Interlochen Public Radio): $269,058
Comprehensive financial reports may be found on page 8 through12 of this report.
Complete audited financial statements are available online at www.interlochen.org/support
or by calling our advancement office at 231.276.7623.
What Sets Interlochen Apart?
T
he past year has been a successful one for Interlochen Center for the Arts. We met enrollment goals
for Interlochen Arts Camp and Academy. Our performance series generated its highest net revenue in
history, while auxiliary sales (lodging, food, clothing and gifts) remained stable or increased. Ticket sales
and auxiliary income directly support our scholarship program; strong performance in these areas helped
Interlochen meet the increased demand for financial assistance required by families this year. For the
third year in a row, IPR was named “Public Radio Station of the Year” by the Michigan Association of
Broadcasters.
Perhaps most importantly, Interlochen did not reduce or cut any core programs, people or salaries.
Interlochen has remained stable during volatile times because the Interlochen community has remained
stable: families have invested in a world class arts education for their children, and donors have continued
to recognize the importance of our mission in arts education, presentations and broadcasting.
At a time when nonprofit organizations are facing extraordinary challenges, Interlochen has continued
to grow – strengthening our operations and extending our achievements. Several factors have helped us
chart a steady course during times of uncertainty:
Flight to known quality during difficult times.
Research has shown that people are hesitant to invest in
unknown institutions during times of economic turmoil.
As one of the oldest and most respected arts education
programs in the nation, Interlochen has benefited from a
long history of innovation and success.
Significant growth in visibility through web and online
media. Until the early 2000s, Interlochen had no web
presence and limited communications technology.
We have invested significantly in online communications
at precisely the right time. Our national webcasts and
strong web videos help parents, friends and prospective
students recognize the value of an Interlochen education.
Synergy of core programs. We have worked hard to build
strong synergies between Interlochen’s core programs.
Our summer Arts Camp, high school Academy, adult
education, public broadcasting and year-round performance
programs are all related in purpose and intent.
National and international recruiting pool. Interlochen is
fortunate in that we draw from a national and worldwide
pool of students – helping us overcome geographic boundaries
that limit other institutions.
All arts, all ages. While some organizations are specific
to one art form or one age group, Interlochen provides
comprehensive offerings across six disciplines (music,
theatre, dance, visual arts, creative writing and film) and
serves all ages – from 8 to 80 and beyond.
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