2011 ANNUAL REPORT - Chicago History Museum

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2011 ANNUAL REPORT Honor Roll of Donors The Guild of the Chicago History Museum Supporting the Guild Room and the North & Clark Café Mrs. Robert G. Anderson Mrs. T. Stanton Armour Mrs. Charles A. Ault III Mrs. Pamela Pierrepont Bardo Mrs. Peyton J. Barkley Mrs. James N. Bay Ms. Katharine L. Bensen Mrs. Stephen P. Bent Mrs. John H. Berchem Mrs. Ernest C. Billups Mr. and Mrs. Philip D. Block III Mrs. William A. Boone Mr. and Mrs. John J. Borland Jr. Mrs. Lloyd W. Bowers Mrs. Arnold F. Brookstone Mrs. William P. Carmichael Mrs. Robert Adams Carr Mrs. Jeffrey R. Carter Mrs. Robert Wells Carton Mrs. Silas S. Cathcart Mrs. Henry T. Chandler Mrs. Marc W. Christman Mrs. Jonathan D. Clair Elizabeth and Allison Clark Mr. and Mrs. Charles F. Clarke Jr. Marcia S. Cohn Ms. Nancy R. Corral Mrs. William A. Crane Ms. Susan E. Cremin Ms. Virginia M. Cudecki Ms. Carol Hedblom Currie Miss Diane Curtis Mr. and Mrs. Robert J. Darnall Mr. and Mrs. David W. Devonshire Mrs. Stewart S. Dixon Mrs. Sally S. Eklund, Geraldi Norton Foundation Mrs. Samuel Ellis, The James Huntington Foundation Mrs. Behrooz A. Eshaghy Mr. and Mrs. Richard K. Frey Mrs. Stephen B. Friedman Madelon R. Fross Mrs. W. Kent Fuller Mrs. John A. Furr Mrs. Isak V. Gerson Mr. and Mrs. Paul C. Gignilliat Dr. Vicki M. Greene Dr. and Mrs. Anthony R. Grosch Mrs. Charles C. Haffner III Dr. and Mrs. Donald H. Haider Mrs. Chalkley J. Hambleton Jr. Mrs. Augustin S. Hart Jr. Mrs. O. J. Heestand Jr. Mr. and Mrs. Quentin G. Heisler Jr. Mrs. Robert Herbster Mrs. Arnold Horween Jr. Mr. and Mrs. R. Thomas Howell Jr. Mrs. Thomas D. Hoyt Mrs. Roger B. Hull Mr. and Mrs. William B. Hummer Mrs. Leland W. Hutchinson Jr. Mrs. Sue Barnett Ish Mrs. George S. Isham Mrs. William R. Jentes Ms. Doris J. Johnson Mrs. W. Bruce Johnson Mr. and Mrs. Gary C. Jones Ms. Cynthia A. Kalnow Ms. Patricia Kaplan Mrs. Byron C. Karzas Mr. and Mrs. Gaynor N. Kelley Mrs. S. Warner Kenly Mrs. John J. Kinsella Mrs. Linda M. Kohut Mrs. Joseph A. Konen Sr. Mrs. John Krenger, Sanctuary Farms Ms. Joyce Leavitt Mrs. Charles P. Leffel Mrs. Christopher M. Lehman Mrs. Jay A. Lipe Mr. and Mrs. D. Scott Maentz Mrs. John Jay Markham Ms. Bonita F. Marx Ms. Jeanne P. Mayes Mrs. Robert Newberry McCreary Mrs. Paul T. McDermott Mrs. Mary Mix McDonald Mrs. Michael T. McDonnell Mrs. Neil McKay Mrs. Peter W. McKinney Mr. and Mrs. James M. McMullan Mr. and Mrs. Andrew McNally IV Mrs. Samuel E. McTier Ms. Ann S. Merritt Ms. Erica C. Meyer Mrs. Lee F. Meyer Mrs. Charles L. Michod Jr. Ms. Rhoda Ann Miller Mrs. Samuel Morasca Jr. Mrs. Nicholas Nicolandis Mrs. Edward U. Notz Mrs. John K. Notz Jr. Mrs. William F. O’Connor Miss Lynn Orschel Mrs. Elliott N. Otis Mrs. Rodger A. Owen Mrs. John R. Pacholick, Cynthia Wade Interiors Mrs. Jerry K. Pearlman Dr. and Mrs. Edward S. Petersen Ms. Karen V. Peterson Mrs. Charles A. Pollock Mrs. Charles S. Potter Mrs. Paul Predick The Quaker Oats Company Mrs. Tobin M. Richter Mrs. John W. Robinson Mrs. Thomas I. Rodhouse Miss H. Cary Ross Mr. and Mrs. Patrick G. Ryan Sally Mead Hands Foundation Mrs. Robert E. Sargent Ms. Katherine M. Saville Mrs. Richard S. Schmidt Mrs. William L. Searle Mr. and Mrs. Gordon I. Segal Mrs. Richard J. L. Senior Mrs. Thomas C. Sheffield Jr. Ms. Margaret Snorf Mrs. Sarah D. Sprowl Mrs. Eric H. Steele Mrs. Russell Stelle Liz Stiffel Mr. and Mrs. Harvey J. Struthers Jr. Mrs. Robert S. Study Margaret M. Swift & Co. Mrs. Steven Z. Szczepanski Mrs. Thomas J. Tausché Mrs. John W. Taylor III Mrs. Ralph D. Teich Mr. and Mrs. James W. Thornton Mrs. Glenn F. Tilton Mrs. Eleanor W. Tippens Mrs. James M. Trapp Mrs. Charles A. Tribbett Mrs. Howard J. Trienens (In Memoriam) Mrs. and Mrs. Peter E. Van Nice Mrs. Jonathan A. Veeder Mrs. John C. von Leesen Ms. Mary T. Wachowski Mrs. Thatcher Waller Mrs. John R. Walter Mrs. Hempstead Washburne Mr. and Mrs. Roderick S. Webster, Winona Corporation Mrs. W. Raymond Webster Mrs. Edward R. Weed Mr. and Mrs. Morris S. Weeden Mrs. William C. Weinsheimer Mrs. John R. Weiss Mrs. Joan Werhane Mrs. Steven E. Wollack Mr. and Mrs. Steven Wysham Mrs. George B. Young Mrs. Sheldon A. Zabel Mr. and Mrs. Robert Zentner main menu 28
2011 ANNUAL REPORT Treasurer’s report As with most museums, these extraordinary economic times continued to pose challenges in generating adequate funding to support day-to-day museum operations. At the Chicago History Museum, and again this past year, these challenges were met with creativity and fiscal discipline that resulted in positive financial results for fiscal year 2011. Necessary shifts in operating plans were made, adjusting activity to the availability of resources throughout the fiscal year. In doing so, the Chicago History Museum generated a modest operating surplus of $58,905 for the year ended June 30, 2011. Through the generosity of our annual fund donors, contributions raised exceeded the goal set for the year by 10%. In line with our expectations for the year, total operating revenues declined by 4%, primarily in investment income available for operations. As of June 30, 2011, net assets increased from $53,589,309 to $60,890,492, an increase of 13%. While the volatility in the financial markets still exists, there was marked improvement in the value of the institution’s investments, an increase of $6,006,339, representing a total return of 15%. Another factor contributing to the increase in net assets was a positive change in the market value of an interest rate swap agreement of $2,475,736. This change is also represented in the decrease in total liabilities of $2,735,072 along with a reduction in accounts payable. In prior fiscal years, the Chicago History Museum financial reports were consolidated with Lincoln Park Society results, a partner organization formed to operate a parking facility for museum visitors and the general public. In fiscal year 2011, there was a deconsolidation of the financial statements and a transfer out of a net deficit of ($2,840,609). The financial information represented in the following charts reflects data for the Chicago History Museum, after that transfer was recorded. We look forward to a strengthening economy, not only for its impact on our bottom line, but for our members, contributors and supporters, and the public that we serve. Their future generosity will be critical for us to continue providing the level and quality of services the public expects and deserves. We appreciate the dedication of our staff, their efforts, and their patience as we move ahead on our critical path. While the uncertainty in the economy remains, our primary fiscal goals for the future continue to be investing in core mission activities, implementing new strategic initiatives when feasible, and protecting the future financial stability of the institution. The fiscal year results and financial position are presented in the following graphics. The financial statements have been audited by Grant Thornton LLP, independent certified public accountants, and their report contains no exceptions or qualifications as to financial position and results of operations. You may request a copy of the full audited report from the Finance and Accounting Office at the Chicago History Museum. Patrick Dolan Treasurer main menu 29
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2011 ANNUAL REPORT - Chicago History Museum

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