WCS Annual Report 2012 - Wildlife Conservation Society

financial report
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The last decade has been a period of transformation and growth for the Wildlife
Conservation Society. At the same time, we stayed true to our commitment to maintain
positive operating margins and set aside funds each year to support our increasing
plant infrastructure and technology needs. We closed the 2011-12 Fiscal Year with
operating revenues totaling $223.3 million – $15 million and 7 percent higher than
the prior year. Operations ended the year with a small surplus of $1.7 million for
the ninth consecutive year of positive results.
Our investments in programmatic and fundraising leadership
and capacity-building in species, landscapes, science, and global
wildlife health are achieving measurable results and increasing
sustainable funding. Programmatic support from private contributions,
federal agencies, foreign aid, and multi/bilateral funding
have likewise fueled continued growth in education, global conservation,
zoo-based programs, and wildlife health.
In Fiscal Year 2012, contributions and grants from individuals
and foundations, federal and state agencies, foreign aid, and multilateral
organizations totaled $98.5 million, a healthy 4 percent
increase from the prior year. These sources provided 44 percent
of all operating revenue. Federal grant support of our global
programs through the United States Agency for International
Development (USAID), the U.S. Fish and Wildlife Service (USFWS)
and other agencies totaled $31.6 million, nearly eight times the
funding received from these sources a decade ago.
The establishment of WCS-Europe and the opening of a Brussels
office have created new opportunities with European donors and
agencies. The development of the WCS Species Program, which
links global conservation with zoo-based programs, is also creating
new revenue sources for WCS.
We have continued to focus on earned revenue growth by increasing
park attendance and income through our new operating
model focused on improving the visitor experience. In Fiscal Year
2012, WCS attendance increased 11 percent (436,000) above last
year to 4.47 million visitors. This was in line with projections,
thanks in part to extremely favorable weather throughout winter
and spring. Income from gate admissions, exhibits, membership,
and visitor services (food, merchandise, and parking) grew 14
percent and exceeded $75 million. This success is the product of
on-line marketing, discounting, and promotion of higher value
tickets and memberships. Audience-driven revenue sources were
one third of total operating income in Fiscal Year 2012.
WCS is using business intelligence and consumer research to
maximize admission and other audience-driven revenue, while
supporting free visitation times at the Bronx Zoo and the New
York Aquarium. Per capita earned revenues continue to increase,
particularly at the Bronx Zoo, thanks to a proactive pricing
strategy and sales management in the park and online. Membership
is a key part of this initiative and results have been positive,
with strong growth in online activity.
The City of New York provided a total of $22.1 million for zoo
and aquarium operations, $1.6 million less than the prior year.
This is due to improved earned income at the City Zoos, which
reduced the Department of Parks and Recreation’s reimbursement
commitment by $1.2 million compared to last year. This represents
a continued trend of lower costs for the city thanks to WCS’s
active pricing, revenue strategies, and tight expense management.
The lower value of utilities provided by the city for the Bronx Zoo
and the New York Aquarium also contributed to the variance.
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financial report