AnnualReport - Count Basie Theatre

Count Basie Theatre, Inc. and Count Basie Theatre Foundation, Inc.Combined Statements of Financial PositionFor the years ending June 30, 2008 and 2007Count Basie Theatre, Inc. and Count Basie Theatre Foundation, Inc.Combined Statements of ActivitiesFor the years ending June 30, 2008 and 2007ASSETS 2008 2007Current AssetsCash and Cash Equivalents $3,578,568 $1,475,144Accounts Receivable 28,259 49,559Unconditional Promises to Give 1,035,456 453,760Inventory and Prepaid Expenses 26,142 42,005Total Current Assets 4,668,425 2,020,468Unconditional Promises to Give 423,803 -Property and Equipment, At Cost, 4,041,758 3,142,523Net of Accumulated DepreciationTotal Assets $9,133,986 $5,162,991LIABILITIES AND NET ASSETSLiabilitiesCurrent LiabilitiesMortgage and Note Payables $69,663 $92,968Accounts Payable and Accrued Expenses 373,456 289,787Salary, Payroll Taxes and Union Benefits Payable - 70,996Accrued Vacation 48,427 35,549Deferred Income 616,670 1,339,191Total Current Liabilities 1,108,216 1,828,491Mortgage and Note Payables - 190,843Security Deposits Payable 700 2,400Total Liabilities 1,108,916 2,021,734Commitments and ContingenciesNet AssetsUnrestrictedFixed Assets 2,938,273 2,798,712Other 654,592 169,902Total Unrestricted 3,592,865 2,968,614Temporarily Restricted 4,372,205 112,643Permanently Restricted 60,000 60,000Total Net Assets 8,025,070 3,141,257TOTAL LIABILITIES AND NET ASSETS $9,133,986 $5,162,991PUBLIC SUPPORT AND OTHER REVENUE 2008 2007Public SupportGovernment $228,325 $94,109Individuals $300,219 $239,426Foundations $249,253 $20,500Corporate $1,485 $24,003Fundraising Benefits $3,139,467 $825,701Less: Direct Costs of Fundraising Benefits ($195,374) ($298,599)Total Public Support $3,723,375 $905,140Other RevenueBox Office Income $3,321,445 $2,796,997Concession Income (Net of Cost of Goods Sold) $269,395 $239,060Theatre Rental Income and Reimbursed Expenses $899,114 $785,830Workshop Income $241,653 $184,587Advertising Income $126,762 $120,408101 Monmouth Street Rental Income $33,560 $52,770Interest Income $76,536 $58,878Other Income $457 $1,038Total Other Revenue $4,968,922 $4,239,568Total Public Support and Other Revenue $8,692,297 $5,144,708EXPENSESProgram Services $4,597,083 $4,010,897Supporting ServicesManagement and General $347,317 $594,971Fundraising $714,594 $538,751Total Supporting Services $1,061,911 $1,133,722Total Expenses $5,658,994 $5,144,619Increase (Decrease)In Net Assets Before Capital Contributions $3,033,303 $89Capital ContributionsGovernment $672,827 $143,934Individuals $279,298 $601,329Foundations $858,285 -Corporate $40,100 $35,000Total Capital Contributions $1,850,510 $780,263The Count Basie Theatre’s fiscal year ends on June 30, and the annual auditcommences one month later, after the June bank statements have arrived and beenreconciled. The audit takes about two months to complete, and is formally presented tothe Board of Trustees at their September meeting. Preparation, printing and distributionof the Annual Report follows immediately, and takes about one more month to complete.A complete copy of the 2008 Financial Statements audited by the independent accountingfirm of Fried and Kowgios Partners, CPA’s, LLP is available on request from thetheatre’s administrative office.Increase (Decrease) in Net Assets $4,883,813 $780,352Net Assets, Beginning of Year $3,141,257 $2,360,905NET ASSETS, END OF YEAR $8,025,070 $3,141,25723