Download the 2007/2008 - Boca Raton Museum of Art

F I N A N C I A L R E P O R TBOCA RATON MUSEUM OF ART, INC. AND SUBSIDIARIESCONSOLIDATING STATEMENT OF FINANCIAL POSITIONAPRIL 30, 2008REVENUE AND GAINSContributions $ 2,033,060 $ $ 131,024 $ $ 2,164,084Memberships 329,336 329,336Grants 1,475,877 (931,400) 544,477Museum store 257,845 257,845School 1,057,879 1,057,879Rental income 19,037 848,742 867,779Exhibits income 414,783 414,783Fundraising events 712,196 712,196Interest income 30,182 873 28,626 59,681Dividend income 83,543 83,543Realized and unrealized gains 213,490 213,490Other income 77,080 360 1,294 78,734Change in value of interests in trusts 23,368 23,368EXPENSESProgram servicesTOTAL REVENUE GAINS $ 6,407,275 $ 849,975 $ 481,345 $ (931,400) $ 6,807,195Curatorial and exhibit $ 3,138,385 $ $ $ $ 3,138,385Education 413,662 413,662School 1,058,668 1,058,668Grant expense 831,400 100,000 (931,400) 0Support servicesBoca Raton Museumof Art, Inc.Museum CenterCorp.Boca MuseumFoundation, Inc.General and administration 462,725 49,204 51,264 563,193Development and fundraising 547,908 547,908Promotion and marketing 216,973 216,973Museum store 334,448 334,448TOTAL EXPENSES $ 6,172,769 $ 880,604 $ 151,264 $ (931,400) $ 6,273,237INCREASE (DECREASE) IN NET ASSETS 234,506 (30,629) 330,081 0 533,958NET ASSETS AT THE BEGINNING OF THE YEAR 12,031,471 2,083,961 3,283,063 (3,755,734) 13,642,761NET ASSETS AT THE END OF YEAR $ 12,265,977 $2,053,332 $3,613,144 (3,755,734) $ 14,176,719Note: The consolidated financial statements have been audited by an independent accounting firm.Consolidating& EliminatingEntriesConsolidatedAt A Glance13 — Temporary Exhibitions143,410 — Total number of visitors9,793,030 — Total Web site hits$375,000 — Total value of in-kindcontributions32 — Full-time and part-time employees8,250 — Volunteer hours6% — Increase of enrollmentat The Art School$25,000 — Total value of direct supportreceived from the City of Boca Ratonfor Degas in Bronze exhibitionDistinguished AwardsPalm Beach County School DistrictOutstanding Business Partnership AwardBoca Raton Magazine’s Best of Boca andBeyond AwardBoca Life Magazine’s Best Introduction to ArtWPBF 25 A-List Award WinnerFlorida Print Judges Catalogue Awardfor Trujillo Art CatalogueFlorida Print Judges Book Awardfor Trova Retrospective Art CatalogueBroward Palm Beach New TimesBest Group ExhibitionThe Palm Beacher Magazine’s BestArt ExhibitionGold Coast Magazine’s Best Art ExhibitionBOCA RATON MUSEUM OF ARTANNUAL REPORT 24