Annual Report to Donors 2008 - Interlochen Center for the Arts

Annual Report Statement of Activities and Changes in Net Assets
Permanently
Restricted
Endowment
Funds
Unrestricted Temporarily Restricted
May 31, 2008
Total
Plant
Funds
General
Funds
Scholarship
Funds
Total
Unrestricted
Designated
Funds
Operating
Funds
$ 26,299,405
$ -
$ -
$ -
$ -
$ 26,299,405
$ -
$ 26,299,405
-
(6,557,480)
19,741,925
-
-
-
-
-
-
(8,310)
-
(8,310)
(3,331,847)
-
(3,331,847)
3,340,157
(6,557,480)
23,082,082
(25,842)
-
(25,842)
3,365,999
(6,557,480)
23,107,924
REVENUES AND OTHER ADDITIONS:
Gross tuition and student fees
Assets release from restrictions—operating item—
financial aid
Less financial aid grants
Net tuition and student fees
1,905,679
927,970
1,788,752
12,581,014
(858,933)
-
1,574,354
37,660,761
-
-
-
1,564,692
-
-
-
1,564,692
-
-
-
1,972,482
(59,603)
-
12,725
1,925,604
-
-
-
568,471
(35,315)
-
65,664
590,510
-
-
-
2,613,508
(314,495)
(452,187)
126,518
(1,358,503)
1,905,679
927,970
1,788,752
5,861,861
(449,520)
452,187
1,369,447
34,938,458
-
-
-
4,696,613
(422,496)
-
711,816
4,960,091
1,905,679
927,970
1,788,752
1,165,248
(27,024)
452,187
657,631
29,978,367
Ticket sales
Lodging
Retail sales
Contributions and grants
Net loss of investments
Endowment allocation
Other revenues
Total revenues and other additions
1,280,967
1,082,091
2,363,058
-
-
-
-
-
-
4,250
-
4,250
-
-
-
1,276,717
1,082,091
2,358,808
-
-
-
1,276,717
1,082,091
2,358,808
COST OF GOODS AND SERVICES:
Artist fees
Cost of goods sold
Total cost of goods and services
11
18,271,541
903,045
1,031,069
1,489,759
639,272
172,376
854,933
239,301
377,692
219,845
24,198,833
-
-
-
-
-
-
-
-
-
-
-
-
955
83,721
366
-
-
3,850
-
(26)
88,866
93,627
-
14,259
85,698
-
1,100
-
1,160
1,288
950
198,082
-
-
-
-
-
-
-
-
-
-
-
18,177,914
903,045
1,015,855
1,320,340
638,906
171,276
854,933
234,291
376,404
218,921
23,911,885
3,130
-
43,897
332,321
109,786
2,100
-
-
-
191,430
682,664
18,174,784
903,045
971,958
988,019
529,120
169,176
854,933
234,291
376,404
27,491
23,229,221
COST OF OPERATIONS:
Salaries, wages and benefits
Food costs
Contracted services
Supplies
Repairs and maintenance
Leases and rents
Utilities
Insurance
Telephone and postage
Other operational
Total cost of operations
594,730
699,260
465,150
813,055
311,219
2,883,414
-
-
-
-
22,618
22,618
-
-
-
-
90
110,632
-
-
16,233
126,955
-
-
-
-
-
-
594,640
588,628
465,150
813,055
272,301
2,733,774
-
12,344
199,148
812,315
28,184
1,051,991
594,640
576,284
266,002
740
67
67
244,117
1,681,783
29,445,305
22,618
88,933
329,287
-
29,004,467
1,734,655
27,269,812
GENERAL AND ADMINISTRATIVE:
Marketing
Travel and entertainment
Professional services
Interest
Other
Total general and administrative
Total expenses before depreciation
and board-designated expenditures