Showcase December 2014 - page 49

49
DECEMBER 2014 / ANNUAL REPORT MINNESOTA ORCHESTRA
A
UGUST
31 A
UGUST
31
A
SSETS
2014
2013
C
URRENT
A
SSETS
Cash & Cash Equivalents
$4,895
$2,186
Contributions & Other Receivables
3,182
2,765
Prepaid Expenses & Other
670
875
Hall Renovation Pledges and Receivables
659
1,655
Total Current Assets
9,406
7,482
Long Term Pledges & Receivables
2,438
1,180
Long Term Hall Renovation Pledges
& Receivables
1,504
2,304
Total Long-Term Assets
3,942
3,484
I
NVESTMENTS
MOA Endowment
58,402
58,051
Beneficial Interest Held in Trust
Oakleaf
66,737
62,567
Building for the Future
24,921
14,586
Irrevocable Trusts
2,141
1,316
Hall Maintenance Fund
8,301
7,434
Other Investments
3,451
2,963
Total Investments
163,953 146,916
Hall Renovations
50,232
Hall Renovations Funds Held in Escrow
4,407
Capital Assets, Net of Depreciation
54,075
4,804
Leasehold Improvement Asset,
Net of Depreciation
409
461
Other Assets
531
531
TOTAL ASSETS
$232,316 $218,316
A
UGUST
31 A
UGUST
31
L
IABILITIES
& N
ET
A
SSETS
2014
2013
Current Liabilities
Accounts Payable & Accrued Expenses
$3,250
$2,323
Line of Credit
1,700
Notes Payable – Current Portion
9,250
Deferred Concert Revenue
2,803
1,631
Long-Term Liabilities
Long-Term Debt
1,690
10,940
Pension Liability
4,150
5,589
Leasehold Incentive Liability
409
461
Hall Renovation Accounts Payable
3,967
Hall Renovation Construction Debt
6,400
7,600
TOTAL LIABILITIES
$27,951 $34,212
Unrestricted Net Assets
Pension Plans
($4,150)
($5,589)
Operations
(24,876)
(24,226)
Total Operations & Pension Plans
(29,025)
(29,815)
Hall Financing, Capital Assets &
Charitable Annuities
49,167
50,783
Board-Designated Endowment
3,563
1,852
Total Unrestricted Net Assets
23,705 22,820
Temporarily Restricted Net Assets
8,636
4,471
Permanently Restricted Net Assets
172,025 156,813
TOTAL NET ASSETS
$204,365 $184,103
TOTAL LIABILITIES & NET ASSETS
$232,316 $218,316
Y
EAR
E
NDING
Y
EAR
E
NDING
A
UGUST
31 A
UGUST
31
2014
2013
R
EVENUE
, G
AINS
& O
THER
S
UPPORT
Operating Revenue
Ticket Sales & Service Income
$4,083
$ 45
Other Revenue
1,699
(31)
Total Concert &
Other Operating Revenue
5,782
14
Contributed Revenue
Contribution & Gifts
6,391
5,181
Oakleaf & St. Paul Fdn. Distributions
3,114
3,108
Symphony Ball
1,019
Total Contributed Revenue
10,523
8,289
Board-Designated Draws for Operations
4,513
3,695
T
OTAL
R
EVENUE
, G
AINS
& O
THER
S
UPPORT
$20,818 $11,997
E
XPENSES
Musician Salaries & Benefits
$7,297
$2,219
All Other Salaries & Benefits
6,098
5,689
Direct Concert Expense
3,322
486
Advertising & Promotion
1,046
616
Symphony Ball
390
Interest and Financing
548
550
Negotiations and Negotiations Related
480
885
Repayment of Grants Previously Received
for Specified Purposes
1,073
General Administration & Facility Operations
2,286
1,544
T
OTAL
E
XPENSES
$21,468 $13,063
NET OPERATING ACTIVITIES
$(650) $(1,066)
summary of operat ing resul t s
This is a summarized version of the financial statements audited by CliftonLarsonAllen LLP.
($000
OMITTED
)
summary of f inanc i a l pos i t ion
f inanc i a l overv i ew
EXPENSE BY ACTIVITY
INCOME BY SOURCE
Earned
Revenue
28%
Contributions
51%
Board-designated
Draws
21%
Program
72%
Administration
21%
Fundraising
7%
1...,39,40,41,42,43,44,45,46,47,48 50,51,52,53,54,55,56,57,58,59,...60
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