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Celtic Arts Foundation

Celtic Arts Foundation. Annual General Meeting Annual Report January 8, 2016. What a difference a couple of years can make!. January 7, 2014. January 9, 2015. Late December, 2015. January 9, 2015. With profound & heartfelt thanks to:.

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Celtic Arts Foundation

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  1. Celtic Arts Foundation Annual General Meeting Annual Report January 8, 2016

  2. What a difference a couple of years can make!

  3. January 7, 2014

  4. January 9, 2015

  5. Late December, 2015 January 9, 2015

  6. With profound & heartfelt thanks to: CAF “Standing Stone” donors – contributing $1000 or more Laura & Edmund Wattis Littlefield, Jr. Total contribution to project: $1.82m

  7. Our CAF Board

  8. The BEST volunteers ever!

  9. Donors, CAF Members, Event Sponsors & Friends

  10. Key Results of CAF for 2015 • Littlefield Celtic Center (LCC) completed and paid for (no debt). • Additional fundraising success, most significantly $245,000 from Murdock Charitable Trust. • Increased investment reserves almost 75% (from $42K to $73K) • Successfully completed all planned programs • Expanded US work visa program for BC Pipers’ Association. • Implemented new event software. • Increased membership and initiated new LCC activities.

  11. Balance Sheet Highlights- DRAFT - Assets: 20152014 Cash and Bank Accounts: $ 145,564 $1,366,383 Investments: $ 74,152 $ 42,321 A/R & Prepaid Expense: $ 17,321$ 4,900 Total Current Assets: $ 237,037 $1,413,604 Property & CAF Building: $2,221,760 $ 738,112 Accumulated Depreciation: ($ 49,198) ($ 12,158) Total Assets: $ 2,409,599$2,139,558

  12. Balance Sheet Highlights - 2 20152014 Liabilities (Total liabilities): $ 765 $ 657 Equity: Temp. Restricted Assets $ 29,199 $ 18,209 Unrestricted Net Assets: $ 2,108,598 $ 404,070 Other Comp. income:$ 178 $ 631 Net Income $ 264,862$ 1,715,990 Total Equity: $ 2,402,836 $ 2,138,901 Total Liabilities & Equity $ 2,403,601$ 2,139,558

  13. Operating Statement Highlights- DRAFT - • Revenue: $ 832,715 • Foundation and Trusts: $ 446,000 (54%) • Direct support (donations): $ 45,664 ( 5%) • Government Grants: $ 10,180 ( 1%) • Interest/Investment income: $ 1,745 (<1%) • Membership: $ 8,159 ( 1%) • Program: $ 289,702 (35%) • Whisky event: $ 23,510 ( 3%) • Sales of merchandise: $ 8,189 ( 1%)

  14. Operating Expenses • Employees & Contractors: $139,342 • H. Games awards/judges: $ 26,198 • Mission related expenses: $ 6,705 • Special events costs: $ 35,699 • Facilities expenses: $109,009 • Performers costs: $ 93,910 • General operating expense: $146,432 • Includes depreciation • Vol. recognition/mtng exp.: $ 4,562 Total Expenses: $561,857

  15. So the financial bottom line is… • The Celtic Arts Foundation has developed a strong Balance Sheet. (No money, no mission!) • For the 11th straight year, CAF has generated a surplus from operations. • We own the property and building at 1124 Cleveland Avenue outright; and are building financial reserves • Focus on organizational development and careful planning and implementation of systems for coordinated and strategic growth.

  16. And our mission “bottom line…” • Expanding Celtic musical and cultural activities (slowly, strategically and carefully!). • Producing world-class performances. • Encouraging and promoting our culture and heritage in formal and informal ways!

  17. Commitment to Sustaining CAF • James “Doc” Monroe Endowment fund • The need for donors of ALL capacities to continue supporting our work • Major donor commitments to assist in the funding of operations • Planned giving and other programs are being established • Balancing mission programs and opportunities with financial realities • Pursuit of grants and opportunities consistent with our purpose

  18. What’s in store for the LCC in 2016? • Programs, sessions and fun! • 25th Robert Burns Event, Saturday, January 16th • Cape Breton Night, Thursday, February 18th

  19. Masters of Scottish Arts Concert at Benaroya Hall in Seattle Friday, February 12 at 7:30pm. “Flying Scotsman” transportation available!

  20. Our 22nd annual Highland Games among other things! • “Usual” major events are scheduled for 2016 • Aforementioned special events • Celtic Arts Winter School programs in February • Skagit Valley Highland Games July 9-10 • Numerous new concerts and programs here at LCC

  21. How you can help in 2016 • Attend our events, and bring a friend! • Volunteer! • Continue financially supporting CAF!

  22. Questions, suggestion & ideas

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