Center ends year on a high note

Center of Anna Maria Island

ANNA MARIA – The Center of Anna Maria Island’s fiscal year ended with cause for celebration. After years of financial struggles, the nonprofit ended another year in the black with $91,479.35 in the bank.

The Center’s fiscal year ended June 30. The end of year financials show net ordinary income from programs and fundraising at $166,222 before $99,743 in capital expenses and $25,000 in capital income from the surplus concession stand fund overseen by Manatee County commissioners, ending the year with $91,479.

For the entire fiscal year, July 1, 2018 to June 30, 2019, the financials show $1,057,445 in total revenue and $965,965 in total expenses.

Program revenue, before $293,844 in direct expenses, ended the year with $600,938, coming in at 10% over budget. Included in this category are membership fees, Island Fitness membership fees, registration fees, sponsorship donations, merchandise sales and donations from the three Island cities.

Program income, including income from camps, personal training, CrossFit and other specialty programming came in at $307,094.

Fundraising revenue ended the year at $431,507 with $110,817 in direct costs to end the year with $320,690 in income. Changes to the fundraising category for the 2018-19 fiscal year include moving the funds received from the three Island cities, budgeted at $46,000, from the fundraising column to the programs that the cities designated the funds for. Also noted are $130,000 in donations that were budgeted for and not received. Fundraising revenue came in at 14.2% less than the $502,715 budgeted.

The Center’s board of directors hopes to increase fundraising revenue in the 2019-20 fiscal year with the addition of new Director of Development Jim McDaniel. The board is expected to confirm the hiring of a new operations director and event coordinator.

Though the fiscal year ended more than a month ago, the end of year financial statements and a new budget have yet to be reviewed and confirmed by board members. Due to the summer months, the board has not met in two months because a quorum could not be reached. The budget for the 2019-20 fiscal year, which began July 1, and the 2018-19 end of year financials are expected to be discussed at an August board meeting. To view The Center’s financials, visit www.centerami.org.

Related coverage:

Anna Maria provides ongoing Center support

McDaniel joins Center team