Jun 202014
 

Total operating revenues for 2013 were $23,903. Expenses of $20,943 resulted in an operating surplus of $2,960, versus a budgeted loss of $4,575. The biggest factors: Membership Dues were almost $20,000 which is about $2,000 over last year and $4,500 over budget and Education & Land expenditures were about $2,500 under budget.

Marblehead Conservancy, Inc.
Summary Financial Report | January 1 – December 31, 2013

Operating Income

Membership Dues
Contributions
Sales (books, shirts, etc.)
Transfer – Trails Endowment
Transfer – Harbor Glade Grant
Interest, Dividends, Other
Total Operating Revenue
$19,743
1,463
2,204
– 0 –
400
93
$23,903

Operating Expenses

Trails Projects
Cost of Goods For Sale
Education Projects
Office and Administration
Insurance
Legal
Miscellaneous
Total Operating Expense
Operating Surplus (Deficit)
$8,402
4,417
383
2,627
3,304
– 0 –
1,810
$20,943
$2,960

Statement of Condition: December 31, 2013

Operating (unrestricted) Assets:

Operating Funds
Liabilities
Net Operating Assets
$43,744
-0-
$43,744

Restricted Assets:

Trails Endowment
Lead Mills Fund
Harbor Glade Grant
Total Restricted Assets
Total Net Assets
$162,963
– 0 –
6,939
$169,902
$213,646

We budget conservatively and frequently find ourselves with a better net revenue result than
planned. However, we do not feel this prevents us from undertaking programs that we might otherwise do.

We had a 4th printing of Discovering Marblehead for 200 more books, bringing the total since first published in 2001 to 3,300 copies.

The market performance of the Marblehead Trails Forever Endowment Fund was plus almost 25%,
ending the year at $162,963 up from last year-end’s $130,444. This was primarily due to the excellent year for US equities. The Fund is about 94% invested in broad equity funds and 6% in bond and money market funds. All our non-endowment funds ($50,683) are in bank deposits or money market funds.

The Conservancy continues to be in sound financial condition.

– Don Morgan, Treasurer

 Posted by at 4:16 pm

 Leave a Reply

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

(required)

(required)