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Home My WebLink About2021-09-16 Agenda Airlie Gardens Foundation September 16, 2021 Board Meeting Agenda Mark Tyler, President Hank Estep, Vice Chair Bonnie Nelson, Treasurer Coo Hocker, Secretary Tara Duckworth, Director of Parks and Gardens MISSION To ensure and help preserve Airlie Gardens as an outstanding, historic public garden with cultural and environmental programs developed to serve New Hanover County residents and other visitors. September 16, 2021; 8:15 am: Airlie Cottage (896 Airlie Road) Meeting Called to Order Mark Tyler, President Recurring Consent Agenda Items of Business 1. Approval of the August Minutes Regular Agenda Items of Business 1. 2. Bonnie Nelson, Board Treasurer a. Audit Earney & Company b. Financial Update for period ending August 31, 2021 3. 4. Development/Marketing & Outreach Report: Janine Powell 5. Other Business: All Board Members Next Meeting: October 21, 2021 AIRLIE GARDENS FOUNDATION BOARD PAGE 2 REGULAR MEETING AUGUST 19, 2021 ASSEMBLY th The Airlie Gardens Foundation Board met in Regular session at the Airlie Cottage on Thursday, August 19, 2021, at 8:15 a.m. Present: Mark Tyler (presiding), Mike Creed, Hank Estep, Charlie Rivenbark, Bonnie Nelson, Sandra Ray, Commissioner Rob Zapple, Shane Johnson, and Teddy Davis. Excused: Eric Blaesing, Ted Davis, Jr., Coo Hocker and John Russ. Staff: Scott Childs, Tara Duckworth, Bonnie Derks (Intern), Andy Johnson, Rebecca Pearce, and Janine Powell. WELCOME AND APPROVAL OF MINUTES. Mark Tyler called the meeting to order and welcomed back Sandra Ray and new board member Shane Johnson. He then asked if there were any changes or corrections to the minutes of the June meeting. Sandra Ray pointed out a discrepancy in the motion for the approval of the motion for the budget. It was noted, and the following motion was presented: th MOTION: Teddy Davis MOVED; SECONDED by Charlie Rivenbark, that the minutes of the June 17 meeting be approved with the correction of the motion for the approval of the audit. (Note: The minutes were corrected prior to the meeting but an incorrect copy was handed out). Upon vote, the MOTION CARRIED UNANIMOUSLY. 1. Mark welcomed those in attendance. He shared with the board that Deb Hays term on the board ended with the June meeting. She will be given a token of appreciation for her years of service. Also shared that filming is taking place currently in the gardens and Oyster Roast tickets are on sale with less than 250 left out of 700. Garden is busy with the owl exhibit and weddings have picked up as well. He then presented the following slate of nominees provided by the Executive Committee: Vice Chair Hank Estep Treasurer Bonnie Nelson Secretary Coo Hocker Those present agreed with the slate of nominees as presented and the following motion was brought forth: MOTION: Teddy Davis MOVED; SECONDED by Michael Creed, that the slate of nominees be approved as presented. Upon vote, the MOTION CARRIED UNANIMOUSLY. st 2. T Hank shared the following financial information for the month ending July 31. Current assets were $479,876 with the total endowment at $6,950,312 and total at $7,478,155. Concert revenues include $7,500 in sponsorships. Wedding revenues are up, and the gardens continue to be busy, which translates into another stellar month for gate, membership, gift shop, and environmental education. The garden party is included in the wedding and garden events revenue. Bank fees are higher due to the increase in online transactions (but online donations are higher as well). The auditors have been on site conducted the audit and everything will be ready for the next board meeting where an audit presentation will take place. 3. Director/Operations Report. Tara shared that the filming of Our Kind of People wrapped on Wednesday. th Weddings are busy and we are booked straight through to October 15 of 2022. Portraits have picked up as well. She then asked the board for permission to hire a part-time wedding assistant. If approved, this position would work during the months of March October for 15 hours per week, at a salary of $8,050/year. The AIRLIE GARDENS FOUNDATION BOARD PAGE 3 REGULAR MEETING AUGUST 19, 2021 following motion was presented: MOTION: Teddy Davis MOVED; SECONDED by Charlie Rivenbark that the board approve the request to hire a part time wedding assistant for the months of March October. Upon vote, the MOTION CARRIED UNANIMOUSLY. A Bartlett tree assessment is currently being conducted on the Sister and Darlington Oaks. An update will be provided at the next meeting. 4. Development Report. Janine Powell shared OR sponsorships are going well. There are currently five tables th left. (Cost is $1000 for reserved table.) The date of the Oyster Roast is October 15. Janine also shared that she met with a former board member who wishes to include Airlie in their will with a $50,000 bequest toward environmental education. Board member Shane suggested a letter be sent to local estate planning attorneys to let them know that their clients can include Airlie in their estate planning. Janine asked if he could assist with a mailing list and Shane stated he could. Sadly, a volunteer recently passed away unexpectedly. Many donations were received in her memory which will allow us to name one of the tram station benches in her honor. Janine also shared information regarding grants she has recently applied for. The NC Science Museum grant would help add to the environmental education staff in that it will fund 2 part-time staff people. Stanley Smith grant in the amount of $17,000 which will assist with the Airlie Oak Fund and specimen tree program. International Paper grant which would go towards our Nature Discovery Kits Program. Also applied for a Landfall Foundation grant for our 2020 garden exhibit. Last Friday tours were provided to 41 people who were in town participating the NC Association of County Commissioners Conference. Another tree sale is planned for later in the fall. The owls will go on sale via an online auction from December-January and we anticipate all will sell. le generated a little under $17,000. 5. Other Business. None to report. th 6. Next Meeting. The next board meeting will take place at the Airlie Cottage on Thursday, September 19 at 8:15am. ADJOURNMENT The meeting adjourned at 9:08am. Respectfully submitted, Tanya Gurganious Administrative Coordinator -Please note that the above minutes are not a verbatim record of the New Hanover County Airlie Gardens Foundation Board meeting. Airlie Gardens Foundation, Inc. Balance Sheet As of August 31, 2021 (FY 2022) Foundation Endowment Total ASSETS Current Assets Cash Accounts Petty Cash $1,500 $0 $1,500 South State Checking $423,070 $0 $423,070 SS - Temp Rest (Weddings) $122,950 $0 $122,950 Total Current Assets $547,520 $0 $547,520 Long-Term Assets Endowment Charles Schwab - Endowment $0 $7,106,186 $7,106,186 Total Endowment $0 $7,106,186 $7,106,186 Total Current/Long Term Assets $547,520 $7,106,186 $7,653,706 Other Assets Inventory - Gift Shop $17,736 $0 $17,736 Net Property and Equipment $24,745 $0 $24,745 Prepaid Expenses $250 $0 $250 AR - Sales Taxes $268 $0 $268 AR - Other $0 $0 $0 Total Other Assets $42,999 $0 $42,999 TOTAL ASSETS $590,519 $7,106,186 $7,696,705 LIABILITIES & EQUITY Liabilities Current Liabilities Deferred Wedding & Event Revenues $122,950 $0 $122,950 Deferred Sponsorship Income $37,500 $0 $37,500 Accounts Payable - NHC $38,067 $0 $38,067 Accounts Payable - Sales Taxes $4,811 $0 $4,811 Accounts Payable - Vendors $6,662 $0 $6,662 Total Current Liabilities $209,990 $0 $209,990 Equity Opening Bal Equity/Retained Earnings $306,847 $6,974,147 $7,280,994 Net Income $73,682 $132,039 $205,721 Total Equity $380,529 $7,106,186 $7,486,715 TOTAL LIABILITIES & EQUITY $590,519 $7,106,186 $7,696,705 Airlie Gardens Foundation, Inc. Profit & Loss Prev Year Comparison (FY 2022) YTD August YTD August % 2021 2020 $ Change Change OPERATIONS Operating Income 4100 Concert Series - Revenues $11,295 $0 $11,295 100.0% 4200 Enchanted Airlie - Revenue $0 $0 $0 0.0% 4300 Oyster Roast - Revenues $5,421 $0 $5,421 100.0% 4400 Grant Revenues $0 $0 $0 0.0% 4500 Contributions Income $5,971 $1,410 $4,561 323.46% 4600 Gate Revenues $77,936 $50,950 $26,987 52.97% 4700 Membership Revenues $44,364 $27,428 $16,936 61.75% 4800 Merchandise Revenues $24,935 $5,119 $19,816 387.13% 4900 Environmental Education $3,955 $203 $3,752 1,848.28% 5000 Wedding & Garden Events $36,650 $10,250 $26,400 257.56% 5100 Other Revenue $1 $0 $1 100.0% 5200 Interest $254 $617 ($363) -58.78% 5500 Exhibit Revenues $11,500 $0 $11,500 100.0% Total Operating Income $222,282 $95,977 $126,305 131.6% Operating Expenses 6100 Concert Series - Expenses $15,116 $1,100 $14,016 1,274.21% 6200 Enchanted - Expenses $10,038 $6,920 $3,118 45.06% 6300 Oyster Roast - Expenses $50 $0 $50 100.0% 6400 Grant Expenses $0 $16,417 ($16,417) -100.0% 6600 Gate Expenses $1,683 $667 $1,016 152.42% 6700 Membership Expenses $0 $209 ($209) -100.0% 6800 Merchandise Expenses $14,536 $3,112 $11,424 367.12% 6900 Environ Education Exp $0 $82 ($82) -100.0% 7000 Wedding & Gardens Events $0 $172 ($172) -100.0% 7100 Other Expenses $2,908 $2,731 $177 6.46% 7200 Lake Management $1,331 $0 $1,331 100.0% 7300 Grounds Maintenance $7,500 $0 $7,500 100.0% 8000 Administrative Support $28,594 $24,961 $3,633 14.55% 9000 Salaries Paid to NHC $38,067 $38,067 $0 0.0% 10002 Special Exhibits $23,537 $21,226 $2,311 10.89% Total Operating Expenses $143,360 $115,664 $27,696 23.95% TOTAL NET OPERATING INCOME $78,922 ($19,688) $98,609 500.87% Donated to Gardens & Endowment Capital Projects ($5,240) ($29,000) $23,760 81.93% Donated to Gardens & Endowment ($5,240) ($29,000) $23,760 81.93% Endowment Investment Income $5,658 $5,229 $430 8.22% Investment Expenses ($11,698) ($8,024) ($3,674) -45.79% Unrealized Gains/Losses $138,079 $462,550 ($324,471) -70.15% Total Endowment Income/(Loss) $132,039 $459,755 ($327,715) -71.28% TOTAL NET INCOME $205,721 $411,067 ($205,346) -49.95%