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Home My WebLink About2022-05-19 Agenda Airlie Gardens Foundation May 19, 2022, 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. May 19, 2022; 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 April Minutes Regular Agenda Items of Business 1. 2. Bonnie Nelson, Board Treasurer a. Financial Update for period ending April 30, 2022 3. a. 2021-2022 Budget 4. Development/Marketing & Outreach Report: Janine Powell 5. Other Business: All Board Members Next Meeting: June 16, 2022 AIRLIE GARDENS FOUNDATION BOARD PAGE 2 REGULAR MEETING APRIL 21, 2022 ASSEMBLY st The Airlie Gardens Foundation Board met in Regular session at the Airlie Cottage on Thursday, April 21, 2022, at 8:15 a.m. Present: Hank Estep (presiding), Eric Blaesing, Mike Creed, Coo Hocker, Shane Johnson, Bonnie Nelson, Charlie Rivenbark, Beck Smith for Denise Szaloky, Commissioner Rob Zapple. Via Teams: Teddy Davis, Sandra Ray. Absent: Ted Davis, Jr., and Mark Tyler. Staff: Scott Childs, Tara Duckworth, Tanya Gurganious, Julie Holtz, Andy Johnson, Rebecca Pearce (via Teams), and Janine Powell. WELCOME AND APPROVAL OF MINUTES. Hank Estep called the meeting to order and welcomed everyone in attendance. He then introduced Beck Smith, who was in attendance on behalf of the Azalea Festival. Hank asked if there were any changes or corrections to the minutes of the March meeting. There were none and the following motion was presented: th MOTION: Rob Zapple MOVED; SECONDED by Eric Blaesing, that the minutes of the March 17 meeting be approved. Upon vote, the MOTION CARRIED UNANIMOUSLY. 1. None to report. st 2. Bonnie Nelson reviewed the financials for month ending March 31. Total liabilities and equity was $8,093,646. YTD, Revenues for Gate, Membership, Merchandise, Environmental Education, Wedding & Events, and Exhibit continue to be higher than the previous two years. The month of March set a nd record for membership revenue. March also saw the 2 highest revenue for the gift shop. (The highest was during Enchanted Airlie in December.) Gate revenue for March was also the highest for any previous March. Environmental education programs, portraits and weddings are in full swing. There was $15,300 spent on assessments and work on the Sister and Darlington Oaks. The month of March also saw $166,000 unrealized gains on investments. 3. Director/Operations Report. Tara shared with the board that after speaking with Ron Copley, she updated the language of the Return Requirement on the Investment Policy Statement. After much discussion, it was decided that more time was needed to further discuss and update the wording. Tara will get with Mark Tyler Additionally, the architect is working on a plan to redesign/reorganize the garden services center. 4. Development Report. Janine Powell reported that the concert lineup will be announced in two weeks. The rd first concert will take place on June 3. Working with E-tix to gain more efficiency with ticketing. The NC Land & Water Fund will end their annual meeting at Airlie. 5. Other Business. Coo Hocker asked how the sponsor event turned out. Janine and Tara shared that only a handful of board members were able to attend. The chief operating officer from REV attended and was provided a one-on-one tour which they felt helped to build the relationship. Tara shared with the board the need to hire lifeguards for Echo Farms. Asked if they know of anyone, to please share that information. AIRLIE GARDENS FOUNDATION BOARD PAGE 3 REGULAR MEETING APRIL 21, 2022 th 6. Next Meeting. The next board meeting will take place at the Airlie Cottage on Thursday, May 26. ADJOURNMENT MOTION: Charlie Rivenbark MOVED; SECONDED by Mike Creed, that the meeting be adjourned. The meeting adjourned at 9:17am. 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 April 30, 2022 (FY 2022) Foundation Endowment Total ASSETS Current Assets Cash Accounts Petty Cash $1,500 $0 $1,500 South State Checking $630,606 $0 $630,606 SS - Temp Rest (Weddings) $160,975 $0 $160,975 Total Current Assets $793,081 $0 $793,081 Long-Term Assets Endowment Charles Schwab - Endowment $0 $6,822,893 $6,822,893 Total Endowment $0 $6,822,893 $6,822,893 Total Current/Long Term Assets $793,081 $6,822,893 $7,615,973 Other Assets Inventory - Gift Shop $12,907 $0 $12,907 Net Property and Equipment $24,745 $0 $24,745 Prepaid Expenses $17,498 $0 $17,498 AR - Sales Taxes $1,148 $0 $1,148 AR - Other $0 $0 $0 Total Other Assets $56,298 $0 $56,298 TOTAL ASSETS $849,378 $6,822,893 $7,672,271 LIABILITIES & EQUITY Liabilities Current Liabilities Deferred Weddings & Event Revenues $160,975 $0 $160,975 Deferred Sponsorship Income $80,000 $0 $80,000 Accounts Payable - NHC $76,134 $0 $76,134 Accounts Payable - Sales Taxes $10,249 $0 $10,249 Accounts Payable - Vendors $10,000 $0 $10,000 Total Current Liabilities $337,358 $0 $337,358 Equity Opening Bal Equity/Retained Earnings ($168,153) $7,449,147 $7,280,994 Net Income $680,173 ($626,254) $53,919 Total Equity $512,020 $6,822,893 $7,334,913 TOTAL LIABILITIES & EQUITY $849,378 $6,822,893 $7,672,271 2020 - 0.0% % Change 2022 5.91%2.23%4.26%11.0%78.3% 5.48% - 59.75%23.43%88.43%99.93%78.87%85.35%66.87%10.45%95.25%42.54%61.03%100.0%100.0%38.85% ------- 273.44%158.96%155.06%155.04%491.96%446.43%220.02%132.46%932.78% 417.36% $0 2020 $ - $756 $237 Change $1,791 $2,206 $6,978 $1,262 $4,253 $13,955 $28,879 $76,504 $10,513 $31,250 $38,538 $10,911 $26,454 $23,894 $21,733 ($2,990)($3,192)($9,096) 2022 $195,496 $161,978 $112,956 $526,350 $562,089 ($19,808)($12,397)($66,795)($35,739) ($165,655) 2021 - 8.9%0.0% - 9.11%5.79%2.75%9.64%4.44% - 100.0%19.32%100.0%87.52%33.24%83.91%18.97%29.47%45.61%100.0%88.65%92.38%15.14%50.67%25.43% 64.31% ----- 101.71%271.75%164.24%128.87%105.55%109.66%139.07% % Change 2022 1,935.67% $0 $451 ($77) 2021 $ ($309) $3,291 $6,100 $4,874 $1,672 $8,896 $2,115 - $13,345 $40,529 $40,506 $17,433 $80,852 $63,453 $12,642 $84,479 $32,906 $43,876 $11,433 $35,374 $17,312 $26,242 ($2,859)($2,002) $298,958 $272,717 Change($61,264)($65,347)($64,482) 2022 $0 $0 $556 $6,781 $3,791 $3,740 $7,000 $3,172 $1,612 $6,968 $2,330 Foundation, Inc. April $33,153 $52,903 $75,531 $10,561 $49,339 $22,960 $33,850 $87,033 $42,085 $20,060 $29,094 $61,499 $236,341 $122,981 $162,100 $787,181 $173,907 $190,335 $652,502 $134,679 2020 FY2022 YTD $0 $0 $0 $350 $870 $4,652 $3,407 $1,700 $5,276 $1,202 Airlie Gardens April $70,000 $36,149 $62,389 $51,438 $32,150 $72,735 $10,832 $32,258 $13,223 $11,220 $17,558 $68,081 $21,948 $209,767 $301,044 $243,226 $143,284 $190,335 $590,521 $424,051 Profit & Loss Prev Year Comparison 2021 $1,014,572 YTD $801 $548 $793 $8,736 $8,253 $2,874 April $13,345 $40,506 $39,440 $17,294 $38,250 $34,606 $77,937 $43,876 $22,266 $10,150 $67,632 $11,221 $10,911 $26,454 $85,393 $24,062 2022 $250,296 $318,476 $324,079 $125,843 $135,916 $190,335 $616,763 $696,767 $1,313,531 YTD Revenue - RevenuesExpenses -- Revenues Expenses -- Expenses - 4100 Concert Series 4200 Enchanted Airlie 4300 Oyster Roast 4400 Grant Revenues4500 Contributions Income4600 Gate Revenues4700 Membership Revenues4800 Merchandise Revenues4900 Environmental Education5000 Wedding & Garden Events5100 Other Revenue5200 Interest 5500 Exhibit Revenues6100 Concert Series 6200 Enchanted 6300 Oyster Roast 6400 Grant Expenses6600 Gate Expenses6700 Membership Expenses6800 Merchandise Expenses6900 Environ Education Exp7000 Wedding & Gardens Events7100 Other Expenses7200 Lake Management7300 Grounds Maintenance8000 Administrative Support9000 Salaries Paid to NHC10002 Special Exhibits Operating Income Total Operating IncomeOperating Expenses Total Operating Expenses OPERATIONS TOTAL NET OPERATING INCOME 2020 - % Change 2022 67.27%17.57%66.14%81.72% 67.27%95.27% -- - 122.78% 2020 $ - Change $34,105 $13,196 $34,105 2022 $290,649 ($20,016) ($298,725) ($305,544) 2021 - 97.3% - 42.78%46.08%33.83% 42.78% - 142.08% 139.11% % Change - - 2022 2021 $ - $12,406 $12,406 $27,853 Change($12,711) 2022 ($2,242,766) ($2,227,624) ($1,942,502) Foundation, Inc. April $75,103 ($50,699)($30,264) ($50,699) 2020 FY2022($365,549) ($320,710)($236,730) YTD Airlie Gardens April $60,447 ($29,000)($37,569) Profit & Loss Prev Year Comparison 2021($29,000) $1,578,492 $1,601,370 $1,996,421 YTD April $88,300 $53,919 2022 ($16,594)($50,280) ($16,594) ($664,274) ($626,254) YTD Endowment Capital Projects Investment IncomeInvestment ExpensesUnrealized Gains/Losses Donated to Gardens & Donated to Gardens & Endowment Endowment Total Endowment Income/(Loss) TOTAL NET INCOME