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HomeMy WebLinkAbout2022-11-17 Agenda Airlie Gardens Foundation November 17, 2022, Board Meeting Agenda Hank Estep, Chair Michael Creed, Vice Chair Coo Hocker, Treasurer Eric Blaesing, Secretary Tara Duckworth, Director of Parks & 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. November 17, 2022; 8:30 am: Airlie Cottage (896 Airlie Road) Meeting Called to Order Hank Estep, Vice Chair Recurring Consent Agenda Items of Business 1. Approval of the October Minutes Regular Agenda Items of Business 1. 2. a. Financial Update for period ending October 31, 2022 3. 4. Development/Marketing & Outreach Report 5. Other Business: All Board Members Next Meeting: December 15, 2022 AIRLIE GARDENS FOUNDATION BOARD PAGE 2 REGULAR MEETING OCTOBER 20, 2022 ASSEMBLY th The Airlie Gardens Foundation Board met in Regular session at the Airlie Cottage on Thursday, October 20, 2022, at 8:30am. Present: Hank Estep (presiding), Nikki Bascome, Eric Blaesing, Ted Davis, Coo Hocker, Shane Johnson, John Russ, and Rob Zapple. Excused: Michael Creed, Teddy Davis, and Sandra Ray. Absent: Charlie Rivenbark. Staff: Scott Childs, Tara Duckworth, Tanya Gurganious, Julie Holtz, Andy Johnson, Rebecca Pearce, Janine Powell. WELCOME AND APPROVAL OF MINUTES. Hank Estep called the meeting to order. He then asked if there were th any changes or corrections to the minutes of the September 15 meeting and that Michael Creed, Teddy Davis and Sandra Ray be excused. He asked that the meeting time on the minutes be changed to 8:30am and the following motion was presented: MOTION: Eric Blaesing MOVED; SECONDED by John Russ, that Michael Creed, Teddy Davis, and Sandra Ray be th excused, and the minutes of the September 15 be approved with the correction of the time from 8:15 to 8:30. Upon vote, the MOTION CARRIED UNANIMOUSLY. 1. Hank shared that the oyster roast will take place this coming Friday. Ted Davis will be escorting guests/sponsors to their table and Hank asked other board members to think about doing the same as more volunteers are needed. th 2. Coo Hocker reviewed the financials for the month ending September 30, 2022. Highlights were as follows: Analysis versus budget Concert revenues budget for admissions was similar to prior budget (before membership changes, where members paid half price for tickets) Projected Oyster Roast revenues will be higher in both admissions and sponsorships Analysis versus prior year Concert revenue - while 63% of the increase over last year is due to an increase in sponsorships, admissions increase by $13K due to this being the first year that members paid half-price for concert tickets. Fiscal year to date, Gate revenues are 13.5% lower than prior year. This is expected as memberships have increased. Membership revenues continue to increase year over year. While year to date gift shop revenues is down slightly over last year, September revenue was the highest September revenue on record. Program Revenues include Family Fun Night, which did not occur last year. Wedding & Garden Events: Last year's revenue included July 2021 garden party as well as film revenue. Wedding, receptions, and portraits combined are 3.5% higher than last year Gate expenses are higher due to replacement urns in the Pergola Garden as well as additional signage needed The profit margins on gift shop merchandise are higher than last year to date (50% vs 42%) AIRLIE GARDENS FOUNDATION BOARD PAGE 3 REGULAR MEETING OCTOBER 20, 2022 Endowment The market continues to be volatile, with investment gains of $493K in July and losses of $239K in August and losses of $642K in September. 3. Director/Operations Report. Tara shared that oyster roast will take place tomorrow and the weather looks good. Enchanted Airlie tickets for upper-level members has started. She has been looking over membership certs trends as well. Currently there is over $905,000 in the checking account. Normally, when funds are more than $500,000, they are moved into the endowment. Hope to use some of the funds for the renovations to the garden services center starting in January. Once the renovations have been completed, funds will be moved into the endowment. Rob Zapple asked if there had been any thought to putting funds into a traditional savings account. After a brief discussion, Coo shared that she would discuss with Ron Copley. Will also see what Rev has to offer. Scott shared that Bartlett has been working on the trees in the spring garden. They are removing dead wood and checking the overall health of the trees. They have also completed a tree inventory. 4. Development Report. Janine reported that the Oyster Roast is sold out. Upper-level member Enchanted Airlie ticket sales began this week with 60% having been secured. Family member tickets go on sale next and with 4,210 members, staff is bracing themselves. 5. Other Business. Hank asked about the allocation of wedding revenues. Tara and Julie will discuss with the auditors. th 6. Next Meeting. The next board meeting will take place at the Airlie Cottage on Thursday, November 17 at 8:30am. ADJOURNMENT There being no further business, the following motion was presented: MOTION: Rob Zapple MOVED; SECONDED by Coo Hocker that the meeting be adjourned. The meeting adjourned at 9:23am. 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.