2022-05-19 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
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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:
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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.
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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
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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
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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