Financial Report CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(in thousands of dollars)
ASSETS ŠT.KATES
Cash and cash equivalents
immediately following our successful 125th milestone anniversary, we continued to deliver on the goals outlined in the five-year strategic plan, The Path Forward. It has been an extraordinary period of growth and impact, and this year was no different. We have seen steady progress again due to several strategic investments in several sites and our infrastructure, as well as a strong staff and board that is focused on increasing awareness and building community throughout the state. Our financial position remains strong, with $302 million in total assets and $296 million in net assets. The investment portfolio, which is now valued at over $150 million, remains an important component of the capital structure, supporting over 20% of annual operating revenues. Property and program revenues have experienced continued success, and membership recorded another record year, with member households now totaling over 60,000. Finally, contributed income, both unrestricted support for our core activities and designated contributions for new projects, remains a critical component of our funding mix. We are excited about building on the successes of the past five years, and we look forward to embarking on the ambitious goals set out in the new strategic plan, Momentum.
Pledges receivable Funds held in trust by others Assets related to split-interest agreements
994
1,129
1,025
1,352
135,708
126,615
30,374
28,738
3,284
3,122
26,058
26,940
Properties
95,650
93,782
301,544
291,207
TOTAL ASSETS
LIABILITIES AND NET ASSETS LIABILITIES
FY 2018
FY 2017
Accounts payable and accrued expenses
2,049
1,981
Deferred revenues
1,304
1,367
Liability under split-interest agreements
1,543
1,719
544
622
5,440
5,689
FY 2018
FY 2017
Other annuity obligation TOTAL LIABILITIES NET ASSETS Unrestricted
61,941
60,130
Temporarily restricted
79,997
73,318
Permanently restricted
154,166
152,070
TOTAL NET ASSETS
296,104
285,518
TOTAL LIABILITIES AND NET ASSETS
301,544
291,207
FY 2018
OPERATING REVENUE
FY 2018
OPERATING EXPENSES
Membership dues
Administrative
14%
Fundraising
12%
8% 36%
28%
Property & other revenues
Engagement & Programs*
22% 4 THE TRUSTEES
9,529
Fixed assets, net
Contributions & Grants
Amy L. Auerbach Chair, Finance and Audit Committee
FY 2017
8,451
Other assets Investments
In Fiscal Year 2018,
FY 2018
Endowment support *Programs include Land Conservation, Agriculture, and Visitor Amenities
33%
47% Property & resource stewardship