2015 Annual Report | Page 18

2015 FINANCIAL REPORT In fiscal year 2015, Anderson Ranch Arts Center continued to successfully deliver on its workshop and residency programs. The Ranch’s fundraising efforts resulted in a 10% increase in unrestricted grants and contributions. The Ranch realized an uptick in all sources of revenue during 2015 as well as an increase in enrollment, resulting in a recordbreaking $4.8 million total revenue. Expenses were higher than anticipated, resulting in an operating deficit of $316,683. Despite this deficit, the Ranch was able to add $1 million to the endowment, bringing it from $5 million to $6 million, resulting in an offsetting increase in our net assets for the year. Extensive efforts on the part of all staff, Board of Trustees and loyal donors made this possible. Appropriations and Miscellaneous Income $301,097 Ongoing efforts to continue to exceed goals with its workshops, residency programs and special events along with increased earned income and financial discipline provides for a stable future for Anderson Ranch. Anderson Ranch completed an audit executed by RAFFA, P.C. of Washington, D.C. The auditors were able to give an unqualified opinion as to the accuracy and fairness of our financial statements as of December 31, 2015. Special Events $1,088,130 David Fuente Treasurer, Board of Trustees Program Service $1,691,064 2015 INCOME Grants and Contributions $3,527,464