The Center of Anna Maria Island’s board is preparing for changes as it faces a new fiscal year.
The fiscal year will end June 30 and, while executive director Kristen Lessig remained hopeful the organization would break even financially, treasurer Jim Froeschle remained skeptical during an April 25 board meeting.
Froeschle estimated the center would end its fiscal year at least $25,000 below break-even.
“There’s still work to be done to get us healthy,” Froeschle said.
The center enjoyed a net income of $70,000 in March. However, Froeschle said the results are not typical. It resulted from fundraising efforts and high-profile events, including the tour of homes.
For the 2015-16 fiscal year, Froeschle said the nonprofit is below his projected income, and may not meet its financial goals.
“We’re getting a boost, but it’s not 30 percent,” Froeschle said.
For the 2016-17 fiscal year, the center wants to tweak its membership fee structure and apply for more grants.
Lessig informed the board the center received $226,000 for the center’s endowment fund from the estate of Martha Mary Kessler. In February, the center took $300,000 from the fund to settle a loan with BB&T.
The Kessler funding was donated in the names of Mr. and Mrs. L. Gifford.
“This is the power of giving,” said board member Ed Chiles. He said the endowment fund would nearly be repaid by the gift.
Lessig said she would find an estate attorney for a future presentation at the center on planned giving.
The board will next meet at 6 p.m. Monday, May 23, at the center, 407 Magnolia Ave., Anna Maria.
Center gala also short of expectations
The Center of Anna Maria Island’s Grand Affaire may have sparkled, but it didn’t produce the anticipated jingle of coins.
This year’s gala failed to meet expectations, raising $61,896 after $43,320 in expenses.
The previous year’s event netted more than $120,000, according to treasurer Jim Froeschle.
The April 16 event at the center drew 191 paid guests at $175 per ticket..
The largest fundraising component was the silent auction. Bidding, conducted online in advance and on mobiles the night of the event, brought in $26,150. Live auction items raised $22,000 in donations and there was $3,150 in raffle ticket sales.
“Financial goals were definitely not reached,” executive director Kristen Lessig said during the board’s April 25 meeting.
According to Lessig, the center entered into the event with $20,000 less in sponsorships than the prior year.
“We have to take a hard look,” said board member Ed Chiles, whose restaurant group was the presenting sponsor for the gala. “We need a serious post-mortem on this and decide if we’re doing this again.”
Issues identified with the event included late announcements, technology issues with mobile bidding and an auctioneer who was criticized for moving too quickly through the live auction items without working the room.
“You relied on technology and technology failed you miserably,” Chiles said of the silent auction. During the event, some bidders were unable to connect reliably to the site, causing bids to fail.
He suggested finding someone to chair the gala committee who works on the event all year. “You need someone who lives and breathes this event,” Chiles said.
The board determined the 2017 event would be held the last two weeks of April, with an official announcement distributed as soon as possible.
“Your goal should be 4-5 months out saying, ‘I don’t know if I can get you in,’” Chiles said.
The board will next meet at 6 p.m. Monday, May 23, at the center, 407 Magnolia Ave., Anna Maria.
— Kristin Swain