The Center of Anna Maria Island’s financial fortunes are inching up just in time to wind down the fiscal year 2020-21 in the black.
According to financial documents from the nonprofit, the community center finished $26,290 in the black through May.
The number marks an $80,588 improvement over April, when it fell to $54,298.34 in the red.
It also marks the first time the nonprofit has registered a month in the black for the fiscal year. The center recorded its largest cumulative deficit of the year in October — $118,421.30 in the red.
The center has struggled to lower the deficit until April, when it cut the figure from $95,711.43 to $54,298.34.
The turnaround can be contributed almost solely to fundraising in April and May, when the center put on a second donation challenge that raised over $100,000 and began selling tickets for the Bradenton Gulf Island Concert Series.
The nonprofit recorded $80,485.52 in fundraising revenue in April, the second-largest fundraising figure recorded at that point in the year — only behind $85,577.73 in December 2020, when the center sponsored a community fundraising challenge.
However, the community center’s $194,823.10 in fundraising revenue in May dwarfs all previous numbers for the year — it is more than twice the amount raised in December.
The number is a significant boost for the nonprofit in the latter half of its fiscal year, especially when its programs produced a meager $8,964.67 after expenses and a year-high $52,945.43 in general and administrative expenses for the same month.
That combination resulted in a $43,980.76 loss, but it pales compared to the funds raised by selling concert tickets and the second fundraising challenge that ended in May.
The center has yet to release financial details for the concert series, which ended with a July 2 performance by The Grass Roots.
The Islander also requested financial reports through the Bradenton Area Convention and Visitors Bureau, which sponsored the concert series, but failed to provide the documents before the press deadline.
Despite this late turnaround, the community center continued a yearly tradition of beginning its fiscal year — the 2021-22FY began July 1 for the nonprofit — without releasing a budget.