The Center of Anna Maria Island’s 2021-22 fiscal year is off to a rocky start.
According to financial documents from the nonprofit, the center was $15,419 in the red in July, the first month of the new July-June fiscal year.
But that isn’t out of the ordinary for the nonprofit, which reversed a $92,508 deficit through March to finish 2020-21 $53,492 in the black, thanks to a late-season community fundraising challenge.
The 2021-22 number marks a $21,436 improvement over the same period last fiscal year, when the center recorded a $36,855 deficit.
The difference-maker is a 325% increase in program revenue — the fees paid for participation by members and nonmembers in a variety of activities — from $17,669 in July 2020 to $75,158 in July 2021.
The increase helped make up for a 7% decrease in fundraising revenue over the previous year, from $33,216 in July 2020 to $30,913 in July 2021.
However, the spike in program revenue also is counterbalanced by increases of 108% and 73% in program costs and fundraising expenses over last year, totaling $70,844 over the first month of 2021-22.
With an additional $49,402 budgeted for “general/indirect/admin expenses,” the center’s total expenses outnumbered its revenues $121,490 to $106,071 in July 2021.
Meanwhile, the wait continues for the release of the nonprofit’s 2021-22 spending plan.
The center’s fiscal year began July 1 but the nonprofit had not released a budget as of Sept. 16.
This is the third consecutive year the center began its fiscal year without releasing a spending plan.
The nonprofit also had not disclosed the amount of funds raised at an Aug. 21 benefit for island-raised, Anna Maria Island charter fishing guide
Capt. Aaron Lowman, who suffered a brain aneurysm in June.
