What a difference a year — even one month — can make.
The Center of Anna Maria Island was $193,952 in the black through December 2021, a month that saw $139,759.18 raised, according to a financial report.
The nonprofit’s reported net income marks a $244,158 improvement over last year, when it was $50,206 in the red through the same period.
The difference can partially be attributed to an increase in program revenue, which more than doubled from $174,486 in fiscal 2020-21 to $355,608 in fiscal 2021-22.
The fiscal year runs July-June.
Programming costs increased $42,785 over last year, amounting to $138,337 more in income from programs in 2021-22 than the previous year.
However, the center’s fundraising efforts are the biggest reason for this year’s financial success.
Despite increasing fundraising costs by almost $200,000, the nonprofit raised $367,677 more than it had at the same mark last year. It recorded $310,757 in fundraising income through December 2021.
The center’s annual fundraising campaign for 2021-22, which raised $240,692 in response to a $60,000 matching challenge that ended in January, played a big part in the fundraising boost.
“Thanks to the overwhelming community support, the center is currently in an excellent financial position so far this year,” executive director Chris Culhane wrote in a Feb. 10 email to The Islander.
Another contributing factor is this year’s Bradenton Area Gulf Island Concert Series, which began with a Dec. 11, 2021, performance by reggae performers, “The Wailers.”
The center has not detailed profits or expenses for the concert series but, despite recording $283,288 in fundraising costs, the nonprofit’s December 2021 financial report states, “Still have some concert expenses to pay out,” next to the budget item.
The nonprofit also has yet to complete about $150,000 worth of capital improvements included in its 2021-22 budget.
Much of the improvements will be funded by a $40,000 donation from the William G. and Marie Selby Foundation and a $50,000 contribution from the Robert and Katherine Dobkin Intuitive Foundation.
The money, restricted for capital uses, will fund new bathrooms with showers on the facility’s second floor and an outdoor heavy-weight workout center.
The center also plans to spend $15,000 to remodel the foyer, $5,000 for new air conditioning and $5,000 for “phone system or security cameras.”
So far, the center had spent $25,753 of its capital budget on LED lighting upgrades and the “first costs” for the outdoor fitness space, turf and paint, according to Culhane.