The Center of Anna Maria Island has dug a hole for itself to start fiscal 2025-26.
The nonprofit was $182,448 in the red through August, the second month of the new fiscal year, according to a report.
That deficit includes a $29,112 loss in net ordinary income, which factors in administrative, programming and fundraising revenues and expenses.
While the center has logged program income in both July and August, it has not been enough to outweigh its costs over the same period.
At the same time, fundraising has been hit or miss.
In July, the nonprofit recorded a $19,733.54 loss from fundraising operations. Over that month, the center raised only $2,760.48 despite spending $22,494.02.
In August, the ship righted itself and the center logged $75,595.63 in fundraising revenue — far outpacing the $17,965.82 in direct costs.
However, the resulting $57,629.81 in fundraising income still fell short of outweighing a $58,047.14 loss from operations.
The deficit also includes $153,337 in capital expenses for field maintenance, new sod, fence and roof repairs, as well as a new outdoor scoreboard.
Nevertheless, the community center finds itself in a familiar financial position to last year, when it was $138,351 in the red through August.
The nonprofit ended up finishing fiscal 2024-25 $79,022 in the black.
Executive director Christopher Culhane wrote in an Oct. 2 email to The Islander that the deficit was “still $85,125 better than the budget,” and blamed it on a timing issue.
“All the work from the hurricane repairs is still ongoing, and we should be closer to budget after the next two months,” he wrote.