The center has its work cut out for it this spring if the nonprofit hopes to salvage fiscal 2019-20.
The center lost $107,767 in net income in the first third of the fiscal year, which began July 1. The nonprofit made $156,037 more in the same period in 2018, when it was $48,270 in the green.
The center made $210,774 in operating income so far this year, including $2,777 in net revenue from fundraising and $12,617 from programs.
However, for the first four months of the fiscal year, it logged $361,514 in operating expenses, resulting in a $150,740 deficit.
Center board chair David Zaccagnino said the struggle was expected and the nonprofit remains ahead of budget. A handout at a Dec. 9 board meeting indicated the center is $22,421 ahead of its budget while accounting for a $130,189 loss through October.
The $22,421 difference in the current budget can be accounted for by analyzing two figures.
First, the center earned 4% or $8,269 more in operating revenue than it budgeted. This was partially attributed to raising $13,413 more than expected in program revenue. But less was raised — $5,144 — in fundraising.
Second, the center spent 4% or $14,152 less on operating expenses than budgeted. The dip in spending is due to a savings of $7,227 in program expenses and $6,438 in administrative costs.
Culhane wrote in a Dec. 12 email to The Islander that the lower-than-budgeted administrative costs were due to “timing,” but did not provide clarification. He added that “expenses will likely level out in the coming months.”
Zaccagnino said he expects the nonprofit to continue its downward financial spiral until the spring season.
The next board meeting will be at 7 p.m. Monday, Jan. 20.
Center concerts, bingo
A lineup for the Center of Anna Maria Island’s second concert series is almost set.
The Visit Bradenton Gulf Islands Concert Series, which launched last winter, will be title-sponsored by the Sandbar Restaurant and feature The Grass Roots, Starship and Danny Seraphine.
Starship, an American pop-rock band that came to prominence in the 1980s for hits such as “We Built This City,” will take the stage first, at 7 p.m. Thursday, Jan. 23, 2020, at the center, 407 Magnolia Ave.
Singer Mickey Thomas, who joined Starship in 1979, will headline the show.
Danny Seraphine, a cofounder of Chicago and Rock & Roll Hall of Fame inductee, will perform at 7 p.m. Thursday, Feb. 13, 2020. Seraphine will perform the music of Chicago, a rock band that became famous in the 1970s and ‘80s for such songs as “Hard to Say I’m Sorry” and “Look Away.”
The Grass Roots, a rock band that enjoyed its heyday in the late ‘60s and early ‘70s with songs such as “Midnight Confessions” and “I’d Wait a Million Years,” will be the third headliner band to perform at the center in the series. The band will perform at 7 p.m. Thursday, March 19, 2020.
Executive director Chris Culhane said the featured musician for a final show, scheduled for 7 p.m. Sunday, April 5, would not be revealed until January.
Other artists, including The Rat Pack and the Atlantic City Boys, will perform at the Manatee Performing Arts Center — the center’s mainland partner for the concert series.
People can get tickets through the MPAC box office at 941-748-5875, or go online to manateeperformingartscenter.com.
Zaccagnino said the center also will hold bingo nights once a month January-March. Bingo will begin at 6 p.m. Friday, Jan. 10, Feb. 7 and March 6.
Zaccagnino added that he is excited for bingo to start, and already collected prizes.