The Center of Anna Maria Island’s financial freefall might be slowing.
But it may have fallen too far to turn fiscal 2022-23 around.
The center lost $17,637.03 in October, bringing the nonprofit’s deficit to $239,824.35 four months into the current fiscal year, which began July 1, 2022.
Despite the loss, October was the center’s best month this year since it had lost at least $49,578.47 in each of the past three months, including $95,892.39 in September.
The difference can be partially attributed to an increase in program income over the previous month’s revenue.
The nonprofit earned $35,897.77 in program income in October, compared to $14,513.08 and $11,350.12 in August and September.
That is the center’s second-best monthly program income total so far, only behind the $39,921.46 it earned in July.
While July and October had similar program income totals, the results came in different ways.
The center earned $105,617.10 in program revenue in July but spent $65,695.64 in programming costs.
On the other hand, the nonprofit earned $67,237 in October but only spent $31,339.23 on programming costs.
The center, 407 Magnolia Ave., Anna Maria, also lowered its general and administrative expenses in October, spending $57,738.78, the lowest monthly total so far this fiscal year.
The previous low was $62,642.39 in July.
Those numbers are bolstered by $5,447.65 the center earned in fundraising income in September — the second-highest monthly total this fiscal year.
A chunk of the center’s deficit may be eliminated by its ongoing “Campaign to Sustain 1.0” matching challenge, which had raised $169,475 from 90-plus donors toward a $75,000 goal as of Dec. 28.
This year’s fundraising campaign will end Friday, Jan. 13, and may be followed by another fundraiser, according to development director Jim McDaniel.
The center’s fundraising revenue also will be boosted by the Bradenton Gulf Island Concert Series. The next concert will be Saturday, Jan. 21, with a performance by classic rock band Boston’s current lead singer, Tommy DeCarlo.
Doors will open for all four concerts at 6 p.m., with the opening act taking the stage by 7 p.m. and the headliner’s performance by 8 p.m.
Details of the center’s fundraising campaign and concert series can be found on the nonprofit’s website, centerami.org.
To reach the center, call 941-778-1908.