ANNUAL MEMBER MEETING Managing Director’s Report OCTOBER 14, 2014 ● 6:30 PM OCEAN COUNTY COLLEGE, TOMS RIVER 59 th anniversary season

serving more than 22,000 annually

Multi-year Management Focus SolvencyVisibilityCommunity

Increasing focus on the bottom line… 5 years of local economic decline Balanced with sustained support Keeping accumulative shortfall low Results from FY14 audit once completed are expected to reduce the short-fall to $12k Earned revenue Contracted Services $ 18, $ 24, Ticket Subscriptions $ 31, $ 26, Concert Revenue/Single Tickets $ 57, $ 23, Membership Fees (Chorus/GSPYO) $ 15, $ 15, Miscellaneous $ $ - Merchandise & Novelty Sales $ 1, $ 1, Interest Income $ $ TOTAL EARNED REVENUE $ 124, $ 91, Support: Donated Rental Space $ 15, $ 28, Private Foundations $ 66, $ 51, Individual Contributions $ 16, $ 30, Corporate Funding $ 32, $ 1, TOTAL SUPPORT $ 130, $ 111, Government Grants $ 37, $ 37, Special Events/Fund-raising $ 29, $ 43, TOTAL REVENUE $ 322, $ 283, EXPENSES Program Services $ 197, $ 155, Management & General* $ 103, $ 105, Fund-raising $ 29, $ 33, TOTAL EXPENSES $ 330, $ 294, DECREASE IN NET ASSETS $ (7,119.00) $ (10,905.00) NET ASSETS, BEGINNING OF YEAR $ (10,793.00) $ NET ASSETS, END OF YEAR $ (17,912.00) $ (10,793.00) *Includes Artistic Staff Compensation

Revenue Trends

Expenses Tied to Ups and Downs of Revenue FY12, FY13, FY14 ACTUAL – FY15 Budgeted

Slow Positive Conservative Reworking internally with minor shifts Major changes will be directly tied to the receipt of new funding not committed to meeting the core budget

Slow Positive Conservative Reworking internally with minor shifts Major changes will be directly tied to the receipt of new funding not committed to meeting the core budget

Affordably reaching more… GardenStatePhilharmonic.org

“ ” I look forward to receiving something by mail… ANONYMOUS PATRON

Community… VolunteersTalksPartnerships

our future depends on our continued involvement and support (732) ● GardenStatePhilharmonic.org ● 60 th Anniversary Planning Committee Legacy Campaign Committee - Preliminary Goal - $350,000 Cash Reserve/Business Line of Credit Marketing/Visibility GSPYO Scholarships Technology Integration Human Capacity Building Possible considerations for the Campaign… Endowing specific musician chairs Naming/renaming opportunities of programs ??? The Orchestra-in-Residence at Ocean County College

THANK YOU for your continued interest and support of the Jersey Shore’s premiere professional orchestra