Operating Financial Statement
April 1, 2020 to March 31, 2021
| REVENUE | FY 2021 | FY 2020 | PERCENT INCREASE (DECREASE) | PERCENT OF TOTAL |
|---|---|---|---|---|
| Investment Return Designated for Operationsa | $6,482,000 | $6,245,000 | 4% | 46% |
| Revenue from Operations | $1,585,000 | $2,578,000 | (39)% | 11% |
| Contributed Income | $5,531,000 | $2,933,000 | 89% | 40% |
| Contributed Income for Property & Long Term Investments | $415,000 | $966,000 | (57)% | 3% |
| Total Revenue | $14,013,000 | $12,722,000 | 10% | 100% |
| EXPENSES | FY 2021 | FY 2020 | PERCENT INCREASE (DECREASE) | PERCENT OF TOTAL |
|---|---|---|---|---|
| Museum Operations | $4,499,000 | $4,685,000 | (4)% | 39% |
| Preservation Maintenance | $1,814,000 | $1,919,000 | (5)% | 15% |
| Collections and Exhibitions | $1,259,000 | $1,548,000 | (19)% | 11% |
| Education & Public Programming | $1,122,000 | $1,480,000 | (24)% | 10% |
| Administration | $1,158,000 | $1,165,000 | (1)% | 10% |
| Fundraising | $706,000 | $775,000 | (9)% | 6% |
| Revenue Generating Projects | $519,000 | $580,000 | (11)% | 4% |
| Preservation Easement Program | $312,000 | $328,000 | (5)% | 3% |
| Marketing | $219,000 | $231,000 | (5)% | 2% |
| Total Expenses | $11,608,000 | $12,711,000 | (9)% | 100% |
| Net Income (Loss) from Operationsb | $2,405,000 | $11,000 |
| Endowment Assetsc | $130,079,000 | $102,743,000 |
| Gain (Loss) on Investments | $35,122,000 | $(18,980,000) |
This financial statement represents the general operating activities for Historic New England only. Other non-operating activity, including realized and unrealized gains on restricted assets, can be found within the audited financial statements. In FY 2021, the total expenses were spend as follows: program expenses equaled 82%, administration and marketing 12%, and fundraising 6%.
a “Investment Return Designated for Operations” represents endowment funds approved by the Board of Trustees to support annual operations, and income from trusts. The annual draw is based on appropriating 5% (the board may approve more or less each year) of the preceding twenty-quarter fair market value of the investments as of December 31.
b “Net Income from Operations” includes contributions for property acquisitions and long-term investment of $0.4 million in FY 2021 and $0.9 million in FY 2020.
c “Endowment Assets” excludes beneficial interest in perpetual trusts which equaled $11.7 million in FY 2021 and $8.7 million in FY 2020.