Operating Financial Statement
April 1, 2021 to March 31, 2022
| REVENUE | FY 2022 | FY 2021 | PERCENT INCREASE | PERCENT OF TOTAL |
|---|---|---|---|---|
| Investment Return Designated for Operationsa | $6,548,000 | $6,482,000 | 1% | 35% |
| Revenue from Operations | $2,462,000 | $1,585,000 | 55% | 13% |
| Contributed Income | $8,903,000 | $5,531,000 | 61% | 47% |
| Contributed Income for Property and Long Term Investments | $899,000 | $415,000 | 117% | 5% |
| Total Revenue | $18,812,000 | $14,013,000 | 34% | 100% |
| EXPENSES | FY 2022 | FY 2021 | PERCENT INCREASE | PERCENT OF TOTAL |
|---|---|---|---|---|
| Museum Operations | $5,720,000 | $4,499,000 | 27% | 39% |
| Preservation Maintenance | $2,830,000 | $1,814,000 | 56% | 19% |
| Collections and Exhibitions | $1,443,000 | $1,259,000 | 15% | 10% |
| Education & Public Programming | $1,264,000 | $1,122,000 | 13% | 8% |
| Administration | $1,308,000 | $1,158,000 | 13% | 9% |
| Fundraising | $1,009,000 | $706,000 | 43% | 7% |
| Revenue Generating Projects | $579,000 | $519,000 | 12% | 4% |
| Preservation Easement Program | $417,000 | $312,000 | 34% | 3% |
| Marketing | $266,000 | $219,000 | 21% | 1% |
| Total Expenses | $14,836,000 | $11,608,000 | 28% | 100% |
| Net Income from Operationsb | $3,976,000 | $2,405,000 |
| Endowment Assetsc | $124,663,000 | $130,079,000 |
| Gain (Loss) on Investments | $(641,000) | $35,122,000 |
This financial statement represents the general operating activities for Historic New England only. Other non-operating activity can be found within the audited financial statements. In FY 2022, total operating expenses were spent as follows: 83% program expenses, 10% administration and marketing, and 7% fundraising.
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 long-term investment of $0.9 million in FY 2022 and $0.4 million in FY 2021.
c “Endowment Assets” excludes beneficial interest in perpetual trusts which equaled $11.4 million in FY 2022 and $11.7 million in FY 2021.