Operating Financial Statement

April 1, 2020 to March 31, 2021
REVENUEFY 2021FY 2020PERCENT INCREASE
(DECREASE)
PERCENT OF TOTAL
Investment Return Designated
for Operationsa
$6,482,000$6,245,0004%46%
Revenue from Operations$1,585,000$2,578,000(39)%11%
Contributed Income$5,531,000$2,933,00089%40%
Contributed Income for Property &
Long Term Investments
$415,000$966,000(57)%3%
Total Revenue$14,013,000$12,722,00010%100%

EXPENSESFY 2021FY 2020PERCENT 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 spent 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.