Report of the Executive Director
Submitted for the March 20, 2007 meeting of the Board of Directors and March 6, 2007 meeting of the Chorus Committee.
FINANCES
We continue to stay on target for this fiscal year. Income on the year continues to outpace expenditures. Pledges, grants, dues, and music reimbursements have all tracked well. I will be proposing a final budget for FY2008 in May for adoption in June. Our endowment fund (and our scholarship fund, too, for that matter) have done exceptionally well in 2007. The endowment fund has enjoyed an eight month run of gains and an increase of $9,695 in the past six months alone and is now at 89% capitalization. I believe it is possible to reach the $100,000 mark this autumn.
LOGISTICS
I met with the staff of Town of Cary and SMG about the Koka Booth Amphitheatre concerts in 2008 as well as this May 2007 on February 15th. We have to make some decisions about the 2008 concerts because we cannot likely get both dates requested at reduced rate. In other developments we have risers on order for March 31st and I am trying to figure out how we get at least 125 people into St. Paul's.
GRANTS AND DEVELOPMENT
Our United Arts grant applications were filed February 28th and our Town of Cary grant will be reviewed by the Cultural Arts Committee on March 13th. I am hoping for an increase in Town of Cary but it will likely be no more than $1,000 more based on my interpretation of comments so far. We will probably lose a little ground at United Arts due to a new rule denying grants less than $1,000. Our youth arts programming grant is on the bubble and was already a lower request than last year. Our Charitable Solicitation license renewal application was hand delivered on February 13th, but we were denied on some technicalities and were given until March 19 to repair those. I have submitted material addressing their objections and hopefully we'll get clearance by mid month.
PUBLIC RELATIONS
Musicales materials were stuffed and mailed the weekend of March 3rd. We sent almost 1,000 books. A postcard mailing is slated for March 10. New flyers have been prepared and uploaded to our web page.
MEMBER RESOURCES, CDs, ETC.
We still have a considerable inventory of CDs from American Celebration and several of last year's concerts. It looks like we may be writing off the oldest and consigning them to the storage unit. I am preparing a survey to members who dropped out of CSC in the past year to better understand why we lose singers.
Respectfully submitted,
David R. Lindquist
Executive Director
Updated 4 March 2007 |