Executive Director's Report
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Executive Director’s Report
September 2018
Finances
Fundraising
General and Admin
September 2018
Finances
- Cash flow: We have made it through what last spring looked like a very difficult stretch. Barring any major surprises, I believe we are in good shape for the foreseeable future, looking at least six months out.
- I will provide these numbers for the board on Monday evening. As the finance committee knows, the cloud/server where CLA and I share access was down unexpectedly this week, and we lost data back to September 5. So I must redo a few things to have projections for you.
- Loan: Although we were pre-approved, we did not close on the bridge loan from Propel Nonprofits (and therefore did not incur any fees).
- Audit: Our auditors from Mahoney Ulbrich Christiansen & Russ will be in the office next week (Sept. 24-26) to do their fieldwork.
- Tour revenue: As we discussed in July, the FY19 budget included two additional “phantom” tour dates (totaling $20,000, or our domestic average of $10K each) on top of what Rob had already contracted/confirmed, based on the assumption that more bookings would come in. I am happy to share that Rob has now booked two additional tour dates, totaling almost $27,000.
Fundraising
- Grants:
- Target: The Target grant, pledged in July, arrived in early September.
- Knight/Ordway and Fredrikson & Byron Foundation: Proposals will be submitted by Sept. 28. (Knight delayed their deadline from Sept. 15.)
- Minnesota State Arts Board: I plan to attend the review panel’s discussion of our arts access proposal on Sept. 27. A separate MSAB panel reviews our tour proposal the following week.
General and Admin
- Lorelei:
- Thank you to the board members (and Mary Bean) who generously offered to host Lorelei singers!
- Although we likely will not hit our financial goal for this concert (I’m writing this ahead of the performance on Thursday afternoon), we will end in the black. The impact to the overall FY19 budget should be relatively contained, however, because we did not budget this to be a major financial boon like Chanticleer (in short, we put fewer eggs in the “one night only concert” basket this year).
- From an administrative perspective – and I believe from an artistic one as well – the singers, staff, and management of Lorelei have been fantastic to work with: pleasant, responsive, engaged, and very cooperative.