A N N UAL R E P O RT
the
Graduate Program in Sustainable Landscape Planning + Design
ConwaySchool
F i s cal year 2012
STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 2012 (from audited financial statements accepted by the Board of Trustees on 11/2/2012 with comparative figures for 2011)
FY 2012 FY 2011 UNRESTRICTED PUBLIC SUPPORT and REVENUE
Contributions
Summary of Operations
In-kind contributions Tuition and fees Project reimbursement
We would like to thank all who continue to keep the Conway School financially sustainable through their generous contributions. For five years in a row the Conway
Investment income Miscellaneous income Total Unrestricted Support and Revenue Net Assets Released from Restrictions
averaging $48,000 per year. Those
Total Unrestricted Support and Revenue and Net Assets Released from Restrictions
cal year 2012, which had just twelve students enrolled for the first day of school (four accepted students withdrew—two for health reasons—
83,249 69,848 4,040 6,740 380,000 551,350 73,715 89,850
Workshop fees (net)
School had increases in net assets reserves were put to good use in fis-
- 2,755 10,521 22,032 1,302 813 552,827 743,388 8,711 23,147 561,538 766,535
EXPENSES School activities
422,846 454,317
Administration
172,641 184,475
shortly before the school year
Fund-raising
began). The fiscal year ended with
TOTAL EXPENSES
an overall decrease in net assets of
Increase/(Decrease) in Unrestricted Net Assets (97,816)
$97,880. The reduction in anticipated tuition revenue was partially offset by a $57,497 reduction in operating expenses over FY 2011, primarily related to variable costs. Bright spots from the FY 2012 finances included a nearly ten percent increase in unrestricted annual
63,867 78,059 659,354 716,851 49,684
TEMPORARILY RESTRICTED NET ASSETS Contributions
7,300 20,000
Investment income/Interest earned— scholarship/Loan fund Net assets released from restrictions Increase/(Decrease) in Temporarily Restricted Net Assets
— — (8,711) (23,147) (64) (3,147)
fund contributions from $69,848 in FY2011 to $76,751, and a decrease of only twelve percent in student project reimbursements. Investment income was less than FY 2011 largely due to lower returns on mutual funds and higher premiums paid for short-term investment-grade corporate bonds. The school continues to practice a con-
Net Assets at Beginning of Year
1,194,852 1,148,315
Net Assets at End of Year
1,096,972 1,194,852
Increase/(Decrease) in Net Assets
STATEMENT OF FINANCIAL POSITION AS OF JUNE 30, 2012 (from audited financial statements accepted by the Board of Trustees on 11/2/2012 with comparative figures for 2011)
FY 2012 FY 2011 ASSETS
servative investment strategy with a
Cash and cash equivalents
portfolio made up of money markets,
Accounts receivable
certificates of deposit, corporate
Prepaid expenses
bonds, and mutual funds (including socially screened).
(97,880) 46,537
166,003 233,010 33,672 43,663 5,068 6,321
Property and equipment, net
628,165 661,577
Investments
401,252 421,368
Other assets Total Assets
45,024 23,437 1,279,184 1,395,164
LIABILITIES and NET ASSETS Current liabilities Mortgage note payable, long term portion
47,089 59,956 135,123 140,356
Net assets
1,096,972 1,194,852
Total Liabilities and Net Assets
1,279,184 1,395,164
38 The Conway School Graduate Program in Sustainable Landscape Planning + Design