FINANCIAL OVERVIEW

As our state emerged from the pandemic, we were happily able to resume a full fiscal year of concert operations. With Rockport Music back in full swing, we successfully presented nearly 150 concerts and broadcasts, resumed the Jazz Workshop program and produced two gala events.

We benefitted as an organization by successfully applying for and receiving federal Covid relief funding through the Shuttered Venue Operators Grant (SVOG) and the Payroll Protection program. These funds assured that we could retain our valuable staff, rebuild our operations and stay connected with our audiences during the pandemic. With FY2022

Ticket Income ($1,541,732) down 13% from FY2019 ($1,774,409), the last full fiscal year for comparison, these funds provided invaluable support for us as we continue to diligently rebuild our audience. We closed the fiscal year with an operating surplus of $827,749.

As always, we are truly grateful for our loyal and dedicated donors who continued to generously provide philanthropy throughout this period of uncertainty. Our investment portfolio reflected overall market conditions as our investments lost $1.2 million in value. The potential loss was mitigated by an outstanding Board Investment Committee who carefully positioned us and thoughtfully managed our assets over this challenging period. This $1.2 million investment loss combined with our $827,749 operating surplus produced an overall total company loss of $597,000. We are proud of our strong operating performance. At the close of FY2022, Rockport Music has total assets of over $31 million.

Additionally, we are transitioning to a new closing date for our fiscal year, which will now close each March 31st and our next report (FY ‘23) will reflect a seven month-period. As we move ahead, we will continue to refine our operational costs while providing diverse and engaging programs to our patrons and expanding our educational initiatives.

Dianne Luby FINANCE CHAIR (2021–2022)

BALANCE SHEET 2021–2022

Thanks to our many outstanding individual, corporate, foundations and government supporters, I am very pleased to report that we have, once again, exceeded all of our fundraising goals for our 2022 fiscal year.

Due to the generosity of our individual donors, the Annual Fund reached $1,058,893, 109% of our goal. Strong support from our corporate sponsors, the outstanding success of our Gershwin and Friends Gala, which netted $140,000, and critical funding from the Massachusetts Cultural Council for post-pandemic recovery of arts organizations, took us 25% over our total goal, with an overall fundraising result of $2,098,320.

I extend my sincerest appreciation to the many generous individuals and organizations whose support makes it possible for us to fulfill Rockport Music’s mission. I would also like to thank our many volunteers including our Board of Trustees, Trustees Emeriti and Council and the dedicated members of our fundraising committees, including the Development, Planned Giving and Gala Committees. Thank you to our talented and hardworking staff for their commitment throughout the year.

Together we make beautiful music!

Jeannie McIntyre DEVELOPMENT CHAIR (2021–2022)

GIFT REVENUE FROM ALL SOURCES 2021–2022

This chart and the gifts recognized on the following lists include annual gifts from all sources given during Rockport Music’s 2022 fiscal year, September 1, 2021 to August 30, 2022. Differences from the financial overview may exist due to the accounting recognition of gifts.

$2,098,320 TOTAL PHILANTHROPIC SUPPORT

1,053 DONORS 56 FIRST-TIME DONORS 65 MEMBERS PLANNED GIVING SOCIETY

100% BOARD PARTICIPATION