SUNSET CULTURAL CENTER, INC. STATEMENT OF ACTIVITIES FOR THE YEARS ENDED JUNE 30, 2009 AND JUNE 30, 2008

ABSTRACT: A Table of STATEMENT OF ACTIVITIES FOR THE YEARS ENDED JUNE 30, 2009 AND JUNE 30, 2008 for SUNSET CULTURAL CENTER, INC. (SCC) is presented. COMMENTS in the form of analysis are made. NOTE: STATEMENT OF ACTIVITIES FOR THE YEARS ENDED JUNE 30, 2009 & JUNE 30, 2008 provided courtesy of Finance Manager Agha Bilal.

SUNSET CULTURAL CENTER, INC.
STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 2009 and JUNE 30, 2008

REVENUE AND PUBLIC SUPPORT:
Revenue (Totals):
$353,694 (2009) $590,426 (2008) Ticket sales
$193,333 (2009) $194,660 (2008) Theater rental
$113,700 (2009) $137,792 (2008) Facility use and other fee income
$189,420 (2009) $203,022 (2008) Reimbursed expenses
$ 9,122 (2009) $ 17,706 (2008) Investment income
$124,804 (2009) $126,501 (2008) Rental and other income

$984,073 (2009) $1,270,107 (2008) Total Revenue

Public Support:
$713,000 (2009) $750,000 (2008) Enabling grant (City subsidy)
$32,215 (2009) $0 (2008) Friends of Sunset
$346,312 (2009) $0 (2008) Foundations
$0 (2009) $2,021 (2008) Performance Carmel Venture Fund
$0 (2009) $28,622 (2008) Producers Guild
$6,283 (2009) $25,987 (2008) Other grants and donations
$23,125 (2009) $0 (2008) Show sponsorships
$14,250 (2009) $11,250 (2008) In-kind donation
$0 (2009) ($ 61,110) (2008) Net assets released from restrictions

$1,135,185 (2009) $817,880 (2008) Total Pubic Support

$2,119,258 (2009) $2,087,987 (2008) Total Revenue & Public Support

EXPENSES (Totals):
$1,342,196 (2009) $1,486,021 (2008) Theater services
$232,527 (2009) $235,729 (2008) Community services
$368,831 (2009) $ 326,835 (2008) Management and general

$1,943,554 (2009) $2,048,585 (2008) Total expenses

$175,704 (2009) $ 39,402 (2008) CHANGES IN NET ASSETS
$503,573 (2009) $464,170 (2008) NET ASSETS, BEGINNING
$679,277 (2009) $503,572 (2008) NET ASSETS, ENDING

COMMENTS:
• Net Assets increased from $464,170 (FY 2006/07) to $503,572 (FY2007/2008) to $679,277 (2009/2009) from 2006 to 2009.

• For the years ending June 30, 2008 and 2009, Net Assets increased a total of $215,106 [$175,704 (2009) $ 39,402 (2008)] while the City subsidy decreased $37,000 [$713,000 (2009) $750,000 (2008)].

• Arguably, if the City managed the Sunset Center instead of Sunset Cultural Center, Inc., the City would have $679,277 to expend on renovating and rehabilitating the Scout House, Forest Theater and/or the Flanders Mansion and/or maintaining Mission Trail Nature Preserve, for example.