Three beautiful fall days in September helped the Common Ground Country Fair reach an all-time record for attendance with 62,100 visitors. That helped MOFGA to have a successful year financially, as well. A decade ago MOFGA relied on the Fair for two thirds of its income each year. Now the Fair represents just below 40% of our revenue, and memberships and donations are at the same level. This gives us much more financial stability since our budget is not entirely dependent on three good days.
A major donation towards educational space helped to improve our long-term financial position as well.
Major physical improvements this past year included a 10kW windmill that is helping to lower our electrical costs and work on the physical infrastructure for the Fair.
Late in the year MOFGA received a major grant that will fund our new farmer training projects for the next two years. The Certification program continues to grow while covering its costs.
One step the Board has taken to improve long-term financial stability is to dedicate life memberships to the endowment. Last year 16 people became life members, adding $20,000 to MOFGA’s long-term funding base.
Thank you for your continued generous support for MOFGA’s programs.
Russell Libby, Executive Director
Statement of Financial Position
| |
As of 12/31/07 |
As of 12/31/06 |
As of 12/31/05 |
As of 12/31/04 |
|
Assets
|
|
|
|
|
|
Current Assets
|
542,001.00 |
194,346.00 |
203,257.00
|
206,665.00
|
|
Property & Equipment
|
2,634,517.00 |
2,667,186.00 |
2,604,031.00
|
2,647,726.00
|
|
Total Assets
|
3,176,519.00 |
2,861,532.00 |
2,807,288.00
|
2,854,391.00
|
|
Liabilities and Fund Balances
|
774,799.00 |
760,211.00 |
813,150.00
|
894,344.00
|
|
Net Assets
|
|
|
|
|
|
Unrestricted
|
1,965,168.00 |
1,920,848.00 |
1,910,809.00
|
1,918,815.00
|
|
Temporarily Restricted
|
299,372.00 |
59,794.00 |
28,622.00
|
5,000.00
|
|
Permanently Restricted
|
137,179.00 |
120,679.00 |
54,707.00
|
36,232.00
|
|
Total Liabilities & Net Assets
|
3,176,519.00 |
2,861,532.00 |
2,807,288.00
|
2,854,391.00
|
Statement of Activities
| |
As of 12/31/07 |
As of 12/31/06 |
As of 12/31/05 |
As of 12/31/04 |
|
Total Operating Revenue & Support
|
1,866,587.00 |
1,481,722.00 |
1,277,722.00
|
1,161,703.00
|
|
Total Operating Expenses
|
1,477,160.00 |
1,287,058.00 |
1,160,872.00
|
1,112,341.00
|
|
Change in Net Assets from Operations
|
389,427.00 |
194,664.00 |
116,850.00
|
49,362.00
|
|
Other Changes (depreciation, gains)
|
-89,029.00 |
-87,481.00 |
-82,759.00
|
-80,909.00
|
|
Total Change in Net Assets
|
300,398.00 |
107,183.00 |
34,091.00
|
-31,547.00
|