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Deficit/Surplus VOICES is a large non-profit community arts organization serv ing <br />Orange County for 40 years. Our av erage operating budget is $80,000 <br />+/- 7,000, as required for the season’s programming. As a mature <br />organization, our current fiscal goals are to begin each season with 6 <br />months of operating funds ($40,000) and to grow our endowment <br />incrementally to at least $100,000 to ensure financial stability. <br />FY18-19 was Stephen Futrell’s first season with VOICES. A v ery cost- <br />effectiv e season was designed that still pushed the artistic env elope. <br />Happily, the artistry of the Fall concerts resulted in critical acclaim <br />(CVNC) and a 20% jump in Spring membership to both choruses. <br />Riding that energy Dr. Futrell offered an unbudgeted Summer Voices <br />concert that was financially successful. The ov erall result was a <br />surplus of $11,558 in FY18-19, yielding end-of-year operating <br />reserv es of $35,000. That was fortuitous. <br />Originally designed to achiev e a small surplus, the FY19-20 season <br />was cut short by the COVID-19 pandemic. All Spring 2020 ticket <br />rev enues and most Spring donations were lost; the majority of music <br />and orchestral costs had been incurred in the Fall; and VOICES paid <br />for remote rehearsals/sing-alongs for the well-being of our members <br />through June. Thus, FY19-20 ended with a $13,496 deficit. <br />As of 8/1/2020 ASSETS totaled $82,928 ($20,179 unrestricted <br />operating funds; $62,749 semi-restricted endowment funds with <br />$5,000 encumbered for a major choral commission). Here VOICES <br />submits two scenarios for FY20-21: The PLANNED budget assumes <br />in-person singing and concerts will be permitted before May, 2021, <br />allowing the premiere of the commissioned work and a CONTINGENT <br />budget if we remain restricted to v irtual choirs. The PLANNED budget <br />predicts a surplus of $4,359; the CONTINGENT a deficit of 4,516. In <br />the latter case, VOICES will draw from its endowment funds as <br />necessary and conduct additional fund-raisers in FY21-22. <br />PROJECT/PROGRAM <br />INFORMATION <br />Tell us about your project or program <br />Title of Grant <br />Request <br />Salary Support for VOICES Chapel Hill Chorus <br />Grant Amount <br />Requested <br />$3,000 <br />Is the person in <br />charge of this <br />program or project <br />different from the <br />Authorizing Official? <br />No <br />W hat are you <br />requesting funding <br />for? <br />Operational expense (arts organizations ONLY) <br />DocuSign Envelope ID: 9F1C561B-832A-4222-87B0-7A0980362B9B