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Financial Overview <br />FinancialOv erv iew_Submittable.xlsx <br />Organizational Financial Statements <br />MYCO_Statement_of_Activ ity_-_Fiscal_Year_ending_06-30-2024.pdf <br />MYCO_Budget_fy_2025_and_990_forms.pdf <br />Deficit/Surplus MYCO plans to use last year's budget surplus for updated photos of the <br />program by a professional photographer, a website redesign and <br />rebranding materials. The estimated cost for these updates is around <br />$6000. <br />MYCO also plans to use the surplus to offer small raises so that all MYCO <br />employees continue to receive competitive, living wages/salaries for the <br />work they are providing. The MYCO registrar's salary will increase from <br />$20/hour to $25/hour. Coaches will also receive a small raise from their <br />current hourly rate of $85/hour. <br />If the current or next <br />year budget <br />represents a 30% or <br />more change from <br />the year prior, please <br />explain why. <br />MYCO has begun receiving a yearly donation of $10,000 in honor of Tara <br />Gugnani, and this donation has changed our financial picture in the past <br />year. Tara Gugnani (MYCO participant 2018-2022) loved MYCO: the <br />camaraderie; the friendships; the shared music-making; the inspiration from <br />playing and rehearsing alongside older students, alumni, faculty and guest <br />artists. She passed away very suddenly at age 14 in 2022 and the yearly <br />donation in her honor is earmarked for two specific purposes each year: <br />1. The Annual Chamber Music Residency in honor of Tara Gugnani. Each <br />fall or spring (once each year), this Chamber Music residency brings a <br />string quartet or chamber ensemble to MYCO. The residency will include a <br />masterclass; a concert for MYCO students and their families; and a side- <br />by-side performance alongside the students in chamber orchestra. This <br />past spring, The Sebastians, a NYC-based dynamic and vital musical <br />ensemble specializing in music of the baroque and classical eras came for <br />the residency. For the spring of 2025, the residency will be bringing three <br />musicians from A Far Cry, a Grammy-nominated, Boston-based chamber <br />orchestra to MYCO in May, 2025. <br />2. The Annual Kindness Award in honor of Tara Gugnani is meant to inspire <br />the entire MYCO community to "choose kindness as their go-to emotion, as <br />Tara did." Each year, one student will receive a Kindness Award in <br />recognition of their kindness, thoughtfulness and good citizenship at <br />MYCO. This award enables the student to participate in MYCO with a <br />scholarship for the coming academic year. This past year, Amelia Kelley <br />(violist, just completed senior year at ECCHS) and Ken Mori (violin/viola, <br />resident of Chapel Hill who just completed junior year at the Carolina <br />Friends School) received the Kindness Award in honor of Tara Gugnani. <br />Are you an entity of <br />UNC-Chapel Hill or <br />another unit of state <br />government? <br />No <br />PROJECT/PROGRAM <br />INFORMATION <br />Tell us about your project or program <br />Docusign Envelope ID: F72C8FCD-001E-42EF-9838-C92A0ECDE2DA