Annual Report, 2014
For the last six years Kingwood has been on a new trajectory. We understand that our future depends on more income diversity, and a more market oriented approach to offering Mr. King’s estate, a place where the joys, appreciation and knowledge of gardens, gardening and associated interests can be cultivated. We need to earn and raise more money to support our mission while making more efficient and targeted use of the resources we have. We have made steady progress on all counts, but 2014 brought some vital advances.
Our earned income rose 11% over 2013 to $264,051; our endowment income increased by 6% to $750,000, but our contributions and grants increased by 1,780% to $610,635!
With the generous gifts we have initiated some vital planning. Terra Design Studios of Pittsburgh has assembled a team of advisors to guide Kingwood through a master planning process that should prove vital in guiding us along our new path of providing better more profound experiences for our visitors while bolstering the long-term viability of Kingwood Center. The planning is expected to be completed in July of 2015.
Our operating expenses for 2014 were $1,014,896 which was comfortably below the $1,020,005 budget. Capital and special operating expenses took initial advantage of some restricted gifts to venture $9,343 over budget and spend $81,593. Our net operating assets increased from $164,951 in 2013 to $758,193 at the end of 2014.
We were very saddened by the death of long time Kingwood employee, Charles Applegate. Charles was the embodiment of Kingwood horticulture. As Charles continued working through his seventies and into his eighties others gradually assumed responsibility for his daily duties, but it is hard to imagine anyone replacing his infectious love of gardening.
Our fourth Great Pumpkin Glow was a smash hit. Expanded to two days the event attracted almost 7,000 visitors and earned Kingwood Center over $24,000. It was a maximum effort of every resource we could garner from staff to volunteers to hired policemen to cooperative Mansfield School administrators, to contributors and sponsors and on and on.
We are very grateful to all of our supporters, but special mention should be made of those who have given us $1,000 or more over the past year.
James R. Borden: $463,261
James and Johanna Bodiford: $100,000
Michael McKinley: $5,000
Ohio Daylily Society: $2,500 for the Applegate Memorial Fund
William B. Sharp & the Sharp Family Foundation: $2,000
Richland County Foundation Designated Funds:
Rex E. & Marjorie Sue Collins Fund: $2,204
William & Katherine Jane McCarrick Fund: $3,129
Rowland & Delight Patricia Poth Fund: $8,516
Sara & Eugene Goin Donor Advised Fund: $3,000
Kingwood Center Fund: $15,000
Fran & Warren Rupp Donor Advised Fund: $6,300 for a summer and a winter intern
Marian Bonte Fund of the Community Foundation of Tampa Bay: $1,074
Med Central Hospital: $1,500 for our Kingwood 5K Run
Century Link: $2,500 for the Great Pumpkin Glow
MEMBERSHIPS @ the $1,000 level:
John & Mimi Fernyak
Tom & Lola Riester
Dan & Sue Phallen
Richard & Helen Taylor
Robert and Sandra Baxter