DAC FINANCIAL REPORTS

FINANCIAL HIGHLIGHTS FOR FISCAL YEAR 20/21

The Fiscal Year 2020-2021 season was definitely a challenge from a financial perspective.  We were closed for the first 8 ½ months of the Fiscal Year (July 2020 – Mid-March 2021) so we essentially had no sales income during that period while our operating expenses did not diminish.  

However, we did investigate and apply for some Grants, and we were successful!  

• In September 2020 we received $10,000 from the Inland Empire Community Foundation which we applied towards our very high electric bills as well as for payroll. 
• We received a $9,800 Grant from Ruth Reed in November 2020 that funded the Middle School Art Program for the current Fiscal Year.
• We received $15,000 from the California Small Business COVID-19 Relief Grant Program in May 2021.  This allowed us to recoup some of the operating expenses we incurred during the shutdown.
  
• In June 2021 we were notified that our $10,800 grant application to the Anderson Children’s Foundation was approved.  This will fund the Middle School Art Program for the next Fiscal Year.

Consignment sales re-started in Mid-March 2021, and sales have been higher than expected.  For example:

May 2019 sales: $10,000
May 2021 sales: $18,000.  

June 2019 sales (Sat,Sun): $435
June 2021 sales (Fri, Sat,Sun): $8,500.  

Great numbers!!

In spite of the grants, sales and donations, we operated at a loss for this Fiscal Year, however the loss was not as high as expected, and The Desert Art Center is in a sound financial position with over $110,000 in assets.  We look forward to growing our business in the 2021/2022 season and beyond.

Cindy Mason

Treasurer

Desert Art Center

Fiscal Year 17-18

Income and Expense Apr FYTD17-18

Income and Expense Detail Apr FYTD17-18

Budget vs. Actuals Apr FYTD17-18

Balance Sheet FYTD Apr 17

Budget Overview FY17-18

Fiscal Year 15-17