2021-22 Fiscal Year Financial Snapshot
Lakeside Chautauqua is a unique and special place. Each person who steps on the grounds experiences Lakeside in a different way through family moments, healing time, inspiring worship, lifelong learning, arts performances, challenging recreational activities and much more. These are the transformational experiences we hope to preserve at Lakeside for many years.
Lakeside Chautauqua is a nonprofit 501 (c)3 organization that manages roughly one square mile of land with historic buildings, roads and structures. With programming across all four Chautauqua pillars, the holistic Lakeside experience makes an impact on individuals every year. Throughout the last few challenging years, Lakeside has not wavered from its mission to provide a place for rest and renewal, foster Christian values and create opportunities to grow – spiritually, intellectually, culturally and physically.
Multiple Revenue Sources
Lakeside has multiple revenue sources, which help strengthen its long-term financial sustainability.
Lakeside’s revenue totaled approximately $8.1 million, from the 2021-22 fiscal year unaudited financial statements. This is excluding restricted and unbudgeted revenue of $1.529 million.
Cost of Operating Lakeside
The cost to operate Lakeside and the Chautauqua experience we know and love takes millions of dollars each year. In 2021-22, Lakeside was still operating under COVID-19 protocol.
For the 2021-22 fiscal year, the total expenses were approximately $7.6 million from the unaudited financial statements. This is excluding $106,000 expenses from restricted funds, as well as depreciation, Realty, and the Memorial Garden at Chautauqua Park.
Through the challenges and pandemic over the last two years, Lakeside has made revisions and improvements to management and operations of the organization by implementing best practices to make better and more timely decisions, save money and streamline operations. We started this process and we are already seeing cost saving benefits from our internal reviews.
We have applied zero-based budgeting and changed our fiscal management process of planning expenses before revenues. This process of continuous improvement is now part of how we will run the business.
In previous years, our audited financial statements were completed and released during the first part of August. Timing is different this year due to a financial software conversion and the auditor’s timeline.
It is vital for Lakeside to continue to grow the endowment, investments that support the future of Lakeside. Lakeside distributes 4% of its three-year rolling average endowment balance to support the Chautauqua programming, preservation of historic buildings and our beautiful grounds.
At the end of 2021-22 fiscal year, Lakeside’s Endowment totaled more than $9 million. Many families have planned a legacy gift to help grow the endowment and you can, too. For more information, contact firstname.lastname@example.org.
Lakeside is a generous community and each year many families and individuals step forward to give financially or lend a hand by volunteering.
This generosity transforms individuals and families as they visit the shoreline. You can make a lasting impact on a family by giving a gift and volunteering.