Arts and Culture Observatory - Research - 2004-05

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Financial Analysis 2004-05

The Financial State of the Arts in Southwestern Pennsylvania 1999 - 2002 Full Report
Table of Contents

Chapter One: All Sizes			3-14
	Introduction		3
	Statement of Purpose		4
	Caveats		5
	Financial Formulas		6
	Comparisons Among All Sizes		8
		Composition of Income	9
		Earned Income	10
		Consumer Spending	11
		Stock Market Effect	12
		Program Services Ratio	13
		Cash Flow Coverage	14

Chapter Two: Small Organizations			15-34
	Introduction		15
		Sample Size	16
	Income and Expenses		17
		Margin of Surplus (Deficit)	17
		Cash Flow Coverage	17
	Sources of Income		18
		Composition of Income	18
		Earned Income	19
		Government Income	20
		Private Income	23
		Endowment Income	26
	Sources of Expenses		27
		Composition of Expenses	27
		Program Expenses	28
		Administration Expenses	30
		Facility Expenses	32
	Performance Ratios		33
		Fundraising Effectiveness	33
		Total Liabilities to Net Assets Ratio	33
	Conclusion		34

Chapter Three: Mid-Size Organizations			35-54
	Introduction		35
		Sample Size	36
	Income and Expenses		37
		Margin of Surplus (Deficit)	37
		Cash Flow Coverage	38
	Sources of Income		39
		Composition of Income	39
		Earned Income	40
		Government Income	41
		Private Income	44
		Endowment Income	46
	Sources of Expenses		47
		Composition of Expenses	47
		Program Expenses	48
		Administration Expenses	50
		Facility Expenses	52
	Performance Ratios		53
		Fundraising Effectiveness	53
		Total Liabilities to Net Assets Ratio	53
	Conclusion		54

Chapter Four: Large Organizations			55-75
	Introduction		55
		Sample Size	56
	Income and Expenses		57
		Margin of Surplus (Deficit)	57
		Cash Flow Coverage	58
	Sources of Income		59
		Composition of Income	59
		Earned Income	60
		Government Income	61
		Private Income	64
		Endowment Income	67
	Sources of Expenses		68
		Composition of Expenses	68
		Program Expenses	69
		Administration Expenses	71
		Facility Expenses	73
	Performance Ratios		74
		Fundraising Effectiveness	74
		Total Liabilities to Net Assets Ratio	74
	Conclusion		75

Glossary			76