The Financial Situation Bad News

Nickelodeon NewsSpring 2011

Here are a few items from the 2010 Annual Report presented at the meeting on Jan 18, 2011. If you want a copy of the complete 14 page report just drop us a line asking for one, please enclose $1.00 to cover some of the cost, and we will gladly send you one.

The Financial Situation Bad News:

1) This was a tough year for many non-profits, and though we were affected, our net results were quite good everything considered. We are still operating with 43 volunteers and only one part time paid employee, and keeping fixed expenses as low as possible.

2).Installation of the new roof top heating and A/C unit was completed in October, and the final cost came in at $15,424 which was $2076 below the original estimates

2) Our sustaining membership fell to 142. Helping cover our budget expenses were another 138 persons who donated, but chose not to become members. These numbers suffered from the general state of the economy.

3) Grants were down slightly, again affected by the economy.

Financial Situation Good News:

1) Utility costs were down for 2010 to an all time low of $7,996 from our high of $16,035 in 2001 mainly due to the effects of the $54,376 we have spent on 12 different energy conservation projects over the past 10 years.

2) We generated an operating surplus and almost all of it was used to reduce the loan we took for the elevator project.

3) Our operating cost per visitor was reduced, as our attendance was up and our costs did not increase.

4) The best news of all came in early April, 2011 when a grant from the Peters Trust allowed us to pay off the remaining $38,996 balance on the elevator loan.

Serving our Community

1) Our attendance was up by 15% to 3044..

2) The Mini-Event program of free one hour presentations continued with 424 attending the 12 events. That’s up 17%from 2009.

3) We provided space for several local organization meetings, and storage for materials owned by other non-profits.

4) We continued our repair service of antique music machines for the public.

5) We appeared at several public events with one or another of our self playing machines.

6) The free fourth grade tours were continued with attendance up at 350 for a recent high.

7) While not keeping regular hours during the winter, we gave many tours by appointment

Progress on Updating the Building:

1) The redecorating and painting of the third floor continued with the kitchenette reactivated by painting and installation of a donated sink and cabinets, all done with volunteer labor

3) With help from a grant the third floor ceiling was insulated, this being the last major step in the energy conservation project.

4) The tube type fluorescent lighting (mostly in the basement) was all converted to the new high efficiency T8 bulbs which required changing all the electrical ballasts in every fixture. The material cost was 67% covered by a grant, and the labor was done by volunteers. Another energy saving action.

6) More old unusable equipment was removed from the building.

7) The next step will be removal of the external fire escape and blocking up the doors leading to it. This will cost $10,649 and will give us another window in the third floor elevator lobby.

Progress With the Collections:

1) We received an 1877 Steinway upright piano which has been restored to playing condition.

2) We received a 1924 Pleyel grand piano built in Paris and equipped with the Auto-Pleyela reproducing system. The piano itself is in beautiful condition, but the reproducing system needs serious restoration. Until it closed after the 911 tragedy this piano was in the Museum of the American Piano near the trade centers in Manhattan.

3) In addition to the above we received over 50 separate items ranging from reed organs to radios, all of which are suitable for use in our exhibits.

4). Rebuilding of the Nelson Wiggen nickelodeon was completed and it is back on the main floor.

5) Repair of the Seeburg K which had never played since we got it was 99% completed.

Please consider helping us with the removal of the rusty external fire escape. Part of it has already fallen off the building and we want the rest off before it falls off. We invite those of you not now sustaining members to join us as members. Just let us know and we will send the proper paperwork

Please consider cutting off the bottom portion of this page, filling in the appropriate blanks, and returning your fully tax deductible donation in the enclosed envelope. Thank you for your past interest and we look forward to hearing from you. You may contribute via Visa or MasterCard if you prefer.

Yes, I’d like to help you out with the building renovation and instrument restorations.

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