With the summer season now in full swing, the valley is once again alive with the sounds of singing, laughter, and meaningful conversations that so often accompany connecting and reconnecting. It’s always a joy to see familiar faces return and new ones discover what makes this place so special.
Before we step too far into the season, I want to update you on Montreat Conference Center’s recently completed fiscal year, which ended April 30th. As we gather thousands of people, it’s fitting to observe, by the numbers, how thousands of people came together this past year to make the summer season possible.
First, some background. Along with capital damage to our campus and around the Town of Montreat, Hurricane Helene forced a suspension of our scheduled programs and hospitality from October through December. As normal activities skidded to a stop, we recorded a net loss in earned revenue of $464,000. We spent the remainder of the fiscal year managing logistical challenges and uncertainty along with efforts to respond to the impact.
And yet, the year appears to have concluded with promising results. When final numbers are in, we do expect to report a slight operational deficit, but by April 30th the loss noted above had been trimmed to around $33,500 – and that number does not include any insurance recovery from the business interruption brought on by Helene. Our insurance policy includes business interruption insurance, and we expect that to add to the positive news. Of note:
- The Montreat Fund was a standout success, exceeding its budgeted goal by over $200,000. This outpouring of support from donors was both humbling and critical to our financial performance, providing vital stability during our closure and reinforcing confidence in our recovery and stability.
- Equally encouraging, other revenues over the nine months of the fiscal year we were open also exceeded budget expectations, a testament to the strength of our programming, the loyalty of our guests and program participants, and the creativity of our staff in adapting to shifting circumstances.
- Furthermore, disciplined expense management over the course of the year generated meaningful savings.
Also of note, the Montreat Fund’s outperformance, while certainly a response to Helene, comes in addition to the almost $1.3 million in restricted funds donated thus far for hurricane relief. We have targeted those funds for uninsured needs, and Montreaters may already recognize the impact of those donations in the restoration of Lake Susan, the new bridge behind Anderson Auditorium, and other restored areas. As of April 30th, just over $666,000 remained of these funds, and we assigned a list of items for its use, pending the resolution of our insurance claims.
While there is still much to sort through, the end of our fiscal year gives us a chance to reflect on the past twelve months – and to share some good news about how your support has helped us grow and thrive, truly a clear affirmation of the vitality of Montreat and the people who continue to make this ministry stronger than ever. Thanks be to God!
Richard DuBose
President, Montreat Conference Center