Page 30 - Fiscal 2022 Impact Report

FINANCIAL REVIEW

Fiscal Year April 1, 2021 to March 31, 2022

The Board of Trustees of the Chicago Zoological Society
T he B oar d of T r ust ees of the C hic ago Z oologic al S ociet y T hese r esults w er e driv en b y a c on tinued focus on cr ea ting r ev enue
These results were driven by a continued focus on creating revenue
(the “Society”) is pleased to report positive financial
(the “S ociet y ”) is pleased t o r epor t positiv e financial oppor tunities and c ost- c on tainmen t effor ts a t the B r ookfield Z oo
opportunities and cost-containment efforts at the Brookfield Zoo
esults w
er
esults for fisc
al 2022.
T
hese r
results for fiscal 2022. These results were achieved (the “Zoo”). A total of 1,610,675 guests visited the Zoo in fiscal year
r
e achiev
ed
oo
ear
”). A t
“Z
(the
al y
oo in fisc
ed the Z
otal of 1,610,675 guests visit
w
as lo
e
el w
-C
despite the continued challenges posed by the COVID-19
VID
despit e the c on tinued challenges posed b y the C O VID-19 2022. This attendance level was lower than the Zoo’s pre-COVID
2022.
er than the Z
his a
T
endanc
tt
oo
e lev
s pr
’
O
ts on the na
tional
pandemic and its lingering ad
v
annual guest attendance, but a significant 72 percent increase over
erse effec
pandemic and its lingering adverse effects on the national annual guest a tt endanc e , but a signific an t 72 per c en t incr ease o v er
ed
al 2022, the S
and global ec
onomies
. In fisc
y r
ealiz
and global economies. In fiscal 2022, the Society realized fiscal 2021. Membership revenue of $15 million also surpassed the
ociet
al 2021. Membership r
ev
enue of $15 million also surpassed the
fisc
al O
per
ener
a G
ting F
und net surplus of $26 million prior
a
a General Operating Fund net surplus of $26 million prior S ociet y ’ s e xpec ta tions in fisc al 2022 b y nearl y $4.8 million.
Society’s expectations in fiscal 2022 by nearly $4.8 million.
o meeting c
tions
apital tr
ansfers and other financial obliga
t to meeting capital transfers and other financial obligations T hese positiv e financial impr o v emen ts , in par t , r eflec t the public’ s
These positive financial improvements, in part, reflect the public’s
curr
, and the impac
t changing a
en
of $20 million. T he r emaining net surplus incr eased the current changing attitude toward the pandemic, and the impact of
ttitude t
of $20 million. The remaining net surplus increased the
t of
ar
d the pandemic
o
w
egic initia
T otal Net Assets in the S ociet y ’ s G ener al O per a ting F und c certain Society strategic initiatives, including the popular animatronic
es
, including the popular anima
er
a
tain S
Total Net Assets in the Society’s General Operating Fund
y str
t
tiv
ociet
tr
onic
t
to $7.8 million as of March 31, 2022. Dinos Everywhere! exhibit, enhanced marketing programs, and the
o
$7.8 million as of Mar

ch 31, 2022.
ogr
, enhanc
inos E
e! e
eting pr
, and the
D
xhibit
er
ed mark
v
y
wher
ams
ongoing focus to improve the Zoo’s guest experience. .
v
s guest e
ongoing focus t
o
oo
e the Z
e
o impr
’
xperienc
o tr
endanc
e t
y also looks for guest a
end
o c
T
tt
ociet
The Society also looks for guest attendance to continue to trend
on
tinue t
he S
’
w
ar
ogr
s popular pr
oo
t toward pre-pandemic levels as more of the Zoo’s popular programs
e
o
e of the Z
-pandemic lev
d pr
ams
els as mor
y Z
y Pla
amil
and attractions—including Hamill Family Play Zoo and our summer
and a
oo and our summer
ttr
tions—including Hamill F
ac
e full
er
t series—ar
tional
onc
c
y oper
concert series—are fully operational. .
a
D uring fisc al 2022 the S ociet y also w elc omed our new pr esiden t
During fiscal 2022 the Society also welcomed our new president
v
, D
and CEO, Dr. Michael J. Adkesson, and continued to move forward
ichael J. A
dk
and CEO
e for
o mo
w
esson, and c
. M
on
r
ar
tinued t
d
elopmen
on the dev
e of the
on the development of a new Master Plan under the guidance of the
er Plan under the guidanc
t of a new Mast
e managemen
. S
ecutiv
x
ociet
ust
er
r
al major
ees and Z
t staff
S
Society Trustees and Zoo executive management staff. Several major
T
ev
oo e
y
y
ociet
, focusing on Z
y the S
oo
ed b
t
er
ts w
apital pr
e also initia
c capital projects were also initiated by the Society, focusing on Zoo
ojec
ed main
t
xperienc
e needs
e impr
enanc
deferr
, and
, guest e
deferred maintenance needs, guest experience improvements, and
ts
v
o
emen
xhibit enhanc
animal e
animal exhibit enhancements. .
ts
emen
T
The Society wishes to extend special thanks and appreciation to
tion t
ecia
y wishes t
ociet
he S
t
x
end special thanks and appr
o e
o
ook C
eser
, as w
r
or
t
tner
oun
est P
, our public par
ell as our
v
the Forest Preserves of Cook County, our public partner, as well as our
the F
es of C
y
very generous Trustees, Women’s Board members, Governing Member
o
erning Member
s B
v
y gener
er
v
’
T
ust
W
,
oar
d members
ees
ous
r
omen
, G
A mbassadors , and donors for their financial suppor t thr oughout
Ambassadors, and donors for their financial support throughout
fisc
ell as the tir
fiscal 2022. This support—as well as the tireless dedication and
eless dedic
tion and
t—as w
his suppor
a
al 2022.
T
t
tributions of our v
c
olun
eers and staff—
tain
c contributions of our volunteers and staff—continues to maintain
on
on
tinues t
o main
y
tion of the S

financial founda
the
ociet
the financial foundation of the Society. .
Michael P. Emmert
Treasurer, Board of Trustees of the Chicago Zoological Society
30 CHICAGO ZOOLOGICAL SOCIETY