2017-2018 Annual Report

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Penn Museum 2017-18 Statement of Fiscal Year Activity

Photography by Raffi Berberian.

The Penn Museum is funded through a variety of sources, including investment income (managed with the University of Pennsylvania endowments); gifts from individuals, foundations, and corporations; grants; subvention from the University of Pennsylvania; and earned revenue from admissions, catering, and rental fees, artifact loan fees, traveling exhibition fees, publications, and K–12 and public programs.

Total Revenue

Total Expenditures

Revenue

Source FY17 FY18
Investment Income $4,818,880 $4,951,440
Gift Income $7,345,939 $6,682,695
Sponsored Program Revenue $677,313 $864,002
University Subvention (Programmatic & Allocated Costs) $9,449,000 $9,635,000
Earned Revenue and Resource Transfers $2,066,801 $1,911,443
Total Revenue $24,357,934 $24,044,580

Expenditures

Source FY17 FY18
Total Compensation $10,467,728 $11,251,054

Current Expense

Source FY17 FY18
Traveling Exhibitions and Loan Costs, Other Travel & Entertainment $664,687 $738,849
Supplies & Minor Expense $661,016 $533,986
Non-Capitalized Equipment $101,488 $181,785
Rental Income (Internal) Transfers $(188,345) $(242,378)
Communications & Computering $658,603 $582,291
Professional & Other Services $2,579,596 $4,687,883
Operations & Maintenance $1,044,719 $2,022,358
Other Current Expense $17,906 $82,845
Total Current Expense $5,539,670 $8,587,618
Source FY17 FY18
Capital Transacations $2,821,709 $2,360,717
Source FY17 FY18
Internal Penn Income (Expense Credits) $(1,189,275) $(813,737)
University Allocated Costs FY17 FY18
Library Charges $779,000 $806,000
Facilities Maintenance Charges $2,900,000 $2,962,000
University Services Charges $1,428,000 $1,471,000
Development Charges $1,349,000 $1,398,000
Research Charges $6,000 $4,000
Total University Allocated Costs $6,462,000 $6,641,000
Source FY17 FY18
Total Expenditures $24,101,832 $28,026,651
Source FY17 FY18
Total Operating Surplus/(Deficit) $256,102 $(3,982,071)

June 30, 2018 (with comparative totals for the year ended June 30, 2017). The fluctuation in performance from Fiscal Year 2017 to Fiscal Year 2018 was driven primarily by transactions relating to capital projects and new galleries and their associated timing of funding.