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Welcome Members!

Bay Community Theatre

Annual Members Meeting

February 10, 2025

Today’s Agenda

• Some Context: who, what, & how

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• 2024 Review & Looking Forward

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• Questions? Comments?

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• Election Results.

….and stay for the free movie & popcorn!

Some Context

Quick Snapshot

• 501(c)3 non-profit charitable organization. Tax exempt.
• Board of Directors (7 members).
• Membership organization.
• 2-3 paid staff members.
• Open 364 days a year.
• Guided by our mission:

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Our mission is to enhance the access and appreciation of cinema, performing, and literary arts by providing a local venue for cultural, intellectual and educational programs, and to maintain and protect the historic Bay Theatre building.

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A Small, Stable Leadership Team

Our Board: (7 members)

• Rick Andrews, President (2018)
• Jim Nairne, VP Finance (2019)
• Jeff Slocombe, Secretary (2018)
• Sherry Edwards (2019)
• Cheryl Hutchinson (2022)
• Jim Koch (2022)
• Brenda Briggs (2023)

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General Manager: Reporting to the Board

• Graham Powers (2023)

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Hard Working Committees

Committees:

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• Programming - Sherry Edwards
• Development - Cheryl Hutchinson
• Volunteers - Denise Genoa
• Membership - Brenda Briggs
• Marketing & Graphics - Jim Koch, Kari Karr
• Live Events Team - Sherry Edwards/Jim Koch
• Finance & Legal - Jim Nairne, Jeff Slocombe
• Operations: Graham Powers

2024 Review

2024 Was Another Strong Year

• 12,900 visitors and revenue growth of 1% despite a weak Hollywood.

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• Live events were a big hit: 30% of total revenue!

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• Memberships grew +17% to over 400.

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• Community partnerships & sponsorships made a big difference.

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• Donations were very strong! Thank you!

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• Major capital improvement funded: $120,000 new 4k laser projector.

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• The Bay is in strong financial shape. +$106,000 net income in 2024.

What Makes this Work?

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Our 3 Pillars

Your Theatre Experience

Team & Governance

Community Engagement

Your Experience:

Great Movies Everyday

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Question:

What were the Top 4 Movies

of 2024 at The Bay?

Here’s a hint…

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Great Movies Everyday

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#1

#2

#3

#4

Our Top 4 Movies - 2024

“Made In Michigan” Film Series

Cinema Society is our new tradition

11 classic films. Presented by local film historians.

Tickets only $2.

Free for members.

Live at The Bay!

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Your Theatre Gets Better & Better

State-of-the-art Laser Projection System

• Brighter image.
• More vivid colors.
• Deeper blacks.
• Less maintenance.
• Lower supply costs.
• Lower energy usage.
• Remotely controllable.

Other Improvements: $26,000 in various other repairs and updates.

What Makes this Work?

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Our 3 Pillars

Your Theatre Experience

Team & Governance

Community Engagement

Memberships Continue to Grow

Total Memberships: 419

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+61 members vs. 2023. +17%

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Growth in all levels of membership:

Basic: +30

Premium: +17

Sustainer: +4

Over $30,000 in critical revenue $ of the theatre!

Thank you!

Community Events & Partnerships

Reaching Families with $1 Movies

Last year, because of the popularity of our $1 Family Matinees, we decided to extend the series with three extra shows!

Sponsorships Make an Impact

What Makes this Work?

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Our 3 Pillars

Your Theatre Experience

Team & Governance

Community Engagement

Our Team & Governance

• Board of Directors is a “working board”.
• No drama!
• Careful and transparent money management.
• A business orientation.
• Focus on our Mission.
• Have fun. The Bay is a place of joy!

Our Simple Approach

Financial Results Update

2024: Attendance slips after a big 2023

Total Tickets Sold:

2019: 17,363

2020: 3,783

2021: 6,954

2022: 11,848

2023: 13,521 – Barbie, Oppenheimer!

2024: 12,853 -5% vs. 2023

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Live Events = 14% of tickets sold.

30% of ticket revenue!

Theatre Revenue was Stable in ‘24

# of Tickets 12,853 -5%

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Ticket Sales $ $123,225 +1%

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Concessions $46,726 -4%

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Total Core Revenue $174,374 -1%

Everyday theatre operations.

— Excludes donations, memberships, property rental, sponsorships.

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2024

Vs. 2023

Excellent Overall Results in 2024

Theatre Revenue $174,374

Other Revenue 264,583

Total Revenue $439,957 +25% vs. 2023

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Cost of Goods 94,694

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Expenses 238,081

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Net Gain $106,182 +56% vs. 2023

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2024

What is “Other Revenue”?

Donations $162,641 Memberships $30,120

Sponsorships $6,740

Prop. Rental $41,841

Interest income, Other $23,241

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Total $264,583

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2024

+80% vs. 2023

+22% vs. 2023

+10% vs. 2023

+51% vs. 2023

So, what if we ONLY had theatre revenue?

Theatre Revenue $174,374 – movies & live events

Other Revenue 264,583 – donations, members, sponsors, other

Total Revenue $174,374

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Cost of Goods 94,694 – costs of films and events

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Expenses 238,081

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Net Loss –$158,401

Community support is the ONLY way we survive

2024

Balance Sheet is Strong

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Current Assets $357,110

Fixed Assets $991,548

Total Assets $1,348,659

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Current Liabilities $55,421

LT Liabilities $438,292

Total Assets $493,713

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Total Equity $854,946

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— Cash & Liquid Investmts

— Building & Equipment.

— Mortgage.

Looking Ahead

All New Sponsorship Program for 2025

Doc Probes & the Riptides - Feb. 15th

Kennedy’s Kitchen - March 16th

Returning for a 6th annual St. Patty’s celebration, Kennedy’s Kitchen will be returning for a wonderful evening of live entertainment.

“Made in Michigan” Film Series

• Sunday, February 23rd at 2:00PM: The Search for Anna and Levi by the Leelanau Historical Society
• Sunday, March 30th at 4:00PM: Dogman 3 by Director Rich Brauer
• Sunday, April 13th at 4:00PM: Detroit the City of Chefs by Director Keith Famie

Looking Further Ahead

Investments Priorities

Patron

Experience

Our Historic Building

Projection and sound equipment

Repairs are becoming more frequent and costly.

Failures have resulted in cancelled shows and patron refunds

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Entrance, Lobby, Box Office, and Concessions Area

Poor customer flow. Delays. Poor patron experience for popular events.

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Building Facade & Marquee

Fragile and portions are quite deteriorated.

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DONE!

“Front of the House” – improvements

• Much better restrooms.

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• Improved Patron Flow.

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• Updated Lobby & Entrance

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• Restored Marquee & Facade

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Preliminary Layout Only - Lobby

So, In Summary….

• 2024 was another great year. The Bay is in great shape.

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• The community is the key! Members, donors, sponsors! Thank you!!

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• We have much more to do!
• Protect/Improve the Patron Experience and our historic building.

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• Don’t Forget! Buy Your Tickets!
• Doc Probes & The Riptides - Feb 15th
• Kennedy’s Kitchen - March
• Made in Michigan Film Series

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Questions? Comments?

Election Results

Thank You!