2011 Annual Report of the Georgia Historical Society Fiscal Year 2011
Annual Report for Fiscal Year 2011 Annual Report of the Georgia Historical Society Fiscal Year 2011 INTRODUCTION W. Todd Groce, PhD President and Chief Executive Officer Fiscal Year 2011 (July 1, 2010-June 30, 2011) was a banner one for the Georgia Historical Society. Due to the launch of a capital and capacity building campaign the institution enjoyed its most prosperous year in nearly 175 years of continuous operation. As evidence of this, GHS raised a record $5 million for educational programming, archival services, capital projects and endowment. The endowment continued to rebound, and at the end of the fiscal year reached $6.54 million, close to its pre-recession level. Total assets grew from $7,382,181 in FY10 to $13,476,604 at the end of FY11, an increase of 82.5 percent. This healthy bottom line was due in part to careful financial management, dynamic board leadership, a recovering stock market, and the creation of two new endowment funds: the Dr. Henry Sauls Fund, established by a gift of $25,000 from John and Laura Wallace; and the Allan Gaynor Fund, established by an initial bequest of $300,000 from Alan Gaynor, a long-time supporter of GHS. The primary reason, however, for the significant increase in the Society’s net assets was the acquisition in June 2011 of the property at 104 West Gaston Street in Savannah for development as the Jepson House Education Center. Named in honor of philanthropists and higher education champions Robert and Alice Jepson, this is the first physical expansion of the Georgia Historical Society in forty years.
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