2024 Annual Report : simplebooklet.com

Dear Timanous Family: Thank you for your warm and enthusiastic welcome. I’ve enjoyed visiting with and learning from you over the course of the past four months, and I look forward to days in June when I hope to see you on the shores of Panther Pond. This fall I’ve had several opportunities to reconnect with the Timanous community. I’ve attended camper and alumni gatherings in Washington, DC and Boston, MA, reached out to current and prospective families, talked with members of the counseling staff, and engaged with loyal friends. The common thread from these interactions is that the Timanous Spirit is alive and well. The experiences our current campers share with the alumni as far back as the 1940s are remarkable, a testament to the time-honored values that Luther Gulick instilled in each of us - body, mind, and spirit - starting more than 100 years ago. Because my responsibilities as Head of School at Boulder Country Day command most of my attention, my time has been and will be limited for the remainder of the school year. Fortunately, a host of people have stepped forward in true Timanous fashion to keep camp operations rolling. I’d especially like to express my thanks and gratitude to Linda and Dave Suitor, who have managed the majority of Timanous operations in my absence. Linda has been indispensable in multiple areas of camp administration, including admission, regular camp communication, marketing, and more. Because of her service, we can report robust enrollment, seamless communication with returning and prospective families, and a detailed knowledge of Camp T that has proven invaluable to me. Dave’s service on the Barn project, graphic design skills, deep familiarity with Timanous history, and years of experience with the campus facility have helped me immensely in my onboarding process. We even resurrected one of Dave’s slide shows for our DC gatherings, and it still very much told the story of the Timanous of today! I am also grateful for Craig MacDonnell (Chair), Mike Prior (Vice Chair), and the entire Timanous Board of Trustees. They embody the definition of servant leadership, and I can attest firsthand to the care with which they have guided our precious camp since we became a non-profit foundation six years ago. Thank you again, and I hope to see you in Maine this summer! Sincerely, John H. Suitor III, DirectorDirector’s LetterPAGE 2•16189_Camp T Annual Report 2024 16pg.qxp_Layout 1 2/4/25 8:48 AM Page 2

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Chair’s LetterDear Timanous Family, Our 107th year exemplified the essential nature of Camp Timanous. As a place, as an organization, and as a community, we evolved in significant ways yet remained fundamentally the same. Just as the previous summer was one of the wettest on record, the summer of 2024 was one of the hottest in our history. Yet we were unsurprisingly successful despite these challenges. As always, we relied on the returning members of our camping community (87% of campers and 92% of staff) to help us maintain our traditions but also evolve. For example, the heat of last summer did not diminish either the strength of our programming or the spirit of our community. Timanous was a busy place in 2024 despite the high temperatures. Our campcraft program organized 17 camping trips. Campers successfully completed 355 awards (174 in riflery, 66 in archery, 38 in sailing, 54 in swimming, and seven in campcraft, plus nine Land Honors and nine Water Honors). There were 28 inter-camp competitions, five social events with Wohelo, and five on-site educational presentations from outside organizations. Six campers earned Activity Medals. Nine counselors earned Service Medals totaling 105 years at camp. And everyone enjoyed the Horse Races, the Bonfire (largest ever), Point Cookout, Casco Day Road Race, “Timanolympics,” five Capture-the-Flag games, the Fastest Man Competition, and two Grandaddy Gorilla events! Our campus infrastructure evolved significantly over the course of the year. As contemplated by our strategic plan, Tradition and Stewardship, 2022–2026, we began the necessary design work, financial planning and construction required to support several capital projects. This initially included placing much of our electrical infrastructure underground, building two new staff cabins, and removing some aging and very large old pine trees in advance of the Barn/Kitchen Renovation project. Since our campers have departed, this work has continued with the framing of a brand-new kitchen, expanded dining area and covered porch. This major project will be completed in advance of the 2025 camping season. Our investments in these physical improvements have been funded largely from existing reserves together with a $750,000 fundraising effort, the Campaign for the Barn. Thanks to the amazing generosity of our parents, alumni and trustees, this campaign has wrapped up and we’ve set aside the resources for work to be done over the winter and spring. Our leadership also evolved in 2024. Last August, after our summer season concluded, the Board of Trustees accepted the resignation of Director Garth Altenburg after six summers of gracious service and named his successor, John H. Suitor III, grandson of Johnny and Marti Suitor and nephew of Dave and Linda Suitor, who comes to us after 12 years as Head of School at Boulder Country Day School in Colorado. John spent 16 summers at Timanous as a camper and a counselor. We are thrilled to welcome John back to Timanous! Finally, the overall financial strength of our organization has evolved – and in the right direction. Our first annual report in 2019 showed a strong but modest balance sheet of $4.5 million. Since then, we’ve steadily grown our organization, as summarized in the enclosed letter from our Treasurer and accompanying Statement of Financial Position, which shows total assets of $11.5 million. As our new Director’s grandfather observed many decades ago in the Timanous Prayer: “For all these things, we give thanks,” Craig MacDonnell, Board Chair PAGE 3•16189_Camp T Annual Report 2024 16pg.qxp_Layout 1 2/4/25 8:48 AM Page 3

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SANDY TATTERSALL FUND With our growing campership program, a broader community of boys will be able to gain from the Timanous experience. The income from the Sandy Tattersall Fund campership endowment will play a key role in expanding access to Timanous by providing campership aid in perpetuity. We are forever grateful for the endowment’s founding gift and continued support from the Samuel C. Tattersall Fund of the Maine Community Foundation. It is incredibly meaningful to know that we are not only carrying out a mission that meant so much to Sandy, but also that his impact lives on in yet another profound way at Timanous. ANNUAL CAMPERSHIP FUND Timanous is on a path toward creating a strong culture of philanthropy through recurring support toward camperships. Each year we will have a critical need to fully fund financial aid commitments to returning campers as well as new families introduced to Timanous through this program. These funds allowed 28 boys to come to camp in 2024 and will help support even more through pledge commitments for upcoming summers. TIMANOUS FUND This unrestricted fund for camp’s financial security was instrumental in helping Timanous successfully weather our 2020 closure. We sought to rebuild and further add to this fund in order to guard against unforeseen challenges and finance pressing capital projects. Continuing to grow our financial resilience will play a key role in ensuring camp continues to thrive for its next 100 years. JAKE CONGLETON FUND The goal of this fund is to promote and ensure continuity among the Timanous staff. The initial priority is to offer monetary awards to those counselors that are hard pressed financially to return to camp during their college years due to college expenses and lack of adequate other resources to do so. And, as the Foundation moves to provide increasingly more significant amounts of aid to campers, the want to do so for counselors is also considered to be a very important goal. It is with the launch of the Jake Congleton Fund that we seek to address this goal. PAGE 5•16189_Camp T Annual Report 2024 16pg.qxp_Layout 1 2/4/25 8:48 AM Page 5

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Report of DonorsThis year’s Annual Report reflects all donors who gave to the Timanous Foundation from September 1, 2023 through December 31, 2024. We are grateful for your support and abiding Timanous spirit. Acorn Hill Foundation - Jake Culbertson Acorn Hill Foundation - Kate Culbertson, in memory of John Culberston, Jr. Acorn Hill Foundation - Kirby Culbertson, in memory of John Culbertson, Jr. Juan Aguerrevere The Alvarez Hibbs Family Diego Alvarez-Hibbs The Alwang Family Stephen Anderson Kate Angelo and Francois Mobasser The Angelo Family Charitable Foundation Anonymous (x14)* Anonymous, in honor of Russ A. Miller Anonymous, in memory of Sandy Tattersall Anonymous, in honor of Will Schoder Anonymous, in memory of Jack Culbertson, Jr. Jon Arnold Jon Arnold, in memory of Bill Van Order George Barson Liz and Grant Bartlett The Baum Family Susan and Redfield Baum, in honor of Trey Baum Kirsten Lundberg and Alex Beam The Bernard Bergreen Foundation, through Alonso Bergreen Family Tom Bergreen Bill’s Eaglebrook Friends, in honor of Bill Van Order Geoffrey Blum John S. Booth Peter Bopp Walter “Skip” Bopp Charles Bowditch, in honor of Mr. Van Order The Brady Family Robbo, in memory of Dave and Betts Bradley Austin and Sarah Bramwell Susan and Bill Breidenstine Laurie and Bill Brennan Bright Wings Foundation Jan Brown, in honor of Mason and Henry Baldic, and Colby Brown Jan Brown, Mason and Henry Baldic, and Colby Brown Michael and Jacqueline Bryan Cullen and Donielle Buie Grant Burgess and Casey Near Earle Cadwell John and Katy Calder Thomas and Alice Caltrider Donald Cameron Elisa Kessler and John Caporale Alan Carroll Bruce Carroll and Merri Lea Shaw Henry Carroll Liz Carroll Will Carroll Joseph Chan David Chidsey David Chidsey, in memory of Bill Van Order Janetta and Scott Chrysler Livy Coe, in memory of Sandy Jake and Sally Congleton Will and Maggie Cook Jack and Cathy Cutler Jack, Cathy and Jeremy Cutler Tucker Cutler The Danforth Family Todd and Jane Danforth, in memory of Robert Hollis Teddy Danielson Matthew Dapas Cornelius Darcy Melissa Ho and Scott Day The De Mul Family Octavio and Liz Delasobera, in memory of Chris Oosterhuis Kelly and Rob Dietel The Mark N. Diker Family Charitable Fund Digger and Susan Donahue PAGE 6*Many thanks to our fourteen anonymous donors. •16189_Camp T Annual Report 2024 16pg.qxp_Layout 1 2/4/25 8:48 AM Page 6

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Report of Donors, cont.Peter Donovan Traci and Vinny Dotoli Archie Douglas Bruce and Madeline Droz Steve Engel Hannah England and David McIntosh Diehl J. Estes Daniel and Ann Fisher Ann Freeman Ruth Freeman Ruth I. Freeman Conrad Friedman Nina and Mike Furlanetto Tony Gaeta, in honor of Jake Congleton David Geis Martha Tattersall Giancola and Paul Giancola Teresa Gomez Emily and Jeff Goodwin Shelbi and Mike Goodwin Benson Gray Laurence Greenberg and Martha Land Charlie Griffith Jim Grover Bob Gulick Will Hagaman The Hamilton Family Andrew Hamm and Ali Walker Andrew Hamm and Ali Walker, in honor of Alex Hamm The Hansen Family Chippy Hatch, in honor of Johnny and Marti Suitor Kevin and Ellen Hayes C. Michael Hazard Gary Helme Merrit Heminway Michael and Ann Henahan John and Kate Hoffman, in honor of Mallards ‘65 and Crows ‘71 Katherine Holden, MD James and Meredith Hollis and the Hollis Family Fred Hollister and Carol Gray Fred Hollister and Carol Gray, in honor of Rob Hollis, Crows ‘69, and Jim Wolcott, Crows ‘76 Douglas R. Honnold John and Linda Howard Dick and Susan Howlett Dan Hubbard Dave Hubbard Cameron Hyzer and Jennifer Feeley Hyzer Rollie Ives, in memory of Bill Van Order Rollie Ives, in memory of Carter MacDonald Cliff and Margot Johnson Ryan and Amy Kavanaugh Keeling Family Charity Account Terry Keith Peter M. Kellogg Chris and Vonda Kelsey Elaine Kelsey Thomas and Kallen Klein The Klein Family Tom Klingenstein Andrew and Jennifer Koestler Anna Lisa Kronman and the Kronman Community Blessing Fund, in memory of Craig Kronman Peter and Molly Kuhn, in honor of Livy Coe and Ash Wall The Kyriakakis Family David L Diane Reidy-Lagunes and Sergio Lagunes Tom Land, in honor of Crows 1973 North and Mackenzie Landesman The Landesman Family PAGE 7•16189_Camp T Annual Report 2024 16pg.qxp_Layout 1 2/4/25 8:48 AM Page 7

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Report of Donors, cont.Marnie Ellis Langford Ted and Vicky Leavitt Bill Leece and Kate Higgins Bill and Alice Lehmann Jason and Laura LeVasseur, in memory of Dewey Dellay Brendan Levine Jake Leyden Jake Leyden, in memory of Duck Nick Leyden The Lindau Family Abby and Chris Livers Dan Locklar Nicholas Loizeaux Mark and Lisa Lonnegren Craig and Lisa MacDonnell Patrick Madden Marie and Steve Maloney Steve and Sue Mandel Betsy, Ned, Mollie and Ned Mandel, in honor of Steve Mandel Candace and John Marsellus Brian “BMar” Martin Nick “Barn” Martin, in honor of Sandy Tattersall Sandy Martin Ben and Nan Mason Luis Massiani and Maria Dominguez Will and Mary Mayer The McCooey Boys Katie and Steve McDermid April and Dave McElhinny Bob McLean Fred Meine Vince and Jeanette Michael Javin Michael Jaear Michael Diego Mier y Teran William and Carolyn Miller The Milliken Family Jill and Michael Millis Liz and Tim Morningstar Peter and Bridget Morningstar Family Fund Jessica Nagle Jeff Nicholson Mark and Tasha Nicholson Norman and Eleanor Nicholson Tyler Nimick Mark E. Noonan Rikako and Taito Okiura Paul and Bronson Oosterhuis Bill and Jen Pennoyer Grant Pennoyer Penobscot Financial Advisors, in honor of Sam Chaplin Jack and Jane Phillips Will Pierce Nancy Poor Tom Poor George Potts David and Mary Powers Tanner Powers Michael and Lauren Prior Sandra Pierson Prior Dr. Sandra Pierson Prior and the Stephen John Prior Memorial Fund Reed Rathgeber Diana, Roland and Samuel Reynolds Kelly and Jason Richardson Laura and Tom Robinson The Rooneys Lew Rumford Susan and Chris Runge The Runge Family Al Ryter Samuel C. Tattersall Fund of the Maine Community Foundation Sand Dollar Foundation Harry D. Saunders PAGE 8•16189_Camp T Annual Report 2024 16pg.qxp_Layout 1 2/4/25 8:48 AM Page 8

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Report of Donors, cont.Michele Levin and Robert Schlesinger Will Schoder, in honor of Jimmy Poulin Jill and Denny Scott Thomas Scott and Ilana Eisenstein Barbara Secor, in honor of Joseph Secor Dan Seligson David B. “Deeb” Sharpe, in honor of David J. “Sharpo” Sharpe Ben Shestakofsky Susan and Sandy Sierck Andy Sims Will Smith Ned Sperry Will St. Peter Ethan Stanley Tamar and Andrew Stanley Robert Stevens John and Leslie Stonestreet Gibbet Hill Foundation and Steve Strachan Steve Strachan Rick Strachan Rick Strachan, in honor of Jake Congleton The Street Family The Strong Family Dave and Linda Suitor John and Gail Suitor Christine Surette and David Ornstein Klaus Sydow Jennifer and David Talmadge Nora Taylor and Jonathan Oakey Joe Tessler and Sophia Shah Donald and Donna Tomb Town Fair Tire Foundation Kara and Tad Van Norden Louise Van Winkle Mark and Quincy Van Winkle John “Curious” Victor Alexander and Martha von Uckermann Max von Wening, in memory of Carter MacDonald and Jackie Culberston Anne Kubale Walker Polly Wall Caroline and Scott Wallach Robert and Jill Warner ADubbs Coreen A. Waters David Waters-Honcu Joel and Maria Waugh N.C. Waugh David Wheeler Sandy and Maynard Wheeler Kate Wheeler and Andrew Snell The Harry W. Whelpley and Marion A. Whelpley Fund Stephanie and Ryan Whelpley Dave Whitcraft Bill and Barbara Williams Tim Williams Tom and Nancy Williams Bruce and Laurie Wimberly Robert Windsor Jim Winninghoff and Anne Derome Jeremy and Amy Wintersteen The Woods, in honor of Bill Leece and Kate Higgins The Yum Family Pam Geary The Zeilman Family Peter and Jo Ziesing Will Ziesing The Ziesing Family Margaret and Andy Zuccotti Employer Matching Gifts AbbVie AXA XL General Atlantic Google LibertyGives Foundation The Pokemon CompanyPAGE 9•16189_Camp T Annual Report 2024 16pg.qxp_Layout 1 2/4/25 8:48 AM Page 9

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PAGE 11We are happy to report that our campership program has been growing steadily over the past few summers. This is due to our focus on making this happen and the financial support afforded this program through the generosity of donations to the Annual Campership Fund and the Sandy Tattersall Fund.The graphs below show this steady growth. Graph 1 shows the growth in financial aid provided to deserving boys. Graph 2 shows the trend in the total number of camper “sessions” supported by the program. (A boy attending for an entire summer is counted as two sessions.) Graph 3 shows the trend lines for both half and full session camperships and confirms our success in growing the number of boys in the latter group. Graph 4 shows the total number of boys served per summer, which of course is affected by the mix of half and full session boys.Campership Program is Growinggraph 1Total financial aid provided ($)$250,000$200,000$150,000$100,000$50,000$02021202220232024•16189_Camp T Annual Report 2024 16pg.qxp_Layout 1 2/4/25 8:48 AM Page 11

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PAGE 12Good news from campus! The careful renovation of our historic Barn and Kitchen is well underway, on-time, and on-budget. This is owing to our dedicated team of staff and trustees who are working every day with our architect and general contractor. In essence, the Barn is being structurally enhanced, and the dining area is expanding towards the Infirmary. So far, this work has involved inserting new beams, framing out the expanded “restaurant” section, installing a new subfloor for that expanded area, and adding infrastructure for the new and adjacent covered porch area. The old Kitchen has been completely removed and a new and expanded one is taking shape. As of this writing, it has been completely framed and enclosed with interior portions for cooking and serving, freezer and refrigeration, and dry storage. All required piping and electrical ducts have been installed in the concrete floor or underground. New propane and wastewater tanks have also been installed underground. Our team is on-site daily so that this project will be ready for next summer. Make sure to watch your inbox and social media for more updates between now and then.Barn and Kitchen Update•16189_Camp T Annual Report 2024 16pg.qxp_Layout 1 2/4/25 8:48 AM Page 12

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PAGE 14Greetings from Timanous. Although faced with some challenges this year, Timanous still remains in a very strong financial position as of the close of our fiscal year ending August 31, 2024. We ended our fiscal year with total assets of $11.5 million, an increase of $1.9 million from last year. This was the result of very generous donations to our restricted funds including the Annual Campership Fund and the Barn Renovation Project, and an unrestricted giving category titled "Where Most Needed". Donations to this category totaled $184,000, an impressive increase of $81,000 from last year. By a vote of the Board, an anonymous gift of $77,000 was distributed equally between the Annual Fund for Camperships and the Sandy Tattersall Fund, $28,000 was used for storm damage remediation, and $79,000 was distributed into the unrestricted Timanous Fund. Strong returns in the financial markets provided additional income. On the liability side, we continue to carry an SBA Economic Injury Disaster Loan, a 30-year loan with a very attractive rate of 2.75%. Our balance is currently just under $500,000. Income and expenses are monitored through a careful budgeting process approved by the Board of Trustees and reviewed throughout the year by our Finance Committee. Due to a variety of factors, namely a director transition, increased legal fees due to a Panther Pond dam issue, increased depreciation expenses, and increased expenses due to storm damage remediation, we incurred an operating loss of $92,191 for our fiscal year. The increase in depreciation resulted from a significant investment in our property including tennis courts and electrical infrastructure. Finally, in keeping with our Strategic Plan to increase diversity at Timanous, we allocated $220,440 in support of camperships. These funds were raised through the generosity of members of the Timanous family, our devoted trustees and a 3% draw from the endowed Sandy Tattersall Fund. Other Income included an increase in donations of $419,000, mostly related to donor support for the Barn Renovation, an increase of $318,000 in net investment income, and Timanous received a Maine Business Recovery and Resilience Grant of $100,000. The Board of Trustees once again gave its approval to have an audit of our financial statements performed by the accounting firm Baker, Newman, Noyes of Portland, Maine. I am pleased to report that each year since our inception as a nonprofit, we have received an unqualified opinion. Our 2023 and 2024 financial statements are included in this report. We continue to maintain our four investment accounts at MAI Capital Management. The Sandy Tattersall Fund is a restricted endowment for camperships. We currently draw 3% each year from this fund in support of financial aid. The Timanous Fund is an unrestricted fund for capital improvements and contingencies. The Jake Congleton Fund is a recently established fund to provide financial assistance to counselors in need. This is also an endowed fund drawing approximately 3% per year in support of the program. The fourth fund is our Annual Campership Fund. As a result of our Barn Renovation Project, a decision was made over a year ago to raise cash in the Timanous Fund by selling a very large portion of our stock and bond holdings in support of the project. As a consequence, we held a much larger percentage of cash than we normally would, and since cash underperformed stocks by a very wide margin during our fiscal year, this had a negative impact on our total return. Despite this, for the fiscal year ending August 31, 2024, the combined twelve month return for the funds was 11.80%. As Craig stated in his letter, we certainly have evolved from a very modest nonprofit to a financially strong organization that we can all be proud of. This doesn't happen by luck. It’s through the hard work, dedication and generosity of everyone within the Timanous family. Thanks to each of you for continuing to make Timanous an exceptional place. Bill Leece, TreasurerTreasurer’s Letter•16189_Camp T Annual Report 2024 16pg.qxp_Layout 1 2/4/25 8:48 AM Page 14

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TIMANOUS FOUNDATION STATEMENTS OF ACTIVITIES Audited Financial Statements Years Ended August 31, 2024 and 2023 2024 2023 Program Income Tuition $ 1,430,290 $ 1,357,105 Other 29,394 37,612 Total Program Income 1,459,684 1,394,717 Expenses Program 1,101,497 1,028,748 Management and administration 407,664 321,096 Fundraising 42,714 53,757 Total Expenses 1,551,875 1,403,601 Operating Income (Loss) (92,191) (8,884) Other Income (Loss) Donations 992,289 573,044 Grant Income 100,000 0 Net investment income (loss) 718,695 403,866 Other income, net 65,531 79,718 Total Other Income 1,876,515 1,056,628 Change in Net Assets $1,784,324 $1,047,744TIMANOUS FOUNDATION STATEMENTS OF FINANCIAL POSITION Audited Financial Statements Years Ended August 31, 2024 and 2023 2024 2023 Assets Cash and Investments $ 6,964,629 $ 6,184,495 Accounts Receivable and Prepaid Expenses 135,502 17,665 Pledges and Bequest Receivable 379,339 302,765 Fixed Assets, net of accumulated depreciation 4,009,892 3,061,158 Total Assets $ 11,489,362 $9,566,083 Liabilities and Net Assets Liabilities Accounts Payable and Accrued Expenses $ 240,555 $ 85,533 Long-term debt 483,933 500,000 Total Liabilities 724,488 585,533 Net Assets Without donor restrictions 4,942,171 5,992,849 Without donor restrictions - Board designated 2,116,143 172,545 With donor restrictions 3,706,560 2,815,156 Total Net Assets 10,764,874 8,980,550 Total Liabilities and Net Assets $ 11,489,362 $9,566,083Timanous Foundation, dba Camp Timanous, is a recognized 501(c)(3) nonprofit organization.PAGE 15•16189_Camp T Annual Report 2024 16pg.qxp_Layout 1 2/4/25 8:48 AM Page 15

2024 Annual Report

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