Annual Report FY 2023 : simplebooklet.com

Storytelling is a time honored tradition at Timanous, and we tell our stories in a variety of ways. Our counselors are known for enchanting campers with bedtime stories that both stimulate the imagination while also magically settling the campers in for the night. Announcements in the Barn playfully alert campers to the upcoming activities while also building on the legends of Timanous past. Our end-of-summer slideshow tells the story of the current summer through pictures. And when camp ends for the year, we keep telling our stories. Our annual yearbook and Timanews publications tell of the accomplishments of the past summer at camp, while the Timanews helps to keep our community connected with our personal stories from the past year. Our 2023 Annual Report also tells an important Timanous story. While our counselors probably won’t use this report for bedtime stories with the campers, I hope you find the narrative within these pages compelling and inspiring. Thanks to the generosity and growing support of our extended community, we can celebrate a very prosperous moment in our history. The financial health demonstrated here will allow us to write another exciting chapter in 2024, 2025 and beyond as we embark on significant capital upgrades, most notably the Barn and kitchen project. As you read through the Annual Report, I hope you are inspired to think about your own Timanous story. Much as it took the entire camp community to make the summer a success for each individual camper, our collective support of our mission and financial health allows us to keep telling another great Timanous story for generations to come. Thank you for your generous and loyal support. Sincerely, Director Director’s LetterPAGE 2

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Chair’s LetterDear Timanous Family, Our 106th year of operation was one of the wettest on record yet was unsurprisingly successful despite the rain. This actually comes as no shock to most of us who know that the strength, spirit and resilience of our community is virtually impervious to the weather. As usual, we were blessed by returning campers making up almost 80% of our community and a staff that was 100% drawn from previous summers at Timanous. These percentages may seem somewhat common in our world, but they are virtually off-the-chart in comparison to other camps. My takeaway: we are doing something seriously right! Our full stable of campers and counselors also made for a very positive financial season, which was further supported by steady fundraising from every sector of our community. In other words, our Statement of Financial Position is strong, as confirmed by our Treasurer in his enclosed letter. Our programs, both inside and out of camp, were equally robust in 2023. We sent out 19 camping trips and participated in 20 inter-camp competitions. We enjoyed three homegrown talent shows and two socials with Wohelo as well as the first Founders Day since the pandemic. Seventy-five campers achieved swimming awards; 88 campers received rifle awards; 28 campers earned sailing awards, and 44 campers completed archery awards. In our camper-run honorary organizations, eight Voyagers and 14 Woodsmen were recognized. There is also much to be grateful for beyond the summer season. Before Camp opened, we inaugurated the Jake Congleton Fund, named after our retired long time assistant director, with an emotional ceremony in the Barn. This fund is made possible by the generosity of a small group of alumni and is dedicated to supporting our veteran staff by helping them financially to remain part of our camp community. Meanwhile, as Garth has noted, we’re engaged in various campus rebuilding and maintenance projects, including, notably, a much-needed modernization of the kitchen and an expansion of the dining and gathering areas of the Barn, both of which will appropriately respect the rustic vernacular of our campus. As these projects mature, Garth and the Board of Trustees will reach out for financial support from parents and alumni. In summary, 2023 was another great summer at our favorite place in the world. For all these things, we give thanks. Craig Craig MacDonnell, Board Chair Board of Trustees Kelly Dietel Vinny Dotoli Fred Hollister Bill Leece, Treasurer Craig MacDonnell, Chair Will Mayer, Secretary Dave McElhinny, Trustee Emeritus Jeanette Michael Tim Morningstar Michael Prior Dave Suitor Linda Suitor Kara Van Norden Alan Washington Bruce Wimberly Garth Altenburg, Ex-Officio PAGE 3

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PAGE 4SANDY 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. The funds raised in the final phase of the campaign allowed 26 boys to come to camp in 2023 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 continuity of the Timanous counseling staff is unparalleled and one of our greatest strengths. The goal of this fund is to promote and ensure that continuity by offering monetary awards to those counselors who are hard pressed financially to return to camp during their college years. Counselors who face financial commitments that prevent their ability to return to camp will apply for a stipend to help with the financial obligation. Just as the Foundation is committed to providing more significant aid to campers, we are committed to supporting the continuity of the staff to ensure the best camper experience. The Jake Congleton Fund helps us address that goal.

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PAGE 5Report of DonorsThis Annual Report reflects all donors who gave to the Timanous Foundation from September 1, 2022 through August 31, 2023 (FY 2023). We are grateful for your support and abiding Timanous spirit. Garth and Heather Altenburg The Alvarez Hibbs Family Judy Hart Angelo Isaac Arms Jon Arnold, in memory of Chip Arnold Kathleen Fulton and Jim Banta Chris Barber Alan Barson Deborah and Scott Bartlett Shirley and Toby Baum Thomas Bergreen Quentin and Donna Besch Geoffrey Blum Peter Bopp Walter "Skip" Bopp Dick Boyden Dick Boyden, in memory of Skipper and Lee Boyden Austin and Sarah Bramwell Brendan and Carrie Branon Bill and Susan Breidenstine Laurie and Bill Brennan Will Buckley Cullen and Donielle Buie Grant Burgess and Casey Near Elisa Kessler and John Caporale Jeff Carpenter Alan Carroll Henry Carroll Liz Carroll Bruce Carroll Will Carroll Clark Chandler Sharon Chaplin David Chidsey Lee Chisholm Livy Coe Jake and Sally Congleton Will Cook Jake Cooley Jake Culbertson Kate Culbertson Kirby Culbertson Jack and Cathy Cutler Tucker Cutler Matthew Dapas Julie and Duane Darienzo The Delasobera Family Kelly and Rob Dietel Tripp Dolman Digger and Susan Donahue Traci and Vinny Dotoli Archie Douglas Bruce and Madeline Droz Don and Sally Edwards

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PAGE 6Report of Donors, cont.Steve Engel Hannah England Diehl J. Estes Daniel and Ann Fisher Charles Ganner Martha Tattersall Giancola and Paul Giancola Jeffrey and Emily Goodwin Mike Goodwin P. J. Goss Martha Land and Laurence Greenberg Justin Grohs The Hamilton Family Andrew & Allison Hamm, in honor of Alex Hamm The Hansen Family Arthur and Marylynn Harlow Chris and Jacqueline Hasty Kevin and Ellen Hayes C. Michael Hazard Gary Helme Merrit Heminway Dave Henahan Michael Henahan John and Kate Hoffman Katharine Holden James Hollis, in memory of Rob Hollis Fred Hollister and Carol Gray Fred Hollister and Carol Gray, in memory of Jim Walcott and Rob Hollis Douglas R. Honnold John and Linda Howard Dick and Susan Howlett, in memory of Rob Hollis Dan Hubbard Dave Hubbard Seeley Hubbard Charlotte and Nick Ivancic Rollin Ives George and Laurie Jackson M. Roy Jackson, Jr. Sam Jaffe Greg Jakubowsky Ed Johnson Cole Jones Terry Keith Robert Keller Chris and Vonda Kelsey Tom Klingenstein Thomas Land Margaret Langford David Larkin

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PAGE 7Report of Donors, cont.Ted and Vicky Leavitt Bill Leece and Kate Higgins Bill and Alice Lehmann Anonymous, in memory of Heidi Hawkins LeVasseur Brendan Levine Jake Leyden Nick Leyden Mark and Lisa Lonnegren Thomas and Amy Luke Holland and K.C. Lynch Craig and Lisa MacDonnell Betsy, Ned, Mollie, and Ned Mandel John and Candace Marsellus Brian "BMar" Martin Sandy Martin Nan and Ben Mason Luis Massiani and Maria Dominguez Will and Mary Mayer The McCooey Boys April and Dave McElhinny Dr. Fred Meine Dustin Michel William and Carolyn Miller Jill and Michael Millis Charlie and Toby Congleton Milner Liz and Tim Morningstar Ben Motley Jessica Nagle Jeff Nicholson Mark and Tasha Nicholson Norman and Eleanor Nicholson Tyler Nimick Mark E. Noonan Gary and Sally Noteware Taito and Rika Okiura Kitty Paiste The Kyriakakis Family Bill and Jen Pennoyer Bill and Jen Pennoyer, in honor of Chid's Happy Big 60th Jaime Perez Montes Francis Pickering Nan Poor Tom Poor Dave and Mary Powers Tanner Powers Katharine (Culbertson) Prentice Lauren and MIchael Prior Ross Rankin Susie and Jim Reeks Tucker and Jill Reeks Diana, Roland and Samuel Reynolds Lew Rumford Harry Saunders The Sawyers Family Will Schoder Jill and Denny Scott Tom Scott

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PAGE 8Report of Donors, cont.Barbara W. Secor Colin Sharpe Deeb Sharpe Merri Lea Shaw Alex Sierck and Elizabeth Adams Susan and Sandy Sierck Jessica Simmons Andy Sims Tamar and Andrew Stanley Gibbet Hill Foundation - Steve Strachan Rick Strachan Dave and Linda Suitor Christine Surette and David Ornstein Peter Szuch and Molly Howes Jen Murray and Dave Talmadge Samuel C. Tattersall Fund of the Maine Community Foundation Nora Taylor and Jonathan Oakey Bill Tilghman Sally Tindall Donald and Donna Tomb Tom and Deanne Urmy Charles Urstadt Kara and Tad Van Norden Bill "BVO" and Lill Van Order Davis and Louise Van Winkle Alexander and Martha von Uckermann Max von Wening Polly Wall Alan Washington Cory A. Waters David Waters-Honcu David Wheeler Maynard Wheeler Mr. Harry William Whelpley | Marion Whelpley Fund Stephanie and Ryan Whelpley Scott and Kiely Wilkerson Bill and Barbara Williams Tim Williams Tom and Nancy Williams Bruce and Laurie Wimberly Jim Winninghoff and Anne Derome Amy and Jeremy Wintersteen The Woods Peter and Jo Ziesing

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Once again, I’m happy to report that Timanous remains in a very strong financial position as of the close of our fiscal year ending August 31, 2023. Total assets were just over $9.5 million, an increase of over $1.0 million from last year. This was primarily due to donations made to the Annual Campership Fund, the Timanous and Sandy Tattersall Funds, the new Jake Congleton Fund, and an unrestricted giving category titled “Where Most Needed.” Donations to this category totaled $103,000, a healthy increase of $50,000 from last year. Half of this was divided equally between the Annual Campership Fund and the Sandy Tattersall Fund. The other half was used for much-needed cabin repairs, renovations to the Crows Nest, office technology and new equipment. A rebound in the financial markets provided additional income. On the liability side, we continue to carry a $500,000 SBA Economic Injury Disaster Loan, a 30-year loan with a very attractive rate of 2.75%. Our income and expenses are monitored through a careful budgeting process approved by the Trustees and a watchful review throughout the year by our Finance Committee. Due to an unanticipated need to rebuild a staff cabin, we incurred an added program expense of $20,000. Although this was covered by insurance, conventional accounting rules require us to report this as an operating expense. This contributed to the total operating loss of $8,884 at the end of our fiscal year. Without this, we would have posted a modest surplus. Related, and included in Other Income, is $69,000 in net insurance proceeds for the cabin loss. Once again, the Board of Trustees 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 2022 and 2023 financial statements are included in this report. We currently maintain four investment accounts managed by MAI Capital Management. The Sandy Tattersall Fund is a restricted endowment for camperships and the Timanous Fund is an unrestricted fund for capital improvements and contingencies. The new Jake Congleton Fund was recently established to provide financial assistance to counselors in need. This is an endowed fund drawing approximately 3% per year to support the program. The fourth fund is the Annual Campership Fund. The funds had an allocation of 55% stocks and 45% bonds and bond equivalents during most of the fiscal year. The funds are well diversified and include mostly low-cost index funds. Stocks and bonds rebounded in 2023 following a very turbulent year in 2022. For the fiscal year ending August 31, 2023, the combined net 12-month return was 7.5%. Finally, the last few years have presented financial challenges due to a closure for Covid, investment volatility and inflation concerns not seen in years. The Finance Committee at Timanous will remain vigilant in its financial stewardship. This is a collaborative effort, however, and fortunately we have always had the support of the entire Timanous community. For that, we are sincerely thankful. Happy New Year! Bill Leece, TreasurerTreasurer’s LetterPAGE 10

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TIMANOUS FOUNDATION STATEMENTS OF ACTIVITIES Audited Financial Statements Years Ended August 31, 2023 and 2022 2023 2022 Program Income Tuition $ 1,357,105 $1,295,959 Other 37,612 34,557 Total Program Income 1,394,717 1,330,516 Expenses Program 1,028,748 949,147 Management and administration 321,096 311,220 Fundraising 53,757 52,649 Total Expenses 1,403,601 1,313,016 Operating Income (Loss) (8,884) 17,500 Other Income (Loss) Donations 573,044 423,799 Forgiveness - PPP* loan 0 279,257 Net investment income (loss) 403,866 (477,094) Other income, net 79,718 6,004 Total Other Income 1,056,628 231,966 Change in Net Assets $1,047,744 $ 249,466TIMANOUS FOUNDATION STATEMENTS OF FINANCIAL POSITION Audited Financial Statements Years Ended August 31, 2023 and 2022 2023 2022 Assets Cash and Investments $ 6,184,495 $5,074,826 Accounts Receivable and Prepaid Expenses 17,665 24,385 Pledges and Bequest Receivable 302,765 537,690 Fixed Assets, net of accumulated depreciation 3,061,158 2,893,023 Total Assets $9,566,083 $8,529,924 Liabilities and Net Assets Liabilities Accounts Payable and Accrued Expenses $ 85,533 $ 92,118 Deferred Revenue 0 5,000 Long-term debt 500,000 500,000 Total Liabilities 585,533 597,118 Net Assets Without donor restrictions 5,992,849 5,306,926 Without donor restrictions - Board designated 172,545 114,375 With donor restrictions 2,815,156 2,511,505 Total Net Assets 8,980,550 7,932,806 Total Liabilities and Net Assets $9,566,083 $8,529,924The Timanous Foundation, dba Camp Timanous, is a recognized 501(c)(3) nonprofit organization.PAGE 11*Paycheck Protection Program

Annual Report FY 2023

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