Annual Report FY2022 : simplebooklet.com

While calling a fiscal year-end report an Annual Report is common practice for most non-profit organizations, I am tempted to call our 2022 report a Celebration Report. We have so much to celebrate and be thankful for, thanks to the tremendous generosity, support and loyalty of the Timanous family, as well as the continued success of our beloved camp. Summer 2022 was a joyous summer and cause for great celebration as our daily camp lives moved much closer to normal, free from the most stringent of COVID-19 interventions from 2021. The barn was once again full with our entire camp eating meals together. We welcomed friends and families to camp once more, to attend Council Fire and Chapel, and to visit their campers and walk the bunkline. The Timanous spirit was strong! Further affirming our return to close-to-normal operations was our 105th (The Hundy + Five) Anniversary Celebration and Alumni Reunion immediately after camp closed, from August 13 - 15. Over 130 alumni returned to camp for a festive weekend in celebration of lasting friendships and a deep connection to our beautiful camp on Panther Pond. For many in attendance, the highlight of the weekend was the recognition of 75 years of Suitor Family leadership of Timanous through the dedication and renaming of our “ballfield” as Suitor Field. Almost everyone who donated to Timanous in the past year and who is reading this report knows how much the leadership of the Suitor family means to Timanous. We celebrate Dave and Linda for their visionary leadership in transforming Timanous to the successful non-profit organization of today, as highlighted by this report. While the numbers displayed here tell one part of our story, we know they are a reflection of the ways Timanous stays relevant in our lives- through the experiences of our campers today, the enthusiasm for our vibrant future, and our glorious past. I offer a heartfelt thank you to all who made 2022–from camp to the reunion to the honoring of Suitor family leadership–a year worth celebrating! Thank you for your enduring support, Garth Altenburg DirectorDirector’s LetterPAGE 2

Page 3

Chair’s LetterDear Timanous Family, The 105th year of Camp Timanous was an amazing and satisfying season by virtually any measurement. First, we continued our historic standard of a completely full roster of campers and a full stable of veteran counselors. This does not surprise anyone, but it is a welcome attribute of our organization. Eighty-five percent of our boys returned from the previous year. Our 65 staff members averaged eight years at camp and altogether represented 499 summers on Panther Pond. These extraordinary numbers are a reflection of the excellence of our people and our program. Second, the robust nature of our enrollment combined with regular annual giving from every sector of our community meant that we concluded our fiscal year with a very strong balance sheet, as further described in the enclosed Treasurer‘s letter. Third, although COVID made an appearance, due to the incredible spirit of campers and staff alike, it did not meaningfully alter the reach or success of our programs. We sent out 17 camping trips and staged 16 special events on campus. Campers achieved 102 archery awards, 175 riflery awards, 22 sailing awards and 77 swimming awards. Eighteen boys were designated Polar Bears for dipping every morning of the summer. And in our camper-run honorary organizations, seven Voyagers and 22 Woodsmen were recognized. Fourth, the enthusiasm of the whole community was extraordinary, perhaps owing to the combined sense of both relief and relaxation that has followed in the wake of having our lives altered so much by the pandemic. Being together at Timanous was especially welcome because it felt like a measure of rightful normalcy had been restored. Finally, our after-camp reunion celebrating 105 years of Timanous camping was the capstone to an excellent summer. Here’s to the HUNDY + 5! It seems as if we’ve fully regained our rhythm in a very Timanous-like way, through resilience, collaboration and mutual respect. As always, for all these things we give thanks, Craig MacDonnell Board ChairBoard 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-OfficioPAGE 3

Page 4

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 29 boys to come to camp in 2022 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.

Page 5

PAGE 5Report of DonorsThis Annual Report reflects all donors who gave to the Timanous Foundation from September 1, 2021 through August 31, 2022 (FY 2022). We are grateful for your support and abiding Timanous spirit. Bill and Cynthia Allen, in memory of Rob Hollis Annie Allen and Julie Allen Armstrong, in memory of Rob Hollis Garth and Heather Altenburg The Alvarez Hibbs Family The Alwang Family Mac Andrews Anonymous, in memory of Jack Culbertson, Jr. Jon and Lauri Arnold Jack Barclay George Barson Alex Benik, in memory of Rob Hollis Thomas Bergreen Peter Bopp Bob Bradley, in honor of Fred Barnes "Good stuff amigo" Austin and Sarah Bramwell John B. Branson Bill and Susan Breidenstine Laurie and Bill Brennan Bebe and Doug Broadwater Alex Bryan Bruce Carroll Will Carroll Henry Carroll Liz Carroll Alan Carroll Sharon and Sam Chaplin David Chidsey Livy Coe Jake and Sally Congleton Jake Cooley Kate Culbertson, in memory of Jack Culbertson Kirby Culbertson, in memory of Jack Culbertson Katharine (Culbertson) Prentice, in memory of Jack Culbertson Jake Culbertson in memory of Jack Culbertson Jack Cutler Jeremy Cutler The Danforth Family Matthew Dapas Julie and Duane Darienzo Kelly and Rob Dietel Dennis and Barbara Dobbyn, in memory of Rob Hollis Digger and Susan Donahue Pete Donovan, in memory of Peter Downey

Page 6

PAGE 6Report of Donors, cont.Archie Douglas Bruce and Madeline Droz Robert W. Easton, in memory of Edward Easton III Steve Engel Daniel and Ann Fisher Alex Fritzche The Ganger Family David Geis Martha Tattersall Giancola and Paul Giancola Teresa Gomez Jeffrey and Emily Goodwin Mike Goodwin P. J. Goss Jim Grover Brooke Hagerman, in memory of David Hagerman Boe Hamilton Andrew & Allison Hamm, in honor of Alex Hamm Gregg Renfrew and Mark Hancock The Hansen Family Warren Harthorne Chris and Jacqueline Hasty, in memory of Rob Hollis Kevin and Ellen Hayes Mike Hazard Hazard Family Foundation, in honor of Mike Hazard Merrit Heminway Dave Henahan Michael Henahan John "Chiz" Hoffman Douglas R. Honnold The Howell-Vieira Family Fund at The Chicago Community Foundation Dick and Susan Howlett, in memory of Rob Hollis Dave Hubbard Dan Hubbard Rollin Ives Edward R. Johnson Terry Keith Robert Keller Chris and Vonda Kelsey James & Margaret Kennerly Charitable Trust Tom Klingenstein The Kyriakakis Family

Page 7

PAGE 7Report of Donors, cont.Martha Land and Laurence Greenberg Mrs. Sandy Larkin, in honor of Casey Larkin David Larkin Law Family Jennifer Leachko Bill Leece and Kate Higgins Bill and Alice Lehmann The Lemon Foundation (Ashley Lemon Shaw) Bing Leverich Tim and Monnie Levine Nick Leyden Rick Low Kirsten Lundberg and Alex Beam Holland and K.C. Lynch Craig and Lisa MacDonnell Patrick and Deborah Madden Steve and Sue Mandel Betsy, Ned, Mollie, and Ned Mandel, in honor of Bill Leece, Fred Hollister and Dick Howlett John and Candace Marsellus Sandy Martin Nan and Ben Mason Luis Massiani and Maria Dominguez Will and Mary Mayer April and Dave McElhinny Wilson McElhinny Patty and Leo McKinney Alan McLean Dr. Fred Meine Dustin Michel William and Carolyn Miller Jill and Michael Millis Charlie and Toby Milner Kate Angelo and Francois Mobasser Jaime Perez Montes Faith and Richard Morningstar Liz and Tim Morningstar Pete Morningstar Brooks and Kristin Motley Jessica Nagle Marina Niceta and Gustavo Palazzi Mark E. Noonan Michele Oh and Nick Post Sarah and Peter O’Keefe Rika and Taito Okiura Kitty Paiste James Patton Grant Pennoyer Penobscot Financial Advisors, in honor of Sam Chaplin Nan Poor Tom Poor

Page 8

PAGE 8Report of Donors, cont.Charlie Potts and Lindy Lyman Aidan Prior Michael and Lauren Prior Ross Rankin Susie and Jim Reeks David Reid Diana, Roland and Samuel Reynolds William and Patricia Roland, in memory of Rob Hollis Lew Rumford Al Ryter Harry Saunders The Sawyers Family Jill and Denman Scott Barbara W. Secor Ashley Share and Greg Jakubowsky Susan and Sandy Sierck Andy Sims Nathanael Sprague Robert Stevens Quentin "Q" Stockwell Steve Strachan Dave and Linda Suitor Dave and Linda Suitor, in memory of Rob Hollis Christine Surette and David Ornstein Peg Tattersall Samuel C. Tattersall Fund of the Maine Community Foundation James Temple Joe Tessler and Sophia Shah Tom and Sally Tindall Town Fair Tire Foundation Tom and Deanne Urmy Kara and Tad Van Norden BVO and Lill, in memory of Rob Hollis Bill "BVO" and Lill Van Order Louise and Davis Van Winkle Mark and Quincy Van Winkle Alexander and Martha von Uckermann Susan Walcott, in memory of Jim Walcott Polly Wall Jim Ware, in memory of Rob Hollis Alan Washington Cory A. Waters David Waters-Honcu David Wheeler Sandy and Maynard Wheeler Harry and Marion Whelpley Stephanie and Ryan Whelpley Dave Whitcraft Barbie and Bill Williams Tom and Nancy Williams Robert Windsor Jim Winninghoff and Anne Derome Peter and Jo Ziesing

Page 9

Page 10

Treasurer’s LetterI'm happy to report that once again Camp Timanous remains in a very strong financial position as of the close of our fiscal year ending August 31, 2022. Despite serious declines in both the stock and bond markets, Timanous continues to be well capitalized. Total assets, including cash and investments, were just over $8.5 million, an increase of over $300,000 from last year. This was primarily the result of gifts received during the year from members of our very generous Timanous family. Donations were made to the Annual Campership, Timanous and Tattersall Funds, as well as a new, unrestricted giving category titled, "Where It's Needed Most." Donations into this category totaled $53,000, with $10,000 designated for camperships, and the balance remaining unrestricted. This was decided by a vote of the Board of Trustees. Tuition assistance to our Campership program was provided via the Annual Campership Fund and a draw from the Sandy Tattersall Fund. Finally, long-term debt includes a $500,000 SBA Economic Injury Disaster Loan (EIDL), which is a 30-year loan carrying an interest rate of 2.75%. Our ratio of current assets to liabilities remains very healthy. 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, once again, we received an unqualified opinion. Our 2021 and 2022 financial statements are included in this report. We continue to maintain our two investment accounts managed by MAI Capital Management. The Sandy Tattersall Fund is an endowment for camperships and the Timanous Fund is an unrestricted fund for capital improvements and contingencies. Due to a rapid rise in inflation expectations not seen since the 80's, the Federal Reserve has raised interest rates significantly this year, resulting in considerable losses for both stocks and bonds. Domestic and international stocks declined approximately 20% and 25% respectively, and bonds, normally a safe haven when stocks decline, lost 12%. The Timanous and Tattersall Funds had an allocation of 65% stocks and 35% bonds and bond equivalents during most of our fiscal year. We continue to favor a mix of mutual funds and low-cost exchange traded funds. For our fiscal year ending August 31, 2022, the combined net 12-month return was -13.6%. A benchmark return implied by a segmented blend of 65% stocks and 35% bonds returned -14.3%. These last few years have been difficult ones with Covid and the recent severe volatility in the financial markets. As Craig mentioned in his letter, Timanous continues to thrive through its resilience and collaboration. A sincere thanks goes out to everyone in the Timanous family for making this possible. Happy New Year! Bill Leece, TreasurerPAGE 10

Page 11

TIMANOUS FOUNDATION STATEMENTS OF ACTIVITIES Audited Financial Statements Years Ended August 31, 2022 and 2021 2022 2021 Program Income Tuition, net $ 1,295,959 $ 1,310,477 Other 34,557 17,939 Total Program Income 1,330,516 1,328,416 Expenses Program 949,147 876,497 Management and General 311,220 264,782 Fundraising 52,649 175,046 Total Expenses 1,313,016 1,316,325 Operating Income 17,500 12,091 Other Income (loss) Donations 423,799 2,699,373 Grant Income 279,257 299,469 Investment income, net (477,094) 430,533 Other income, net 6,004 0 Total Other Income 231,966 3,429,375 Change in Net Assets $ 249,466 $ 3,441,466TIMANOUS FOUNDATION STATEMENTS OF FINANCIAL POSITION Audited Financial Statements Years Ended August 31, 2022 and 2021 2022 2021 Assets Cash and Investments $5,074,826 $3,896,909 Accounts Receivable and Prepaid Expenses 24,385 43,326 Pledges Receivable 537,690 1,361,500 Fixed Assets, net of accumulated depreciation 2,893,023 2,898,005 Total Assets $8,529,924 $8,199,740 Liabilities and Net Assets Liabilities Accounts Payable and Accrued Expenses $ 92,118 $ 83,058 Deferred Revenue 5,000 23,685 Long-term debt 500,000 409,657 Total Liabilities 597,118 516,400 Net Assets Without donor restrictions 5,306,926 4,805,483 Board-designated endowment* 114,375 129,874 With donor restrictions 2,511,505 2,747,983 Total Net Assets 7,932,806 7,683,340 Total Liabilities and Net Assets $8,529,924 $8,199,740*Board designated endowment is without donor restrictions. The Timanous Foundation, dba Camp Timanous, is a recognized 501(c)(3) nonprofit organization.PAGE 11

Annual Report FY2022

Page 1

Page 2