FINANCIAL OVERVIEW

At the close of fiscal year 2004-2005, TCG's financial situation remains extremely healthy. Net assets at the end of this fiscal year were $8,075,634, broken out between a permanently restricted endowment of $1,000,000, and the remaining split between $6,220,696 in temporarily restricted net assets and $854,938 in unrestricted net assets.

All not-for-profit organizations strive to create diverse sources of revenue to help protect against being too heavily reliant on one area of income. TCG continues to enjoy diverse sources of income, with support from foundations, corporations, individuals and government grants representing 29% of our income; 30% from book sales; 11% from subscriptions; 12% from theatre memberships; 6% from investment gains and interest and the remaining amount from other areas.

Continuing to emphasize our programs and services allows TCG to better serve our members and we are pleased to report that in 2004-2005 we maintained a ratio of 86% program expenses to 14% administrative expenses. TCG's auditors have noted that the organization sustains an excellent level of spending on programmatic expenses.