2021 Annual Report | Page 14



WE SEE YOUR EYES GLAZING OVER — but don ’ t skip this part . This web of numbers may seem like a formality best left to accountants , but they represent the investments you make in our work and how they impact the park ecosystems , historic and cultural resources , and developing minds who depend on our STEM education programs .
ACCOUNTS / PLEDGES RECEIVABLE : In 2018 , The Conservancy ’ s founder , Laura Davick , rallied the community for the North Beach restoration project and garnered enough in pledges from our donors to complete the hardest part of the project to get people excited about : infrastructure . But once the 17 retaining walls , 650-foot-long boardwalk , and modernized utilities were installed in 2019 , the restoration of the first cottages finally began .
PPP LOAN : The Conservancy secured Paycheck Protection Program loans that allowed us to keep our staff intact during months of shutdowns in 2020 and early 2021 . These loans have been fully forgiven , allowing us to move forward with no liabilities — and our staff spared some of the struggles caused by the pandemic .
COTTAGE RENTALS AND CONCESSIONS INCOME : Revenue from cottage rentals and food service is used to maintain the historic structures and fund special projects in the park . Once our obligations to Crystal Cove State Park are met each year , revenue is passed through to support K-12 STEM education programs .
SPECIAL EVENTS : We decided to swap the swank and formality of our annual Soiree for a more casual celebration in the Historic District , closer to our beloved cottages and the crashing of the waves . With the help of a generous matching gift from Massen Greene Foundation , the event netted over $ 450k in support of our STEM programs for under-resourced students . With our generous partners — Brian Dobbin Inc ., Roger ’ s Gardens , Foley Family Wines , and The Ecology Center — we were able to create a magical evening for our loyal friends and supporters . We ’ re beyond grateful .
PLEDGES AND CONTRIBUTIONS : Contributions from our foundation and corporate sponsors , as well as from hundreds and hundreds of you , combined to provide the resources to move our STEM education programs online and keep them free for teachers ( thanks Massen Greene Foundation ; Edison International , Capital Group , and Ueberroth Family Foundation !), to bring students out to study the Crystal Cove SMCA virtually ( thanks Coastal Quest and Ocean Protection Council !); to launch two new environmental career internship programs ( thanks , Parks California and California State Parks Foundation !), and to continue to impact and inspire thousands of students even when they couldn ’ t join us in person at the park .