Conner Prairie ends 2008 in the black-WEB ONLY

Conner Prairie continued to draw more visitors and donor support in 2008, ending the year with a $299,000 surplus, CEO Ellen Rosenthal reported last night at the living-history museum’s annual meeting.

But like all of central Indiana’s major cultural institutions, the Hamilton County museum’s multimillion-dollar endowment suffered major market losses, which may reduce operating revenue in 2009.

Conner Prairie had $10.1 million in revenue last year and kept expenses at $9.8 million.

Rosenthal reported single-digit increases in general admission (6 percent) and membership (2 percent), saying the modest gains were to be expected after the 10 percent jump in visitation in 2007. Donations reached a record $1.6 million.

The single largest source of revenue, however, is the endowment, which contributed 56 percent, or $5.7 million.

Doug Church, secretary of the museum foundation, reported that the endowment had fallen from a high of $116 million early in the year to a low of $80 million in mid-November. The foundation did not have its year-end results, but was expecting a 26-percent loss for the year, which would leave the endowment at about $85.9 million.

The foundation’s total assets as of Sept. 30 were $120.7 million, down about 13 percent from $139.4 at the end of 2007.

Rosenthal said full financial results would be reported in April.