2015 Treasurer’s Report October 19, 2015 Chip Gaysunas

Overview  Operating trends are positive  Revenues have increased steadily from $1,231M in 2010 to $1,617M in 2014, primarily due to increases in Junior Program revenues, kayak rentals and “Other” revenues (Guest Privileges, Damage Waivers, EF Sponsorship)  Cash from Operations has been positive each year since 2011  Revenue and Cash from Operations are ahead of Plan through 9/30/15 2

Overview  CBI’s financial condition is stable  Net Assets have increased from $1,075M at 12/31/10 to $1,630M at 12/31/14  Cash is ahead of Prior Year at 9/30/15 and is expected to exceed $350M at 12/31/15  CBI’s Endowment has increased from $878M at 12/31/10 to over $1,200M at 10/15/15  CBI continues to invest in its most important “assets”: staff, fleet and facilities 3

Overview  Reporting & Oversight  Budget & Finance Committee meets monthly and Investment Sub Committee meets quarterly  Seamless transition to new Staff Accountant, Ying Chen, in 2014  CBI’s auditor, Melissa Gilroy, issued a clean opinion on the 2014 financials  CBI’s annual financial reports are available to members of the Corporation and the general public on the Attorney General’s website under Public Charities Annual Filings 4

Historical Perspective *Excludes Non-Operating investment and endowment activity

6 Historical Perspective

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FYE 12/31/14 Highlights  In FYE 12/31/14 CBI reported improvement in most all key financial measures:  Revenues of $1,617M, exceeded Prior Year and Plan due to increased Junior Program revenue, increased kayak rentals and increased “Other” revenue from Guest Privileges, Damage Waivers and EF Sponsorship  Cash from Operations doubled from $71M in 2013 to $141M in 2014  At 12/31/14, CBI reported five-year highs in Cash ($377M), Property & Equipment ($245M), the Endowment ($1,234M) and Net Assets ($1,630M) 8

2015 YTD Results 9 *Excludes Non-Operating investment and endowment activity

2015 YTD Results 10

2015 YTD Results  2015 YTD operating performance and financial condition are stable  Revenues of $1,571M are ahead of Prior Year ($1,494M) and Plan ($1,522M)  Cash From Operations is $23M below Prior Year due to an increase in payroll expenses, but $57M ahead of Plan due to higher than budgeted revenue and lower than budgeted payroll  Cash of $572M is $44M ahead of Prior Year, but $29M below Plan due primarily to early payment of insurance premiums  Net assets of $2,029M are $36M ahead of Prior Year, but $47M below Plan ($2,076M) due to a $77M drop in the market value of the Endowment in Q3’15. At 10/15/15, the market value of the Endowment had bounced back from $1,170M to $1,215M 11

12 Through 9/30/15, CBI reported 2,496 in Adult Full Season Membership Sales, even with the prior year (2,499).

Looking Ahead  CBI’s financial goals and expectations are reviewed each fall as part of the annual budgeting process. This year there will be increased focus on aligning the budget, with CBI’s updated strategic plan  Expect stable adult membership revenue, with modest increases in junior program revenue and kayak rental. Payroll expense is expected to increase due to market factors and recent legislation (minimum wage, accrued sick time)  Contributions, corporate sponsorship (EF, Polar) and releases from the Endowment (>$50M in 2015) will continue to be important sources of ongoing support for CBI  Expect continued focus by Management, BufCom and the Board on maintaining fiscal balance, while continuing to invest in CBI’s staff, fleet and facilities 13

Questions Contacts: Chip Gaysunas, Treasurer Charlie Zechel, Executive Director Ying Chen, Staff Accountant 14