Financial Sustainability and Risk Management: Vision
The Garden’s mission and this strategic plan can only be fulfilled if the Garden is financially secure.
The Garden will thoughtfully allocate its resources, safeguard its assets, mitigate business and financial risk, diversify revenue sources, and build a solid financial foundation that can withstand the uncertainties of the future.
The Garden is committed to serving the needs of its partners and advocates, in particular the Forest Preserve District of Cook County.
Financial Sustainability and Risk Management: Goals
The Garden will remain committed to serving the needs of all the people of Cook County and to proudly communicating the model public-private partnership that the Chicago Horticultural Society and the Forest Preserve District of Cook County have built together.
The Garden will grow annual revenue to meet annual expense increases by diversifying revenue sources. For example, we will increase memberships; expand and create new business initiatives, build strategic partnerships with corporations, public agencies, and not-for-profits; ensure positive relationships with suppliers; and build strong relationships across all donor constituencies. We will grow our base of supporters locally, nationally, and internationally;
The Garden will adhere to our revised asset allocation strategy and endowment policies to maximize investment returns, ensure that the Garden is always in a position to meet current operating revenue requirements, meet annual interest payments, be in compliance with debt covenant regulations, and be in a fiscal position to repay or refinance debt upon bond maturity in 2029 and 2043;
The Garden will meet annual goals established to grow the endowment principal, using a ratio of 4:1 to operating expenses as its goal;
The Garden will complete fundraising for the Science Initiative and engage in fundraising to complete other priority projects on the Master Site Plan. Particular emphasis will be placed on ongoing maintenance projects and completing the following projects before 2020: the Children’s Campus, McDonald Woods, shoreline restoration, the Garden Café, production greenhouses and nurseries, and the Brown Nature Reserve;
The Garden will continue to receive outside confirmation from ratings groups, auditors, and peers that the Garden’s budgeting process, accounting standards, and financial reporting are of the highest integrity and quality and serve as models of transparency for both non-profits and for-profits;
The Garden will reach confidence that emergency preparedness systems are in place to respond a wide variety of cataclysmic events.
The Garden will deepen its relationships with the State of Illinois, the U.S. Government, and the City of Chicago.