A white-lined sphinx moth (Hyles lineata) hovers near Penstemon virens at Mount Goliath.

TREASURER’S REPORT

The accompanying combined financial statements include the accounts of Denver Botanic Gardens Inc. (DBG), established in 1951, and Denver Botanic Gardens Endowment Inc. (DBGE), a separate not-for-profi t organization established in 1991.

DBG had an exciting year of change and construction projects in 2009. At the end of the year, construction was complete or substantially complete on infrastructure improvements, the new parking structure, the Bonfils-Stanton Visitor Center and the new Offshoots at the Gardens cafe. New gardens, critical repairs and technology upgrades were also completed during 2009.

DBG’s operations had a decrease in net assets of $2.9 million in 2009 due to construction, which was offset primarily by market gains in DBGE’s investment portfolio of $3 million (for an overall combined net decrease of $11,000 in net assets).

22 www.botanicgardens.org