FY’26 Second Quarter Financial Report

Since the FHGC operates on an October through September fiscal year, the first half of our fiscal year ends on March 31^st. Note that the 2025 Board of Directors managed our finances in the first fiscal quarter, with the 2026 board transitioning to manage them starting in January.

Revenues: Overall revenue is $2.194M for the first six months of the fiscal year, representing 92% of our total revenue budget. As expected at this point in our fiscal year, over 97% of FY’26 maintenance charges and 95% of the parking decal budget have been paid. We received $12,000 for a TV shoot and are tracking ahead on arrears payments ($14,084 vs. annual budget of $10,500).

Expenses: Overall, $1.326M has been spent halfway through our fiscal year, which is 56% of our annual budget. Budget outliers include:

• Insurance – The insurance budget for the year is already over by 15% due to umbrella liability premiums higher than planned (note that most of the insurance budget was spent in Q1)
• Legal – $222K has been spent on legal expenses during the first half of the fiscal year, which represents 74% of its annual budget. Most of these expenses were in the first quarter ($182K) and were for concert litigation and corporate governance.
• Snow Removal – Our snowy winter resulted in spending $44K for salt versus a budget of $25K for the year. Labor costs associated with snow removal are included in the salary budget.
• Professional Fees – We are tracking under budget for professional fees this year. Thus far, we have spent 23% ($30K) of our $131K budget, with consulting expenses beyond our accounting/audit firm not expected to be fully spent.
• Traffic, Sewer Maintenance, Sewer Survey, Major Equipment Purchase ($202K total) – these budget items have yet to be spent but are expected to be by the end of the fiscal year in September.

Community Member Profile

Where the World Meets the Garden

Annemarie von Roessel and Matthew Varghese

Annemarie and Matthew moved to Forest Hills Gardens three years ago after more than a decade on Roosevelt Island. During the pandemic, they began thinking about a home that would offer more space, a garden, and a stronger sense of neighborhood.

Entertaining is an important part of their lives, and their home is often filled with friends, conversation, and meals shaped by places they have lived and worked. Matthew is the cook, drawing on experiences gathered over years of international travel. Guests come from different parts of their lives — colleagues, neighbors, and friends from abroad — and conversation moves easily between books, current events, and shared experience.

Annemarie, an architectural historian, had long known Forest Hills Gardens from her studies. “It appeared often in urban planning courses,” she says. “I liked the idea of living somewhere where the original design still matters.” They focused their search here and waited for a house that had retained its character. “We wanted to live with the history of the building,” she says.

Matthew’s career in international public service with organizations including the United Nations, the Red Cross, and the World Bank has taken him to many cities. He was drawn to the balance of access and continuity.

“You can reach Manhattan easily, but daily life here has a steadiness,” he says.

Annemarie works as an archivist and Assistant Curator in the Theatre Division of The New York Public Library for the Performing Arts, where she helps preserve materials documenting performance history. Her current exhibition at the Lincoln Center branch (link here) explores the relationship between stage magic and theatre, marking the 100th anniversary of Harry Houdini’s death. Plan a visit before it closes in July!

The front garden has become an ongoing project, shaped gradually through observation and seasonal change, with attention to plants suited to the local environment and the historic character of the Gardens. “I’m learning as I go,” she says. The front garden continues to change season by season. Inside, the table is rarely empty for long.

Mystery & Wonder Exhibit (link) on display at NYPL

Lincoln Center branch through July 11^th