After months of public debate and speculation, the financials have been tallied, and the Tall Ships 2015 Festival ended up netting Greenport just under $60,000 in profits.
The financial report was released today, listing all the expenses, which included $295,369.40 in expenses, and revenue of $354,029, with an end profit of $58,659.60.
Village Clerk Sylvia Pirillo said Friday the village did “very well.”
Trustee Julia Robins, who served as the village board liaison to the Tall Ships Committee and to the BID, said she was “thrilled” by the profit. She said the large turnout signaled a profit, but the village wanted to be sure every last expense and revenue source was tallied before releasing the final numbers.
Everyone involved in the event, she said, was fully committed and worked tirelessly, including locals who volunteered for days, to make sure all went smoothly. The event itself, she said, was “magical,” showcasing the village as a jewel in the East End crown.
For months, residents and Trustee Doug Roberts questioned whether the proceeds of the event would justify the expense to the village, as well as the impact felt by local businesses that said they would lose businesses due to street closures on the busy July 4 weekend.
Expenses included $50,000 in port fees to the Friends of Hermione, $17,500 for marketing, $126,000 to the Tall Ships, $7,850 for bands, and other costs including advertising, artwork, printing and promotion, security, employee overtime, sanitation, refuse removal, tents, staff T-shirts, and other incidentals.
Revenues were realized through $102,000 in sponsorships — the Business Improvement District brought in over the promised $100,000 pledged — and over $226,000 in ticket sales.
The Tall Ships Festival brought thousands to Greenport to view the Tall Ships, including the Hermione, the centerpiece of the event. The festival kicked off with a Captain’s Reception at Brecknock Hall.
The four-day Tall Ships festival, Mayor George Hubbard said during the event, went “off without a hitch,” bringing thousands of visitors into the village of only 2,200 residents who enjoyed the magnificent ships, including the Hermione, Picton Castle, Sagres, Lynx, AJ Meerwald and Kalmar Nyckel.
The ships in the harbor, Hubbard said, were “a beautiful sight.” The festival not only opened the eyes of visitors to all Greenport has to offer, but also, to locals, many of whom went out on the docks for the very first time, including the mayor’s own grandson, he said.
