The Center’s financial information is now easily accessible online. These include our current and past 990’s and the most recent fully audited financial statements, as well as our most recent monthly financials reviewed and approved by the Board of Directors.
Monthly financial prepared by:
Net Ordinary Income (income from operations, excludes capital items) is a positive $162k for the 8 months July – Feb of the current FY. This is $153k or 1703% higher than prior year of $9k and 239% or $114k above budget target of $47k. Total Operating Revenues are 3% under budget and slightly higher than prior year. The improvement in Total Operating Expenses, which are 19% or $136k under budget, has contributed to the significant positive variance in Net Ordinary Income.
Revenue from Programs is $383k FYTD, $23k or 7% ahead of budget due to higher than anticipated fitness memberships and $42k or 12% higher than prior year. Program direct costs FYTD are $193k, trending $33k or 15% lower than budget and $54k or 22% less than prior year due to reduced headcount, employee benefit savings and lower overall expenses in fitness and youth programs.
General and Administrative expenses FYTD are $309k, $45k or 13% under budget and $76k or 20% less than prior year. Reduced headcount, employee benefit savings and delay in hiring Operations Director have contributed to the positive variances.
Fundraising revenue FYTD is $340k, 12% lower than anticipated and 9% less than same time prior year. Grant funding has not materialzed and year end giving was less than budget and prior year. Correspondingly, Fundraising direct costs are underbudget by $57k or 49% due to delays in hiring Dev. Dir. and Event Coordinator and are $17k or 22% less than prior year fundraising expenses. Overall Fundraising income of $280k is favorable to budget by $12k and trails behind prior year by $18k.
Capital activity is not on target with capital budget due to the delay of $52k in reimbursements requests to be submitted to Manatee County. It is anticipated sources and uses of Capital funds will be on target with budget by fiscal year end.
Christine Major Hicks
The Center’s yearly audit and 990 are done by