The Center’s financial information is now easily accessible online. These include our most recent Form 990 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:
- The month of April 2018 experienced a net loss of $25k.
- Total fiscal year net loss is $15k.
- This is an impressive $227k positive improvement over prior year’s net loss of $242k.
- The $46k negative variance from the positive $31,162 budgeted net income due to imprecise budget allocation methods and fundraising contribution delays.
Total revenues year to date are $840k.
- This is an 8.2% increase, or $64k more than prior year.
- This is $121k lower than budget with the difference primarily in fundraising.
Program revenues for the year are $442k.
- Outpaced prior year by $116k, a 35% increase.
- Are within 2% of the budgeted target of $450k.
Fundraising revenues for the fiscal year to date are $399k,
- Underperforming last year by $52k and
- Under budget target by $113k reflecting anticipated grants not awarded and funding delays from trust, estate and Island Cities.
Total expenses for April year to date are $855k
- This is $164k less than prior year
- $76k, or 8%, less than budget
Program Direct Costs April YTD are $307k
- $43k less than prior year, a 12% decrease
- $27k less than budget, an 8.2% savings in direct expenses
General and Administrative expenses April YTD are $460k
- $128k less than prior year, a 22% decrease
- $25k, or 5%, under budget
Fundraising Direct Costs are $88k FYTD
- 9% lower than prior year
- 21% higher than budget due to higher special events costs
OUTLOOK FY 2017/2018 – 5/17/18
NET INCOME PROJECTION – $5,141
- Slightly higher than budget
PROGRAM REVENUE PROJECTION – $523,729
- On target with budget
FUNDRAISING PROJECTION- $490,817
- $90k estimate May and June: Giving Challenge $38,500, Misc. $5,000, Island Cities $45,500
- $89K under budget for the year
OVERALL EXPENSES – savings will trend with year to date actual savings
- $93k or 10%, less overall expenses than budgeted
Christine Major Hicks
The Center’s yearly audit and 990 are done by