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.
January 2018 was a big revenue month for the Center operationally with $128k in total revenue, $81k of this was program related due to the seasonality of memberships and impact of Island Fitness membership transfers. Total revenue is $614k for the fiscal year to date. Overall net income for the year remains in the black, at a positive $6112, $148k higher than prior year to date and $42k over budget.
Operations results continued the positive trends over last year with higher revenues and lower expenses. Total Program Income/(Loss) for the year remains positive at $76k.
• Total Program Revenue is 31% above last year for the first 7 months
• Total Program Direct Costs are -13% below last year for the first 7 months
• Total Program Income/Loss from direct operations is a positive $76k thru January — compared to a negative -$25k last year, a $101k positive swing. We are on target with budget.
• Overhead expenses (indirect program support and general admin expenses) are down $79k or -19% from last year and $16k, or 5%, from budget.
Going forward we need to continue the good work building the Center’s financial health with focused efforts in the area of fundraising — notably grants, continuing strong donations, and municipality support —.
Christine Major Hicks
The Center’s yearly audit and 990 are done by