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 $100k for the first 6 months of the current FY. Overall Operating Revenues are less than budget by $47k or 9%, however, this is more than offset by the improvement in Operating Expenses of $114k less than budget. This combination results in a $67k positive variance in Net Ordinary Income from budget and $94k positive variance from prior year Net Ordinary Income.
Revenue from Programs is $224k FYTD, 6% or $14k ahead of budget and 19% higher than prior year primarily due to higher than anticipated fitness memberships. Program direct costs FYTD are $135k, trending 20% or $34k lower than budget and $28k, or 17%, less than prior year. This is due to reduced headcount and employee benefit savings and lower overall expenses in fitness and youth programs.
General and Administrative expenses are $222k, 14% or $37k under budget and $53k or 19% less than prior year. This is due to reduced headcount, employee benefit savings and delay in hiring Operations Director.
Fundraising revenue FYTD is $247k. This represents a swing from being favorable to budget in the prior month reporting period to being 20% lower than anticipated and 12% less than same time prior year. This one month swing in December is the impact of not receiving year end donations matching Dec. 2017 level. Correspondingly, FYTD Fundraising direct costs are underbudget by $44k, or 57%, due to delays in hiring Dev. Dir. and Event Coordinator and are 20% less than prior year fundraising expenses by $8k. Overall Fundraising income of $213k is unfavorable to budget by $17k and lags behind prior year by $25k.
Capital income and expenses are not on target with Capital budget. This is solely timing issues related to the delay of capital expenditures and associated reimbursements from Manatee County. It is anticipated sources and uses of Capital funds will be on target with budget by fiscal year end.
Christine Major Hicks