DECEMBER 2016 TREASURER’S REPORT
• $30,986 increase in net assets for the year. This is a decrease of $41,994 from 2015 which is basically accounted for by two one-time increases in 2015: a $20,000 donation and a $25,000 restricted grant.
• 2016 “60%” reserved: $27,572.47.
• The undeposited funds ($10,758.36) are contributions dated in December that were in transit as of 12/31/2016 and deposited in January 2017. See attached details.
• 2016 YTD restricted funds receipts totaled $2,133. After posting YTD student expenses, the temporarily restricted fund balance is $23,542.80.
– This balance includes $22,946.80 from the PNC grant that was received in 2015. The grant term expired 12/31/2016. We submitted the required reports and haven’t received any communication from PNC as to whether the grant will need to be repaid or if the grant
period/terms can be extended.
• The remaining restricted funds balance ($596) is miscellaneous donor imposed restrictions. See schedule for details.
Donations & Expenses
• Cash contributions received for the year totaled $48,087.
• Non cash contributions of clothing, toiletries, etc. were received and according to donor valuations were valued at $6,812.
• Cash student expenses for the year were $15,476.
• General and administrative expenses for the year were $2,652.
• A listing of YTD (2016 and 2015) donors is attached.
Budget vs. Actual
• The 2016 budget vs. actual comparison is attached. Hope House exceeded budget goals for 2016. The increase in fund balance was almost $15,000 over budget. The major impacts on the budget variance were a decrease in contributions and underspending on rents and summer specialty camps. This overage will be reversed in 2017 if PNC requires the balance of the grant ($22,946.80) to be repaid.
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