FISCAL YEAR 20172018 BUDGET Presented to the Board of Directors May - PowerPoint PPT Presentation

FISCAL YEAR 2017‐2018 BUDGET Presented to the Board of Directors May 23, 2017

Executive Summary • Key Budget Objectives – No major changes to operations in FY17‐18 – Campaign funds still cover Central and George Mason expansions

Efficiency Ratio 15% 10% Program Administration Fundraising 75%

Programs • Youth Program – After School – Summer – Volunteer • Richmond Promise Neighborhood • Community Engagement

Program Cost % to Total Program Cost 13% Youth Program 14% Richmond Promise Neighborhood Community Engagement 73%

Program Outlook • Service to 200 youth – Central – Fairfield – Woodville • Program expansion – Additional 100 youth (300 total) – On‐site expansion funded through the Campaign for FY18 – Additional off‐site location funded through the Campaign for FY18 • Community Engagement and RPN updates – Increasing number of families in Promise Family Network – Employment Action Team (minimal budget implications)

Fund Development Outlook • Key Objective ‐ Donor retention and revenue growth over FY 16‐17 – Individual contributions remain constant over FY 16‐17 goal, requires significant engagement from Board and Development committee to hit target – Minimal change in Government funding from the City of Richmond – Decrease in Corporate goal based on the projected actuals for FY16‐17 – Increased Foundation goal based on verbal commitment for a large gift to be received and used for programming during FY17‐18 – Increased Licensing Revenue goal based upon actuals for FY16‐17

Expenses Outlook • Key Objectives – Increased Insurance because of new facility – Increased Personnel Costs to add Mentoring Coordinator and Family Engagement Coordinator (2 full‐time positions) and Woodville Coordinator – Increased Professional Fees to add a part‐time Grants Manager contract position

Fund Development Fundraising Ratio = 15% $2,000,000 $1,757,000 $1,800,000 $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $267,345 $200,000 $‐ Fundraising Expenses Contributed Revenue

Proposed FY 2017‐2018 Budget ‐ Income Percentage FY17 To Date Income FY 2017‐2018 FY 2016‐2017 Difference Incr/Decr (Jul‐Apr) Churches/Civic Org 90,000 90,000 ‐ 0% 61,837 Corporate 227,000 250,000 (23,000) ‐10% 130,978 Government 37,500 37,500 ‐ 0% 37,500 Foundations 647,000 470,000 177,000 27% 397,100 United Way 100,000 100,000 ‐ 0% 128,200 Individuals 550,000 550,000 ‐ 0% 413,130 Special Events 40,000 40,000 ‐ 0% 50,198 Endowment Contributions 1,500 1,500 ‐ 0% 1,079 Licensing Revenue 64,000 50,000 14,000 22% 60,000 Program Fees 27,000 25,148 1,852 100% 17,492 Rental Income 10,821 7,415 3,406 31% 7,346 Other Income 3,000 3,000 ‐ 0% ‐ Interest Income 4,437 4,437 ‐ 100% 3,904 Total Revenue 1,802,258 1,629,000 173,258 10% 1,308,765

Proposed FY 2017‐2018 Budget ‐ Expenses Percentage FY17 To Date Expenses FY 2017‐2018 FY 2016‐2017 Difference Incr/Decr (Jul‐Apr) Fundraising Expense/Annual Fund 43,000 41,400 1,600 4% 35,351 Insurance 35,000 23,000 12,000 34% 22,550 Interest Expense 22,600 22,600 ‐ 0% 14,877 Memberships 600 600 ‐ 0% 98 Occupancy Expense 41,200 41,200 ‐ 0% 34,852 Office Supplies 8,100 8,500 (400) ‐5% 4,474 Personnel Costs 1,308,532 1,189,631 118,901 9% 921,666 Postage and Delivery 5,100 3,700 1,400 27% 1,908 Printing and Copying 13,860 13,860 ‐ 0% 11,188 Professional Fees 77,320 53,320 24,000 31% 53,139 Program Supplies and Activities 153,771 140,414 13,357 9% 91,869 Repairs and Maintenance 24,000 24,000 ‐ 0% 14,048 Security 1,500 1,500 ‐ 0% 125 Staff Training & Conference 20,800 18,400 2,400 12% 15,413 Taxes‐Personal Property 6,500 6,500 ‐ 0% 5,664 Telephone and Communications 14,375 14,375 ‐ 0% 9,878 Transportation 26,000 26,000 ‐ 0% 17,973 Total Expenses 1,802,258 1,629,000 173,258 10% 1,255,072 Excess Revenue over Expenses 0 0 0 0 53,693

Q & A