Financial Reports

Fiscal Year 2022 | Nine Months Financial Results as of June 30th

For the nine months of the fiscal year 2022 (October 1, 2021-June 30, 2022) DignityUSA reported net operating income of $26,665 compared to a budgeted income of $11,169. Total operating income of $265,167 was $444 over budget. The combination of regular donations and the monthly Guardian Angels program totaled $90,329 and ran just $326 ahead of budget.

Total operating expenses of $238,502 were under budget by $15,053. The salaries of office staff ran $13,898 under budget, an unfortunate result of multiple staff departures earlier in the fiscal period. Staff travel was likewise under budget by $4,354 for the same reason. 

The investment portfolio reflected an unrealized LOSS of -$21,449 for the nine months.  Total net income, after the unrealized loss, was $5,217.

We also had National Conference income and expenses, prior to the event in July.  Early conference income was $73,353, while expenses were $25,357. 

Total equity at June 30 was $551,127, of which $313,670 represented unrestricted funds. Restricted funds totaled $237,457, of which the Jubilee Initiatives fund was the largest component at $111,573. A portion of the Jubilee Fund may be utilized in FY2022 to help fund the National Conference.

The organization also has $215,924 in deferred income from the Leadership Stabilization Fund (LSF) to be utilized to support the Executive Director position through FY 2024.

The entity’s overall investments amount to $386,722, of which $336,870 is invested in high quality equities and bond funds. This portion of the investments is producing annual income of about $17,500 with a yield of 5.11% (exceeding our policy goal of a 3% return). The total annual rate of return on the equity/bond portfolio since inception (4 years and 9 months) is 4.41% versus the policy goal of 5%. The portfolio has suffered rather substantial unrealized losses in the past few months as a result of the market fluctuations.  However, the annual yield remains consistent.

The LSF has now reached a pledge level of $391,600. Our goal was $400,000 with a stretch aim of $500,000. These funds are being utilized to fund the Executive Director position from FY 2021 through FY 2024, as a transitional funding source after losing major foundation funds. A final push to solicit additional chapter and member donors will be rolled out after the Conference.

 

Nancy Missall

Treasurer

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Fiscal Year 2022 | Six Months Financial Results

For the six months of the fiscal year 2022 (October 1, 2021-March 31, 2022) DignityUSA reported net operating income of $57,500 compared to a budgeted income of $11,900. Total income of $216,800 was $29,500 over budget. The combination of regular donations and the monthly Guardian Angels program totaled about $81,700 and ran $21,700 ahead of budget. Conversely the Advent Appeal with $21,900 in donations lagged the budget by about $2,100.

Total expenses of $159,300 were under budget by $16,100. The salaries of office staff ran $12,700 under budget, an unfortunate result of multiple staff departures during this period.    Staff travel was likewise under budget by $4,800 for the same reason. 

The investment portfolio reflected an unrealized gain of $1,300 for the six months, resulting in total net income of $58,800.

Total equity at March 31 was $556,400, of which $349,000 represented unrestricted funds. Restricted funds totaled $207,400, of which the Jubilee Initiatives fund was the largest component at $111,600. A portion of the Jubilee Fund may be utilized in FY2022 to help fund the National Conference.

The organization also has $236,900 in deferred income from the Leadership Stabilization Fund (LSF) to be utilized to support the Executive Director position through FY 2024.

The entity’s overall investments amount to $412,400, of which $362,000 is invested in high quality equities and bond funds. This portion of the investments is producing annual income of about $17,500 with a yield of 4.83% (exceeding our policy goal of a 3% return). The total annual rate of return on the equity/bond portfolio since inception (4 years and 6 months) is 6.18% versus the policy goal of 5%.

The LSF has now reached a pledge level of $387,600. Our goal was $400,000 with a stretch aim of $500,000. These funds are being utilized to fund the Executive Director position from FY 2021 through FY 2024, as a transitional funding source after losing major foundation funds. A final push to solicit additional chapter and member donors will be rolled out after the Conference.

 

Nancy Missall

Treasurer

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Fiscal Year 2022 | First Quarter Financial Results

For the first quarter of the fiscal year 2022 (October 1, 2021-December 31, 2021) DignityUSA reported net operating income of $24,129 compared to a budgeted income of $22,751. Total income of $103,662 was $2,235 over budget. The combination of regular donations and the monthly Guardian Angels program totaled about $39,000 and ran $8,950 ahead of budget. Conversely the Advent Appeal with $18,200 in donations lagged the budget by about $5,800 but has nearly reached the $24,000 goal at this point in January.

Total expenses of $79,533 were a mere $857 over budget. The salaries of office staff ran $4,600 under budget, an unfortunate presage of the departure of our Digital Strategist and Operations Manager in January. Countering this lower expense were mailing costs for the Advent Appeal and system platform costs that should moderate through the year.

The investment portfolio reflected an unrealized gain of $7,455 for the quarter, resulting in total net income of $31,584.

Total equity at the quarter end was $529,198, of which $321,841 represented unrestricted funds. Restricted funds totaled $207,357, of which the Jubilee Initiatives fund was the largest component at $111,573. The Board of Directors has not adopted a plan for the use of a portion of these funds in FY 2022 but is considering some options at the moment.

The organization also has $261,795 in deferred income from the Leadership Stabilization Fund (LSF) to be utilized to support the Executive Director position through FY 2024.

The entity’s overall investments amount to $415,626, of which $365,118 is invested in high quality equities and bond funds. This portion of the investments is producing annual income of about $17,300 with a yield of 4.75% (exceeding our policy goal of a 3% return). The total annual rate of return on the equity/bond portfolio since inception (4 years and 3 months) is 6.36% versus the policy goal of 5%.

The LSF has now reached a pledge level of $387,600. Our goal was $400,000 with a stretch aim of $500,000. These funds are being utilized to fund the Executive Director position from FY 2021 through FY 2024. A final push to solicit additional chapter and member donors will be rolled out next month.

 

Linda Roberts

Treasurer

01/25/2022