Senior Gleaners of San Diego County
Annual Report of the Treasurer for 2017
January 6, 2018
Following is a summary of our 2017 financial Status.
INCOME:
Total Income received for 2017: $23,408.76
Of that amount, $3,299.33 was from donations by individuals, $761.43 was grants, $18,500 was from our portfolio reserve account, and $848 from businesses.
This total was $2,219 less than budgeted for 2017.
As of 12/31/2017 we have accounts receivable of $2,716.73 (reimbursement for vanmileage by Heaven’s Windows).
EXPENSES:
Total Expenses for 2017: $23,754.47. This was $1,495 less than budgeted.
Significant changes in our expenditures this year include:
We relinquished our storage space and related pest control cost (totaling $797 per month) in March
We still use three vans in our program, and our auto insurance increased to $6,710, and repairs on the vans totaled $3,769 which was $1,369 over the planned budget. Fuel cost totaled $3,677 which was $523 under budget.
We added a part-time administrative assistant this year which adds an average of $504 per month starting in May to expenses and came to a total of $4,299 for the year.
NET LOSS:
This amounts to a net loss for 2017 of $345.71. This was covered by the checkbook balance of $2539.68 carried over from 2016.
RESERVES:
Our Fidelity portfolio reserve account was valued at $193,916 as of Dec. 31, 2017
The checkbook balance on Dec. 31, 2017 is $1662.30, with two checks still outstanding ($23.71 and $200) from 2017 to be paid.
ASSETS AND LIABILITIES:
This leaves us with assets at the end of 2017 of $195,578.30, and liabilities of $223.71, with accounts receivable of $2,716.73. This compares with $183,043.65 of assets and $73.60 of liabilities at the end of 2016.
Senior Gleaners maintains a credit line of $2,000 in connection with our checking account at US Bank. It is currently at $0.
In addition, we have the assets of three vans:
Approximate Value
2012 Ford E350, purchased 11/21/2015$18,000
1996 Chevy G3500$ 2,200
2006 Chevy G30$ 7,000
Our Federal Tax form 990N, and our California Tax form 199N and California “Statement of Information” form were filed in the first two weeks of January 2018.
Respectfully submitted 1/6/2018, BillRadatz, Treasurer.