Financial Reports

Fiscal Year 2024 | Financial Results for Six Months Ending March 31, 2024

For the six months ending March 31, 2024, DignityUSA reported a net operating income of $8,767, compared to a budgeted $29,721. Total income was $193,772. This included $130,065 in contributions, grants and dues and $15,000 in additional Leadership Stabilization Fund pledges. The Advent Appeal added $31,600.

Total expenses were $185,006. Personnel costs accounted for $99,371 of the costs and professional fees and contract services for $30,287.  Grants & Contract costs were $17,059.  

The investment portfolio reflected an unrealized gain of $34,936 for the six months.  Total net income, after the unrealized gain and fund transfers, was $43,702.

Total equity as of March 31, 2024, was $561,754, of which $466,275 represented unrestricted funds, including Board Designated funds of $161,800. Restricted funds totaled $95,479. 

Investments totaled $405,898, of which $380,898 is invested in high quality equities and bond funds. This portion of the investments produces annual income of about $16,000 with a yield of 4.46% (exceeding our policy goal of a 3% return). The total annual rate of return on the equity/bond portfolio since inception (2017) is 6.23% versus the policy goal of 5%.

The LSF is now at a total pledge level of $407,499. Our goal was $400,000. These funds were raised and 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. The Board is seeking alternate long-term funding to offset the loss of the LSF when the campaign is closed in FY2024. 

Nancy Missall

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Fiscal Year 2024 | Financial Results for Three Months Ending December 31, 2023

For the three months ending December 31, 2023, DignityUSA reported a net operating income of $61,230, compared to a budgeted $18,891. Total income was $145,698. This included $93,707 in contributions, grants and dues and $27,846 in Leadership Stabilization Fund utilization. The Advent Appeal added $19,209.

Total expenses were $84,468. Personnel costs accounted for $50,736 of the costs and professional fees and contract services  for $10,926.  Travel and meeting costs were $5,618, and Caucus/committee initiatives amounted to $2,707. 

The investment portfolio reflected an unrealized gain of $20,246 for the three months.  Total net income, after the unrealized gain and fund transfers, was $86,350.

Total equity as of September 30th was $523,470, of which $495,053 represented unrestricted funds, including Board Designated funds of $171,548. Restricted funds totaled $28,417. 

The organization had $60,712 in deferred income from the Leadership Stabilization Fund (LSF) to be utilized to support the Executive Director position in FY 2024.

The entity’s overall investments were $391,208, of which $366,208 is invested in high quality equities and bond funds. This portion of the investments produces annual income of about $16,000 with a yield of 4.70% (exceeding our policy goal of a 3% return). The total annual rate of return on the equity/bond portfolio since inception (2017) is 5.69% versus the policy goal of 5%.

The LSF is now at a total pledge level of $404,999. Our goal was $400,000. 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. The Board is seeking alternate long-term funding to offset the loss of the LSF when the campaign is closed in FY2024.

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Fiscal Year 2023 | Twelve Months’ Financial Results as of September 30, 2023

For the twelve months ending June 30, 2023, DignityUSA reported a net operating loss of -$5,633 compared to a budget of $22,475. Total income was $425,837. This included $234,794 in contributions, grants and dues and $112,572 in Leadership Stabilization Fund Income.

Total expenses were $431,470. Personnel costs accounted for $221,791 of the costs and professional fees and contract services  for $83,454.  Travel and meeting costs were $30,603, and Caucus/committee initiatives amounted to $43,582. 

The investment portfolio reflected an unrealized gain of $30,221 for the twelve months.  Total net income, after the unrealized gain, was $24,588.

Total equity as of September 30th was $441,380, of which $410,297 represented unrestricted funds, including Board Designated funds of $176,422. Restricted funds totaled $31,083. 

The organization had $78,557 in deferred income from the Leadership Stabilization Fund (LSF) to be utilized to support the Executive Director position in FY 2024.

The entity’s overall investments were $393,483, of which $343,491 is invested in high quality equities and bond funds. This portion of the investments produces annual income of about $16,000 with a yield of 4.94% (exceeding our policy goal of a 3% return). The total annual rate of return on the equity/bond portfolio since inception (2017) is 4.67% versus the policy goal of 5%.

The LSF is now at a pledge level of $394,999. Our goal was $400,000. 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. The Board is seeking alternate long-term funding to offset the loss of the LSF when the campaign is closed in FY2024. 

Nancy Missall

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Fiscal Year 2023 | Nine Months’ Financial Results as of June 30, 2023

For the nine months ending June 30, 2023, DignityUSA reported net operating income of $1,764 compared to a budget of $20,869. Total income was $317,037. This included $195,164 in contributions, grants and dues and $84,332 in Leadership Stabilization Fund Income.

Total expenses were $315,272. Personnel costs accounted for $157,448 of the costs and professional fees and contract services  for $64,761.  Travel and meeting costs were $17,948, and Caucus/committee initiatives amounted to $37,329. 

The investment portfolio reflected an unrealized gain of $45,458 for the nine  months.  Total net income, after the unrealized gain, was $47,222.

Total equity as of June 30th was $464,014, of which $430,827 represented unrestricted funds, including Board Designated funds of $176,172. Restricted funds totaled $33,187. 

The organization had $108,797 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 $406,848, of which $357,104 is invested in high quality equities and bond funds. This portion of the investments produces annual income of about $16,000 with a yield of 4.79% (exceeding our policy goal of a 3% return). The total annual rate of return on the equity/bond portfolio since inception (2017) is 5.37% versus the policy goal of 5%.

The LSF has now reached a pledge level of $396,999. Our goal was $400,000. 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 is planned.  Alternate long-term funding is being investigated and must be secured to offset the loss of the LSF when the campaign is closed. 

Nancy Missall

Treasurer

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Fiscal Year 2023 | Six Months Financial Results as of March 31, 2023

For the first six months of fiscal year 2023 DignityUSA reported net operating income of $63,865 compared to a budget of $19,242. Total income was $228,425. This included $152,956 in contributions, grants and dues and $54,344 in Leadership Stabilization Fund Income.

Total expenses were $164,560. Personnel costs accounted for $101,203 of the costs and professional fees and contract services  for $23,476. 

The investment portfolio reflected an unrealized gain of $38,691 for the six  months.  Total net income, after the unrealized gain, was $102,556.

Total equity as of March 31st was $519,348, of which $486,161 represented unrestricted funds, including Board Designated funds of $176,172. Restricted funds totaled $33,187. 

The organization had $138,285 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 $400,595, of which $350,351 is invested in high quality equities and bond funds. This portion of the investments produces annual income of about $16,000 with a yield of 4.98% (exceeding our policy goal of a 3% return). The total annual rate of return on the equity/bond portfolio since inception (2017) is 5.15% versus the policy goal of 5%.

The LSF has now reached a pledge level of $396,499. Our goal was $400,000. 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 is planned.  Alternate long-term funding is being investigated and must be secured to offset the loss of the LSF when the campaign is closed. 

Nancy Missall

Treasurer

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Fiscal Year 2023 | 1st Quarter Financial Results as of December 31, 2022

For the first quarter of fiscal year 2023 DignityUSA reported net operating income of $36,183 compared to budgeted income of $4,124. Total income was $115,457. This included $78,135 in contributions and dues and $28,641 in Leadership Stabilization Fund Income.

Total expenses were $79,274. Personnel costs accounted for $50,473 of the costs and professional fees and contract services for $11,771.

The investment portfolio reflected an unrealized gain of $40,222 for the three months. Total net income, after the unrealized gain, was $76,405.

Total equity as of December 31st was $496,234, of which $463,047 represented unrestricted funds, including Board Designated funds of $176,172. Restricted funds totaled $33,187.

The organization had $156,089 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 $402,125, of which $352,276 is invested in high quality equities and bond funds. This portion of the investments is producing annual income of about $18,000 with a yield of 4.94% (exceeding our policy goal of a 3% return). The total annual rate of return on the equity/bond portfolio since inception (2017) is 5.3% versus the policy goal of 5%.

The LSF has now reached a pledge level of $391,600. Our goal was $400,000. 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 is planned. Alternate long-term funding is being investigated and must be secured to offset the loss of the LSF when the campaign is closed.

Nancy Missall

Treasurer

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Fiscal Year 2022 | Twelve Months Financial Results as of September 30th (Unaudited)

For the twelve months of the fiscal year 2022 (October 1, 2021-September 30, 2022) DignityUSA reported net operating loss of -$30,518 compared to a budgeted loss of -$7,147. Total income was $452,624. This included $197,680 in contributions and dues, $76,661 in National Conference Income and $108,832 in Leadership Stabilization Fund Income.

Total expenses were $483,142. Personnel costs accounted for $216,522 of the costs and the National Conference costs, $104,420. 

The investment portfolio reflected an unrealized LOSS of -$46,267 for the twelve months.  Total net loss, after the unrealized loss, was -$76,785.

Total equity as of September 30 was $420,829, of which $387,642 represented unrestricted funds. Restricted funds totaled $33,187.  During the fiscal year, the Jubilee, Pat Nidorf and Bequests funds were transferred from Restricted Net Assets to Unrestricted – Designated Funds, to more properly classify them as Board-controlled funds.  Prior year restricted funds were utilized in the fiscal year to offset the Leadership Academy, National Conference and Anti-Conversion expenses for a total of $35,366. In addition, Jubilee funds were used to offset the concert at the National Conference, for $3,000.

The organization had $184,730 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 $361,903, of which $312,232 is invested in high quality equities and bond funds. This portion of the investments is producing annual income of about $18,000 with a yield of 5.51% (exceeding our policy goal of a 3% return). The total annual rate of return on the equity/bond portfolio since inception (5 years) is 2.9% versus the policy goal of 5%. The portfolio suffered rather substantial unrealized losses in the past year; 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 is planned.  Alternate long-term funding must be secured to offset the loss of the LSF when the campaign is closed.

 

Nancy Missall

Treasurer

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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