Westminster Home Connection
Fiscal Year
Fiscal Year Start
01/01/2023
Fiscal Year End
12/31/2023
Projected Revenue
$1,044,000.00
Projected Expenses
$1,044,000.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| IRS Letter of Determination |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Total Revenue | $1,238,434.00 | $1,110,681.00 | $984,758.00 |
| Total Expenses | $1,045,352.00 | $1,095,588.00 | $837,333.00 |
| Revenue Less Expenses | $193,082.00 | $15,093.00 | $147,425.00 |
Revenue Sources
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Foundation and Corporation Contributions | $380,001.00 | $374,452.00 | $294,950.00 |
| Government - Federal | $0.00 | $51,555.00 | $7,000.00 |
| Government - State | $161,783.00 | $151,486.00 | $219,278.00 |
| Government - Local | $92,612.00 | $89,428.00 | $41,173.00 |
| Government - Unspecified | $0.00 | $0.00 | $0.00 |
| Contributions, Gifts, and Grants | $534,354.00 | $388,520.00 | $359,935.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $0.00 | $0.00 | $0.00 |
| Investment Income, Net of Losses | $1,957.00 | $240.00 | $1,422.00 |
| Membership Dues | $0.00 | $0.00 | $0.00 |
| Special Events | $0.00 | $0.00 | $0.00 |
| Revenue In-Kind | $62,000.00 | $55,000.00 | $61,000.00 |
| Other | $5,727.00 | $0.00 | $0.00 |
Expense Allocation
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Program Expense | $852,445.00 | $947,905.00 | $721,224.00 |
| Administration Expense | $177,161.00 | $136,327.00 | $102,344.00 |
| Fundraising Expense | $15,746.00 | $11,356.00 | $13,765.00 |
| Total Revenue/Total Expenses | 118% | 101% | 118% |
| Program Expense/Total Expenses | 82% | 87% | 86% |
| Fundraising Expense/Contributed Revenue | 2% | 1% | 2% |
Top Funding Sources
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Contributions, Gifts, and Grants $534,354.00 | Contributions, Gifts, and Grants $388,520.00 | Contributions, Gifts and Grants $359,935.00 |
| Second Highest Funding Source & Dollar Amount | Foundations and Corporations $380,001.00 | Foundations and Corporations $374,452.00 | Foundations and Corporations $294,950.00 |
| Third Highest Funding Source & Dollar Amount | State Federal Grants $161,783.00 | State Government Grants $151,486.00 | State Government Grants $219,278.00 |
Assets and Liabilities
| Fiscal Year | 2022 | 2021 | 2020 |
|---|---|---|---|
| Total Assets | $1,285,854.00 | $1,022,092.00 | $1,049,100.00 |
| Current Assets | $1,044,328.00 | $984,914.00 | $879,752.00 |
| Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| Current Liabilities | $63,048.00 | $275,252.00 | $235,359.00 |
| Total Net Assets | $1,222,806.00 | $746,840.00 | $813,741.00 |
Endowment Info
Do you have an endowment?
No
Capital Campaign Info
Are you currently in a Capital Campaign?
No
Do you anticipate a campaign in the next 5 years?
No
Solicitation Permit Info
State Charitable Solicitations Permit
Yes
Permit Expiration Month
June
Permit Expiration Year
2024
Solicitations Permit
Form 990s
Audit Documents
CEO/Executive Director/Board Comments
| Westminster repairs and modifies homes, empowering older adults and persons with disabilities to age-in-place safely and with dignity. Our repairs preserve affordable housing, since older adults own much of the affordable housing stock and well-maintained homes are more likely to be preserved. A contribution to Westminster has a tremendous ROI, as total cost per home averages $3,000, an older adult ages-in-place, and a home is preserved in the affordable housing stock. How do we keep our costs so low? Our in-house construction staff makes most of the repairs and mobility modifications. Volunteers build wheelchair ramps, repair decks, and make other repairs. Volunteers help with newsletters, reports, and website updates. Board members do most fundraising. Westminster Presbyterian Church donates office and storage space. Westminster is financially stable, always planning several years into the future for programmatic and financial needs. On December 31, 2022 we had reserve funds equal to six months of operating expenses. |
Foundation Staff Comments
| Financial figures taken from Audited Financials. Audit was prepared by Mullins Clemmons & Mayes, PLLC. Revenue breakdown comes from Note 16. Comments provided by Nicole Rose 04/13/2023. |
