Sexual Assault Center
Fiscal Year
Fiscal Year Start
07/01/2024
Fiscal Year End
06/30/2025
Projected Revenue
$4,652,633.00
Projected Expenses
$5,057,091.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| Affirmation Letter | 2009 |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Revenue | $4,901,131.00 | $4,487,172.00 | |
| Total Expenses | $4,289,695.00 | $4,297,512.00 | |
| Revenue Less Expenses | ($-0.00) | $611,436.00 | $189,660.00 |
Revenue Sources
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | |
| Government - Federal | $0.00 | $0.00 | |
| Government - State | $0.00 | $0.00 | |
| Government - Local | $0.00 | $0.00 | |
| Government - Unspecified | $2,855,625.00 | $2,556,938.00 | |
| Contributions, Gifts, and Grants | $1,223,469.00 | $1,157,235.00 | |
| Indirect Public Support | $150,000.00 | $150,000.00 | |
| Earned Revenue | $347,873.00 | $307,136.00 | |
| Investment Income, Net of Losses | $-30,373.00 | $79,376.00 | |
| Membership Dues | $0.00 | $0.00 | |
| Special Events | $311,719.00 | $195,478.00 | |
| Revenue In-Kind | $42,818.00 | $41,006.00 | |
| Other | $0.00 | $0.00 |
Expense Allocation
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Program Expense | $3,481,033.00 | $3,602,980.00 | |
| Administration Expense | $434,644.00 | $459,289.00 | |
| Fundraising Expense | $374,018.00 | $235,243.00 | |
| Total Revenue/Total Expenses | 114% | 104% | |
| Program Expense/Total Expenses | 81% | 84% | |
| Fundraising Expense/Contributed Revenue | 9% | 5% |
Top Funding Sources
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | $0.00 | Government Grants $2,855,625.00 | Government Grants $2,556,938.00 |
| Second Highest Funding Source & Dollar Amount | $0.00 | Contributions, Gifts, and Grants $1,223,469.00 | Contributions, Gifts, and Grants $1,157,235.00 |
| Third Highest Funding Source & Dollar Amount | $0.00 | Program Revenue $347,873.00 | Program Revenue $307,136.00 |
Assets and Liabilities
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $7,942,166.00 | $7,204,621.00 | |
| Current Assets | $2,554,739.00 | $2,022,982.00 | |
| Long-Term Liabilities | $0.00 | $0.00 | |
| Current Liabilities | $179,881.00 | $283,268.00 | |
| Total Net Assets | $7,762,285.00 | $6,921,353.00 |
Endowment Info
Do you have an endowment?
Yes
What is the value of the endowment?
$2,846,070.17
What is the spending policy for your endowment?
Percentage
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
December
Permit Expiration Year
2024
Solicitations Permit
Form 990s
Audit Documents
CEO/Executive Director/Board Comments
| The Sexual Assault Center continues to be very strong and stable financially. Despite canceling a major fundraiser last year, we still managed to end the most recent fiscal year with income over expenses. This was a primary goal in our current strategic plan, and we successful achieved it, as well as balancing our budget moving into this new fiscal year. We have a healthy endowment that continues to perform well, and approximately 3 months of cash in reserves. We have been fortunate to receive several COVID-related grants this past year that have enabled us to pivot to remote operations without skipping a beat and create a safe environment for staff and clients who are in the building. We had a capital campaign in 2016 to renovate our building, that we own in full, to build the SAFE Clinic and add 9 new offices to make space for our growing staff. Pledges will continue to be paid through the end of next fiscal year, and we fully expect to receive all pledged donations. When we embarked on the capital campaign, we wanted to raise enough money to build the SAFE Clinic and renovate the building ($1.5 million), and also raise an additional $1 million to set aside for continued operations of the Clinic. At that time, we anticipated the additional $1 million would last 5-8 years. We have since learned that it costs more to operate the clinic than originally anticipated, and the volume of clients is nearly twice as high as expected, also increasing expenses. Therefore, the capital campaign funds will be exhausted in another 2-3 years. To adjust to the increased expenses in operating a clinic, we have successfully and progressively begun increasing our fundraising goals and efforts, and we are expanding our search and network of grant opportunities. We have also been the fortunate recipients of new funding from Tennessee's Office of Criminal Justice Programs. This funding has allowed us to create the Statewide Hotline, expand our training team, and support much of our clinical and advocacy work. We continue to have a small fee-for-service model with partner organizations and through client insurance or sliding scale self-pay revenue (less than 5% of our overall budget). We are extremely grateful for the financial support and contributions of individual friends, donors, foundations and grantors. Without these contributions, we would not be able to operate. Because of these contributions, we are able to provide unique, individualized and specialized care to every person who comes to SAC. Continued fundraising and development is more important now than ever before, because of the anticipated surge in demand for our services as the City continues to reopen. Despite our significant growth in recent years, we still maintain a wait list of over 60 individuals waiting for an individual therapist. We are actively working to adapt our treatment and service delivery model to decrease wait time. Our agency has doubled in staff size and budget in under 4 years, yet the demand still grows. For this reason, we must continue to not only secure funding for direct client care, but also prevention, training and outreach services so that we can ultimately prevent future incidents of sexual violence and future need for our services. |
Foundation Staff Comments
| Financial figures taken from 990. Foundation and corporate grants may be included in Contributions, Gifts, and Grants sum, as these amounts are not separated in Form 990. Financial documents prepared by Puryear & Noonan, CPAS. Comments provided by Hayley Sulfridge 3/15/24. *The endowment is housed at The Community Foundation of Middle Tennessee. |
