Tony Rice Center, Inc.
Fiscal Year
Fiscal Year Start
07/01/2023
Fiscal Year End
06/30/2024
Projected Revenue
$1,047,632.00
Projected Expenses
$1,013,222.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| tony rice center, inc. irs ltr |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $960,525.00 | $913,110.00 | $931,203.00 |
| Total Expenses | $835,035.00 | $862,704.00 | $825,807.00 |
| Revenue Less Expenses | $125,490.00 | $50,406.00 | $105,396.00 |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | $0.00 |
| Government - Federal | $0.00 | $0.00 | $89,637.00 |
| Government - State | $0.00 | $0.00 | $526,224.00 |
| Government - Local | $0.00 | $0.00 | $0.00 |
| Government - Unspecified | $733,561.00 | $705,046.00 | $0.00 |
| Contributions, Gifts, and Grants | $13,350.00 | $15,874.00 | $106,655.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $203,352.00 | $188,998.00 | $208,449.00 |
| Investment Income, Net of Losses | $822.00 | $304.00 | $238.00 |
| Membership Dues | $0.00 | $0.00 | $0.00 |
| Special Events | $5,040.00 | $2,888.00 | $0.00 |
| Revenue In-Kind | $0.00 | $0.00 | $0.00 |
| Other | $0.00 | $0.00 | $0.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $834,894.00 | $862,458.00 | $825,807.00 |
| Administration Expense | $0.00 | $246.00 | $0.00 |
| Fundraising Expense | $141.00 | $0.00 | $0.00 |
| Total Revenue/Total Expenses | 115% | 106% | 113% |
| Program Expense/Total Expenses | 100% | 100% | 100% |
| Fundraising Expense/Contributed Revenue | 0% | 0% | 0% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Government Grants $733,561.00 | Government Grants $705,046.00 | State Government Grants $526,224.00 |
| Second Highest Funding Source & Dollar Amount | Program Revenue $203,352.00 | Program Revenue $188,998.00 | Program Revenue $208,449.00 |
| Third Highest Funding Source & Dollar Amount | Contributions, Gifts, and Grants $13,350.00 | Contributions, Gifts, and Grants $15,874.00 | Contributions, Gifts, and Grants $106,655.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $1,604,278.00 | $1,480,154.00 | $1,429,273.00 |
| Current Assets | $613,844.00 | $556,587.00 | $506,390.00 |
| Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| Current Liabilities | $14,796.00 | $16,162.00 | $15,687.00 |
| Total Net Assets | $1,589,482.00 | $1,463,992.00 | $1,413,586.00 |
Endowment Info
Do you have an endowment?
No
Capital Campaign Info
Are you currently in a Capital Campaign?
Yes
Do you anticipate a campaign in the next 5 years?
No
What is the campaign goal?
$1,900,000.00
What is the purpose of the capital campaign?
The purpose of this campaign is to expand current core programs and to generate monies for the construction of a new twenty-eight bed transitional living facility. The purpose of this facility is to provide a safe and structured living environment for those completing the initial treatment component of this program and want to become productive members of society by expanding their personal recovery efforts. This facility will also allow for the opportunity to assist more Bedford County residents and surrounding communities with the opportunity for housing to those who struggle with Co-Occurring Mental Health Disorders.
Campaign Start
June 2023
Campaign End
June 2026
Campaign Raised to Date Month
June
Campaign Raised to Date Year
2026
Campaign Raised to Date Amount
$0.00
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
| 2022/2023 offers may challenges for non profit organizations with reduced grant funding and private donations, uncertainty in health care reform, and increasing operating expenses making it necessary to examine budgets and spending. Cutting budgets is an excruciating process. Ensuring improvements, even if an organization's leaders are able to budget additional money for operational expenses, is also difficult. The key is to ensure that the resources are used wisely Any decisions about spending money in one area over another is going to be incredibly difficult and is going to hurt somewhere. But Tony Rice Center is prepared to embrace the notion that reducing costs without loss of quality is possible |
Foundation Staff Comments
| Financial figures are taken from the 990 and audit. Financial documents prepared by Joe Osterfeld, CPA. Comments provided by Nicole Rose 01/09/2024. |
