[nancy-d]

I think it is important that fiscal and fundraising are consistent. We use Quickbooks and Exceed Further (not Salesforce) since they are compatible and donations are booked the same in both systems. We code the donation in our chart of accounts based on how it was solicited. So if it comes in an annual appeal envelope or the donor refers to the annual appeal, it is counted toward the annual appeal whether it is a check, donated on the website, or through a DAF. Our chart of accounts includes the various giving categories so events are tracked separately from annual mail appeals or special appeals that may only go to major donors. We often get DAF donations from our Board members and sometimes they are tied to a particular appeal and they are reflected as a donation to that specific appeal. Board members often solicit gifts on our behalf for their birthday or anniversary. We can track it for both fiscal and fundraising and tie it to that solicitation regardless of the method they use to make the donation (check, wire transfer, stock donation, website donation, etc.)

[nancy-d]

I am the CEO of a nonprofit with a large endowment and a much smaller Board designated reserve fund, We have a Board investment committee made up of active and retired investment experts that hire several money managers. The results of each of the managers are compared and inform how much money is given to each of the money managers going forward. The Board investment committee members meet regularly with the money managers and provide consistent oversight without micromanaging. The full Board votes on the investment strategy annually and the Board investment committee members implement it. Equities generally make up 60-70% of the portfolio. The endowment is invested for growth with a set 4.5% payout for operations based on a five year average.of the funds. Using a five year average smooths out fluctuations of the payout. The smaller reserves come primarily from bequests or end of the year surplus. The reserve funds are invested but easily liquidated in case of an emergency or urgent need. In 1984, the endowment was about $8 million. It is now about $80 million. It is a true endowment with the majority of the funds donor restricted to using only interest and dividends. A smaller portion of the endowment has donor instructions to use interest, dividends and capital gains. The reserve fund is unrestricted.

[nancy-d]

I am CEO of VISIONS/Services for the Blind and Visually Impaired. We serve people who are blind and their families at three center locations and in home and community training. Many of our offerings are also now virtual and in person including older adult center classes, work readiness training and youth services. Our budget is $12.5 million annually and we have over 100 staff (both part time and full time. We have used our reserves to cover Covid related costs that are not originally budgeted and were not covered by any other source. This included masks for all our staff and blind participants, talking thermometers, rolling bags for staff to use when doing home visits for training, computers and printers for use when working at home. We increased the office cleaning schedule .We have been mailing supplies to staff and the mailing costs are not covered by any other source. We also used our reserves for costs exacerbated by Covid. We increased the hourly rate for our lowest paid staff to a minimum $21 per hour at the time a new report was published by the Human Services Council on the $21 per hour “living wage’ for New York City. This definitely helped reduce turnover. We also used our reserves to pay an incentive to all staff that got vaccinated ($100 for proof of each Covid vaccination or booster) and we increased the reimbursement for mileage mid year when the federal government increased the mileage reimbursement rate. We provide an additional monetary incentive for staff that must drive their own vehicle for work purposes as long as the average cost of a gallon of gas in New York City is above $3.50. Some of the costs were initially covered by foundation grants that have now ended. Many of these costs are now incorporated into our most recent agency budget for the fiscal year starting October 1, 2022. we are continuing to require and provide masks for all staff and participants. We have been able to access some mask donations and recently received a donation from the city for Covid test kits that are more accessible for blind users however we need to mail them our which is an expense.

[nancy-d]

VISIONS revenue from NYS is dependent on providing a service that achieves a participant outcome. Anything that adds to or stabilizes our direct service and professional staff will actually bring in more revenue over time. We are fortunate to not have to worry about cash flow as long as we eventually can receive and recognize the revenue. Some expenses are just basically emergency spending because it is the right thing to do. Some of the expenses we can actually include in future budgets if we have the time to figure out how to do it. In true emergencies like the pandemic we have been able to attract foundation or donor support to replenish some if not all of the emergency spending. We did a deep dive into job descriptions when we were determining who could work remotely and who needed to work in person or be in the office. This process freed up some staff time that could be used for revenue generation and also enabled us to eliminate two very part time positions that were not productive. The reduction of the staff expense helps us sustain the additional, new expenses. Ultimately the Board approved slightly reducing our reserves because this is the “rainy” day.

[nancy-d]

We have used our cash reserves to increase the lowest paid staff to a minimum $21 per hour wage, consistent with a “living wage” for NYC and well above minimum wage. We have given staff that must drive their own cars for agency business, extra gas allowance since January 1, 2022 when gas prices began to rise. We gave every staff member that remained working with us during the pandemic an extra day’s pay as a thank you. We continue to supply K-95 masks for all staff and participants and talking thermometers to participants that needed them. We provide Uber or Lyft rides when staff feel insecure or unsafe taking the subway to see participants in their homes. We offered a 6th paid work day for any professional (exempt) staff that wanted to work the extra day. We offer payment for webinars, conferences and training for all staff that wanted it, especially related to mental health and well being for staff.. We gave annual raises and merit increases every year on October 1, 2020, 2021 and 2022. We added incentive pay for all staff that supervise an intern. Hosting interns is a great way for us to recruit potential new staff. We continue to provide computers, printers, laptops, scanners for staff that work full time or part time at home. We have invested in upgrading our building security where theft and assaults have increased and added bear proof garbage cans at our residential vocational rehabilitation center where for the first time since we bought the property in 1951, we have a black bear that has been sighted on the 37 acre campus. All these expenses were off budget/unbudgeted but approved by the Board as necessary.