At its March 10 meeting, the Capitol Hill Village’s Board of Directors officially accepted and approved the completed fiscal year 2014 audit report. I am pleased to share with our members, donors, volunteers, and other friends that CHV received a “clean audit” for the second year in a row.
The audit, by Thomas Jenkins & Company, reveals an organization that, despite its relative youth and size, is on firm financial ground and evidences sound stewardship by its administrative staff, the finance committee, and its Board of Directors. Here are some highlights of the audit and of recent operations:
• Even with infrastructure investments, some increase in payroll, and significant enhancement of organizational insurance coverage, CHV closed Fiscal Year 2014 (October 1, 2013, to September 30, 2014) with an excess of $45,000 in revenue over expenses, very much on par with FY 2013 results.
• Again, somewhat remarkably for a not-for-profit of its size, at the close of FY 2014, CHV had more than $443,000 in net assets, split almost evenly between the Capitol Hill Village Endowment Trust and the “regular” operating and reserve accounts. Stated in other terms, CHV had approximately eight months of working capital, exclusive of funds in the endowment. This situation provides comforting assurance that CHV could continue to meet its members’ needs, even in the face of some potential future decline in membership and philanthropic revenue.
The Capitol Hill Village CFC number is 55474
CHV is proud to have been selected for the 2011-2012 Catalog for Philanthropy
The Capitol Hill Village United Way number is 8066
CHV Partners with RESULTS the GYM.
Starting October 1, CHV members (subject to validation)
will receive a 25 percent discount on
Results membership fees.
(Click here for more info)
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