My View from Tent Hill
LAJF Board Update: Financial Information & Condition
Today's communication from the Board is focused on our financial condition (expenses, endowment, and annual donations).
We will use the following terms to facilitate the conversation around sustainability:
Definition of Sustainability (for CRS/LAJF):
Ability to fund expenses for CRS program and associated activities within the bounds of revenues and withdrawals (5.5% draw of the 3-year average value of endowment).
Definition of Sustainability Surplus or Gap (for CRS/LAJF):
The surplus or gap between our annual expenses and our annual income. The formula is: Surplus (or Gap) = (Revenue from fundraising + 5.5% net asset of endowment) - Expenses.
In 2013-2014 fiscal year we had:Read more...
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