You can find the last three years of annual reports on our Financial Page. Here are a few extracts. You’ll also find a direct link to the complete report as a PDF.
Leadership Letter
We can all agree that 2020 was a very difficult year for so many reasons. When we first decided to close our three facilities last year before it was mandated, we only knew that keeping our staff and our vulnerable client population safe and secure had to be our top priority.
Seeing how well our staff members adjusted to a new normal and how quickly they pivoted to offer new or modified services was heartwarming. Avenidas staff members worked diligently and remotely to continue to provide information and resources to help our community’s seniors, their families and caregivers.
As we enter the new year, we will continue to evaluate how best we can serve our community’s most frail population to the best of our abilities. Your continued belief in our staff and support for our programs is even more valuable now more than ever. You have our thanks.
Click the image above to download the PDF.
FY20 Highlights
- Community support was at an historic high, with contributions of nearly $2.6 million. We were fortunate to receive some major donations in response to the extraordinary circumstances caused by the COVID-19 pandemic, which allowed us to pivot and concentrate on our population’s emergency needs during the shelter-in-place order. We expanded our website to serve as a clearinghouse for resources and information people could turn to, and we deployed staff to carry out essential tasks for our home-bound, frail clients.
- Main funding streams, together making up 87% of the total revenue, are fees for service, fundraising and transfers from net assets. The latter is composed of the regular payout from the endowment and board authorized use of reserves.
- To eliminate the need for layoffs during the pandemic, we applied for and received PPP funds.
- Fees for service covered 23% of operating expenses, excluding depreciation expense, private donations covered 21% and transfers covered 24%.