Money Matters 2/1/2025
Dear Members and Friends,
Money Matters! Let’s Keep 2U’s Cupboards Stocked & Our Community Strong!
Click image to enlarge
We received 90.5% of budgeted pledges for the first 6 months of 2U’s fiscal year and if this rate continues, we will have a pledge shortfall of $29,770 for the year ending 6/30/2025. The next 6 months depend on the rest of us!
Please, please try to catch up on your pledge to help keep 2U a healthy community in these “interesting” times. If your circumstances have changed and you can no longer meet your commitment, please notify the office so we can plan accordingly. The support from all of our 140 pledging households is critical! Thank you so much for your generosity!
Good 6 Month Results (July – December, 2024)
Thanks to an excellent Fall Fest with our proceeds over budget by $13,655, our revenue is close to budget despite softness in pledges. Expenses are below budget and expected to pick up after January 1 for a number of reasons (heating expense, staff benefits, etc.). For the full year, our budget has a deficit of $17,291.
Per accounting standards, mortgage principal payments are excluded from net income calculations; however, it is still a cash expense.
Capital Campaign Update
Donations for the 6 months ending 12/31/24 were $17,225 and expenses were $232,277. Total donations are now up to $849,126 !! The remaining work to be done will cost approximately $282,000 so we will have to borrow in the range of $100,000 from our lender to complete the work. Please continue to pay your capital pledge! Thank you, Thank you, Thank you!
Respectfully submitted,
