As we head toward a very different Christmas, I send heartfelt wishes out to the universe that we are all able to find ways to stay connected, healthy and enjoying moments of happiness each day.
With this letter I am pleased to inform you that SEESA’s 2021 Budget has been posted on our website, along with some background information about key factors that went into its preparation.
Link to Budget
Link to Financial Notes
Like many other not-for-profit organizations right now, SEESA is experiencing challenging times. In 2021 this means that we will operate under a deficit budget with funds being transferred from our reserves, so that we can open the doors as planned in January.
Rest assured that all hands are on deck, working to ensure that we will have a future without running a deficit. Our new five-year Strategic Plan sets the stage for this transformation, as does the 2021 Budget.
What we know now
Following this year’s comprehensive financial review, it became evident that government funding was subsidizing a year-over-year $224,000 deficit associated with rising staffing costs, un-sustainable membership and program fees, and operating a facility without fully understanding the cost (heat, lights, insurance, etc.) for a total of $105,000 per year or $8,700 per month on average.)
All not-for-profit organizations including SEESA need to acknowledge the reality that funding from governments can no longer be assumed and that we need to move towards being self-sustaining. We believe strongly that government does have an important role to play in supporting seniors and we will continue advocating for this support. But this should not, in any way, relieve organizations such as ours of the responsibility to raise a significant portion of our own operating funds.
Board and staff are working hard to improve our organization’s infrastructure by building on the past while recognizing the financial realities that we, and all other not-for-profit organizations, must overcome in order to survive. This means that we will have to seek new sources of income on the one hand but be efficient with our expenses on the other.
The Board of Directors believes this is absolutely doable and that it is the right move for the organization at this time.
We will host Town Hall ZOOM sessions on December 17, 2020 at 9:00 am and again on December 22, 2020 at 1:00 pm to provide opportunity for discussion and questions, with regards to the year ahead. Your participation is important and encouraged.
On behalf of the Board of Directors thank you for your patience and understanding as we work toward making sure that SEESA continues to be an important and vital part of all our lives.
JudyLynn Archer, Acting President