I congratulate you for taking the time to assess the finances and operations of United Way of Central New York. Donors are wise to investigate the management of organizations they seek to support, along with their missions and programs. As Board Chair, professional CPA, and long-time donor, I can offer a few insights into the operations of United Way of Central New York.
OUR UNIQUE SERVICE TO DONORS
United Way provides a service to donors that is quite different from most charities. We invest their donor gifts in the finest programs at well-run agencies, programs that have a proven track record of achieving results. United Way brings together donors who truly want to create change, with the agencies and programs that are capable of effecting the change our community needs.
THE COMMUNITY LEADS UNITED WAY
We are a community-led organization governed by an all-volunteer Board of Directors and operated by a small but highly skilled professional staff. The volunteer structure of United Way is very extensive, helping to keep overhead costs low.
FISCAL OVERSIGHT
Continual, careful review of financial operations is essential to sound fiscal management. United Way has multiple levels of review to ensure proper oversight.
TRANSPARENCY
One way we ensure donor trust is by being transparent and accessible. On this website, we provide a financial statement from our last fiscal year, a description of our overhead, and links to our most recent audit and 990 tax return.
OVERHEAD
We take pride that 90 cents of every dollar given to United Way of Central New York goes directly to fund programs and services. Our overhead is well below the national average and covers important expenses including rent, utilities, salaries, and technology.
I personally support United Way because I know my dollars will be used where they’re needed most, to do the most good, and to impact the most lives. I’m proud to be part of a system that works. I invite you to join me by becoming a donor, or increasing your level of support, and helping our community reach its full potential.
Gail Kinsella is also the author of the column “Accountability” that appears regularly in the CNY Business Journal.
Financial Statement
As of June 30, 2012
ASSETS
Cash
$551,875
Receivables
$3,948,777
Pre-paid Expenses & Other Assets
$16,384
Investments
$4,712,712
Property & Equipment
Less Accumulated Depreciation
$21,895
-----------------
Total Assets
$9,251,643
LIABILITIES AND NET ASSETS
Accounts Payable and Accrued Expenses
$130,471
Donor Designations Payable
$2,014,664
Undesignated Allocations Payable
$3,816,249
Note Payable to NYS
$98,375
Deferred Revenue
$193,686
-----------------
Total Liabilities
$6,253,445
NET ASSETS
Unrestricted Net Assets
$186,797
Temporarily Restricted Net Assets
$2,748,939
Permanently Restricted Assets
$62,462
-----------------
Total Net Assets
$2,998,198
-----------------
Total Liabilities and Net Assets
$9,251,643
Questions We openly provide donors with information about our finances and how their donations are used. We welcome your questions. Please call 315-428-2211 and we will direct you to the staff person who can best answer your questions.
COPYRIGHT 2012, UNITED WAY OF CENTRAL NEW YORK
518 James St., P.O. Box 2129, Syracuse, NY 13220 :: Phone: 315-428-2211 :: Fax: 315-428-2227 :: Contact Us
