Treasurer’s report by Tom Saunders, SPiN Treasurer
The Board of Directors of SPiN Cafe are proud to say that we have a very strong balance sheet and have increased our budget from approximately $100,000 in 2021 to over $250,000 in 2022 which has allowed us to provide services to our guests that surpass our pre-pandemic levels.
This increase in services — we now open our day center 11 hours M-F, serve lunches on weekends, and employ an Executive Director and other paid staff, all while facing inflation in costs of serving our guests — has challenged us to find new financial resources. To date, we have met this financial challenge as a result of individual donations and public grants made available from the America Rescue Plan (ARPA). Our service levels today are also a result of great cooperation between SPiN and Island County Human Services as well as many other nonprofit local organizations. We are pleased with the direction we are heading and the support we currently have in our community.
We greatly appreciate our local donors and we continue to need your support more than ever.
Over the past two years there has been a large increase in Grants received but a reduction in the amount of individual donations. Forecasting ahead for the next 18 months, we are concerned that public grant income will decrease with less funds available. In fact, the ARPA funding, which allowed us to restart our dinner program early this year, is scheduled to expire at the end of the year with no replacement income source in sight. With inflation affecting all of us, we run the risk that individual donations may also decrease. In 2022, we have also seen a decrease in private grants awarded.
If this “perfect storm” occurs– a decrease in all major sources of funding — SPiN Cafe will not be able to maintain current service levels.
SPiN Executive Director Michele Chapman estimates that, with the expiration of the ARPA grant on January 1, we will need to find $4,000-5,000 per month in new sources of funding.
We need each of you for financial support and in volunteering your time. If you are a current donor, thank you and if you aren’t donating today, please learn more about SPiN Cafe and our mission. After you hear our message and see us in action, please consider donating to this great cause.
Here is more detail on trends in our sources of revenue:
Much of our public grant income (in green) expires at the end of 2022.
Grants
So far this year we have received grants from these fabulous private sources, totaling $32,900:
Puget Sound Energy, Island Thrift, The Norcliff Foundation, Quil Ceda Village, and 100+ Whidbey Women
In 2022, we have received publicly-funded grant assistance — nearly $60,000 year-to-date — from Island County Human Services for some salary costs, supplies, guest services, and showers. That total includes the federal ARPA funds mentioned earlier which expires at the end of the year. We were recently awarded up to $12,000 from WSDA for the period from July 1, 2022 to June 30, 2023 which is restricted to food costs.
We have received $56,215 year-to-date from individual and business donations, and special events. We are always humbled and grateful for the ongoing support from members of our local community.
SPiN Cafe has a rich history in Oak Harbor, a legacy of community coming together, both donors and volunteers, to surround our most vulnerable citizens with support and a little dignity. Please continue to support our mission. Thank you!
