MSP Treasurer Tamia Bible
One of Morgan-Scott Project’s primary goals has been to reduce overhead, or the cost to operate the organization. By reducing operating expenses, more money is available for charitable programs. We are very pleased to report that since the end of 2007 an additional 12 cents of every dollar is going to support our mission. At the end of 2007, 37 cents of every dollar had to be spent on overhead, leaving 63 cents for charitable programs. Now only 25 cents of every dollar has to be spent on operating overhead, and 75 cents of every dollar is going to our mission of helping the needy of Morgan and Scott counties in Tennessee.
Ultimately, our goal is to cover overhead with the proceeds of our thrift store in Deer Lodge, TN. This would enable us to apply 100% of every donated dollar to mission programs. Currently, the thrift store covers approximately one-third of operating overhead. Many improvements have been made to the store in the past year which we hope will contribute to increased sales and cover more overhead. However, we want to emphasize that prices are still kept low because the store is part of our ministry to those needing clothing and household goods.
The Project completed the 3rd quarter of 2009 with total receipts of approximately $110,000 and total expenditures (both program and overhead) of $127,000, for a negative change in assets (loss) of approximately $17,000. Although receipts have not kept up with expenditures at this point, we are hopeful that 4th quarter contributions will make up the difference as has happened in past years.
We are grateful to all who have contributed items for the thrift store, time, and money so far this year. You are making a difference.
Article by Tamia Bible
