MSP Treasurer Tamia Bible
The Morgan Scott Project completed the first quarter of 2010 with total receipts of $33,000 and total expenditures of $47,000. (All numbers are rounded.) The majority of this loss, or negative change in net assets, is due to a drop in contributed support.
Total expenditures are actually almost the same as last year, $47,000 vs. $46,000. In mission-related programs, we spent a total of $29,000, $12,000 in emergency aid, $9,000 in the New Light Educational Support Program, and another $8,000 in food boxes, garden supplies for the Good Earth Garden program, and assistance to the Scott County Homeless Shelter. Overhead, or the expense of running the Morgan Scott Project, was $18,000 and was on budget as of the end of the first quarter.
We are very concerned about the drop in donations. The Project is closely monitoring overhead and cutting expenses wherever possible. However, we fear that soon we may have to begin cutting services to those who desperately need our help. Almost all of our funding comes from donations from churches and individuals. We know that all of us are facing problems in this economy, but we hope that all who are able will consider making a small donation. Your donations, be they money, time, or items for our thrift store, do make a difference.
Article by MSP Treasurer Tamia Bible
