2015 overview from the executive director
2015 was a great year of growth for Clifford Beers Housing! This will ensure that we are around for a long time to provide affordable homes for those most in need. One area of major growth was the transition of our administrative services from Mental Health America to CBH, including payroll, IT, health benefits, retirement and human resources. We also brought a full-time asset manager onto our staff.
Last year CBH also succeeded in our goal to diversify our revenue sources, which decreases our reliance on developer fees and ensures long-term sustainability. In 2015 developer fees equaled 36 per cent of our revenue, while grants and donations equaled 54 per cent. This exceeded our goal that at least 25 per cent of revenue come from sources other than developer fees. We also increased our financial reserves to approximately 7 months of operating expenses. Our total budget in 2015 was close to $1 million.
We are especially grateful for our individual donors and for generous grants from The Corporation for Supportive Housing, the Conrad N. Hilton Foundation, the California Community Foundation, the Local Initiatives Support Corporation, and Enterprise Community Partners that helped us achieve our diversification goals.
I would like to thank Eva Williams and Gabriele Hooks from the Corporation for Supportive Housing for their grant support. This grant focuses on internal organizational capacity, board development and implementing our next strategic plan.
This year, I am working with great anticipation for the continued evolution of CBH and our ability to serve the most vulnerable. To everyone who has and will partner with us on this journey of fostering hope – thank you. I deeply appreciate your trust in us.
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