William Way pays line of credit, increases working capital

    The William Way LGBT Community Center’s board held its public meeting July 24 at 1315 Spruce St.

    Board members in attendance were co-chair Jeff Sotland, Ted Greenberg, Eric Ashton, secretary Steve Brando, Rudy Flesher, Amber Hikes, Adam Hymans, Leon King, Moira Mulroney, Brad Richards, Tricia Dressel, Jocelyn Block, Laurie Ward, Michael Pomante and treasurer Anne Butchart.

    Co-chair Stephanie Gross was absent.

    The board also welcomed new board member Kathy McLean.

    Treasurer Butchart reported on the center’s finances, noting the facility paid off its line of credit, something she described as a “crowning achievement.”

    Butchart said the center did not make its grant goal for June but exceeded fundraising expectations for the month because of its Homecoming event on Pride weekend.

    The center reported a total income of $58,125.41 for June against a projected income of $81,505. The $23,379.59 shortfall in expected income was attributed to not receiving anticipated grants (due to timing and the application process) and individual giving not meeting expectations.

    For the year to date, the center’s income is $148,444 less than the anticipated $595,410.

    However, spending for the year is also less than anticipated. Actual spending for the fiscal year October 2011 to June 2012 is $516,544, less than the planned $571,321.

    Expenses for the center for June were reported at $56,538.51 and expected expenses were $61,083, a difference of $4,544.49, attributed to lower payroll taxes and worker’s compensation insurance.

    Executive director Chris Bartlett said the significant difference of the individual giving in the revenue comparison ($146,852 in 2012 vs. $329,690 in 2011) was due to last year’s spike caused by the Wilcox endowment. He also said the increase on personnel spending compared to last year ($352,804 in 2012 vs. $296,599 in 2011) was due to the center hiring two new staff members.

    The center’s cash surplus was reported at $76,193, a decrease of $40,226 from October 2011 when it was $116,419. This was attributed to the center paying off its line of credit.

    The center also reported it had 50.97 days of working capital on hand, significantly higher than the 1.05 days of working capital it had in 2011.

    Director of Center Services Candice Thompson reported that the center’s summer art exhibition, “Crawl Space: The Attic Experience,” had a great opening and the closing reception is scheduled for Aug. 4. The center’s next exhibition will be the Gender Reel Festival, an annual event featuring multimedia works celebrating gender non-conforming, gender variant/queer and transgender identities, Sept. 7-9.

    Thompson also reported the center is working on a proposal for an LGBT bookmobile and plans to test the program at a few undisclosed schools. Other programs under consideration include music programming at the center and a “church shopping.”

    Bartlett said the center’s Cornerstone memberships were up 15 percent from last year with 105 reported households compared to 91 during the same period in 2011. Household memberships for the year stand at 814, compared to the same period last year of 512, an increase of 59 percent.

    Bartlett also said half the tables for the Oct. 6 Indigo Ball have been sold and this year’s honorees will be Deb Francesco, Al Besse and Optimal Gym.

    Laurie Ward reported the center will have three board positions to fill in January, with two of the positions appointed and the remaining position elected. The nomination committee will meet in September.

    The next public board meeting is scheduled for 7 p.m. Nov. 27. For more information, visit www.waygay.org.

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