Presenter: Matt Paolini

Matt presented a detailed overview of October's financial performance. Key highlights included:

Enrollment and Revenue Impact:

• Enrollment stands at 60, below the target of 70, impacting FTE-based revenue.
• Public revenue collection is at 15% (below the 17% target), with federal funds delayed.
• Private revenue is at 44%, meeting fundraising goals; however, donations lag at $1,000 against a $35,000 budget.

Expenditures and Sustainability Concerns:

• Spending rate aligns with budget at 14% of the fiscal year.
• Significant expenses include salaries ($163,592 of a $1,020,133 budget) and facilities costs at 17.9%.
• Cash position remains strong with 97 days cash on hand, but long-term sustainability remains a challenge due to low enrollment.

Grants and Fundraising:

• Grants and other sources are at 51% of the annual target, reflecting a mix of early payments and projections aligning with the budget.
• Discussion emphasized the need for clarity on specific grant assumptions in the budget to track true overages or shortfalls.

Action Items:

• Matt to explore additional metrics or tracking systems for clearer alignment of grant and revenue expectations with budget forecasts.
• Steven and Adrienne to prioritize applying for local grants, including Cowlitz and Firstenberg.

Presenter: Adrienne Mason
 

Two fundraising proposals were discussed:
 

Pacific Northwest Fundraising (PNWF):

• Proposal for $35,000 annually, with a comprehensive multi-channel approach including grant writing, event management, and individual donor cultivation.
• Notable for local presence and alignment with RSV’s operational needs.

ResourceFull Consulting:

• Proposal for $30,000, focused on grant capacity building with clear deliverables for identifying and writing grant proposals totaling $500,000.
• Concerns raised about lack of focus on local engagement and individual donor development.

Committee Discussion Highlights:

• Steven emphasized the importance of a local partner with Pacific Northwest expertise for long-term relationships and grant accessibility.
• Adrienne noted the need to prioritize grant writing and individual donor cultivation while excluding non-essential services like social media and marketing.
• Tyrone advocated for a focus on maximizing ROI, specifically through grant acquisition, and inquired about flexibility in payment terms.

Action Items:

• Adrienne to renegotiate the PNWF proposal, prioritizing grant writing and donor cultivation within a $34,500 budget cap.
• Board to assess a 9-month contract structure with a performance review at the end of the school year.

• Matt to revise financial metrics reporting to better align with grant schedules and FTE-based revenue tracking.
• Adrienne to finalize negotiations with Pacific Northwest Fundraising and provide an updated scope of work for board approval.
• Steven to coordinate upcoming grant applications and ensure alignment with current fundraising efforts.