2017 Financial
Highlights
Michael Gadarian
Chief Financial Officer
2017 was not without its
financial challenges, but we are
pleased about our growth and
upward financial trends during
2017. Membership continued
to show success with an
increase of 50 total membership
units spurred by the renovated Sports, Wellness and
Fitness Center, strong membership campaigns, strong
programming and superior customer service. Our
completed renovations also helped grow our Early
Childhood, Special Needs and Personal Training and
other Sports and Wellness programs. Under new
leadership, Children, Youth & Family Engagement and
Rentals also had profitable years.
Due to an ongoing trend of profitable membership and
program revenue the J provided salary increments in
January of 2017. We have continued to provide our staff
with the opportunity for Flexible Spending Accounts
and we continue to fund a 401k base contribution.
While the J closely monitored and controlled most
expenses and also fully funded repair and replacement
to the level planned for the year, it experienced its
financial challenges through government mandated
expenses. The positive growth in membership and
program income was not enough to offset the increase
in the expenses
We are especially grateful to our donors, members,
volunteers and staff who are continuing to make
the J a great place to be. The Harry and Jeanette
Weinberg Endowment Fund provided $142,676 in
2017 for scholarships, and other endowments also
provided funding for scholarships and programs.
The J’s scholarships and discounts in 2017 totaled
over $995,000. Scholarship needs grew in 2017 and
continued to challenge our available resources.
For more detailed information you can request a copy
of our 2016 audited financial statements from the
accounting office. A copy of our 990 is available at
www.guidestar.org, or you can request that we provide
you with a copy.