2018
FINANCIAL
HIGHLIGHTS
MICHAEL GADARIAN |CHIEF FINANCIAL OFFICER
2018 was not without its financial challenges, but we are
pleased about our growth and upward financial trends during
2018. With the support of our excellent staff and their focus on
customer service, membership continued to grow and attract
new members to The J’s various superior programing, and our
top-notch Sports, Wellness and Fitness Center. We continued
to grow our Early Childhood, Special Needs, Personal Training,
Sports and Wellness, and Arts and Culture programs. Under
new leadership, Camp, Children, Youth & Family Engagement
and Rentals also had profitable years.
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 have also continued to
provide our staff with the opportunity for Flexible Spending
Accounts and we continue to fund a 401k base contribution.
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
$142,675 in 2018 for scholarships, and other endowments
also provided funding for scholarships and programs. The J’s
scholarships and discounts in 2018 totaled over $1,040,000.
Scholarship needs grew in 2018 and continued to challenge
our available resources.
We are excited that at the end of 2018 the JCC created a fund
called the JCC Tax Credit Fund which is an Arizona State Tax
Credit Qualifying Charitable Organization. The Fund supports
scholarships for low income families at The J. Donors giving
towards the Fund receive a credit on their Arizona state tax
returns.
For more detailed information you can request a copy of our
2017 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.