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.