Message from the CFO
I would like to take a moment to introduce myself as the newly hired Vice President and Chief Financial Officer of the Central New York Community Foundation. Having worked for many years in the nonprofit service provider sector, I experienced first-hand the generosity and impact that the Community Foundation has on the communities in which we live. I am excited to work with our board of directors, staff, investment consultant and numerous advisors as we continue to meet the needs of our constituents, steward our funds and strive to improve efficiencies while maintaining sound business practices and internal controls.
We are proud to report that our asset balance was $192,576,717 as of March 31, 2016, representing the highest value in the Community Foundation’s history. Despite our asset balance doubling over the past six years, the operating expenses of the Community Foundation increased a modest 20 percent over the same time period. With record breaking years in both assets contributed and grants awarded, our impact in the community continues to grow stronger.
I welcome you to reach out to us and look forward to working with you for years to come.
Kimberly P. Sadowski, CPAVice President & Chief Financial Officer
The Community Foundation’s audit is conducted by The Bonadio Group. The completed consolidated financial statements, with accompanying footnotes, as well as Form 990, are available for inspection at the Community Foundation office and our Financial Information page. Graphs represent financial information for fiscal years ended March 31.
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