finances

You have to spend money to make money - clichéd and so true. Fiscal Year 2018 was about capacity building, which required a signifcant frontend investment. Most notably we added three full-time positions. A deeper bench, while more expensive initially, has led to increased programmatic and administrative effectiveness and, in the long term, fnancial effciency.

Thanks to the addition of Associate Director of College Programs Chelsea Werner, BRYC served 83 Senior Fellows in FY18, compared to 51 the year prior. Director of Development and Communication Leigh Phillips assumed all donor management responsibilities, freeing Executive Director Lucas Spielfogel to focus on major gifts to ensure BRYC’s long-term fnancial future. Finally, Managing Director of Community Programs Joshua Howard launched our frst formal suite of post-high school supports while codifying BRYC’s “Community Model,” our best impression of a residential college system. Strategic investments in highly-qualifed staff, our most valuable resource, has born fruit evident in this annual report and which you will see in communication in the months and years to come!

BRYC significantly enhanced all facets of internal controls and reporting during FY18. Financial integrity was improved through increased staff specialization and board involvement in expense approval, and the reporting cycle was reduced from 40 to 15 days.

- Kevin Knobloch, Board Treasurer

38% Individual revenue $840,025 EXPENSES $920,338

*BRYCleveragedanadditional$200,000+inin-kindcontributions.

*BRYC’sForm990andannualfnancialreview/auditareavailableuponrequest.

20% Corporate

9% Occupancy

41% Foundation

1% Earned

19% Administrative

72% Program jamarcus 2018 persistence hbcu hustle madison legacy spelman community bea lsu stem first gen college fellows mentors

ULL alumni gates southern amanda four-years rhodes the howard five questbridge EMMA snapshots garrinecia integrity grinnell tyler brcc morehouse southeastern trailblazers full participants in society features