Financial Services

from Spring 2020 Board Report Full

Young Life Foundation

Financial Services Scott Brill, Chief Financial Officer

From a financial standpoint, growth is easy to capture in a chart. The exciting thing for me is how these charts paint a picture through numbers of the growth we have been consistently experiencing across Young Life. While we are not growing as fast as we planned and prayed for this year, we should celebrate the growth for the five months ending February 29, 2020:

Missionwide financial highlights include:

Operating Contributions of $139.9 million are $2.0 million and 1.4% higher than last year.

Capital Contributions of $22.1 million have been received with the biggest gifts going to the Texas Camp, Washington Family Ranch,

Castaway and Timber Wolf Lake. 6.9% of areas were in deficit, which is better than last year’s 7.7%. Operating segment highlights include:

U.S. Field has a surplus of $23.2 million which is on budget and normal for this time of year since it will be used throughout the school year and summer camping months. Results reflect revenue growth of $6.0 million (+5.1%) compared to spending growth of $4.7 million (+4.9%). Contributions are up $7.3 million (+6.9%). This growth includes the 60 net new areas that we’ve added since February of last year.

The International Field surplus of $1.1 million reflected a revenue increase of $99,000 (+0.7%) and spending growth of $1.3 million (+11.4%). Contributions are up $22,000 (+0.2%) and are $1.6 million below budget. We have added 27 net new areas internationally.

Camping is in deficit by $9.7 million which is also normal for this time of year. The deficit is larger than budget by $888,000 and last year by $1.3 million. We expect that Camping will end the year in a surplus unless the number of campers declines due to the coronavirus or other unexpected reasons.

MLSS is running a surplus of $3.7 million as expected at this time of the year due to the timing of service charge collections. The surplus is larger than planned due to lower spending on salaries and benefits and contributions being $1.4 million above budget.

The Financial Services team played a big role for YL2020 both on the core planning team and with registration and per diem card management at the event. The event was a financial success that drew 5,356 attendees. Thanks to savings on travel, meals, speakers, gifts and free time we spent $1.5 million less than budget. In addition, $50,000 of unspent per diem card balances was transferred to the Emergency Assistance Fund.

Legal and Administrative Services have also had a very busy first few months of the year. The team has been working feverishly to address the coronavirus (COVID-19) outbreak with policy updates for travel and large group gatherings as well as developing and implementing contingency plans for the entire mission. This was after the fiscal year began with similar efforts to support the Hong Kong team during the government protests.