Page 3 - 2020 Annual Report
P. 3
2020 Financials
2020 Financial Statement
In March 2020, COVID-19 was declared a global pandemic, which caused
disruption in the U.S. economy and resulted in the physical closure of the
Center and a pivot to virtual learning. The Center reopened the early
education building in June 2020 with limited enrollment and has continued
to increase classroom capacity as conditions permit. Madelaine Halmos
Academy continues with virtual and in-person elementary education options.
Total income increased $3.1 million largely due to $2.7 million received for
the Capital Campaign. The Center also received $.5 million from the CARES
Act’s Paycheck Protection Program. Program expenses increased $.1 million
as we expanded our elementary program. We continue to rank above most of
our peers with a four-star Charity Navigator rating because of our financial
results and commitment to accountability and transparency.
2020 Community Support & Revenue
2,000,000
$2,000,000
40.6%
1,500,000
$1,500,000
1,000,000
$1,000,000 20.7%
15.9%
12.6%
500,000
$500,000
8.5%
.9% .8%
$0
0
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2020 Expenses
. 9 0 %
Contributed Services & Materials
$36,810 (1%)
5 . 6 1 %
General & Administrative
%
$567,730 (13%) . 2 0 7
Fundraising
$667,317 (16%)
%
3 1 . 3
Program Services
$3,001,188 (70%)