ANGELS FINANCIALS 2020 TO DATE
Remarks by the Angels Media Volunteer about Floyd County Angels Ministries Financial Statement Jan-Aug 2020. Angels is a non-profit 501c3 charitable organization.
As you can see in the accompanying Income Statement, Angels in the Attic has had a tough year to date in 2020, when compared year to date in 2019. Like a lot of organizations, Covid-19 virus has had a huge negative impact. Sales from stores is way down by nearly 48%. All the Angels Stores were closed for a few months, during which sales income of course was at or near zero. Angels used some reserves (with prudence) to keep Supported Programs and Projects somewhat less impacted, so it is down by about 20%. Click the documents below to expand them for better viewing.
Some volunteers could no longer devote as many hours, or in some cases come in at all due to pre-existing conditions, so Tuesdays were dropped from the days open schedule, which of course lowered sales, as well as lowered ongoing funding to Supported Programs.
Unfortunately, some expenses go on without much reduction, including major ones like utilities and insurance.
All we can do, is to get through all of this challenge, as best we can, under the direction of the volunteer Board of Directors, and with the tireless support of the many volunteers.
