Financials & Documentation
Financial Highlights
Below you will find an overview of our financial activities for the fiscal year ended June 30, 2024. This information is designed to focus on current year activities and changes year-over-year. This overview should be read in conjunction with the financial statements below, as well as our audited financial statements.
Overall, for fiscal year 2024 (July 1, 2023, to June 30, 2024), United Way of Central Iowa (UWCI) had a strategic decrease in net assets - prior to other activity - of $550,514. The year-over-year change reflects an improvement of $1,417,200; the related drivers are listed below.
Revenue:
- Net Campaign Contributions revenue increased by $0.80M, primarily due to overall increases in corporate and individual giving, as well as the receipt of a one-time campaign gift.
- Grants, Sponsorships, and Other Non-Campaign Contribution revenue increased by $0.59M, primarily due to the addition of new grants.
- Investment Income increased by $0.27M due to better market performance than prior year.
- Other Revenue decreased by $0.91M primarily because of the one-time Employee Retention Tax credit UWCI received in FY23. The credit was not renewed in FY24.
- Total FY24 revenue of $26.22M reflects a $0.75M increase vs prior year.
Expense:
- Community Investments and Services expenses decreased by $0.65M primarily due to delays on grant expenditures.
- Donor-directed contributions increased by $0.09M, consistent with an increase in total campaign contributions above.
- Administration and Fundraising expenses decreased by $0.10M owing to costs savings from open staff positions.
- Total FY24 expenses of $26.78M reflect a $0.67M decrease vs prior year.
For additional information regarding UWCI’s financials, please see the link to our audited financial statements below.
Financials
Statement of Activities
| Revenues | Fiscal Year Ending June 30, 2024 | Fiscal Year Ending June 30, 2023* |
|---|---|---|
| Campaign Contributions - gross | $23,181,211 | $22,290,219 |
| Uncollectible Contributions Allowance | (664,156) | (572,732) |
| Contributions - net** | 22,517,055 | 21,717,487 |
| Grants, sponsorships, & other non-campaign contributions | 3,040,128 | 2,451,279 |
| Investment Income | 540,116 | 273,920 |
| Other | 130,724 | 1,036,990 |
| Total Revenue | 26,228,023 | $25,479,676 |
| Expenses | Fiscal Year Ending June 30, 2024* | Fiscal Year Ending June 30, 2023* |
|---|---|---|
| Community Investments and Services | $18,150,604 | $18,803,702 |
| Donor-Directed Contributions** | 5,064,544 | 4,976,058 |
| Administration and Fundraising | 3,563,389 | 3,667,630 |
| Total Expenses | $26,778,537 | $27,447,390 |
| Change in Net Assets before Other Activity | (550,514) | (1,967,714) |
| Increase (Decrease) Restricted Grant, Sponsorships, & Other Non-Campaign Contributions | (361,633) | 2,260,283 |
| Increase/(Decrease) Endowment balance*** | 1,074,134 | 498,051 |
| Change in Net Assets after Other Activity | $161,987 | $790,620 |
* June 30, 2024 Financial Audit
* June 30, 2024 IRS Form 990
** For audited financial reporting purposes donor-directed contributions are not included in expenses but are charged against contributions.
*** In audited financial reports new endowment contributions are a component of Grants, Sponsorships, and Other Non-Campaign Contributions. The total change in beneficial interest is a separate line in the revenue section of the Statement of Activities.
Statement of Financial Position
| Assets | Fiscal Year Ending June 30, 2024* | Fiscal Year Ending June 30, 2023* |
|---|---|---|
| Cash and Investments | $12,381,738 | $13,372,037 |
| Contributions Receivable | 6,167,826 | 5,007,789 |
| Other Receivables | 3,352,399 | 3,936,705 |
| Land, Buildings and Equipment | 2,150,290 | 2,171,299 |
| Other Assets | 202,101 | 265,135 |
| Endowments | 14,311,522 | 13,237,388 |
| Total Assets | $38,565,876 | $37,990,353 |
| Liabilities | Fiscal Year Ending June 30, 2024* | Fiscal Year Ending June 30, 2023* |
|---|---|---|
| Payables to Agencies | $962,082 | $759,728 |
| Other Payables | 1,914,914 | 1,692,110 |
| Refundable Advances | 454,040 | 465,662 |
| Total Liabilities | $3,331,036 | $2,917,500 |
| Net Assets | Fiscal Year Ending June 30, 2024* | Fiscal Year Ending June 30, 2023* |
|---|---|---|
| Unrestricted - designated by governing board | ||
| - Land, building and Equipment | $2,150,290 | $2,171,299 |
| - Endowment funds | 9,993,748 | 9,243,060 |
| - United to Thrive Transition Funding | - | 343,700 |
| Unrestricted after designations | 11,406,515 | 12,642,267 |
| Total Unrestricted | $23,530,553 | $24,400,326 |
| Temporarily Restricted | 8,062,740 | 7,050,980 |
| Permanently Restricted | 3,641,547 | 3,621,547 |
| Total Net Assets | $35,234,840 | $35,072,853 |
| Total Liabilities and Net Assets | $38,565,876 | $37,990,353 |
* June 30, 2024 Financial Audit
* June 30, 2024 I.R.S. Form 990
** To provide financial stability for the organization, the governing board established a guideline range for unrestricted net assets after designation. The range is based on three to six months of budgeted program and operating expenses for the next fiscal year. For 2023 the range was approximately $5,761,000 to $11,522,000. For 2024 the range was approximately $5,792,000 to $11,584,000.