In 2010, CEN’s income was $16,816.80, and total expenses were $14,425.45, resulting in a net gain of $2,391.35 for the year. Our income for 2010 decreased by 55% from the year before as a result of sharp reduction in program activities, and an increased emphasis on dedicating internal time and energies towards documenting the cCLEAR Pilot and laying the groundwork for future projects, as opposed to fundraising.
As has been the case in recent years, nearly all our revenue (98%) came from individual donations fundraising and events. A small portion of our income (2%) was generated by the commercialization of products made in the communities.
The completion of the cCLEAR Pilot Project led to a 46% reduction in CEN’s expenses for 2010. The net gain was applied towards reducing a no-interest loan to the organization from CEN’s founder and current Director, Bob Bortner. The balance of this loan was $42,061.27.
In 2010 our non-project expenses (fundraising plus administrative) were 40% of the total expenses, falling short of our goal of spending no more than 30% on such expenses. One key factor that contributed to this was the sharply-reduced program expenses due to the termination of our pilot project. This resulted in a much smaller base to spread out required operational costs such as maintaining our website hosting service, required licenses, the cost of sending our e-newsletter newsletter and depreciation expenses. In addition mileage expenses by our Director to meet with the board and staff in Seattle also increased significantly, due to our Director’s relocation from Seattle. The CEN board takes its responsibility for strong financial stewardship very seriously, and internal controls have been put into place to monitor expenses more closely, including more timely reporting and closer financial oversight by all members of the board. Also, as our project activities resume, we expect that these fixed costs will represent a smaller share of the overall expenses.