Fisher-Nightingale Houses, Inc. Financial Status – 2019
In September 2020, the Fisher/Nightingale Houses, Inc. received the final evaluation of the 2019 financial reports audited by Flagel, Huber, Flagel & Co.
» Program expenses for 2019 were identified as $286,287 (or 83.88% of total expenses). The Better Business Bureau (BBB) standard is that the organization must obligate at least 65% of its expenses to the Program expense area.
» Fund-raising expenses for 2019 were identified as $16,139 (or 4.73% of total expenses) and Administrative expenses for 2019 were identified as $38,866 (or 11.39% of total expenses) for a total Administrative and Fund-raising expense of $55,005 (or 16.12% of total expenses). The BBB standard is that the organization must obligate no more than 35% of its expenses to Fund-raising and Administrative expense areas.
As a percentage of total income, Fund-raising and Administrative expenses were 5.49%.
Income for 2019 was identified as $1,002,093 (unrestricted). NOTE: $344,653 was unrealized gains on investments. Total operating expenses for 2019 were $341,292, reflecting a total gain in 2019 of $660,801 (ending net assets of the Fisher/Nightingale Houses, Inc. were $3,343,946).