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).
2020 Preliminary/Unaudited Financial Status
The preliminary/unaudited figures for 2020 indicate operational support income of $427,688.
For 2020, there were total expenses of $551,598. Therefore, there was a $123,910 operational support loss recognized by the Fisher/Nightingale Houses, Inc.
The organization regularly purchased items in support of the Fisher House guests such as Visa cards to purchase food for the guests, cable/internet/DirecTV and bottled water services to support the house operations. When the Fisher Houses are full, the FNHI also pays for overflow guests in Wright-Patt Billeting, the Hope Hotel and local hotels. The organization also proffered gifts directly to the U.S. Government for the operations of the Houses such as landscaping services at all three Fisher House locations, the purchase of a minivan for the Wright-Patt Fisher Houses to transport guests, personal protective equipment due to COVID-19 precautions, office furniture for the Wright-Patt Fisher House management and repairs to the Wright-Patt Fisher House playground. In addition, the organization donated $230,000 to the Fisher House Foundation to help cover one-half of the costs for repairs to Wright-Patt Fisher House I plus we paid to move and store furniture during the repair process.
Note: Final/audited 2020 figures will be provided and posted to our website once the formal audit is concluded in the Fall of 2021.