2022 Treasurer's Report
Dear JPB Friends,
At the conclusion of 2022, I am pleased to report that Jerusalem Peacebuilders remains in excellent financial condition, having met all budgeted revenue and expenses targets.
My congratulations go to our entire team of staff, donors, teachers, students, interns, and peacebuilders who have made 2022 a success. I reserve my highest of praise for our Executive Director, Fr. Nicholas Porter, for his leadership, budgeting, and fundraising efforts.
2022 Year-End Balance Sheet
Our cash position is strong with $291,000 cash in all bank accounts. This is $65,325 lower than December 31st of 2021 but most of this planned drop in cash was funded from our Second Decade Fund.
The $100,000 Second Decade Fund was created as a holding account for funds raised but not used during the COVID program shutdowns. Our 2022 budget called for us to use a portion of these funds toward 2022 program expansion as COVID restrictions eased. The size and timing of these transfers was left to the discretion of the Executive Director and the Treasurer with board notification. Acting with board approval in 2022, we transferred $71,566 from the Second Decade Fund as “loans to the Operating Account.” At year end, we returned $16,934.56 to the Second Decade Fund with the unreturned portion applied toward the shortfall created by planned 2022 program expansion. This transfer will leave the Second Decade Fund with a balance of $50,221 and the Operating fund with a balance of approximately $89,000.
A loan of $73,634 to our affiliate JPB Leadership Development (JPBLD) in Jerusalem was paid down to a mere $1,676.53 due as of December 31st 2022. This loan to JPBLD covered cash flow challenges created when we prepaid the airfare for our Summer Institutes.
The Stuart and Angela Kensinger Scholarship Fund for girls has a balance of $88,477, providing $13,640 of needed scholarships toward our 2022 summer institutes. I remember with joy these co-founding board members, and I am always grateful for their continued role and place in our community.
2022 Statement of Activities
The 2022 Summary Statement of Activities demonstrates how well we hit all targets. Total income of $767,148 was right on budget. General and administration expenses were $32,000 below budget! Program activities were $16,059 over a budget of $669,041 or 102% of target. These are impressive numbers, showing the great attention given the planning, budgeting, and operational processes.
The four Summer Youth Institutes were over budget by $46,559 and the EXCEL Teacher-Training Institutes were under budget by $48,769. The differences can be explained by rising staff, food, and program expenses at the four Summer Youth Institutes due to world-wide inflation and by a slower than planned expansion of the EXCEL Teacher-Training Institutes.
I am very pleased with JPB 2022 and look forward to an even stronger 2023. Special thanks go to JPB book-keeper, Bonnie Rodriguez. Closely coordinated teamwork has insured our ability to provide accurate, up-to-date financial systems. It is a joy and an honor to serve as the JPB Treasurer.
Bruce A. Barrett
Jerusalem Peacebuilders, Inc.