Orange County NC Website
Browse       Search
DocuSign Envelope ID:7892AA9B-8D55-444D-ACF5-4C871E67EC75 <br /> What amount are 5000 <br /> you requesting? <br /> If granted, how will VOICES will use any awarded funds to support the salaries of our <br /> you use the funds? Director, Accompanist, and the student technician who will work on <br /> the editing of music files. <br /> Have you received No. Our "employees" are independent contractors. Therefore, we did <br /> or applied for any not qualify for salary support via the PPP loans created by the <br /> other emergency CARES Act. <br /> funding, either <br /> through the CARES <br /> Act, NEA, or any <br /> other emergency <br /> relief fund? Please <br /> explain. <br /> Does your VOICES operating budgets typically average $80,000 +/- 7,000. As a <br /> organization have mature organization, our fiscal goals are to begin each season with <br /> cash reserves? If so, about six months of operating funds (—$40,000) and to grow our <br /> please explain your limited endowment incrementally to at least $100,000 to ensure <br /> decision to use or financial stability. As of 8/1/2020 (the start of our FY21) VOICES' <br /> not use these unrestricted operating funds were only $20,682 with half the usual <br /> reserves as a result membership registered (as anticipated) in the attached budget). Of <br /> of COVID-related the $62,749 in semi-restricted endowment funds the Board, in 1/2020, <br /> losses. had committed $5,000 for a new choral commission for our 40th <br /> anniversary celebration in 2021. An additional $5,000 was to be paid <br /> to the composer from this fiscal year's operating receipts. VOICES <br /> will use those hard-earned endowment funds, beyond the <br /> composer's contract only in the event that other sources of income <br /> fail this year. For example, membership numbers impact dues <br /> income, member donations, and sales of products (fund raisers). The <br /> limitation to hold only virtual "concerts' on our YouTube channel <br /> means that ticket sales will not occur. Normally $24,000 annually, this <br /> year's budget projects $7,000 from voluntary donations from <br /> listeners. The lack of in-person concerts means that no program will <br /> be printed, thus, no advertising revenue will be realized <br /> (approximately $4,000). <br /> The FY21 Approved Budget, appended below, has been cut to <br /> $53,681 in expenses, with perhaps only $1500 in flexible <br /> expenditures. If income does not meet the assumptions on which <br /> this budget is built, VOICES stands to lose much of its endowment <br /> funds. <br /> Please upload your organization's most recent Form 990 or most recent year-end financial <br /> statement. <br /> Budget_Illustration_2020_0930.docx <br /> How else may we You are doing about all one could expect and it is appreciated. <br /> help you right now? <br />