FY
2004 Treasurer’s Report
In spite of challenging
political and economic factors, LSS ends fiscal year 2004 with a positive
change in net assets of $794,000. Decreased funding for vulnerable people
at the federal, state and local levels forced LSS to temporarily and, in
some cases, permanently, close certain programs across the state. In spite
of funding cuts, LSS was very successful in obtaining funding for several
large, new services in both the metro area and in outstate regions.
Likewise, strong public support, coupled with proactive management,
permitted LSS to continue to serve families, seniors and adults with
disabilities across the state of Minnesota.
Charitable support of nearly
$9 million during fiscal year 2004 allowed LSS to serve nearly 100,000
people in nearly 300 communities, including service to each of Minnesota’s
87 counties. Charitable support from individuals and congregations allows
LSS to leverage its federal, state and local funding. Charitable support
also helped LSS begin a major renovation at Vasa Children’s in
anticipation of its 140th anniversary in the summer of 2005, and to reopen
the Safe House in St. Paul. LSS seeks to maximize its resources to serve
children, families, seniors and developmentally disabled adults in
Minnesota by spending over 89 cents of every dollar directly on those
individuals we support.
Despite troubling public
policy and decreasing governmental support for individuals most in need in
our communities, LSS is positioned well to not only maintain but also
expand services within Minnesota, while continuing to provide the best
quality of service to people in need throughout the state. We are always
seeking opportunities to expand into new service areas while enhancing
existing programs. We appreciate the financial support of individuals and
congregations across Minnesota. Your gifts of time, talent and treasure
are both appreciated and invaluable to LSS’ continued ability to “ ...
express the love of Christ for all people through acts of service.”
