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Board members -

Attached you’ll find the FY 19 budget. A few notes:

1. There are two tabs. The first is our operating budget, which is what you’re used to seeing. The second tab is just for Operation Safeguard, our partnership with Special Olympics. There’s a lot that needs to be fleshed out there, but I included it so you could see two things: first, that a portion of our staff salaries will be paid from the Operation Safeguard Budget (percentages of Patty, Claudine, Dan and my salary, plus potentially two add’l staff, depending on need). Second, I wanted to show that we will likely need to raise an add’l $1 million in 2019 for this project (in conjunction with Special Olympics, of course).

2. The $1.5m budget includes $200,000 raised in the second quarter. This is a goal of ours to have corporate sponsorship of the production of our internet safety and bullying video project. There is a $200,000 expense in the 3rd quarter for internet safety program development. If we don’t raise the money to fund the project, we won’t spend the money at all. If that’s the case, our revenue would drop by $200,000 and so our our expenses.

3. In FY 18, our monthly, recurring donations were lumped in with our Grassroots revenue. Since expanding this program is one of our 2019 goals, I split it out in to its own revenue stream.

4. A few other revenue notes: for the first time, the BBF will be an option of DE Tax returns as a non-profit individuals can direct a portion of their refund too (noted as Tax Check Off on the spreadsheet). Thank you Party for the work in Dover to get us this benefit. We’ll talk more about this at the Board meeting, but we also expect $75,000 in funding from Discover Bank for our work with their grantees in our Shield of Protection Initiative. While this is technically Program Underwriting, we thought it warranted its own revenue line item.

5. On the expenses side, there shouldn’t be any surprises. I tracked pretty closely to what we spent in FY 18, but made some increases to account for hiring of new staff, program expansion, and travel (we’re in 15 states now!).

6. At Fred’s suggestion, I added a column at the very end showing what the corresponding FY 18 revenue/expense was. Hopefully, this will help you see what I increased or decreased from FY 18 to FY 19.

Please take some time to review this budget and ask any questions you may have. We should have voted on this in December, so rather than wait until the end of January at our board meeting, please vote via email, and we will certify it at the meeting on the 31st. I would ask that you vote by Wednesday, January 16.

Thank you all!
Josh


Joshua Alcorn
302.477.2018 (office)
302.598.1885 (cell)
josh@beaubidenfoundation.org