Centro Latino de Chelsea has seventeen years of experience judiciously managing public and private financial resources and meeting the requirements of local, state and federal government regulations and policies. The agency has been especially successful in implementing development strategies that have strengthened the financial operations of the organization.
Centro’s funding base has been diversified by reducing reliance on large government contracts and increasing alternative sources of funding for each program. In each of the past six years, Centro has effectively reduced its debt service, improved financial ratios, and increased its net assets, thus building its capacity to strategically plan for the future.
Operating Budget for Fiscal Year 2009: $1,542,000
| Year | Gov't Contracts | % | Grants* | % | Tuitions | % | Contrib. | % | Other | % | Total |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2000 | $668,468 | 64.1% | $307,207 | 29.4% | $22,311 | 2.1% | $39,086 | 3.7% | $6,807 | 0.7% | $1,043,879 |
| 2001 | $760,616 | 65.4% | $268,323 | 23.0% | $74,329 | 6.4% | $29,043 | 2.5% | $31,045 | 2.7% | $1,163,356 |
| 2002 | $806,292 | 66.9% | $295,573 | 28.9% | $81,780 | 6.8% | $17,331 | 1.4% | $2,728 | 0.2% | $1,203,704 |
| 2003 | $601,024 | 52.5% | $292,300 | 25.5% | $126,102 | 11.2% | $121,702 | 10.8% | $2,851 | 0.2% | $1,143,979 |
| 2004 | $359,302 | 38.8% | $363,539 | 39.2% | $139,073 | 15.0% | $63,583 | 6.9% | $1,859 | 0.2% | $927,356 |
| 2005 | $276,648 | 29.0% | $428,094 | 44.9% | $160,847 | 16.9% | $69,273 | 7.3% | $18,080 | 1.9% | $952,942 |
| 2006 | $323,341 | 30.7% | $530,525 | 50.3% | $136,271 | 12.9% | $60,482 | 5.7% | $3,061 | .3% | $1,054,130 |
| 2007 | $474,306 | 36.1% | $501,060 | 38.2% | $156,133 | 11.9% | $180,843 | 13.8% | $0 | 0% | $1,312,342 |
| FY00 | FY01 | FY02 | FY03 | FY04 | FY05 | FY06 | FY07 | |
|---|---|---|---|---|---|---|---|---|
| Payables | $129,277 | 154353 | 134370 | $173,363 | $106,361 | $28,262 | $15,043 | $38,171 |
| Net Assets | $32,721 | $38,723 | $48,005 | $95,984 | $141,064 | $149,444 | $161,896 | $236,892 |
| LT Debt | $27,390 | $0 | $33,583 | $14,249 | $5,447 | $0 | $0 | $0 |
*Grants include United Way funding.