Pride Accounts Published

The San Francisco Pride Committee is pleased to announce publication of its audited financial statements for the fourteen month period to September 30, 1999.

The statements show a small surplus of $5,249 for the period, the second successive year the organization has ended its accounting period in the black. The news that the organization has reported another strong financial performance is in sharp contrast to the $160,000 loss which was reported for 1997, prior to the organization hiring a full time Executive Director.

The statements report a welcome increase in both income and in the amount returned to the community, as shown below.

Year Community Donations Made $ Donations as a percentage of total cash expenditure
1997 $32,170 4.79%
1998 $46,800 6.39%
1999 $56,995 7.70%

1999 was a record high for the amount of community donations and, as a percentage of total cash expenditure, the amount of community donations has been increasing since 1997, hand in hand with higher standards of fiscal responsibility and financial solvency.

Commenting, the Auditor, Arlene Mose CPA, said :

"Prior to the hiring of the Executive Director, the internal controls of the agency were weak, the financial budget was not well monitored, and the financial health of the agency had wild swings. Within the last few years, however, members of the Board focused on providing policy and direction. The Executive Director effectively implemented these policies which provided internal controls over accounting procedures, physical controls over assets, and for the fiscal oversight and monitoring."

In accordance with the new standards of openness and accountability established by the organization in recent years, SF Pride's financial records are open for inspection by the press.

ENDS

For further information please contact Teddy Witherington at :
(415) 864 0831