Cumberland YMCA tables healthy financial statement

Dave Mathieson
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Cumberland YMCA CEO, Trina Clarke, speaks during the Y's annual general meeting Tuesday night at the Cumberland YMCA.

AMHERST – With assets in excess of $2.8 million, the Cumberland County YMCA has had robust financial growth during the last few years.

“Statements from a few years ago show that the YMCA had a deficit with regards to assets,” said Cindy Costin-Fury, chartered accountant with McIsaac, Darragh Chartered Accountants, after tabling the YMCA’s 2012-2013 fiscal year financial statement during their annual general meeting Tuesday night at the YMCA. “They’ve made huge strides in their operations to pull this figure around, creating assets of $2.8 million, indicating a very strong and very healthy position for the YMCA.”

Cash flow from operating activities was up $454,456. Cash flow numbers were arrived at by subtracting cash paid to suppliers and employees, $1,730,313, from cash receipts from customers and funding partners, which was $2,184,769.

The financial statement also showed a bump in assets. The market value of their land, building and equipment went from $4,592,099 last year to $4,648,246 this year.

When it came to total revenue vs. expenses, revenue won out by $87,323.

Much of that excess revenue came from the daycare and a big boost in membership.

Daycare revenue is up $130,000. Much of that increase is by having increased capacity in their new centre and, although wages have increased, those increases were offset by having no rental expenses at the offsite daycare, which they rented in previous years.

Also, on average, the YMCA had seen 113 more members each month than there were in the previous year.

Trina Clarke, CEO at the Cumberland YMCA, said the goal of the YMCA is to increase capacity, strengthen their impact, and extend their reach.

The YMCA recently expanded into Oxford but they hope to spread throughout the county.

“Extending our reach will continue to be a goal for us each year until we can say that we are in every little spot in Cumberland County so people can experience what the YMCA is all about,” said Clarke.

Clarke thanked the board members, the volunteers, and their 68 staff members, 35 per cent of which are under the age of 18.

She credits much of the turnaround to funding partners, especially the Town of Amherst and the Municipality of Cumberland County, and support from people in the community.

“The big change was acknowledging that, for a community our size, we couldn’t do it alone,” said Clarke. “We all need to support our facilities for them to survive.

“People realize the importance of having this in the community and, to be here, it has to be supported.”

Twitter: @ADNdave


Organizations: YMCA

Geographic location: AMHERST, Cumberland County, Oxford

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