2021 FINANCIAL SUMMARY
Fiscal 2021 marked a significant turnaround for our YMCA. While the COVID-19 pandemic continued to significantly impact our operations, the receipt of an unexpected $18 million gift from MacKenzie Scott’s 2020 Fund could not have arrived at a better time.
2020 was an extremely difficult year due to the pandemic, with the Association’s Net Assets declining by $5.1 million. The Scott gift enabled the Y to increase its Net Assets by $16.7 million in 2021, a turnaround of $21.8 million. The unrestricted gift further allowed us to accelerate the replenishment of our reserves and make critical investments in our facilities, outreach program sustainability, pay equity and diversity, equity and inclusion efforts, that would not otherwise have been possible in the aftermath of the Covid-19 crisis. The impact of this gift will also be realized in future fiscal years in our accordance with our plan to make these investments over a three-year period.
In addition to the Scott gift, contributions for capital assets ($6.0 million) and the unrealized gain on the value of our interest rate swap ($1.6 million) also contributed significantly toward the increase in our Net Assets.
-- Joseph W. Harwell | Chief Financial Officer
STATEMENTS OF FINANCIAL POSITION
DECEMBER 31, 2021 AND 2020
STATEMENTS OF ACTIVITIES
YEAR ENDED DECEMBER 31, 2021
(WITH SUMMARIZED FINANCIAL DATA FOR YEAR ENDED DECEMBER 31, 2020)
STATEMENTS OF ACTIVITIES
YEAR ENDED DECEMBER 31, 2020
