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Financial Management
Sources and uses of financial resources.
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An annual audit is conducted by an independent, certified accounting firm, with financial statements prepared with generally-accepted accounting principles. Audits are conducted in accordance with Government Auditing Standards, issued by the Comptroller General of the United States.
Annual audits have concluded that financial resources are used for the sole purpose of supporting program services and activities. There have been no adverse findings in MHS annual audits, in audits of MHS supportive housing programs by the U.S. Department of Housing and Urban Development, or in audits of the MHS representative payee program by the Social Security Administration.
MHS makes efficient use of financial resources in the fulfillment of its mission. Analyses by the Alcohol, Drug Addiction and Mental Health Services (ADAMHS) Board of Cuyahoga County* in March 2008 revealed that the administrative overhead of MHS was just 7.74%. This is nearly half the average administrative overhead (14.41%) of the 20 agencies examined by the Board. Only two agencies had lower percentages: Catholic Charities (6.27%), and EDEN (5.82%).
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In independent audits conducted by Zalick, Torok, Kirgesner, Cook, and Company for the fiscal years ending on 30 June 1999, 2000, and 2001, and by Meaden & Moore, Ltd. for the fiscal years ending on 30 June 2002-2009, there were no reportable findings, material or reportable control weakness conditions, or material noncompliance. The auditors' reports identified the type of major programs' compliance opinion as "unqualified."
Ronald Nowak, at left, is our Chief Financial Officer. Current audited financial statements are available below; by sending a request to Mr. Nowak at: MHS; 1744 Payne Avenue; Cleveland, Ohio 44114-2910; or by calling him at 216-274-3304.
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Financial statements for the 2005-2009 fiscal years (ending 30 June) are available here as personal document files (PDF) that open in a separate browser window, using your computer's Adobe Acrobat application, or other PDF viewer. Just click the link of your choice, at right.
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Financial Statements
for fiscal years
(ending 30 June) ...
2005
2006
2007
2008
2009
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You may also retrieve independent information about MHS from Guidestar, which provides comprehensive data on more than 1.5 million nonprofit organizations.
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To view Guidestar information about MHS, including its IRS Form 990s, click the image above to open a separate window to the Guidestar website. In the "Nonprofit search" textbox, enter MHS Cleveland, then click the "Search" button. You may go directly to Guidestar's information about MHS by
clicking here.
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Total revenue increased 8% in the 2009 fiscal year, due largely to new U.S. Department of Housing and Urban Development-funded permanent, supportive housing programs. Medicaid revenue also increased 12%, because of the increase in the number of Medicaid-eligible homeless clients who participated in MHS services.
Expenditures for supportive housing programs to benefit our homeless clients increased 28% in the 2009 fiscal year, an expression of the agency's mission to end homelessness among those with mental disabilities, and County and federal goals to end homelessness.
General and administrative expenses were 12% of total expenses in 2009, compared with 14% in 2008, and 13% in both 2007 and 2006.
Note: Contributions and grants in the 2007 and 2006 fiscal years include foundation grants to our capital campaign for 1744 Payne Avenue.
* The analyses of administrative overhead expenses were conducted by the Cuyahoga County Community Mental Health Board, which, on 1 July 2009, consolidated with the the Alcohol & Drug Addiction Services Board of Cuyahoga County to form the Alcohol, Drug Addiction and Mental Health Services (ADAMHS) Board of Cuyahoga County.
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