1. June 13, 2017 Board of Directors Meeting
YTD April 2017 Financial Results

2. YTD April 2017 Statement of Operations
The YTD financials do not yet reflect the gift in kind revenue and expense for the Sharon Stone PSA’s. Will be recorded when final FMV is determined

3. YTD April 2017 Budget vs Actual Comments
A few highlights for the National Operations:
YTD Net Loss of $68K is favorable by $370K compared to the original budgeted Net Loss of $438K, due mainly to $399K favorable revenue timing.
YTD April Revenue of $2.160M is ahead of budget by $399K. Full year Fund Dev non-food revenue is projected to be $42K below target. We recorded a $475K pledge from The Meijer organization in October for their non-food support for the year ($375 remains as of 4/30/17). This was in the original budget for June. $325K was received on May 10. See additional details on the following Non-Food Revenue slide.
YTD Expenses of $2.23M are slightly higher than budget by $29K, driven mainly by the following:  
Backpack and Corporate packing expense is positive by $6K. We expect these to be favorable full year.
Payroll is negative by $145K. $70K is due to the addition of the unbudgeted, but approved, position of Director of Strategic Initiatives. Full year impact of this position is approximately $84K. The Program team is above budget, as they hired there new budgeted FTE’s in December instead of January. This is partially offset by savings in Contract Services, as 1 of the new FTE’s was originally budgeted to be a contract position.
Contract expenses is positive by $59K mainly due to timing of Food Logistics services. $22K planned to be spent Q4. We then re-evaluate for FY18.
Admin Expense is positive by $21K due to savings of printing and other misc expenses. We expect these to also be favorable full year.
Marketing Expense is positive by $36K. We anticipate these savings to continue for the full year.
Travel expense is slightly negative by $4K, in part due to increased travel expenses for CEO (fundraising) and Program Team (pricing change meetings). There were also expenses related to the new market roll out for LA, DC and ATL.
We anticipate full year total general and administrative expenses to be over budget by $60K.
A few highlights for the Local (Program) Operations:
YTD Food Revenue of $5.95M is behind budget by $976K. The biggest reason is the fact that we have been feeding less children during the year than planned. For the month of April, food revenue is $136K behind budget. Part of the variance is the lower child count volume, but the other factor is that some food revenue comes in at the beginning of the year for the entire year budget, such as Wal-Mart, Delta Dental, etc. The current budget model assumes that food revenue and food costs are both incurred at the same rates during the year, which is not always the case for revenue.
Food Expense is ahead budget by $1.39M. The budget assumes we would be feeding 102K children as of April 30, instead of the 91K that we actually did.
National Cash balance is $171K vs a forecast balance of $143K. Program cash is $4.63M. Total Investments are $3.23M.
   

4. Month of April 2017 Statement of Operations

5. Fund Dev. Non-food Revenue – YTD April 2017

6. YTD Apr 2017 vs Apr 2016 Statement of Operations

7. April 2017 Balance Sheet

8. Historical Balance Sheets

9. April 2017 – Unrestricted (Non-food) Cash Flows

10. Investment Summary – April 2017

11. Active Student Headcount – April 2017
As of 4/30/2017, there are 1,904 identified upcoming students.