Board of WCA Home gives financial picture at annual meeting
The Women’s Christian Association of Fredonia held its annual meeting June 22. The fiscal year of the WCA Home included three months of operating under the constraints of COVID-19, but with no positive cases of the virus in any residents or staff. The Home has been closed to visitors since March 12, but is preparing to open up under state guidelines. The board held its meetings at St. Joseph Catholic Church in Fredonia.
Elected as new officers for one-year terms were President Christine Davis Mantai, Vice President Lori Poniatowski, RN; Treasurer Debbie Cosme-Rodriguez, and Secretary Julie Essek. New members just joining for three year terms on the board are Ms. Cosme-Rodriguez, Jon Esperson, and Daniel Young. Other board members are Mary Sue Vogel, Lucinda Coon, and Ray Campbell. Leaving the board this year were Martha Schmitt and Richard Halas.
Reviewing the 2018-19 financial statements of the WCA Home, Past-Treasurer Halas reported that operating income totaled $1.514 million and operating expenses totaled $1.584 million, which included COVID-19 expenses of $6,361 over three months.
Capital improvements of $40,000 were made in room renovations, interior painting, and new furniture.
New York State awarded the Home a competitive grant of $14,000 and the residents elected to use it for new dining chairs. Related to COVID was a grant of $10,000 from the Small Business Association and a loan of $185,000 from the federal Payroll Protection Program, which may be forgiven if guidelines are met. Administrator Tammy McCool reported to the board that she would be applying for forgiveness of the loan.
The Investment Fund ended the year at $1.89 million, about $70,000 higher than last year, in spite of the nation’s economic injury from the pandemic. Founders of the WCA Home created the Investment Fund in 1892 to support their vision of providing an excellent home for assisted living while keeping the cost affordable. Its most recent benefactor was Carol Card Dudley, whose estate included a major gift to the WCA Home in 2005.
Not invested, but used for immediate needs were approximately $14,000 in gifts from the community, families, residents and The Friends of WCA Home, an auxiliary.
Anyone interested in participating with The Friends of WCA Home, serving on the board, or receiving a copy of the WCA Home newsletter is encouraged to call the office at 672-7961 or email firstname.lastname@example.org.