Dollars and Sense
In 1994 I was fortunate to be transferred by my Company from the “mother-ship” in Chicago to the Sarasota office.
The Company was well known as a supporter of cultural and human services organizations and expected its officers to take an active role in community life by volunteering and serving on the Boards of those organizations. A co-worker, a friend of Ray Grills, who was familiar with the work at Resurrection House, knew that the organization was looking to expand its Board and arranged for us to meet and tour the facility with Bob Kyllonen. At that time I was completely unaware of the plight of the homeless individuals in Sarasota but thought that the mission of Resurrection House was well worth supporting with both “time and treasure.”
I joined the Board in 1995 and was recruited by Ray to join the finance committee which he chaired. In the spring of 1997, after much discussion in committee, we agreed that, to insure the long term stability of the organization, an Endowment Fund should be established. Having had experience with these funds, I drafted an Endowment document which was adopted by the Board on June 18, 1997.
Over the course of the years, under the leadership of Dick Tesar, Treasurer, and Ralph Hedges, Finance Committee chairman the little account grew due to the incredible generosity of our donors and local foundations. With each unrestricted contribution of $5,000 or more, the committee would debate how much, if any of that amount the Board should allocate to the Endowment. Those debates continue to this day, and I am delighted to report that its value now exceeds $2 million. Resurrection House is now one of the most financially stable not-for-profits in Sarasota, totally independent of any government funding.
We look forward to a long and successful future, free of debt, so that we can continue to serve our clients with dignity and compassion.
Kathy Hendricks, Chairman
Resurrection House Finance Committee