Report from the Treasurer

Please keep in mind that figures are reported in rounded thousands and our financial reporting is done on a cash basis. That means that receipts are just that, payments received and disbursements reflect money spent. So, when I tell you that receipts for nursing activities in 2023 were over $142,000 that figure represents payments received not the value of services provided. That figure is 120% of the previous peak of $119,000 in 2020.

However, expenses paid out in support of our Christian Science nursing activity in 2023 were $152,000. The bulk of these disbursements were $103,000 for compensation to our staff and subcontractors. We also reimbursed the Christian Science nurses nearly $35,000 for the travel costs they incurred and we spent $11,000 for nursing supplies.

So, in 2023 we spent $10,000 more than we received from patients.

We received $11,000 in contributions in 2023. Administrative costs, which include our annual meeting, bookkeeping services, software, website services and maintenance and other items totaled $5,000 so that activities not directly related to the services provided to patients contributed $6,000 to reducing our net negative cash flow from operating activities to $4,000.

Interest and dividends received totaled $27,000 bringing overall net cash flow to a positive $23,000. Unrealized appreciation of our investments was $21,000 bringing net income for the year to $44,000.

So, financially speaking 2023 was a good year.

It being so late in 2024 it seems appropriate to provide a preview of coming attractions, or at least some more current information. Through October of this year, receipts for Christian Science nursing services were $28,000. Disbursements in support of those services totaled $104,000 for a net outflow of $76,000. This demonstrates one of the major challenges of a service like ours, the need for services fluctuates greatly, the cost of having staff available to provide those services is more consistent.

As you are now aware my tenure as treasurer of this Service is coming to an end. I joined the board in 2013 and became treasurer in 2015. My work for the Service has been a blessing and the impetus for growth and inspiration. I invite you all to consider joining the board or offering your skills and services in other ways to support the important work of this organization. 

Respectfully submitted,
Alice G. Shepherd
Treasurer