|
| |
 |
Financial Management
Sources and uses of financial resources.
|
|
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 progams 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 Cuyahoga County Community Mental Health Board 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%).
|
|
|
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 2002-2007, 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.
|
|
Financial statements for the 2007, 2006, and 2005 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.
|
Financial Statements
for fiscal years
(ending 30 June) ...
2005
2006
2007 |
|
|
You may also retrieve independent information about MHS from Guidestar, which provides comprehensive data on more than 1.5 million nonprofit organizations.
|
 |
|
To view Guidestar information about MHS, click the icon at right to open a separate window to the Guidestar website. In the upper-right area of the home page, below the "Search" textbox, click on "Advanced Search." Do not enter anything in the "Keyword" box. For "Organization Name/Location," enter Mental Health Services for Homeless Persons, Inc. Below that, enter Cleveland. Below that, enter Ohio. Then click the "Search" button.
|
|
|
|
|
Total revenue increased 26.5% in 2006, due to an 18% increase in government grants, and the nearly ten-fold increase in foundation grants to our capital campaign for 1744 Payne Avenue. Total revenue had increased 22.5% in 2005, largely because of a 27% increase in government grants, and a 16% increase in Medicaid claims. General and administrative expenses were 12.7% of total expenses in 2007, and 12.9% in 2006.
|
 |
Copyright ©
Mental Health Services for Homeless Persons, Inc. (MHS)
1744 Payne Avenue; Cleveland, Ohio 44114 U.S.A.
216-623-6555 - TTY/TDD: 216-623-6540
The URL of this page is
http://www.mhs-inc.org/Financials.asp
It was most recently updated on 6 May 2008.
We welcome your comments.
Please write to Joel[at]mhs-inc.org
Explore! Enter search terms in the text-box below, and click the Search button to find information within the MHS website, or throughout the web.
|
|
|
|
