Crossroads….financial information

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We received copies of the IRS annual Form 990 from Crossroads, Lake County Adolescent Counseling Service, Inc.  They provide Community Psychiatric Supportive Treatment, Behavioral Health Counseling
and Prevention Services for children in the community.

During fiscal year ended 6/30/16, they provided CPST services to 1,331 clients.  BHC provided services to 1,197 clients, and the Prevention Services training reached 10,100 individuals.

Fiscal Year Ended                     Revenue                      Expenses           Revenue less Expenses
6/30/12                                 $6,365,632                 $6,050,561                $315,071
6/30/13                                 $6,830,640                 $6,625,511                $203,129
6/30/14                                 $8,461,368                 $7,041,580             $1,419,789
6/30/15                                 $7,355,515                 $7,092,471                $263,044
6/30/16                                 $7,682,301                 $7,600,041                $  82,260

Here are the payments from the ADAMHS Board to Crossroads:
FY 2013                             $2,437,778
FY 2014                             $2,627,431
FY 2015                             $2,332,130
FY 2016                             $2,256,607
FY 2017                             $2,225,900

Their Balance Sheet (assets and liabilities) as of 6/30/16 is quite interesting:

Assets                                                               Liabilities

Cash                                          $418,155                Accounts Payable               $480,785
Savings                                     $  27,003                Deferred Revenue              $   43,080
Pledges                                     $491,898                Secured Mortgage            $2,185,230
Accounts Receivable                $  11,804                Total Liabilities                 $2,709,095
Land & Building (net)            $3,316,563
Investments (Securities)         $7,791,123
All Other Assets                         $65,573              Unrestriced Net Assets     $9,413,024
Total Assets                         $12,122,119

In the fiscal year ended 6/30/14, they reported a net gain on the sale of securities in the amount of $1,225,955.

We have been informed that Crossroads has requested help from the Land Bank of Lake County to demolish a building on their new property.  We will meet with the Land Bank Director and Ohio State Senator for District 60, Mr. John Rogers,  to get the details of the transaction, and will report it to the citizens of Lake County. We will leave it up to the citizens to decide if an entity that relies mainly on government funding, and has accumulated $9.4 million in net assets, should continue to receive financial aid from another government entity.

 

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