There are some opinions that matter more to me than others, but one that holds much weight is the opinion given by our auditors. “In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Special Olympics New Mexico, Inc. as of December 31, 2010 and 2009, and the changes in its net assets and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America.” Broderick & Company, LLC Those words are music to my ears and essentially mean that our organization’s financial condition, position, and operations were fairly presented in our financial statements. In short, it’s called receiving a “clean opinion.”
Each year as the auditors give their report to our Board of Directors, I am especially interested in the report on the Statement of Functional Expenses – how much our organization spends on Program Services – Management and General – and Fundraising. It was reported that in 2010, $.78 of every dollar was spent on Program, $.08 of every dollar went to Management and General, and $.14 of every dollar was spent on Fundraising. A donor and friend shared this perspective with me – “As one who contributes to Special Olympics New Mexico, I want to know how much money your spending on staff salaries, how much you are paying for rent, and is the money you are spending on fundraising well-spent?”
Maybe more than ever, I would bet all of our donors care about where our dollars are going and rightly expect us to keep our fundraising and administrative costs as low as possible. I would also bet they would be pleased to know that of every dollar that came through our door last year – $.78 was spent on our mission – on our athletes.
I am proud of us for that, and as Executive Director of Special Olympics New Mexico, I am very proud of what that represents.