Treasurer’s Annual Report
The following report was presented at the April 15, 2025 Annual Meeting
2023-2024 Annual Financial Report
Submitted by BJ Friedman, CCDC Treasurer
This report covers the Fiscal Year Oct 2023-Sept 2024.
As usual, our biggest source of income came from rents. The 2023-24 fiscal year saw $228,878 coming from rents on our 11 properties.
Another plus, we received an anonymous gift of $50,000 in February 2023. With Kim and Mary developing an incredible marketing blitz, we made our first foray to raise money through the “I Live Here, I Give Here” campaign. That project brought us a little over $9,100 in donations, largely from folks who had never before contributed to the CCDC. Additional donations totally around $4000 permitted us to make much needed repairs to our properties.
Another grant for $10,000 and a donation of $20,000 was obtained to help with repairs at our property at 1817 W 10th St. Repairs on this property were double what was anticipated, which resulted in the biggest share of our net loss this fiscal year.
The tenants at 1817 W 10th were moved to a vacant property while repairs were made. The vacant property rents for more than the tenants pay at 1817, which resulted in a loss of revenue.
Based on donations, grants, gifts, and excellent financial and property management by Prak Property Management, we continue to address the structural issues for 2 of the properties on Charlotte.
Respectfully submitted,
BJ Friedman, CCDC Treasurer