Financials

As Philoptochos looks ahead to 2024 through 2026, the financial landscape unfolds with challenges and opportunities. The budget projections paint a dynamic picture of change as we seek to sustain our philanthropic mission.

In 2023, despite facing a $25,734 shortfall in holiday appeals and a significant decline in rental income, the Society surpassed its overall income target, largely thanks to unexpected investment gains and a substantial influx from the Children’s Medical Fund. For the years ahead, we anticipate steady growth in membership dues, with a slight increase each year and a revitalization of holiday appeal efforts to raise $150,000 by 2026.

The Society’s expenditures in 2023 had stayed under budget, creating a net surplus of over $458,000, primarily from underutilized funds in social services and cancer assistance. Moving forward, the budgets for social services and the Lenten event at Hellenic College Holy Cross were set to increase, reflecting the Society’s renewed commitment to addressing pressing community needs.

The years leading up to 2026 see a focused push to support disaster relief efforts and international outreach, including aid for fires in Maui and ongoing support for Ukraine. While the upcoming convention years of 2024 and 2026 brought higher anticipated expenses, careful planning aimed to balance these costs with projected income growth.

Through strategic adjustments, the Philoptochos is prepared to continue its legacy of giving, with an eye on emerging challenges and a steadfast commitment to philanthropy.