A Letter from our President

Dear Friends,

Many of you may remember that in the face of daunting financial challenges one year ago, LFS implemented a major cost reduction plan to restore our line of credit, build reserves from operating efficiencies and try to run ahead of the continuing downward economic spiral in our state and country. Our plan required: executive pay cuts; hundreds of furlough days contributed by all employees; elimination of 401K matching contributions from the agency; reduced mileage reimbursement; and a salary freeze for the 2009-10 fiscal year. Everyone shared the burden in an attempt to avoid eliminating any programs or services.

The plan began to show results almost immediately and by June 30, 2009, we finished the fiscal year modestly “in the black.” Now, one year after the plan began, I am so pleased to report that we have achieved 90% of our original goals! We eliminated furlough days beginning in July 2009, our line of credit is paid off, our operating budget shows a healthy surplus of revenue over expense, we were able to pay back previously liquidated reserves and provide a 401K matching contribution for the last pay period in January; and, we are hopeful that performance-based salary increases will once again be available for our incredible workforce by the beginning of the new fiscal year - July 1, 2010.

I wish I could say that the worst is over and that things should be looking up from this point forward. Unfortunately, although we seem to be on firmer footing at the moment, our state government, supporting church bodies and many of our funding partners are reporting revenue shortfalls that are expected to get worse in 2011 than in 2010. On top of all that cheery news we know that, although Colorado is doing better than many states, unemployment remains high and that is taking a toll on a large percentage of our donors and supporting congregations. Meanwhile, the desperate needs of the vulnerable continue to grow as we watch funding for services dwindle and disappear. For example, 200 children have died in Colorado as a result of child abuse in the last nine years and 127,000 (15%) of children under 12 years of age lived at or below the poverty level from 2006-08. But for some time now, it has been hard to get a meaningful conversation going around developing solutions to such problems, if there is a price tag involved. Yet, Colorado is ranked 9th in wealth among the 50 states.

Responding to the needs of the neighbor is baked into the DNA of this agency. We can do nothing less. We know that the poor in body, mind and spirit will always be with us and that we come closest to the heart of our Lord when we love and serve them faithfully, generously and joyfully. LFS will continue to advocate for the needs of our vulnerable neighbors and we remain committed to serving them as efficiently as possible, in order to maximize the impact of each earned or contributed dollar, on every life we touch.

Throughout this journey you have been our faithful and generous partners, making gifts of operating and endowment support and providing direct assistance to the children, refugees and older adults we serve, over and over again. You lifted us, especially at times that we know were as uncertain for you as they were for this agency. We daily thank God for your faith-fueled partnership and we hope to continue to earn your trust and support.

A Letter from our President

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