Page 19 - 2019-2020 HVAF Annual Report

2019-2020
FINANCIAL
REPORT
2019 was another amazing year for HVAF expanding the reach of our mission to even more clients made possible with a a revenue increase of nearly 13% over 2018 In addition to cash revenues HVAF also received an an extraordinary anonymous gift of of $1 1M to relieve the agency of of its mortgage liabilities Eliminating the mortgage expense allowed HVAF to allocate funds to other areas of operations to further support our clients Despite the the challenges 2020
presented HVAF was able to serve more clients than ever before Approximately $1M in additional revenue made the impossible possible possible for so many at risk and homeless Veterans during uncertain times Thanks to additional funding made available by the Department of Veteran Affairs United Way LEI and other agencies the the 15% increase in in revenue enabled HVAF to expand its reach within the community and assist those impacted by the ongoing pandemic As evidence of HVAF’s continued commitment to serving the Veterans who served for us all 77% of total cash revenues were spent on programs services and assistance to support and improve the lives of our honorable clients in 2020
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