Spring newsletter and annual report 2015

December 18, 2014


Dear Friends of Maitri,

In addition to our regular quarterly newsletter articles and updates, I am pleased to share our Fiscal 2014 Annual Report (for the period ended June 30, 2014) reflecting three important trends:

  • Maitri’s financial performance continues to improve. Revenue is up and spending is down, resulting in an increase in our net assets by more than $100,000. This follows many years of deficits and fiscal 2013’s more modest positive net performance. For details, please view our Audited Financial Statements and 990 Tax Form. Fiscal 2014’s improved financials enabled us to provide the largest staff merit increases in Maitri’s history last month, making up for many years of no pay increases due to our challenged financial state.

  • We have enhanced our nursing care. In order to provide even better nursing care for our residents, we now employ two full-time Registered Nurses (RNs) versus the prior single RN leadership approach. This allows for better clinical collaboration, more hands-on supervision of the nursing staff and an expanded RN presence at Maitri during times and days that a single individual could not possibly cover.

  • Our resident demographics continue to evolve. In fiscal 2014, a majority (51%) of our residents were 55 or older, with 41% being 61 or older. 27% of our residents arrived at Maitri homeless, versus 17% last year and 10% the year before. Clearly we are serving a much older resident population and many more homeless individuals than in the past, reflecting the changing face of the epidemic and the evolving needs of our community.

One thing that hasn’t changed at Maitri is the love, compassion and dignity that we offer each of our
residents – whether here for end-of-life-care or for medical stabilization. We couldn’t do any of this without the support of our dedicated donors, volunteers and staff. Thank you so much for making all of this possible.

Warm regards,

Michael Smithwick
Executive Director

Audited results for fiscal year ended June 30, 2014

maitri-revenue-2014  chart-res-demographics

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