NAYA lost $477,552 in Net Assets in FY 18. Cash i...

NAYA lost $477,552 in Net Assets in FY 18. Cash increased to $1,005,362, however, the assets it holds for NVN, NUIFC, and Canoe Family totals $420,891, $428,667 is restricted for IDA matching funds, deferred revenue (advanced payments received) increased to $318,397, and $103,634 belongs to KSCH & Sawash. The Audit notes a deficit in the Sawash reserve account of $23,724 and ends with reporting 4 significant deficiencies relating to incorrect, conflicting & missing required financial policies, subrecipient monitoring, and revenue recognition (the deficiency on policies may have been corrected during FY 19).

NAYA had a FY 17 loss of $446,073 and ended the year with a cash balance of $444,206. After subtracting IDA Matching Funds $345,393, amounts for the Fiscal Sponsorship arrangements with Native Voice Network (NVN) and National Urban Indian Family Coalition (NUIFC) $273,182, and amounts belonging to the two NAYA companies, Sawash & KSCH, that provide low-income affordable housing, it leaves a negative cash balance for general operations. Additionally, in 2019, NAYA is expected to make a large payment on LT debt in the amount of $805,128.

Fundraising costs are increasing at a faster rate than the revenue they generate. FY 17 costs increased by $59,830 from the prior year while special events revenue only increased by $35,768.

FY16: My rating isn't about the staff or community. I have family and close friends who work or are clients of NAYA. The rating is for the leadership. We have a good thing here, don't mess it up.
NAYA lost $160,660 for the year, which is not too bad. However, taking a closer look, NAYA took out an additional $150,000 from its line of credit to max it out at $500,000 while total liabilities increased by over $425,000. They probably had to offset the Coalition of Communities of Color spin-off in which NAYA paid $201,800, and had to refund a prior-year grant award of $214,664.

The cash balance, $915,997, is a decrease of $270,121 from the prior year. However, $357,642 is restricted to IDA accounts, $230,273 restricted to Fiscal Sponsorship arrangements with NVN and NUIFC, which doesn't leave much remaining if NVN & NUIFC both suddenly spun off as CCC had done.

On another note, the financials disclose a Related-Party Transaction in which NAYA entered into a professional services agreement with a firm owned by one of its Board members. Costs under this agreement totaled $20,163 for 2016. It doesn't look like we can expect pro bono or much volunteer work from, the current Board. Everyone wants a piece of the pie, hope they leave some for the community.

FY 14: NAYA lost almost $1.26 million as reported on its most recent publicly available tax return. The tax return shows that this loss was primarily financed with cash and debt. NAYA is a good resource for the Portland Native American Community and the NAYA Board is responsible for ensuring a sustainable future by protecting its assets and providing proper financial oversight.