5 years ago
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.
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.
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.
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.