Last year, Community Resource Exchange (CRE) experienced a drop in revenue primarily due to two factors: (1) We did not receive an expected $687,689 in funding from a city agency that had historically supported our work. We will no longer have this grant moving forward. (2) We also saw the conclusion of federal COVID relief funds, which had previously contributed approximately $648,891 to our operating budget.

In response, we proactively restructured the organization to align with our revised revenue projections. This included a thoughtful downsizing of our team to improve cost efficiency and right-size the organization for long-term sustainability.  To bridge the temporary operating gap, we drew down from our reserves — a move that was already board-approved as part of our strategic planning implementation. This planned reserve use allowed us to navigate the transition without compromising program delivery or long-term health.

Looking ahead, we are projecting a balanced budget for the current fiscal year. This is due to both our realigned cost structure and encouraging results from our strengthened business development efforts.