Summary of Financial Status

FY 25 was year four in North10’s effort to pass the IRS’s public support test to secure our Public Charity status by 2027. Prior to FY22 we were classified as a Private Operating Foundation by the IRS because we did not have a diverse pool of funding sources. In FY 25, North10 saw a $3,285,880 increase in outside contributions, a105% from FY 24.

North10 has worked incredibly hard to maintain our Public Charity status and, to that end. In FY25, North10 exceeded the goal for the fundraising. In total, North 10 raised $4,375,026 from foundations, governmental grants, individual and corporate donors, and received a grant for $2,030,689 from the Commonwealth of Pennsylvania in Redevelopment Assistance Capital Program funding.

FY 25 had a $150,002 decrease in investment income to pay operating expenses. This was necessary to reimbursement for capital expenses. North10 received $3,905,715 total non-related entity contributions for FY24, a $3,124,130 increase from the prior year. Also, North10 received $3,546,205 total support for FY25 which includes related entity contributions, a $161,750 increase from the prior year.

In FY25. We continued the development construction with Be A Gem Crossing project and spent $413,264 for construction work.

Also, FY25 saw North10 embark on several other key initiatives aimed at furthering its mission and impact including: expansion of Out-of-School Time (OST) to better serve our neighborhood’s high school population; further expansion of our fundraising team Development Coordinator; and working together to look to the future and write a 5 year budget plan.

We are excited about what the future holds for North10 and all our neighbors here in Hunting Park-East Tioga.

Statement of Assets, Liabilities & Fund Balances: