A Big Transition

A week ago, at Reach's most recent board meeting, we had an in depth conversation about our cash flow needs in the coming months. As we inch toward program launch, our financial needs will increase significantly as we incur our first program costs. To this point, our costs have been low. During this year's first four months, we've doubled our cash reserves; however, the board indicated an interest in accumulating a semester's worth of reserves before entering into contracts with teachers and tutors. So, what does that mean?

For me, that means an intense increase in fundraising. By August 1st, we will need to raise an additional $50,000 to ensure that we can meet our financial obligations during our pilot program. With the assistance of the Board, we are aggressively looking to cultivate relationships with donors who have shown interest in supporting educational initiatives. We are certainly going to be busy in the coming months, and I look forward to sharing our work with interested donors throughout the city.

We got a solid start this weekend when we raised over $1,000 at two events. On Friday night, we welcomed both old and new supporters to Town Tavern for Philanthropy Friday. In addition to the small cover charge that went to Reach, we raised over $400 through the sale of raffle tickets - congratulations to Provi ($50 to Maddy's), Julia ($50 to McCormick & Schmick's), Christine ($50 to Ireland's Four Fields), and Matt ($100 to Matchbox) on their big victories! On Saturday, Reach received a cut of the proceeds from Nerd Nite DC at DC9. Both were exciting events, and we appreciate the financial support created. It was a great weekend, and we look forward to building on this momentum in the coming weeks.

Thanks, as always, for reading.

Mark