What This Money Means

In the last three weeks, Reach has received a number of significant gifts:

$5,000 from the Luther I. Replogle Foundation on November 10th.

$5,000 from the CityBridge Foundation on November 11th.

$65,000, over two years, from the Snave Foundation on November 19th.

$20,000 from Monica & David Dixon on November 27th.

$1,000 from the NEA Foundation on November 28th.

We celebrate these strong statements of support, and we look forward to using these funds to serve students in DC. But, what do these donations really mean?

These gifts satisfy our fundraising needs for the current fiscal year, which runs through June 30, 2011. Seven months before the start of the next fiscal year, we can begin aggressively planning for expansion. This means:

• We can confidently begin exploring expansion sites for the 2011-2012 academic year.
• We can begin planning for the addition of a second full-time staff member in the summer of 2011.
• We can be certain of our ability to pay all tutors and teachers for the remainder of the current academic year.
• We can transfer some of our funds to interest-bearing accounts, allowing our money to make money.

More important than any other factor, our early fundraising success allows the organization to focus on the most important part of our work: the program. With the impressive support secured through foundations, corporations, and individuals, we can focus entirely on creating the city's best literacy program.

We are immensely grateful for this early support, and we look forward to using this financial security to effectively plan for future success.

Thanks, as always, for reading.

Mark