Financials

Leadership

The Executive Director/CEO reports directly to the Board of Directors, which has 16 members, 50% of whom are blind or visually impaired. Blind and visually impaired individuals also constitute 45% of the agency staff. The Chief Operations Officer, Director of Finance, Director of Development, Human Resources/Facilities Manager and three managers of services and programs report directly to the Executive Director. The Finance Director oversees the financial management of the agency. The Human Resources/Facilities Manager oversees the human resources coordination and administrative management of the agency in its five locations. The Director of Development manages a team of four individuals who plan and implement all development and marketing activities in the agency’s five locations. The Director of Rehabilitation Services, Director of Access to Information Services and Director of Community Services supervise and coordinate the agency’s direct services.

Financial Control

Financial control of the LightHouse is overseen by the Board’s Finance and Audit Committees, working through the Executive Director/CEO and Director of Finance. All accounting procedures are conducted and coordinated at the San Francisco headquarters. The three-person finance team works closely together to ensure a careful system of checks and balances.

  • Receivables: Accounts Receivable (AR) invoices are prepared and sent to customers monthly. AR is reconciled monthly and cash receipts are processed on a daily basis.
  • Payables: Invoices are paid on a weekly basis according to their due date. Accounts Payable is reconciled monthly.
  • Payroll: Payroll is processed twice a month using an outside payroll service, namely Automatic Data Processing (ADP).
  • Financial Statements: Statements are prepared on a monthly basis and reviewed by all members of the executive management team and the Finance Committee of the Board of Directors.
  • An external, certified audit is conducted annually. The Audit Committee of the Board of Directors engages the CPA firm, which conducts the audit and then presents the audited financial statements, first to the audit committee and then to the entire Board of Directors.

Funding Sources

The LightHouse strives to meet the needs of the blind and visually impaired community with the support of a multifaceted revenue model. The LightHouse funds its operating budget with support from individuals (including bequests), social enterprise revenue, government grants and contracts, private grants and investment income.

Capital Assets and Operating Reserves

The LightHouse for the Blind and Visually Impaired segregates its net assets into two board-designated accounts: capital assets and operating reserves.

Capital assets include the agency’s two-story headquarters building in the San Francisco Civic Center area and the furniture and equipment housed therein; a 311-acre camp facility in Napa, California, and all the structures, equipment and furniture on the site; the manufacturing equipment for its employment enterprise in Oakland, California (LightHouse Industries); and the furniture and equipment in satellite offices in San Rafael and Eureka, California.

Additionally, the LightHouse strives to maintain an operating reserve representing five times the agency’s annual budget. The LightHouse Board of Directors has a spending policy designed to increase the agency’s net assets, while funding approximately $1,000,000 of the annual operating budget.

Annual Reports

Encapsulates the year in review – programs, finances, community partners, staff and board – and the upcoming year’s goals.

IRS Form 990

Independent Auditor’s Report

LightHouse Bylaws

LightHouse Conflict of Interest Policy