Dear Crooms AoIT Alumni Association members and supporters,
On the eve of #Crooms100, we are pleased to present our FY26 consolidated income and balance sheet to provide full transparency into how your financial support is used. The Association's fiscal year runs from July 1, 2025 to June 30, 2026. The Association uses cash accounting but lines have been entered to recognize scholarship commitments made in FY26 that were not paid out during the fiscal year.
A summary of major activities includes:
- We partnered with the Classes of 2005, 2006, and 2007 to serve as their official financial partner. As part of this arrangement, we established to temporary funds to support their 20 Year Grand Reunion fundraiser. Through this program, the Classes provided a $1,000 donation to the Theater Program and sponsored the Crooms AoIT Alumni Association Tech Innovation Scholarship.
- Two Coach Geoffry Alan Haines Athletics Grants were awarded to support Crooms AoIT Athletics for a total of $600. This year was particularly exciting, as one grant was to a new program - Girls Flag Football - while the other was our first cross-sport application for volleyball and soccer.
- The Crooms AoIT Alumni Association Community Scholarship for $1,200 was awarded for the 20th Year.
- A $1,000 Tech Innovation Scholarship was awarded after a one year hiatus - sponsored by the Classes of 2005, 2006, and 2007.
- We awarded a a $500 Honorable Mention Scholarship for only the 4th time in 20 years.
- We continued depositing a portion of our fund balance for the second year into an interest-bearing CD to help generate an additional $167.43 of income this year.
A summary of our financials is detailed below:
- The Association started the year with a fund balance (excluding existing commitments) of $3,938.57 in the General Fund and $3,599.03 in the "Brick" Fund (the "Brick" Fund was established in FY22 following the launch of the Crooms AoIT Alumni Panther Walk and is intended to provide support to Crooms AoIT Athletics).
- After removing internal transfers, these two funds collected revenues of $4,581.54 were collected through memberships, donations, brick purchases, and other means - representing a 43% increase from FY25.
- After removing internal transfers, expenses of $1,854.88 were recognized- representing a 58% decrease largely driven by less scholarships being awarded in FY25 and no capital outlays expended on bricks in FY26. Overhead (from PayPal transaction fees) accounted for approximately 2.6% of all expenses for the year - highlighting the efficiency of operations.
- An additional $2,700 remains to be disbursed for scholarships awarded during FY26.
- Seperate from the above ongoing operations, two special funds were established to serve as financial custodians for the 2006-2007 Grand Reunion (more information below).
Fund balance (after commitments) stands at $7,564.26 representing a 19% increase from the end of the previous year (after accounting for scholarship commitments). $3,929.34 of this fund balance is unrestricted in the General Fund while $3,634.92 is restricted in the "Brick Fund".
The 2005-2007 Reunion Fund bought in $1,655 in ticket sales and ended with $278.33 is residual funds (after expenses) - which were transferred to the 2005-2007 Class Gift Fund to zero out the Fund. The 2005-2007 Class Gift Fund raised $1,260 in donations and $278.33 in transfers; it provided provided $1,499.13 in gifts (after PayPal expenses) - including $499.13 which was transferred to the General Fund to support the Tech Innovation Scholarship (which is encumbered for payment in the upcoming fiscal year).
Overall, we end the fiscal year in a fiscal year as we enter into the 2026-2027 fiscal year and celebrate #Crooms100. We hope you will join us in celebrating the #Crooms100 by visiting our special page dedicated to the occasion.
If you would like more details on our financials, we invite you review the attached spreadsheet which includes transaction level detail for the year. Donor information has been removed to protect the privacy of our donors. Do not hesitate to contact us if you should have any questions or concerns.
Thank you for your continued support.