 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
|
For the Period The EEA has continued to monitor the building process as the process moves towards completion. Most funds have been expended on the building project including grants from the Illinois Department of Natural Resource Museum Capital Grants program (a second grant of $97,200 was received and deposited with the City of Evanston so final payments for the building could be made). As with most homeowners, the EEA has a "mortgage" on the construction. All money was not raised by completion. The EEA worked with First Bank and Trust to establish a line of credit that was key to securing approval from the City of Evanston to sign the construction contract. The City of Evanston purchased the EEA's $120,000 construction line of credit from First Bank and Trust of Evanston; an advantage to the EEA as interest costs were reduced. The EEA made the first of four loan payments to the City of Evanston of $31,900 on July 1, 2003. The EEA will continue to raise funds to complete the payments. The original construction line of credit reached $120,000. Financing for the building addition was totally underwritten by the EEA. Using reserves, grants, and public contributions the EEA is slowly reducing its debt . No major grants were received this year. After many delays and construction issues, the Ecology Center received an occupancy permit for the new space in July 2003. Finally, programs and classes that have been held in less-than-great conditions can be scheduled for the Ecology Center! The EEA sponsored the development of the Ecology Center's website, right here. Check out the rest of our site. You'll find information on all the Ecology Center's programs and services. Thanks to Duckfeet Designs for a thorough and interesting site. Financial records and accounts were reviewed by the firm, David Blockowitz and Associates. The building project has severely reduced the EEA's reserve, and coupled with the construction loan, raising funds is the biggest challenge the organization faces. Efforts for the next several years will focus on paying off the debt and replenishing the reserves. Total assets of the EEA, as the year ended was $58,899. The EEA continues to provide a strong commitment to the Evanston community providing support for environmental education programs and services. The Board is proud of its accomplishments in continuing the organization's tradition of improving the quality of life for all residents. |
|
||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||
