Impact Report 2023: Audited Financials
Thank you for your generous support
“We appreciate the many friends and partners who continue to support Mosaic’s mission. These results were only made possible because of their generous gifts and donations.” – Scott Hoffman, Senior Vice President and Chief Financial Officer
The Mosaic and Affiliates financial position continues to be strong, with a net asset position of $221M and $193M at June 30, 2023, and 2022 respectively. The 15% (or $28M) increase is primarily due to:
- Operational Performance – $4M
- Provider Relief Funds – $7M
- Gifts, grants, and estates – $8M (Hope Beyond Measure and estates received)
- Contribution from acquired entity – $3M
- Investment returns – $6M (Stock market has been volatile, but Mosaic and Affiliates portfolios end the year in positive territory.)
Consolidated revenue increased from $364M in 2022 to $371M in 2023 or 2%.
- The majority of the increase was related to Provider Relief Funds and the integration of two acquisitions (Behavioral Technologies and Community Mountain Pathways).
- Without a doubt, the financial support of the CARES Act and Mosaic’s Donors provided an important bridge to help reduce the financial crisis the pandemic created, allowing uninterrupted care for individuals in service, for which we are very grateful.
We appreciate the many friends and partners who continue to support Mosaic’s mission. These results were only made possible because of their generous gifts and donations.
The Board of Directors through its Finance and Audit Committee has oversight of financial management of Mosaic. Each October the Committee receives a report from Mosaic’s independent auditors on the financial results for Mosaic and Affiliates for the fiscal year ending June 30. For Fiscal Year 23 the auditors included an unqualified opinion that the financial statements present fairly, in all material respects, the financial positions of Mosaic and Affiliates.
The Mosaic & Affiliates audit report and the summary results of the Mosaic & Affiliates audited financial statements in this Annual Report include Mosaic and all related entities. A complete copy of the audit report for Mosaic & Affiliates or the IRS Form 990 tax return for any of its related entities may be obtained by contacting [email protected]
Sincerely,
Scott Hoffman
Senior Vice President and Chief Financial Officer
FY2023 Financial Summary: Mosaic and Affiliates and The Mosaic Foundation
