Impact Report 2024: Audited Financials

Thank You for Your Generous Support

The Mosaic and Affiliates balance sheet continues to be strong, with a net asset position of $246M and $221M at June 30, 2024 and 2023 respectively. The 11% (or $25M) increase–Mosaic’s second best financial performance–is primarily due to:

• Operational Performance – $5M
• Provider Relief Funds – $7M 
• Gifts, grants, and estates – $8M (Hope Beyond Measure and estates received)
• Investment returns – $5M (Stock market has been volatile, but Mosaic and Affiliates portfolios end the year in positive territory.) 

Net Asset History as of June 30

Consolidated revenue increased from $374M in 2023 to $393M in 2024 or 5%.

• The majority of the FY24 increase was related to enhanced funding and critical CAREs Act funding.

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 2024, 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 and Affiliates audit report and the summary results of the Mosaic and Affiliates audited financial statements in this Annual Report include Mosaic and all related entities. A complete copy of the audit report for Mosaic and 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

FY2024 Financial Summary: Mosaic and Affiliates and The Mosaic Foundation