In keeping with the VOC’s core value of practicing responsible stewardship, this Annual Report contains a summary of the organization’s 2011 operations.
We view anyone who donates to the Center as an investor. And as with any other investment, investors should expect results for their outlay. For those of you who volunteer at VOC, you understand the unique fulfillment that comes from serving those who have served our country. For those who look for more quantitative results, however, please read further in this report to review the highlights of the Centers 2011 accomplishments.
2011 was a year of transition for the Center. While we increased our portfolio of services we also worked diligently to reduce our operating expenses. The Center's operating expenses exceeded revenues in 2011. This deficit was due to VOC’s decision to increase service levels to clients even though cash contributions were down. These shortfalls were anticipated by the Board of Directors and covered by operating reserves. The decline in revenue was attributed mainly to the economic recession and the corresponding decrease in contributions and grant funding.
Above all, we want to thank you for your indispensable support. It is our hope that you will continue to entrust Veterans Outreach Center with your gifts of time, treasure and talent as we serve together to serve those who have served us.