With an increased demand for our services, Southwest Key continued to expand and diversify funding in 2009-2010. Operating revenues grew to $65 million, including a multi-million dollar campaign culminating in the grand opening of Southwest Key's first charter school, the East Austin College Prep Academy in August 2009 and the groundbreaking of Southwest Key's Social Enterprise Complex in May 2010. The organization employed over 1000 people nationwide, including over 940 direct care professionals in the field. Funding for Southwest Key administration and programs came from grants and contracts with federal, state, and local governments, foundations, corporations, individuals, and special events.
Form 990s
As a 501(c)(3) organization, Southwest Key files a Form 990 each year with the Internal Revenue Service. This return provides detailed financial data, a listing of annual expenses and sources of revenue, and other information about our organization. Southwest Key shares information about operations and finances with GuideStar, the leading source of information on US nonprofits. GuideStar is a searchable database of more than 1.7 million IRS-recognized nonprofit organizations. For independently verified information about Southwest Key's finances, including our Form 990s from 2004-2009, please visit Southwest Key's records on www.guidestar.org.
Council on Accreditation
Southwest Key is nationally accredited by the Council on Accreditation: www.coanet.org.
Audits
Southwest Key engages an independent accounting firm, Sprouse & Anderson LLP, to conduct an annual examination of the organization's books, records, and fiscal policies and procedures. They present the audited financial statements to the Southwest Key Board of Directors annually. For two decades, Southwest Key has received a completely unqualified opinion from its auditors, with no questions, significant deficiencies, or material weaknesses cited.
Community Demographics
Southwest Key tracks the annual demographic statistical information for its defined service population, personnel, governing body, and community advisory bodies. Information is made available upon request.
Excellence in Financial Management
Southwest Key Programs has more than 22 years of experience in the effective management of finances for multiple budgets. We presently manage more than 41 budgets with 28 different funding sources including federal, state, and county agencies, private foundation grants, and corporation grants. Collectively, these budgets account for an operating budget of more than $65 million in 2010.
Southwest Key staff are highly experienced in reviewing billings and tracking reimbursements. Our financial accounting department has a staff of eleven accountants and a manager, including four licensed CPA’s. We maintain a staff of five accounting technicians and a manager in the accounts payable department and a staff of four payroll technicians, a supervisor and a manager in the payroll department. Southwest Key’s Chief Financial Officer, Ms. Melody Chung, is a licensed CPA with a strong auditing background and is responsible for the direct oversight of all three accounting departments.
Questions
Southwest Key's financial statements are in PDF format and can be viewed using the free Adobe Acrobat Reader. To request a hard copy of any Southwest Key report, contact our Chief Financial Officer, Melody Chung, at 512-583-2516 or mchung@swkey.org.
Contributions to Southwest Key are tax-deductible to the extent permitted by law. Southwest Key is a nonprofit 501(c)(3) organization (EIN/tax ID number: 74-248-1167).
