2019 Annual Report

Beginning with the 2018-2019 Fiscal Year (July 1 - June 30), the Keep Loreto Magical Foundation is reporting its income and expenditures by fiscal year.

For FY 2018-19, revenue is made up principally of the proceeds of the March 2019 Noche Magica along with the carry-over funds from the previous fiscal year. A small grant transfer from another TOF fund (the Ocean Foundation) and a small fee for service complete the year's revenues.

Given that the fundraiser occurs near the end of the fiscal year, the funds raised at the event are mainly spent in the following fiscal year, as described in Current Projects. Expenditures in FY 2018-19 are made up of payment of staff contract part-time services, payment to scientists and consultants for Nopolo Park and Heavy Metals testing fees, meetings and travel, and the initiation of the San Javier CSA.

Also included are the costs of Noche Magica, the 10% fiscal sponsor fee, various wire transfer and banking fees necessary for transferring funds from the US to Mexico, and various other legal and other charges. The project work is described in Annual Reports FY 2018-19.