LNC Financial Statements as of 11/30/2025

The Report is from Bill Redpath.  There is an associated document, which we have uploaded.  Page numbers refer to that document.

Due to Joint Fundraising Committee (JFC) impacts on the financial statements on Pages 5, 9 & 10 (because of Cash that is included that will be expended on liabilities of the Kennedy Victory Fund), it is best to focus on the balance sheet data at the bottom of Page 3. Once all JFC-raised funds have been expended by the LNC, there will be no difference between the Page 3 balance sheet and the more detailed balance sheet.

The current Cash situation remains quite good due to the closing of the sale of the office building in Alexandria, VA in August 2025. Total Cash (net of any Joint Fundraising Committee liabilities) was $786,166, up from $743,856 at 10/31/2025.

Also on the November month end balance sheet, Accounts Payable and the Credit Cards Liability remain very low, and there was little change in Accrued Expenses & Liabilities.

The November 2025 income statement is summarized on Page 4, with greater income statement detail on Pages 6, 7 & 8. Overall, it was possibly the best month of 2025 financially for the LNC.
Total Revenue for November was $97,909, which was above the budgeted amount of $85,000. Total revenue for January through November 2025 was $851,797, or 82% of the budgeted amount of $1,035,000.

November Expenses totaled $72,356, which was 82% of the budgeted amount of $88,570. YTD Expenses through November totaled $950,059, which was 93% of the budgeted amount of $1,022,720.

The LNC had a Net Income of $25,553 in November 2025, which is the highest monthly Net Income YTD in 2025. YTD through November Net Income was -$98,262, but would have been -$16,030, but for the non-cash accounting loss on the sale of the building.

FEC reports have been filed on a timely basis by Paula Edwards, the LNC’s FEC consultant, and all other FEC inquiries have been answered on a timely basis.
Bill Redpath, LNC Treasurer