The fourth quarter was the culmination of our year’s efforts, characterized by high programmatic activity. While the numbers show a net operating loss for these three months, this is a sign of success, not weakness. This spending was fully intentional and represents our commitment to putting our resources to work for the Esperanto community.
Our excellent financial performance earlier in the year allowed us to fund our flagship publication, the US Good Film Festival (UBFF), and the new grant process for local groups without risking our stability. We ended 2025 as an organization that doesn’t just collect funds, but effectively deploys them for its mission.
Investment Performance & Liquidity
Investments: Our Morgan Stanley portfolio reached a significant milestone, closing the year at $588,032. The E-USA accounts grew by ~$12% just in the last quarter. Despite our high activity in Q4, these investments provide long-term stability and a solid foundation for growth in 2026.
The Reed Trust (which E-USA administers) also saw modest growth despite it’s quarterly withdrawals. Next year, we’re excited to share that the full, planned income for the trust will again support NASK (the North American Summer Course). NASK will also again coincide with the Landa Kongreso making it easier for people to attend both — more to come on that!
Liquidity: We ended the year in a strong cash position with $17,320 in immediate liquid bank accounts. We also successfully moved the $50,000 restricted gift from Danielle Power to a high-interest, flexible CD. This kind of account earns a higher interest rate ensuring that it grows while remaining available for future cultural program usage.
Plan vs. Actual: A Successful Year-End Balance
Here is the comparison for our Q4 performance:
- Income: $7,967 (Planned: $37,114)
- Expenses: $34,015 (Planned: $36,337)
- Net Result: -$26,048 (Planned: +$777)
Takeaway: The revenue variance is due to the fact that we met our major income targets earlier in the year than expected. Because of our strong fundraising in Q2 and Q3, we were able to focus on programmatic delivery in Q4. We stayed within our expense budget and successfully weathered some unexpected timing-related challenges (like two issues of Usona Esperantisto hitting us in one quarter).
Full-Year Budget Analysis: A Model of Stability
Taking the full year into view, Esperanto-USA demonstrated remarkable resilience and efficiency. The full-year performance was strongly positive, ending the year with a net surplus of $14,493. This success is a direct result of our strategy to secure income early and then wisely invest those funds into member services.
Our discipline allowed us to finish the year with total expenses significantly lower than the full-year projection, even with the high Q4 activity. This positions us perfectly for the ambitious projects ahead in 2026.
Administrative Actions
During Q4, we didn’t just spend on programs; we strengthened our internal structure:
- Chart of Accounts: We implemented a more modern system for 2026 for even more transparent reporting to our members.
- Shipping Classification: We refined our cost tracking for better efficiency.
- 2026 Planning: At the beginning of December, we successfully finalized the 2026 budget process, ensuring our future financial priorities are clearly defined and ready for immediate implementation.
Looking Forward
We close 2025 in our strongest financial position in recent history. Because of our successful work, the Board is now moving forward with:
- Restarting the E-USA Publishing Department.
- Expanding into grant writing to secure even larger projects.
- Increasing staff support for our programs and the upcoming Landa Kongreso.