Devereux has closed the books on fiscal year 2007, which ended on June 30, and it was an extraordinary year for Devereux.  A safer environment for our consumers and employees, a more stable workforce, wider support from our communities and financial success led to making this an excellent year.  Some of our specific organization-wide achievements included: 

  • The number of donors supporting Devereux at $1,000 or above during the year was above 750, exceeding the target by almost 10%.
  • Normalized operating earnings continued a positive four-year trend to the highest level in many years.
  • Risk management expenses were 20% below the annual target.
  • Employee turnover was below the annual target.

Strong financial results for fiscal year 2007 were primarily driven by outstanding Center operating results, more than $3,000,000 better than what was budgeted. Residential census grew significantly in the fourth quarter and this trend provides strong operating momentum going into fiscal year 2008.   

Almost $6 million in non-operating gain was provided by the sale of Pennsylvania real estate. Together with the strong operating results, this real estate gain enabled us to post what we believe is the highest excess of revenues over expenses in Devereux’s history.

Some other notable factors that led to our success include investment earnings that were slightly ahead of plan, but because of another strong performance by Devereux’s investment portfolio, unrealized gains increased by more than $8.8  million for the year. Also, a major bequest enabled Devereux to meet its 2007 fund raising goal. In addition, a major four-year commitment was received from the Marcus Foundation to support the expansion of Devereux’s Center for Effective Schools into the Atlanta School System.

The employment of the best and brightest is a good way to insure Devereux’s future and fiscal year 2007 was a very successful recruiting year for key Devereux positions. We filled four vacant center clinical director positions and two senior corporate clinical positions. Our national marketing capacity was enhanced by recruiting two senior professionals, one from inside Devereux and one from a major competitor, as well as several new center marketing directors. We were also able to attract a leading recruiting consultant to join Devereux, and most recently we added a very experienced finance and business development professional to lead the effort to market our intellectual properties.

During fiscal year 2007, we also developed and adopted a new mission statement and a statement of core values: 

Our Mission

Devereux changes lives and nurtures human potential.  We inspire hope, ensure well-being, and promote meaningful life choices.  Our mission is achievedthrough a wide range of services and supportsfor individuals and their families. 

Core Values 

We support a respectful and integrated team approach.We foster personal and professional growth of our staff.We develop innovative and effective solutions.We partner with families and communities.  

Together with the Strategic Plan developed in fiscal year 2006 and the Philosophy of Care developed in fiscal year 2005, we have a clearer sense of direction for Devereux’s long-term success, a direction that is supported by an ever widening range of stakeholders.

With key staff additions, our strong operating momentum, the sharply increased strength of our balance sheet and our clearly outlined strategic direction, we are very well positioned for the future. As we prepare to celebrate Devereux’s 95th anniversary, we will reflect on our commitment to fulfill Miss Devereux’s dreams for her clients. We must continually strive to be the Provider of Choice, the Employer of Choice, and the Charity of Choice.