MORE FREEDOM PER DOLLAR
America the Beautiful remains the finest nation the world has known.
As an ex-Wall Street banker, it is my belief that the return on every donated dollar at First Liberty is a return on invested capital worth noting. Our ability to use digital technology, advanced educational and learning techniques, novel legal strategies, and disruptive innovation throughout our firm are fundamentally altering the way we defend your rights. Telling our clients’ stories and defending them are critical to liberty. I am excited about the future and for what we can accomplish together to make a difference for them and for future generations. Thank you again for the trust you place with us, and your gracious contributions. They make an enormous difference. We will need your continuing, prayerful support in the coming year.
Blessed by God with unalienable rights, our forebearers fought with great sacrifice to build a republic rich with liberties and immeasurable resources. There are landmark religious liberty victories to cheer about this past year, and more cases on the horizon. Yet, the challenge before us all is to become the greatest generation for religious liberty in our history. Now, is the moment to stand boldly to defend our country’s faith traditions. There is hope, and it is from Above. As forecast in last year’s report, 2022 and 2023 would prove to be watershed years. The faithful have responded and are making a statement that religion is at the core of our country and is essential for our economic and national security well-being. Since we charge our clients no fees-for-service, it is because of your faithful donations, that I am pleased to report that the financial state of First Liberty Institute remains very sound. Our fiscal year ending June 30, 2023, ended with a remarkable record. Once our independent audit firm completes its work, FY22/23 will prove to be the second highest revenue period in our history. Expenses remain manageable. The drop in legal matters this past year (as shown on the graph to the right) normalizes the pandemic-inflated numbers witnessed during the previous two years. Addition- ally, the quality of the cases remained extraordinarily high. Our balance sheet expanded, and our liquidity reflects our positive net margin and stewardship.
Gratefully,
David K. Holmes Executive Vice President Chief Operating & Financial Officer
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