Financial Update: Furlough Summary, Needs for 2024

Reggie and Karlee Nichols: October 2, 2023

Something to celebrate! 
 We have four major financial praises we want to share and give you freedom to happy dance with us!

  1. As a result of the generosity of our monthly and one-time donors, we were able to make our proposed 2023 desired budget! In fact, we were able to receive our anticipated 2023 one-time donations by the end of June, just before leaving for furlough. 
  2. While traveling this summer, we were able to receive enough funding to cover ALL of our furlough expenses!
  3. We gained FOUR new monthly donors for a total of $350 per month. 
  4. We received enough one-time donations to cover ALL of Harmony’s unexpected medical expenses for her hospital stay (that ended up NOT being reimbursed by our Stateside insurance) along with her upfront medical needs. 

Thank you SO much for journeying with us to make all of this possible!

Something to consider: We have six anticipated factors that have greatly impacted our family and ministry budgets. 

    1. As a result of Harmony’s diagnosis with Type 1 Diabetes, we will have an increase in our budget for medications, medical supplies,          and food needs. 

  2. Due to our insurance benefits in Iowa, in order to establish and maintain primary care in the state of Iowa, we anticipate an             
       additional 1-2 trips to Iowa annually to meet the insurance requirements and have her specialty care covered. 

   3. We are looking into purchasing private health insurance in Mexico, which was not previously necessary, as healthcare in Mexico is         comparatively much more affordable, but Harmony’s condition will play a big factor for local needs that will not be covered by our         Stateside insurance. 

   4. We have experienced about a 5% general inflation in Mexico (compared to about 8% in the U.S.).

   5. In 2023, the exchange rate of the dollar to Mexican peso has fluctuated, causing a 13% decrease in value, meaning our donations     
       that we receive from the States has taken a huge hit. 

Would you consider partnering with us monthly or increasing your monthly amount?