About WREN’s Financial Situation

Why is WREN short of cash?

WREN, despite its 23 years of success, always feels a cash pinch in the first half of the year because a large percentage of WREN’s operating cash comes from its retail stores and gallery sales. Over the last year, our retail and gallery sales have been lagging behind our expectations.

Doesn’t WREN have any operating reserves?

WREN used its operating reserves on the ambitious, but ultimately unsustainable, creation of a Maker’s Studio in Berlin. We ceased operations there once reserves had been depleted.

Can’t WREN borrow the money?

No, WREN has already exhausted its available line of credit.

Will $50,000 be enough?

We believe it will. This amount is based on “worst case” projections for retail and gallery sales and strict limits on spending. Of course, there could be unfortunate surprises, but we feel as certain as we can be that $50,000 will meet the need.

What will happen if WREN can’t raise all the money?

WREN will use the money it raises to continuing operating as long as possible, but without the full $50,000, only those programs which have already been funded through grants will continue beyond April 15th.

Does WREN have a plan for the long term?

Yes. Anticipating the challenges of 2018, we have been engaged in significant restructuring efforts over the last six months. These efforts have taken root and are beginning to yield their intended results, but WREN needs more time to fully turn the corner and stabilize our financial position. This cash infusion buys us that time.

Prepared March 28, 2018.