FINANCIALS
STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
Community College of Philadelphia Foundation
FY2024
FY2023
NET ASSETS, BEGINNING
$18,950,7159
$16,776,489
OPERATING REVENUES
Gifts
2,482,975
2,759,716
Total Operating Revenues
2,482,975
2,759,716
OPERATING EXPENSES
Instruction
218,927
51,663
Academic Support
1,536,142
1,348,404
Student Services
380,664
359,256
Institutional Support
472,877
525,709
Student Aid
1,794,501
1,703,824
Total Operating Expenses
4,403,111
3,988,856
Operating (Loss) Income
(1,920,136)
(1,229,140)
NON-OPERATING REVENUES
Gifts from Community College of Philadelphia Foundation
183,273
Non-governmental Grants and Contracts
2,217,840
1,885,445
Net Investment Gain
2,203,190
1,517,921
Other nonoperating revenues (expenses)
442,307
(183,273)
Net Nonoperating Revenues (Expenses)
4,863,337
3,403,366
Increase (Decrease) in Net Position
2,943,201
2,174,226
NET ASSETS, ENDING
$21,893,916
$18,950,715
STATEMENT OF NET POSITION
Community College of Philadelphia Foundation
ASSETS
FY2024
FY2023
CURRENT ASSETS
Cash and Cash Equivalents
3,038,032
3,449,807
Short-Term Investments
3,271,095
2,645,698
Accounts Receivable, net
6,858
4,594
Other Assets
Total Current Assets
6,315,985
6,100,099
NON-CURRENT ASSETS
Endowment Investments
16,607,286
14,633,301
Total Non-Current Assets
16,607,286
14,633,301
Total Assets
22,923,271
20,733,400
LIABILITIES AND NET POSITION
CURRENT LIABILITIES
Accounts Payable and Accrued Liabilities
188,259
620,364
Deposits
1,931
1,931
Unearned Revenue
800,153
1,122,297
Total Current Liabilities
990,343
1,744,592
NONCURRENT LIABILITIES
Annuity Payable
31,474
33,817
Total Non-Current Liabilities
31,474
33,817
Total Liabilitities
1,021,817
1,778,409
DEFERRED INFLOWS OF RESOURCES
Deferred inflows
7,538
4,276
NET POSITION
Net investment in capital assets
Restricted:
Nonexpendable
Scholarships, Awards and Faculty Chair
14,161,648
12,602,890
Annuities
9,277
6,408
Expendable
Scholarships, Awards and Faculty Chair
3,795,063
2,936,366
Capital Projects
376,044
178,679
Unrestricted
3,551,884
3,226,372
TOTAL NET POSITION
21,893,916
18,950,7159
STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
Community College of Philadelphia
FY2024
FY2023
NET ASSETS, BEGINNING
44,748,855
18,463,463
OPERATING REVENUES
Student Tuition
43,275,175
41,675,886
Student Fees
14,005,439
13,372,548
Less: Scholarship Allowance
(36,662,363)
(31,801,174)
Net Student Tuition and Fees
20,618,251
23,247,260
Auxiliary Enterprises
933,921
827,375
Gifts
2,482,975
2,759,716
Other Sources
94,114
35,366
Total Operating Revenues
24,129,261
26,869,717
OPERATING EXPENSES
Educational and General:
Instruction
56,414,637
49,948,498
Public Service
35,650
21,131
Academic Support
19,623,188
16,672,140
Student Services
22,311,939
20,177,492
Institutional Support
22,747,250
21,672,378
Physical Plant Operations
13,910,537
15,689,531
Depreciation
10,182,716
8,312,869
Student Aid
12,545,591
13,256,393
Auxiliary Enterprises
381,300
476,325
Total Operating Expenses
158,152,808
146,226,757
Operating (Loss) Income
(134,023,547)
(119,357,040)
NONOPERATING REVENUES (EXPENSES)
Commonwealth Appropriations
34,343,287
33,561,416
City Appropriations
48,042,033
40,637,106
Federal Grants and Contracts
43,187,004
40,560,236
Commonwealth Grants and Contracts
6,280,382
5,721,710
Nongovernmental Grants and Contracts<
5,254,161
4,145,044
Net Investment Gain (Loss)
9,150,624
5,331,387
Interest on Capital Asset-related Debt Service
(2,364,711)
(3,412,054)
Other Nonoperating Revenues
6,151,028
4,580,862
Net Nonoperating Revenues (Expenses)
150,043,808
131,125,707
Gain (Loss) Before Other Revenues, Expenses, Gains or Losses
16,020,261
11,768,667
Capital Appropriations
24,688,807
14,516,725
Increase (decrease) in Net Position
40,709,068
26,285,392
NET POSITION, ENDING OF THE YEAR
85,457,923
44,748,855
The full 2023-2024 financial statements for the College and Foundation are available online at https://myccp.online/controller/forms-resources.