FISCAL YEAR 2021-2022 FINANCIALS
STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
FY2022
FY2021
NET ASSETS, BEGINNING
$17,712,425
$14,069,458
OPERATING REVENUES
Gifts
3,229,492
1,948,496
Total Operating Revenues
3,229,492
1,948,496
OPERATING EXPENSES
Instruction
94,552
155,625
Academic Support
1,163,243
1,056,158
Student Services
176,056
221,416
Institutional Support
303,030
304,956
Student Aid
1,279,271
1,114,726
Total Operating Expenses
3,016,152
2,852,881
Operating (Loss) Surplus
(213,340)
(904,385)
NON-OPERATING REVENUES
Gifts from Community College of Philadelphia Foundation
(375,000)
(12,100)
Non-governmental Grants and Contracts
1,459,752
1,391,006
Net Investment Income
(2,234,028)
3,168,446
Net Non-operating (Loss) Revenues
(1,149,276)
4,547,352
Increase (Decrease) in Net Assets
(935,936)
3,642,967
NET ASSETS, ENDING
$16,776,489
$17,712,425
STATEMENT OF NET POSITION
FY2022
FY2021
ASSETS
Current Assets
Cash and Cash Equivalents*
2,474,668
1,452,851
Short-Term Investments*
2,098,728
1,880,952
Accounts Receivable, net
5,619
80,072
Other Assets
5,250
7,854
Total Current Assets
4,584,265
3,421,729
Non-Current Assets
Endowment Investments*
13,250,752
15,562,198
Total Non-Current Assets
13,250,752
15,562,198
Total Assets
17,835,017
18,983,927
LIABILITIES AND NET POSITION
Current Liabilities
Accounts Payable and Accrued Liabilities*
249,467
869,020
Deposits
2,081
1,931
Unearned Revenue
769,542
356,577
Total Current Liabilities
1,021,090
3,642,967
Non-Current Liabilities
Annuity Payable
35,987
37,812
Total Non-Current Liabilities
35,987
37,812
Total Liabilitities
1,057,077
1,265,340
DEFERRED INFLOWS OF RESOURCES
1,451
NET POSITION
Restricted
Nonexpendable
Scholarships, Awards and Faculty Chair
11,384,911
13,244,521
Annuities
4,780
7,504
Expendable
Scholarships, Awards and Faculty Chair
3,093,292
2,323,305
Capital Projects
52,284
202,829
Unrestricted
2,241,222
1,934,266
TOTAL NET POSITION
$16,776,489
$17,712,425
*Accompanying notes, found in the audited financial statements, are an integral part of the financial statement and are available online at foundation.ccp.edu.