Fiscal Year 2021–2022 Financials

2021-2022 ANNUAL REPORT
Funds Raised

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.