FISCAL YEAR 2022-2023 FINANCIALS
STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
Community College of Philadelphia Foundation
FY2023
FY2022
NET ASSETS, BEGINNING
$16,776,489
$17,712,425
OPERATING REVENUES
Gifts
2,759,716
3,229,492
Total Operating Revenues
2,759,716
3,229,492
OPERATING EXPENSES
Instruction
51,663
94,552
Academic Support
1,348,404
1,163,243
Student Services
359,256
176,056
Institutional Support
525,709
303,030
Student Aid
1,703,824
1,279,271
Total Operating Expenses
3,016,152
2,852,881
Operating (Loss) Income
(1,229,140)
213,340
NON-OPERATING REVENUES
Gifts from Community College of Philadelphia Foundation
183,273
(375,000)
Non-governmental Grants and Contracts
1,885,445
1,459,752
Net Investment Income
1,517,921
(2,234,028)
Other nonoperating revenues (expenses)
(183,273)
Net Nonoperating Revenues (Expenses)
3,403,366
(1,149,276)
Increase (Decrease) in Net Position
2,174,226
(935,936)
NET ASSETS, ENDING
$18,950,715
$16,776,489
STATEMENT OF NET POSITION
Community College of Philadelphia Foundation
ASSETS
FY2023
FY2022
CURRENT ASSETS
Cash and Cash Equivalents
3,449,807
2,474,668
Short-Term Investments
2,645,698
2,098,728
Accounts Receivable, net
4,594
5,619
Other Assets
5,250
Total Current Assets
6,100,099
4,584,265
Non-Current Assets
Endowment Investments
14,633,301
13,250,752
Total Non-Current Assets
14,633,301
13,250,752
Total Assets
20,733,400
17,835,017
LIABILITIES AND NET POSITION
Current Liabilities
Accounts Payable and Accrued Liabilities
620,364
249,467
Deposits
1,931
2,081
Unearned Revenue
1,122,297
769,542
Total Current Liabilities
1,744,592
1,021,090
Non-Current Liabilities
Annuity Payable
33,817
35,987
Total Non-Current Liabilities
33,817
35,987
Total Liabilitities
1,778,409
1,057,077
DEFERRED INFLOWS OF RESOURCES
Deferred inflows
4,276
1,451
NET POSITION
Net investment in capital assets
Restricted:
Nonexpendable
Scholarships, Awards and Faculty Chair
12,602,890
11,384,911
Annuities
6,408
4,780
Expendable
Scholarships, Awards and Faculty Chair
2,936,366
3,093,292
Capital Projects
178,679
52,284
Unrestricted
3,226,372
2,241,222
TOTAL NET POSITION
$18,950,715
$16,776,489
STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
Community College of Philadelphia
FY2023
FY2022
NET POSITION,
BEGINNING OF THE YEAR
(3,611,095)
(3,611,095)
OPERATING REVENUES
Student Tuition
41,675,886
40,095,515
Student Fees
13,372,548
12,980,387
Less: Scholarship Allowance
(31,801,174)
(28,317,311)
Net Student Tuition and Fees
23,247,260
24,758,591
Auxiliary Enterprises
827,375
113,491
Gifts
Other Sources
35,366
13,111
Total Operating Revenues
24,110,001
24,885,193
OPERATING EXPENSES
Educational and General:
Instruction
49,896,835
54,724,928
Public Service
21,131
38,912
Academic Support
15,323,736
16,437,063
Student Services
19,818,236
20,964,135
Institutional Support
21,146,669
36,592,032
Physical Plant Operations
15,675,366
14,805,723
Depreciation
7,197,810
7,609,743
Student Aid
11,552,569
36,950,953
Auxiliary Enterprises
476,325
415,573
Total Operating Expenses
141,108,677
188,539,062
Operating (Loss) Income
(116,998,676)
(163,653,869)
NONOPERATING REVENUES (EXPENSES)
Commonwealth Appropriations
33,561,416
32,340,889
City Appropriations
40,637,106
37,171,793
Federal Grants and Contracts
40,560,236
105,570,528
Gifts from Community College of Philadelphia Foundation
66,727
375,000
Commonwealth Grants and Contracts
5,721,710
5,718,799
Nongovernmental Grants and Contracts
2,259,599
1,948,463
Net Investment Gain (Loss)
3,813,466
(3,893,874)
Interest on Capital Asset-related Debt Service
(2,928,699)
(3,319,635)
Other Nonoperating Revenues
1,149,142
950,078
Net Nonoperating Revenues (Expenses)
124,840,703
176,862,041
Gain (Loss) Before Other Revenues, Expenses, Gains or Losses
7,842,027
13,208,172
Capital Appropriations
14,516,725
11,547,612
Increase (decrease) in Net Position
22,358,752
24,755,784
NET POSITION, ENDING OF THE YEAR
18,747,657
(3,611,095)
The full 2022-2023 financial statements for the College are available online at https://myccp.online/controller/forms-resources.