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

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

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)