Fiscal Year 2020-2021 Financials

Fiscal Year 2002-2021 Financials
2020–2021 ANNUAL REPORT
 

STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION

 

FY2020

FY2021

NET ASSETS, BEGINNING

$13,386,670

$14,069,458

 

OPERATING REVENUES

 
 

Gifts

1,465,461

1,948,496

 

Total Operating Revenues

1,465,461

1,948,496

 

OPERATING EXPENSES

 
 

Instruction

109,062

155,625

Academic Support

1,159,053

1,056,158

Student Services

182,634

221,416

Institutional Support

642,882

304,956

Student Aid

791,771

1,114,726

 

Total Operating Expenses

2,887,402

2,852,881

 

Operating (Loss) Surplus

(1,421,941)

(904,385)

 

NON-OPERATING REVENUES

 
 

Gifts from Community College of Philadelphia Foundation

(95,000)

(12,100)

Non-governmental Grants and Contracts

1,713,173

1,391,006

Net Investment Income

486,556

3,168,446

 

Net Non-operating (Loss) Revenues

2,104,729

4,547,352

 

Increase (Decrease) in Net Assets

682,788

3,642,967

 

NET ASSETS, ENDING

$14,069,458

$17,712,425

 

STATEMENT OF NET POSITION

 

FY2020

FY2021

ASSETS

 
 
 

Current Assets

 
 

Cash and Cash Equivalents*

1,622,503

1,452,851

Short-Term Investments*

858,020

1,880,952

Accounts Receivable, net

308,190

80,072

Other Assets

5,758

7,854

 

Total Current Assets

2,794,471

3,421,729

 

Non-Current Assets

 
 

Endowment Investments*

12,369,001

15,562,198

Accounts Receivable, net*

41,701

 
 

Total Non-Current Assets

12,410,702

15,562,198

 

Total Assets

15,205,173

15,562,198

 

LIABILITIES AND NET POSITION

 
 
 

Current Liabilities

 
 

Accounts Payable and Accrued Liabilities*

838,980

869,020

Deposits

4,156

1,931

Unearned Revenue

280,063

356,577

 

Total Current Liabilities

682,788

3,642,967

 

Non-Current Liabilities

 
 

Annuity Payable

12,516

37,812

 

Total Non-Current Liabilities

12,516

37,812

 

Total Liabilitities

1,135,715

1,265,340

 

DEFERRED INFLOWS OF RESOURCES

6,162

 
 

NET POSITION

 
 

Restricted

 
 

Nonexpendable

 
 

Scholarships, Awards and Faculty Chair

10,137,142

13,244,521

Annuities

2,997

7,504

Expendable

 
 

Scholarships, Awards and Faculty Chair

2,168,423

2,323,305

Capital Projects

77,511

202,829

Unrestricted

1,683,385

1,934,266

 

TOTAL NET POSITION

$14,069,458

$17,712,425