Financial information for the SPC Foundation
Impact
Contributions
$8,662,135
Scholarships
$2,468,548
Grants
$2,056,344
Statement of Net Position
As of Dec. 31, 2022 and 2021
ASSETS
2022
2021
Cash and Cash Equivalents
$4,642,767
$3,119,956
Unconditional Promise to Give
1,489,407
1,066,000
Other Assets
27,649
27,649
Investments
69,081,034
100,104,389
Total Assets
$75,240,857
$104,317,994
LIABILITIES AND NET POSITION
Total Liabilities
-
-
NET POSITION
Unrestricted
$4,651,204
$4,738,924
Restricted
Nonexpendable
34,727,558
33,951,837
Expendable
35,862,095
65,627,233
Total Net Position
$75,240,857
$104,317,994
Total Liabilities and Net Position
$75,240,857
$104,317,994
Statement of Revenues, Expenses and Change in Net Position
For the years ending Dec. 31, 2022 and 2021
SUPPORT AND REVENUE
2022
2021
Contributions
$8,662,135
$8,102,015
Net Unrealized & Realized Gains(Losses) on Investments
(17,865,385)
10,322,690
Interest and Dividends
300,362
47,725
Other Revenues
-
13,869
Total Support & Revenue
$(8,902,888)
$18,472,431
EXPENSES
Scholarships
$2,468,548
$2,288,138
Grants to St. Petersburg College
2,056,344
1,759,608
Total Program Expenses
$4,524,892
$4,047,747
Administrative and Fundraising Expenses
Administrative Expenses
$537,474
$708,774
Fundraising Expenses
879,190
760,434
Total Administrative & Fundraising Expenses
$1,416,664
$1,469,208
Total Expenses
$5,941,556
$5,516,955
Change in Net Position
$(29,077,136)
$12,955,476
Nonoperating transfer to ISPS -
14,232,693
-
NET POSITION
NET POSITION, beginning of year
$104,317,994
$91,362,518
NET POSITION, end of year
$75,240,857
$104,317,994
