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