SPC Foundation Financial Information
Impact
Contributions
$8,662,135
Scholarships
$2,468,548
Grants
$2,056,344
Statement of Net Position
As of Dec. 31, 2023 and 2022
ASSETS
2023
2022
Cash and Cash Equivalents
$4,680,620
$4,642,767
Unconditional Promise to Give
524,984
1,489,407
Other Assets
-
27,649
Investments
85,092,656
69,081,034
Total Assets
$90,298,260
$75,240,857
LIABILITIES AND NET POSITION
Total Liabilities
-
-
NET POSITION
Unrestricted
$5,122,174
$4,651,204
Restricted
Nonexpendable
37,461,610
34,727,558
Expendable
47,714,476
35,862,095
Total Net Position
$90,298,260
$75,240,857
Total Liabilities and Net Position
$90,298,260
$75,240,857
Statement of Revenues, Expenses and Change in Net Position
For the years ending Dec. 31, 2022 and 2021
SUPPORT AND REVENUE
2023
2022
Contributions
$7,908,481
$8,662,135
Net Unrealized & Realized Gains(Losses) on Investments
13,592,074
(17,865,385)
Interest and Dividends
481,718
300,362
Total Support & Revenue
$21,982,273
$(8,902,888)
EXPENSES
Scholarships
$2,722,428
$2,468,548
Grants to St. Petersburg College
2,619,848
2,056,344
Total Program Expenses
$5,342,276
$4,524,892
Administrative and Fundraising Expenses
Administrative Expenses
$566,125
$537,474
Fundraising Expenses
1,016,469
879,190
Total Administrative & Fundraising Expenses
$1,582,594
$1,416,664
Total Expenses
$6,924,871
$5,941,556
Nonoperating transfer to ISPS
-
14,232,693
Change in Net Position
$15,057,402
$(29,077,136)
NET POSITION
NET POSITION, beginning of year
$75,240,857
$104,317,994
NET POSITION, end of year
$90,298,260
$75,240,857
