Financials

JUNE 30, 2017 – JUNE 20, 2018

USE OF FUNDS

PROGRAMS

11%

GENERAL & ADMINISTRATIVE

89%

CONSOLIDATED STATEMENTS
OF FINANCIAL POSITION

ASSETS
2018
2017

Current Assets

 

 

Cash and Cash Equivalents

 

 

Unrestricted

$13,797,769

$18,083,445

Restricted

$1,675,647

TOTAL ASSETS

$13,797,769

$19,759,092

 

 

 

Grant and other receivables

$63,569

$25,043

Current portion of notes receivable

$54,673

$212,167

Prepaid expenses and other

$610,382

$537,597

Total Current Assets

$14,526,393

$20,533,899

 

 

 

Investments

$11,153,843

$3,147,826

Non-current portion of notes receivable

$3,518,000

$3,802,058

Property and equipment, net

$27,190,979

$28,870,179

Deferred rent receivable

$366,033

$101,794

 

 

 

Other assets

$289,739

$296,150

 

 

 

Total Assets

$57,044,987

$56,751,906

LIABILITIES & NET ASSETS

Current Liabilities

 

 

Accounts payable and other accounts

$608,070

$726,683

Accrued salaries and related expenses

$1,715,287

$1,598,314

Current portion of notes payable, net

$5,859,026

$802,196

 

 

 

Total current liabilities

$3,182,383

$3,127,193

 

 

 

Interest rate swap liability

$269,501

$455,244

Accrued postretirement benefit

$366,256

$350,904

Deposit

$29,557

$29,557

Non-current portion of nones payable, net

$24,259,656

$25,118,684

 

 

 

Total liabilities

$36,289,736

$32,208,775

 

 

 

Net assets

 

 

Unrestrticted

$28,824,761

$27,603,577

Temporarily restricted

$112,873

$66,746

 

 

 

Total net assets

$28,937,634

$27,670,323

 

 

 

Total liabilities and net assets

$57,044,987

$56,751,906

CONSOLIDATED STATEMENT
OF ACTIVITIES

ASSETS
UNRESTRICTED
TEMPORARILY
RESTRICTED
TOTAL

Revenue and Support

 

 

 

Charter per pupil allotment

 

 

 

Regular

$20,215,075

$20,215,075

Facilities

$6,704,728

$6,704,728

 

 

 

 

TOTAL REVENUE AND SUPPORT

$26,919,803

$46,127

$46,127

 

 

 

 

Grants and Contributions

 

 

 

Federal grants

$119,784

$119,784

State grants

$16,000

$16,000

Contributions

$100,452

$138,575

$239,027

In-kind support

$16,403

$16,403

 

$252,639

$138,575

$391,214

 

 

 

 

Program service - rental income

$732,067

$732,067

Cafeteria sales

$453,943

$453,943

Other income

$219,789

$219,789

Net assets released from restrictions

$92,448

(92,448)

 

 

 

 

Total revenue and support

$28,670,689

$46,127

$28,716,816

 

 

 

 

Expenses

 

 

 

Educational Programs

$19,534,772

$19,534,772

Program services - rental operations

$4,556,429

$4,556,429

Community outreach

$6,034

$6,034

General and administrative

$3,420,579

$3,420,579

Fundraising

$123,453

$123,453

 

 

 

 

Total expenses

$27,641,267

$27,641,267

 

 

 

 

Changes in net assets from operations

$1,029,422

$1,029,422

 

 

 

 

Non-operating activity

 

 

 

Change in interest rate swap liability, net

$185,743

$185,743

Investment return, net

$6,019

$6,019

 

 

 

 

Change in net assets

$1,221,184

$46,127

$1,267,311

 

 

 

 

Net assets, beginning of year

$27,603,577

$66,746

$27,670,323

 

 

 

 

Net assets, end of year

$28,824,761

$112,873

$28,937,634