FIN A N C I A L S
ASSETS
CHANGES IN UNRESTRICTED NET ASSETS
2016 2015
Prepaid expenses $ 11,942,634
$ 54,336
$ 1,089
$ 272,366 $ 10,256,230
$ 469,380
$ 97,505
$ 366,971
TOTAL CURRENT ASSETS $ 12,270,425 $ 11,190,086
Investments Deposits $ 3,142,281
$ 20,590,820
$ 1,578,624
$ 433,509
$ 127,440 $ 3,058,415
$ 22,211,347
$ 1,578,624
$ 1,570,324
$ 127,440
TOTAL ASSETS $ 38,143,099 $ 39,736,236
Cash and cash equivalents
Due from Community Capital Corporation
30
Grant and other receivables
Property and equipment, net
Facility repair and improvements reserve fund
11%
General and
Administrative
2015
$ 17,040,171
$ 6,302,357
$ 23,342,528 $ 17,010,463
$ 5,904,001
$ 23,000,863
$ 199,124
$ 448,234
$ 240,341
$ 95,969 $ 256,862
$ 389,900
$ 198,138
23,922
$ 24326196 $ 23,869,685
$ 77,400 8,707
$ 24,403,596 $ 23,878,392
$ 20,287,125
$ 3,311,501
$ 143,138
R E V E N U E A N D S U P P O RT
CURRENT ASSETS
U SE O F
FUNDS
2016
Other assets
Charter per pupil allotment
Regular
Facilities
Grants and contributions
Culinary arts sales
Student fees and other income
Investment income
TOTAL REVENUE AND SUPPORT
Net assets released from restrictions
TOTAL REVENUE, SUPPORT AND OTHER INCREASES
EXPENSES
LIABILITIES AND NET ASSETS
2016 2015 $ 424,930
$ 2,525,047
-
$ 33,311
$ 130,619 Fundraising TOTAL EXPENSES $ 25,037,379 $ 23,741,764
$ (633,783) $ 136,628
Current portion of capital lease obligations $ 151,945
$ 1,533,287
$ 557,491
$ 27,940
$ 133,272 $ 22,197,321
$ 2,765,700
$ 74,358 TOTAL CURRENT LIABILITIES $ 2,403,935 $ 3,113,907 Contributions $ 2,344,776
$ 13,179,592
$ 289,868 Net assets released from restrictions $ 142,563
$ (8,707)
(Decrease) Increase in temporarily restricted net assets $ (30,205) $ 133,856
Other liabilities $ 2,195,434
$ 13,046,319
$ 353,306 $ 47,195
$ (77,400) $ (663,988) $ 270,484
TOTAL LIABILITIES $ 17,998,994 $ 18,928,143 Net assets, beginning of year $ 20,808,093 $ 20,537,609
Net assets, beginning of year $ 20,144,105 $ 20,808,093
$ 20,040,454 $ 20,674,237 $ 103,651 $ 133,856 TOTAL NET ASSETS $ 20,144,105 $ 20,808,093 TOTAL LIABILITIES AND NET ASSETS $ 38,143,099 $ 39,736,236
CURRENT LIABILITIES
Accounts payable
Accrued salaries and related expenses
Due to Community Capital Corporation
Deferred revenue
Deferred rent
Capital lease obligations
Educational programs
NET ASSETS
Unrestricted
Temporarily restricted
General and administrative
(Decrease) increase in unrestricted net assets
CHANGES IN TEMPORARILY RESTRICTED NET ASSETS
Change in net assets
31
89%
Program
STATEM ENTS OF A C TIV ITIES
Y EA RS ENDED JUNE 30, 2016 A ND 2015
STAT E ME N T S O F F I N AN CI AL POSI T ION
JU N E 3 0 , 2 0 1 6 AN D 2 0 1 5