Pasco-Hernando State College Annual Report 2017 | Page 31

MOMENTUM ... FOUNDATION REPORT Pasco-Hernando State College Foundation, Inc. Statement of Revenues, Expenses, and Changes in Net Assets PHSC Foundation, Inc. Management Summary of Operations for the year ended December 31, 2017 The PHSC Foundation has an important job ensuring that PHSC is a thriving institution. It accomplishes this by raising private funds from generous friends in the community and distributing those funds to the College’s area of greatest need. OPERATING REVENUES EXPENSES: PROGRAM SERVICES For The Year Ended December 31, 2017 Operating Revenues: EXPENSES: SUPPORT SERVICES 2017 Contributions 470,839 State Matching Grant Funds 70,000 Events/Sponsorships 104,440 In-Kind Contributions 356,885 Total Revenue 1,002,164 Expenses: Program Services: Scholarships Staff & Program Development 47% Contributions (470,839) 36% In-Kind Contributions (356,885) 10% Events/Sponsorships (104,440) 76% Scholarships (1,067,803) 24% Staff & Program Development (342,791) 7% State Matching Grant Funds (70,000) Total Revenue: 1,002,164 56% In-Kind (356,885) Total College Programs 34% Fundraising (216,267) 10% Administrative Expenses (60,354) 216,267 Administrative Expenses 60,354 470,839 356,885 104,440 70,000 1,067,803 342,791 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 501 In-Kind 356,885 Total Support Services 634,007 Total Expenses 1,000,000 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 1,410,594 Fundraising Depreciation Total Support Services: 634,007 Total Expenses: 2,044,601 550,000 500,000 450,000 400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 342,791 Support Services: 0% Depreciation (501) Total College Programs: 1,410,594 1,067,803 2,044,601 Pasco-Hernando State College Foundation, Inc. Statement of Revenues, Expenses and Changes in Net Assets for the year ended December 31, 2017 (Excerpt) 356,885 216,267 60,354 501 REQUESTS FOR INFORMATION This financial report is designed to provide a general overview of the Foundation’s finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to Lisa Richardson, Ed.D., Associate Vice President of Alumni and College Relations and Executive Director of the PHSC Foundation, Pasco-Hernando State College Foundation, 10230 Ridge Road, New Port Richey, FL 34654-5199.