SFCP Profit and Loss July 2012 - 2013

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SFCP Profit and Loss July 2012-2013

by Jeff Miller, Chief Operating Officer

The P&L shown below is the initial report for the fiscal year 2012-2013 that ended on June 30, 2013.  An audited version will be available later in this fiscal year.  We continue to operate a very tight budget and cash flow.  The majority of the net profit we show is the result of unpaid grant expenses to one of the Windholz Research Fund grantees.  This year we relied less on endowment funds to balance our budget taking $15K less than in the previous fiscal year. Without those funds and the funds SFCP receives for management of various funds in our investment portfolio we would be operating at a deficit.  The taking of these funds decreases our assets. I am working with the leadership to find ways to increase income and decrease expenses and end our dependency on our endowment to supplement operations.

Income

 
Membership Dues - Active
Membership Dues - Affiliate
Membership Dues - Community
Contributions & Gifts
Grant Income
Tuition
Readers
CE/CME Fees
Candidate Association fees
Other Program Fees
Book sales - proceeds
PEP/Block subscriptions - proceeds
Library service fees
Miscellaneous revenue
158,955.75
2,050.00
12,800.00
11,095.45
65,353.00
116,323.00
9,381.12
25,384.00
1,230.00
197,676.20
1,605.17
17,089.00
1,036.98
8,703.56
Total Income $ 628,683.23

Cost of Goods Sold

 
Readers - COGS
CE/CME - COGS
Book sales - COGS
10,740.87
6,794.00
1,955.20
Total Cost of Goods Sold $ 19,490.07

Gross Profit  

$ 609,193.16

Expenses

 
Awards & Grants
Salaries & Wages - Other
Employee Benefits
Payroll Taxes
Workers Compensation Insurance
Accounting & Bookkeeping
Audit fees
Legal & Professional Fees
Honoraria
Contract Services
Advertising & promotion
Information Technology
Supplies
Telephone
Web/Tele-conferencing
Program Marketing
Printing & Mailing
Rent
Utilities
Real Estate Taxes
Equipment Rental
Cleaning & Janitorial
Repairs & Maintenance
Travel & Lodging
Conferences & Meetings
Graduation
Refreshments
Bank Fees
Credit Card Fees
Insurance
Dues & Subscriptions
Books & Periodicals
Expense allowances
Other Expense
Uncategorized Expense
54,619.44
312,883.78
20,892.32
27,151.98
4,440.00
9,943.90
22,273.00
1,469.40
24,771.41
11,580.37
150.00
2,062.01
11,102.32
5,304.02
1,706.79
3,745.57
7,522.30
1,920.00
9,540.32
13,122.34
9,669.60
9,213.33
869.31
3,319.04
5,018.27
708.80
20,650.54
1,612.23
14,709.37
27,267.00
27,730.79
5,668.47
2,402.62
5,902.81
389.00
Total Expenses $ 681,332.45

Net Operating Income

- $ 72,139.29

Other Operating Income

 
Fund management fees
Endowment Draws
32,069.00
55,245.00
Total Other Income $ 87,314.00

Net Income

$ 15,174.71

 

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