The financial condition of the Foundation remains strong. A complete financial report is available in the Foundation office.
Balance Sheet as of December 31, 2016 2015
Cash & Accounts Receivable $104,223 $ 99,127
Honor/Memorial Fund 8,386 8,036
Prepaid Expenses 1,318
*Endowment Fund 612,797 __594,189
Total Assets $726,724 $701,352
LIABILITIES AND CAPITAL
Payroll Taxes Payable $ 1,892 $ 1,598
Deferred Revenue 50,852 24,410
Total Liabilities 52,744 26,008
Balance Beginning of Year 675,344 742,816
Grants Distributed (139,135) (110,584)
Net Income for the year ended December 31, 137,771 43,112
Total Capital 673,980 675,344
Total Capital and Liabilities $726,724 $701,352
Summary of Operations
Twelve Months Ended December 31, 2016 2015
Gross Fund-Raising Revenues $193,196 $201,327
Less Direct Costs of Events 90,558 __98,756
Net Fund Raising Income 102,608 102,571
Other Revenues and Contributions
Membership Contributions 64,062 32,535
Endowment Contributions 275 175
Honor/Memorial Fund Donations 7,180 8,305
Endowment Fund Gains (Losses) 34,832 (28,479)
Interest and Dividends 7,974 7,426
Total Net Revenues 216,931 122,533
Salaries, Benefits & Services 64,591 66,082
Supplies, Printing and Mailings 9,064 8,669
Office Rent to PG&CC 1,200 1,200
Insurance, Licenses & Permits 4,305 3,470
Total Expenditures 79,160 79,421
NET INCOME $137,771 $ 43,112
*Endowment Fund Summary
Fund Balance - Beginning of Year $594,189 $615,074
Contributions 100 175
Net Investment Income 7,968 7,419
Net Realized & Unrealized Gains (Losses) 34,832 (28,479)
Fund Balance End of Year $612,797 $594,189
The 2018 Impact Grant was awarded to Literacy Volunteers of South Sarasota County. President Bob Hayden and the Impact Grant Committee presented the grant check to Joe Pokorney, LVSSC President, and Claudia Daniels, grant writer and Board Member.
The award of $19,271, will be used to fund a Study-Lab Program located in the Family Services Center, North Port, FL. This location brings together a variety of social service agencies that provide assistance to those who need it.
A dedicated study-lab will provide a safe and welcoming space for students to meet with tutors, utilize computer equipment, and attend classes. The number of students has increased 73% from 2010 to 2017. LVSSC has helped 343 students from 48 different countries in 2016/2017.
The 2017 Impact Grant awarded to Habitat for Humanity South Sarasota County is presented to Aimee Holmes, Chief Develpment Officer.
The Foundation has generously partnered with Habitat to lauch a new home revitalization program, A Brush with Kindness. The award of $16,000, along with paint donated by Sherwin Williams, will be used to paint one home per month for a qualified homeowner. This is a one-year program that will benefit income-qualified homewoners in need. It is Habitat's intent to help South Sarasota's most vulnerable population revitalize their homes with pride and dignity.
The Englewood Community Care Clinic, Inc. dedicated the beginning of its compact new laboratory to the Plantation Community Foundation. Members of the Foundation's Impact Grant Committee, Foundation Board Members, Clinic volunteers and the Executive Director attended a ribbon cutting ceremony. The Clinic plans to add equipment to its lab with the remaining $12,000 in funds from the grant.