SAE Financial Summary Presentation

  • Published on
    21-Jun-2015

  • View
    87

  • Download
    2

Embed Size (px)

DESCRIPTION

Presentation by: Joelle Maynard

Transcript

<ul><li> 1. Financial SummaryBoard RetreatSeptember 21, 20141</li></ul> <p> 2. Agenda Independent Accountants Financial Statements Fiscal Year 2014/Fiscal Year 2013 SAE Financials 101 Revenue &amp; Expense Breakdown Historical Financial Summary Net Asset / Reserve Building FY2015 Budget Forecast Appendix/Resources Annual Historical Trend Model FY2015 Budget Scoreboard Model2 3. Consolidated Financial Statements3 4. Statement of Financial Position4Seven Arrows Elementary School, Inc.Statements of Financial PositionJune 30, 2014 and 201322014 2013ASSETSCash (Note 3) $ 2,844,519 $ 2,551,053Accounts receivable 13,805 12,619Contributions receivable (Note 5) 27,000 74,105Prepaid expenses 4,178 26,585Property and equipment, net (Note 4) 301,666 264,972-DRAFT - NOT REVIEWED-FORMANAGEMENT ONLYTotal assets $ 3,191,168 $ 2,929,334LIABILITIESAccounts payable $ 33,464 $ 42,469Accrued salaries 112,575 102,730Deferred revenue 2,681,895 2,385,585Note payable (Note 6) 20,000 20,000Total liabilities 2,847,934 2,550,784COMMITMENTS AND CONTINGENCIES (Note 9)NET ASSETS:Unrestricted 316,234 303,915Temporarily restricted (Note 10) 27,000 74,635Total net assets 343,234 378,550Total liabilities and net assets $ 3,191,168 $ 2,929,334 5. Statement of Activities5Seven Arrows Elementary School, Inc.Statement of ActivitiesFor the Year Ended June 30, 2014(With Comparative Totals for the Year Ended June 30, 2013)3TemporarilyTotalUnrestricted Restricted 2014 2013REVENUETuition and fees $ 3,369,919 $ - $ 3,369,919 $ 3,356,131Financial aid (318,499) - (318,499) (183,480)Tuition and fees, net 3,051,420 - 3,051,420 3,172,651Contributions 410,214 11,000 421,214 566,377Fundraising events, net of expenses of $70,709 and-DRAFT - NOT REVIEWED-FORMANAGEMENT ONLY$87,742 for 2014 and 2013, respectively (Note 11) 320,400 16,000 336,400 160,319Field trip income 2,395 - 2,395 78,007After school/enrichment classes 42,085 - 42,085 43,019Student services, net of expenses of $339 for 2014 28,933 - 28,933 34,561Other income, net of expenses of $19,661 and$15,209 for 2014 and 2013, respectively 19,589 - 19,589 29,917Interest income 101 - 101 377Net assets released from restrictions 74,635 (74 ,635) - -Total revenue 3,949,772 (47,635) 3,902,137 4,085,228EXPENSESSalaries, benefits and payroll taxes 2,583,552 - 2,583,552 2,551,291Occupancy 437,790 - 437,790 410,035General and administrative 241,603 - 241,603 190,212Program expenses 162,441 - 162,441 140,462Insurance 86,712 - 86,712 90,722Depreciation 106,823 - 106,823 69,758Field trip expenses 58,725 - 58,725 69,726Professional fees 70,049 - 70,049 69,706Supplies 89,435 - 89,435 63,051Utilities and maintenance 51,866 - 51,866 49,889After school/enrichment classes 25,140 - 25,140 26,381Interest expense 1,250 - 1,250 1,250Other expenses 22,067 - 22 ,067 -Total expenses 3,937,453 - 3,937,453 3,732,483Increase in net assets 12,319 (47,635) (35,316) 352,745NET ASSETS Beginning of year 303,915 74,635 378,550 25,805NET ASSETS End of year $ 316,234 $ 27,000 $ 343,234 $ 378,550 6. Statement of Cash Flows6Seven Arrows Elementary School, Inc.Statements of Cash FlowsFor the Years Ended June 30, 2014 and 201352013 2012CASH FLOWS FROM OPERATING ACTIVITIES:Change in net assets $ (35,316) $ 352,745Adjustments to reconcile change in net assets tonet cash REVIEWED-FORprovided by operating activities:NOT DRAFT - -Depreciation 106,823 69,758Forgiveness of note payable - (5,000)Changes in assets and liabilities:MANAGEMENT ONLYAccounts receivable (1,186) 5,657Contributions receivable 47,105 (74,105)Prepaid expenses 22,407 (15,998)Accounts payable (9,005) 2,026Accrued salaries 9,845 27,466Deferred revenue 296,310 (107,783)Net cash provided by operating activities 436,983 254,766CASH FLOWS FROM INVESTING ACTIVITIES:Purchases of property and equipment (143,517) (58,267)Net cash used in investing activities (143,517) (58,267)NET INCREASE IN CASH 293,466 196,499CASH - Beginning of year 2,551,053 2,354,554CASH - End of year $ 2,844,519 $ 2,551,053 7. Understanding SAEs Financials7 8. Key Takeaways Tuition Covers ~ 75%-80% Auction/Giving/Fundraising ~20-25% Start Each Year with a Get of ~$700k Teacher/Staff Expense is ~70% of Revenue Small Size Has Many Benefits, But Not $cale Fundraising is a Crucial Element to Profitability Major Progress on Net Asset Position(Reserve) Over Past 5 Years8 9. Revenue Breakdown9 10. Sources of RevenueOther Income1%Tuition &amp; Fees80%Auction (Spring Fundraiser)4%Growth &amp; Enhancement3%Annual Giving10%Other Fundraising2%FY2014 10 11. Total Revenue Growth3,350,0893,726,7643,977,7513,871,66311 FY2011 FY2012 FY2013 FY20144,000,0003,900,0003,800,0003,700,0003,600,0003,500,0003,400,0003,300,0003,200,0003,100,0003,000,000 12. Tuition &amp; Fees2,579,2922,915,6663,227,8693,091,87412 FY2011 FY2012 FY2013 FY20143,500,0003,000,0002,500,0002,000,0001,500,0001,000,000500,000- 13. Total Fundraising721,218794,930716,345749,61413 FY2011 FY2012 FY2013 FY2014820,000800,000780,000760,000740,000720,000700,000680,000660,000 14. Historical Revenue Breakdown2,579,2922,915,6663,227,8693,091,874721,218794,930716,345 749,61449,579 16,169 33,537 30,17514 FY2011 FY2012 FY2013 FY20143,500,0003,000,0002,500,0002,000,0001,500,0001,000,000500,000-Tuition &amp; FeesTOTAL FUNDRAISINGOther Income 15. Expense Breakdown15 16. Sources of ExpenseWages/Benefits66%Technology3%Rent12%General Operating14%Insurance2%OtherExpense/Depreciation3%FY2014 16 17. Historical Operating Expense3,086,0233,418,9363,554,0483,798,50717 FY2011 FY2012 FY2013 FY20144,000,0003,500,0003,000,0002,500,0002,000,0001,500,0001,000,000500,000- 18. Wages &amp; Benefits2,122,5242,365,8932,551,2912,590,10818 FY2011 FY2012 FY2013 FY20143,000,0002,500,0002,000,0001,500,0001,000,000500,000- 19. General Operating416,448498,838411,027539,453FY2011 FY2012 FY2013 FY2014 19600,000500,000400,000300,000200,000100,000- 20. Rent406,663411,348441,077469,607FY2011 FY2012 FY2013 FY2014 20480,000460,000440,000420,000400,000380,000360,000 21. Technology73,85267,43659,881112,626FY2011 FY2012 FY2013 FY2014 21120,000100,00080,00060,00040,00020,000- 22. Insurance66,53675,42190,77286,712FY2011 FY2012 FY2013 FY2014 22100,00090,00080,00070,00060,00050,00040,00030,00020,00010,000- 23. Other/Depreciation71,62364,31971,008108,592FY2011 FY2012 FY2013 FY2014 23120,000100,00080,00060,00040,00020,000- 24. 24The Bottom Line 25. A Non-Profits ProfitsA non-profit organization (NPO) is an organization that uses surplus revenues to achieveits goals rather than distributing them as profits or dividends.While not-for-profit organizations are permitted to generate surplus revenues, they mustbe retained by the organization for its self-preservation, expansion, or plans.* SAE is a Non-Profit Organization Nomenclature for Non-Profits: Net Income = NetAssets Net Income or Profit for SAE Has Several Uses Establishing an Operating Reserve to Cover AnnualExpenses (as recommended by CAIS) Securing a Nest-Egg to Achieve Program Goals Saving for Possible Expansion25* Source: Wikipedia 26. Net Income Growth192,444243,509352,695(35,435)FY2011 FY2012 FY2013 FY2014 26400,000350,000300,000250,000200,000150,000100,00050,000-(50,000)(100,000) 27. 27Net Assets/Reserve Building 28. Historical Net Assets(cumulative figures)28500,000400,000300,000200,000100,000-(100,000)(200,000)Ending Net Assets(217,703)25,805378,550343,113FY2011 FY2012 FY2013 FY2014(300,000) 29. Net Assets as % of 6 mo. OperatingExpense291,709,4681,777,0241,899,254 1,905,33225,805378,550343,113383,8992,000,0001,500,0001,000,000500,000-6 mos Operating ExpenseEnding Net Assets2%FY2012 FY2013 FY2014 FY2015ReserveGoal:100%21% 18% 20% 30. FY2015 Revenue Forecast30 31. FY 2015 Key Revenue Drivers &amp;Assumptions Total Revenue Growth of 3% Tuition Revenue $3.33M or +8% 108 Full paying students, up from 103 in FY14 Raised tuition by 4% Fundraising Revenue - $622K or -17% Conservative Assumptions; Real Potential for Upside Auction down 19% Annual Giving flat Growth &amp; Enhancement flat on a gross basis31 32. FY2015 Total Revenue Growth323,871,6633,982,4624,000,0003,950,0003,900,0003,850,0003,800,0003,750,0003,700,0003,650,0003,600,0003,550,0003,500,000+ 3%FY2014 FY2015 33. FY2015 Tuition &amp; Fees3,091,8743,333,062FY2014 FY2015 333,400,0003,300,0003,200,0003,100,0003,000,0002,900,0002,800,000+ 8% 34. FY2015 Fundraising Revenue749,614621,500FY2014 FY2015 34800,000700,000600,000500,000400,000300,000200,000100,000--17% 35. FY2015 Other Income30,17527,90035 FY2014 FY201532,00030,00028,00026,00024,00022,00020,00018,00016,00014,000-8% 36. FY2015 Operating Expense Forecast36 37. Operating Expense Assumptions Total Operating Expense Flat with Prior Year Wages/Benefits $2.75M or +6% General Operating - $431K or -20% Prior Year includes Marketing spend (Website) Rent Flat Technology Down 42% after significantinvestment year Insurance Up 11%37 38. FY2015 Operating Expense383,798,5073,810,663FY2014 FY20153,800,0003,750,0003,700,0003,650,0003,600,0003,550,0003,500,000+ 0.3%flat 39. FY2015 Wages &amp; Benefits392,590,1082,748,639FY2014 FY20152,750,0002,700,0002,650,0002,600,0002,550,0002,500,0002,450,0002,400,0002,350,0002,300,000+ 6% 40. FY2015 General Operating40539,453430,836FY2014 FY2015600,000550,000500,000450,000400,000350,000300,000250,000200,000150,000100,00050,000--20% 41. FY2015 Rent41469,607 470,037FY2014 FY2015540,000490,000440,000390,000340,000290,000240,000190,000140,00090,00040,000+ 0.1%(flat) 42. FY2015 Technology42112,62665,000FY2014 FY2015120,000100,00080,00060,00040,00020,000--42% 43. FY2015 Insurance4386,71296,151FY2014 FY201594,00090,00086,00082,00078,00074,00070,000+ 11% 44. FY2015 Other/Depreciation44108,592131,012FY2014 FY2015130,000110,00090,000+ 20% 45. FY2015 Net Asset Growth45343,113383,899(35,437)FY2014 FY201540,786400,000350,000300,000250,000200,000150,000100,00050,000-(50,000)Ending Net AssetsChange in Net Assets+ 12% 46. Appendix Annual Historical Trend Model FY2015 Budget Scoreboard Model46 47. 47 48. 48 49. 49 50. 50 51. 51 52. 52Budget'ScoreboardSeven%Arrows%Elementary Budget%Est. Actual% BudgetAnnual%Budget%Summary FY2015% FY2014 FY2014 Discussion(ending%June) (ending%June) (ending%June)Other'MetricsStudents %%%%%%%%%%%%%%%%%%%%%1%22 %%%%%%%%%%%%%%%%%%%%1%19Full%Paying %%%%%%%%%%%%%%%%%%%%%1%08 %%%%%%%%%%%%%%%%%%%%1%03Full!Paying!as!%!of!Total 88.5% 86.6% 53. NOTES53 </p>

Recommended

View more >