Princeton-Blairstown Center Annual Financial Report: January 1, 2015 through December 31, 2015 Fiscal year 2015 was a financially strong year, a period in which PBC continued to build its core mission and sound financial position. Net assets increased by 5%, due to strong investment gains combined with an operating surplus. The organization's surplus was achieved primarily through the careful management of operating expenses. These efforts provided resources for additional capital projects and for the launch and implementation of the Summer Bridge Program. Furthermore, overall revenue increased. PBC continued its trend of serving more youth, which resulted in an increase in program fees compared to the prior twelve months. This trend is expected to continue in the year ahead. Additionally, due to continued endowment management by Princeton University's Investment Company, PBC benefited from an increase in its endowment distribution. Finally, through hosting its first special event, growing the organization's donor pool, and increasing outreach to corporations and foundations, fundraising remained at the forefront of PBC's organizational priorities. This resulted in an increase in development income. PBC is following an ambitious road map as a leader in making a difference in the lives of at-risk youth, and we believe an essential ingredient to successfully achieving this goal is to continue to operate with a high level of effective financial planning and strategy. The organization's continued financial focus will ensure that it remains on a solid financial foundation, ensuring continued operational growth and success. -Timothy Downs, Treasurer Grants 11%
Special Events 2%
Other
Development 5%
Blairstown Program Fees 25%
Annual Giving 4%
Capital 7%
Administration 16%
Endowment Income-Received 58%
Program Services & Facilities 72%
Fiscal Year 2015
Bridge Year 2014
(audited-twelve months)
(audited-six months)
Income Blairstown Program Fees
$
596,863
$
441,254
Endowment Income Received*
$
1,377,825
$
613,004
Annual Giving**
$
88,316
$
82,810
Grants
$
255,987
$
108,748
Special Events
$
40,282
$
-
Other
$
5,421
$
444
$
2,364,694
$
1,246,260
Program Services & Facilities
$
1,514,427
$
848,313
Administration
$
344,980
$
196,264
Development
$
103,485
$
47,906
Capital
$
148,785
$
206,370
$
2,111,677
$
1,298,853
Total Income Expense
Total Expense
* Net unrealized gain/loss of Endowment Investment value is not included. **Includes in-kind donations of $30K in Bridge Year 2014. 4