Fiscal Year July 1, 2009 to June 30, 2010
In fiscal year 2010, The Fund for Public Schools raised $23.3 million to support initiatives of the New York City Department of Education. Spending for program services was approximately $24.6 million, down from $37.33 million in the previous fiscal year. Expenses supported system-wide reform efforts, arts, libraries, scholarships, and school-based programs.
Funds Raised for the NYC Department of Education
These numbers do not include funds raised to support the NYC Leadership Academy. From 2003 through 2009, The Fund sought and accepted contributions on behalf of the Leadership Academy, a separate nonprofit entity. These contributions were received by The Fund and transferred to the Leadership Academy. In keeping with accounting principles, the contributions received for the Leadership Academy are not included in the financial statements of The Fund.
Statement of Income and Expense for Fiscal Years 2010 and 2009
| 2010 | 2009 | |
| SUPPORT AND REVENUE | July 1 – June 30 | July 1 – June 30 |
| Contributions and Grants | $23,279,245 | $14,805,079 |
| Fee Income | 0 | 0 |
| Donated Services | 676,808 | 741,497 |
| Realized & Unrealized Gains | ||
| on Investments | 363,647 | 79,643 |
| Interest Income | 293,843 | 707,518 |
| TOTAL SUPPORT | ||
| AND REVENUE | $24,613,543 | $16,333,737 |
| EXPENSES | ||
| Program Services: | ||
| Grants to NYC Department of Education | $24,607,885 | $36,610,821 |
| Awareness Initiative | 0 | 2,721,175 |
| TOTAL PROGRAM SERVICES | $24,607,885 | $37,331,996 |
| Supporting Services: | ||
| Management & General | 1,229,402 | 1,323,939 |
| Fundraising | 492,098 | 498,619 |
| TOTAL SUPPORTING SERVICES | 1,721,500 | 1,822,558 |
| TOTAL EXPENSES | $26,329,385 | $39,154,554 |
| INCREASE/(DECREASE) | ||
| IN NET ASSETS | $(1,715,842) | $(22,820,817) |
| DISCONTINUED PROGRAMS | $(537,096) | $(2,472,877) |
| NET ASSETS – | ||
| BEGINNING OF YEAR | $37,565,847 | $62,859,541 |
| NET ASSETS – | ||
| END OF YEAR | $35,312,909 | $37,565,847 |
Copies of the complete audited financial statements from which this information was excerpted are available upon request.