Financials 2012-2013

//Financials 2012-2013
Financials 2012-2013 2017-03-10T20:53:42+00:00

 

Overview

For nearly 35 years, the Corte Madera Larkspur Schools Foundation  (SPARK) has played a critical role in funding for the schools in the Larkspur-Corte Madera School District. In an ongoing effort to share as much information as possible, here are the most recent financial data available from the 2012-2013 school year:

pieChart-Income-2013Revenue Sources 2012-2013

Last year, thanks to the generosity of our community (parents! local businesses! grandparents!) the Foundation raised $1.2 million.

During the fiscal year 2012-2013, which ran from July 1 to June 30th, SPARK’s largest source of revenue was generated from the Annual Giving Campaign, which made up 67% ($843K) and marked a new fundraising record for the Foundation. Thanks to  generous local and family business supporters, SPARK Biz generated 5% ($69K). The three big fundraising events together raised 25% ($314K) of the gross revenue:  Golf Tournament 4% ($50K);  Fashion Show 3% ($41K), and the Havana Nights Gala 18% ($223K) . eScrip  reported revenues of  3% ($33K). Revenues for Biz, Golf, Annual Giving, Fashion Show and eScrip all experienced an increase from 2011-2012. The Auction Gala gross and net revenues decreased from 2011-2012.

Note: For the purposes of this outline, numbers were rounded to the nearest thousand and percentage.

 

 

 

 

 

pieChart-DistrictSupport-2013v2

 

 

 

 

District Support 2012-2013

Revenue from the Foundation makes up nearly 9% of the overall District operating budget. In 2012-2013, SPARK paid for the 9 teacher salaries and benefits to support MAST programs District-wide:  3 music specialists, 2 art specialists, 2 science specialists and 2 technology specialists. SPARK also funded materials and supplies District-wide:  laptops and other technology equipment,  Library  books and eBooks, 5th grade Outdoor Science Program, Mathletes, Geography Bee,  teacher stipends and new-teacher mini grants.

 

 

Operating Expenses

As a non-profit foundation, SPARK strives to keep its SG&A as well as its fundraising costs to a minimum. Overhead expenses totaled $48K which include  bank charges, postage, office supplies, a part time bookkeeper and database software. This accounts for 3% of gross revenues.  Fundraising expenses totaled $161,000 which included all costs associated with event production (catering, venue rental, decor as well as directory printing, and marketing assets). This accounts for 13% of gross revenues. The largest fundraising cost by far is the cost to put on events such as the spring auction, fashion show and golf tournament which generate revenues. Of the $1,260,000 raised in 2012-2013, $965,000 went directly to the District to pay for programs, teacher salaries and materials at the two schools.