Financial Highlights

“2016 was a challenging yet innovative year at Foundation Center. Thanks to a well-developed strategic plan and the generous support of our donors, we were able to balance our financial statements and evolve our products and service to meet the needs of the field.”

Monisha de Quadros, Vice President for Financial Strategy

Year Ended December 31, 2016

Revenues and Expenses

  • 45.8% ($11,193,704)

    Product Revenues

  • 39.2% ($9,569,754)

    Foundations and Corporate Contributions

  • 13.1% ($3,192,282)

    Program Service and Other Fees

  • 1.9% ($473,964)

    Investment Return

  • 34.6% ($8,121,481)

    Data collection and publications

  • 19.7% ($4,609,932)

    Research and other programs

  • 21.7% ($5,080,835)

    Regional hubs and other public services

  • 20.0% ($4,686,620)

    Management and general

  • 4.0% ($934,159)

    Fundraising

Balance Sheets
Assets 2016 2015
Cash $ 159,360 148,070
Investments 25,130,775 26,947,978
Accounts and grants receivable, net 3,608,402 4,372,135
Prepaid expenses and other assets 520,298 456,453
Inventory 63,782 66,864
Property and equipment, net 11,515,309 13,168,590
TOTAL ASSETS $ 40,997,926 45,160,090
Liabilities and Net Assets 2016 2015
LIABILITIES:
Accounts payable and accrued expenses $ 845,233 1,266,006
Deferred revenue 5,896,680 5,519,089
Loan payable 1,546,377 2,500,000
Deferred rent 4,364,564 4,511,154
Postretirement healthcare benefits 1,913,304 2,145,965
TOTAL LIABILITIES 14,566,158 15,942,214
NET ASSETS:
Unrestricted 18,369,348 20,113,577
Temporarily restricted 6,348,420 7,390,299
Permanently restricted 1,714,000 1,714,000
TOTAL NET ASSETS 26,431,768 29,217,876
TOTAL LIABILITIES AND NET ASSETS $ 40,997,926 45,160,090
ASSETS

Cash

$159,360
$148,070

Investments

$25,130,775
$26,947,978

Accounts and grants receivable, net

$3,608,402
$4,372,135

Inventory

$63,782
$66,864

Property and equipment, net

$11,515,309
$13,168,590

TOTAL ASSETS

$40,997,926
$45,160,090
Liabilities and Net Assets

Deferred revenue

$5,896,680
$5,519,089

Loan payable

$1,546,377
$2,500,000

Deferred rent

$4,364,564
$4,511,154

Postretirement healthcare benefits

$1,913,304
$2,145,965

TOTAL LIABILITIES

$14,566,158
$15,942,214

Unrestricted

$18,369,348
$20,113,577

Temporarily restricted

$6,348,420
$7,390,299

Permanently restricted

$1,714,000
$1,714,000

TOTAL NET ASSETS

$26,431,768
$29,217,876

TOTAL LIABILITIES AND NET ASSETS

$40,997,926
$45,160,090
Statements of Change in Unrestricted Net Assets
Operating Fund Capital Fund Long-Term Investment and Special Purpose Fund 2016 2015
REVENUE AND SUPPORT:
Foundation and corporate contributions $ 2,360,443 2,360,443 2,192,434
In-kind contributions 241,264
Product revenues 11,193,704 11,193,704 11,486,940
Program service and other fees 3,192,282 3,192,282 3,125,996
Investment return 473,964 501,815 975,779 196,665
Net assets released from restrictions 7,209,311 308,165 7,517,476 12,856,539
TOTAL REVENUE AND SUPPORT $ 24,429,704 308,165 501,815 25,239,684 30,703,221
EXPENSES:
PROGRAM SERVICES:
Data collection and publications 8,121,481 884,907 9,006,388 9,130,664
Library/learning centers and other public services 5,080,835 408,033 5,488,868 5,912,256
Research and other programs 4,609,932 517,641 5,127,573 5,232,995
TOTAL PROGRAM SERVICES 17,812,248 1,810,581 19,622,829 20,275,915
SUPPORTING SERVICES:
General and administrative 4,686,620 443,661 1,382,069 6,512,350 6,442,978
Fundraising 934,159 131,265 1,065,424 919,311
TOTAL SUPPORTING SERVICES 5,620,779 574,926 1,382,069 7,577,774 7,362,289
TOTAL EXPENSES 23,433,027 2,385,507 1,382,069 27,200,603 27,638,204
Excess/(Deficiency) of Revenue and Support Over Expenses Before Other Items 996,677 (2,077,342) (880,254) (1,960,919) 3,065,017
Transfer of acquisition of furniture, equipment, capitalized software and leasehold improvements funded from operations (424,060) 424,060
Postretirement changes other than net periodic benefit cost 216,690 216,690 (46,220)
CHANGE IN UNRESTRICTED NET ASSETS $ 572,617 (1,653,282) (663,564) (1,744,229) 3,018,797
REVENUES AND SUPPORT:

Foundation and corporate contributions

$2,360,443
$2,360,443
$2,795,817

In-kind contributions

$241,264

Product revenues

$11,193,704
$11,193,704
$11,486,940

Program service and other fees

$3,192,282
$3,192,282
$9,125,996

Investment return

$473,964
$501,815
$975,779
$196,665

Net assets released from restrictions

$7,209,311
$308,165
$7,517,476
$12,856,539

TOTAL REVENUE AND SUPPORT

$24,429,704
$308,165
$501,815
$25,239,684
$30,703,221

Data collection and publications

$8,121,481
$884,907
$9,006,288
$9,130,664

Library/learning centers and other public services

$5,080,835
$408,033
$5,488,868
$5,912,256

Research and other programs

$4,609,932
$517,641
$5,127,573
$5,232,995

TOTAL PROGRAM SERVICES

$17,812,248
$1,810,581
$19,622,829
$20,275,915

General and administrative

$4,686,620
$443,661
$1,382,069
$6,512,350
$6,422,978

Fundraising

$934,159
$131,265
$1,065,424
$919,311

TOTAL SUPPORTING SERVICES

$5,620,779
$574,926
$1,382,069
$7,577,774
$7,362,289

TOTAL EXPENSES

$23,433,027
$2,385,507
$1,382,069
$27,200,603
$27,638,204

Excess/(Deficiency) of Revenue and Support Over Expenses Before Other Items

$996,677
$(2,077,342)
$(880,254)
$(1,960,919)
$3,065,017

CHANGE IN UNRESTRICTED NET ASSETS

$572,617
$(1,653,282)
$(663,564)
$(1,744,229)
$3,018,797
Statements of Change in Net Assets
2016 2015
Change in unrestricted net assets $ (1,744,229) 3,018,797
Changes in temporarily restricted net assets:
Foundation and corporate contributions 6,327,153 7,022,099
Investment return 26,036 30,129
Net appreciation (depreciation) on donor-restricted endowment 122,408 (156,022)
Net assets released from restrictions:
For operating activities (7,209,311) (6,877,858)
For capital purposes (308,165) (5,978,681)
Change in Temporarily Restricted Net Assets (1,041,879) (5,960,333)
Change in Net Assets (2,786,108) (2,941,536)
NET ASSETS AT BEGINNING OF YEAR 29,217,876 32,159,412
NET ASSETS AT ENDING OF YEAR $ 26,431,768 29,217,876

Change in unrestricted net assets

$(1,744,229)
$3,018,797

Investment return

$26,036
$30,129

Net appreciation (depreciation) on donor-restricted endowment

$122,408
$(156,022)

For operating activities

$(7,209,311)
$(6,877,858)

For capital purposes

$(308,165)
$(5,978,681)

Change in Net Assets

$(2,786,108)
$(2,941,536)

NET ASSETS AT BEGINNING OF YEAR

$29,217,876
$32,159,412

NET ASSETS AT ENDING OF YEAR

$26,431,768
$29,217,876