A
nother year of progress was
made toward implementing
the Shorecrest Strategic Plan--
Vision 2015. We started in the
summer with the renovation of
the Junior Kindergarten building.
Shorecrest created a 21st century
model "open concept" to
radically enhance the teaching
and learning environment.
Feedback from faculty, teachers and children indicates
that the changes have made a profound difference in
the program. This concept also helped us to better
define our Alpha and JK program concept and we have
adopted a new name for the program to better depict
our work--The Experiential School of Tampa Bay (more
than preschool). A new facilities building was also
constructed thanks to a generous donation from Tech
Data that allowed for significant upgrades in the
equipment and working environment for the facilities
staff. Extensive professional development took place
throughout the year including efforts to improve the
social and emotional health of our students and faculty,
the incorporation of iPads in classroom teaching, and
curriculum changes to support the new technology.
A Master Planning effort also commenced during the
year to begin to envision the evolution of facilities on
campus for the next twenty years at Shorecrest, and a
Technology Plan was developed to thoughtfully prepare
for future changes in educational technology.
Your contributions to the Annual Fund and other
endeavors have made a significant difference in the
ability to provide the very best education available to
Shorecrest students. We thank you for your continued
support and engagement as we prepare students for the
years ahead of them so that they will enjoy long-term
success in our ever-changing world.
Karen Moore
Chief Financial Officer
REVENUES
(In Thousands)
%
Net Tuition
$14,644
80%
Other Program and Fees
$554
3%
Auxillary
$645
4%
(Summer Camps, After-School, Extended Day)
Charitable Contributions & Special Events
$1,826
10%
Investment Income+
$296
2%
Other Income
$214
1%
TOTAL REVENUES
$18,179
100%
EXPENSES
Salaries and Benefits
$10,582
65%
Instructional Expenses
$741
5%
Athletic Expenses
$197
1%
Technology *
$280
2%
Plant & Maintenance*
$2,992
18%
(interest, depreciation, utilities, etc.)*
School Wide Expenses**
$752
5%
Fund Raising
$382
2%
Auxillary $364
2%
(Summer Camps, After-School, Extended Day)
TOTAL EXPENSES
$16,290
100%
EXCESS REVENUES OVER EXPENSES
$1,889
ANNUAL GIVING BY CONSTITUENCIES
Constituency Gifts Participation
Alumni $59,180
5%
Parents of Alumni $17,249
11%
Board $70,265
100%
Current Parents $297,067
67%
Emeritus Board $34,500
34%
Faculty & Staff $7,499
94%
Grandparents $70,435
13%
Business Partners & Advertising $58,916
Matching Gifts $18,117
Golf & Tennis Tournament $33,422
Other $15,887
TOTAL $682,537
2 Shorecrest Preparatory School
Financial Report
Excess Revenues over Expense of $1,889 was used to:
(1) pay the annual principal payment on the athletic center loan for $618k,
(2) continue to reserve $275k of Board Designated Endowment income,
(3) pay for $600k in renovations, repairs, maintenance of the campus in
addition to the acquisition of much needed replacement of technology equipment
plus fund the new iPad infrastructure initiative.
(4) pay the annual bond principal payment of $285k that continues to increase,
(5) reserve $100k for deferred maintenance and repairs for the campus
buildings and grounds, and
(6) pay the annual 15% of the Annual Fund contributions received to the
Endowment Funds which was $109k for this year.
+ Includes gains, losses and income from Endowment not used per Board
* This amount does not include capital asset items such as building,
equipment, furniture and fixtures.
** This amount does not include depreciation of 1,370,363
2012-2013 Annual Fund Total: $682,537
Gifts by Constituencies
Golf & Tennis Tournament 5%
Matching Gifts 3%
Board
10%
Parents of Alumni
3%
Other
2%
Alumni
9%
Grandparents 10%
Faculty
& Staff
1%
Emeritus Board 5%
Current Parents
44%
Business Partners
& Advertising 8%
The above financial information is unaudited. Audited numbers will be available from the Business Office in November of 2013.