LA's BEST FINANCIALS
LA’s BEST Annual Report 2017-2018
LA’s BEST IN PARTNERSHIP WITH LAUSD
COMPARATIVE COMBINED SCHEDULE OF REVENUES AND EXPENSES
FY2017-2018
FY2016-2017
BEGINNING NET ASSETS*
FY2017-2018
$8,997,566
FY2016-2017
$9,106,340
REVENUES AND SUPPORT
US Dept. of Education / 21st Century CLC / LAUSD**
FY2017-2018
$767,075
FY2016-2017
$207,433
US Dept. of Education / 21st Century CLC
FY2017-2018
$167,064
FY2016-2017
$19,548
CA Dept. of Education / ASES / LAUSD**
FY2017-2018
$26,137,404
FY2016-2017
$23,452,320
CA Dept. of Education / ASES
FY2017-2018
$3,284,216
FY2016-2017
$3,429,141
City of LA / General City Purposes
FY2017-2018
$1,849,994
FY2016-2017
$1,529,560
In-kind Contributions
FY2017-2018
$343,286
FY2016-2017
$655,727
Restricted Private Donations***
FY2017-2018
$1,218,689
FY2016-2017
$389,751
Unrestricted Private Donations
FY2017-2018
$169,344
FY2016-2017
$604,756
Fundraising Events
FY2017-2018
$337,685
FY2016-2017
$585,240
Dividends, Interest & Other Income
FY2017-2018
$71,341
FY2016-2017
$37,544
TOTAL REVENUES AND SUPPORT
FY2017-2018
$34,346,098
FY2016-2017
$30,911,020
EXPENSES
PROGRAM OPERATIONS - LAUSD
Personnel & Benefits including Grants issued to LAUSD
FY2017-2018
$27,217,540
FY2016-2017
$25,001,858
In-kind Expenses
FY2017-2018
$228,583
FY2016-2017
$575,524
Other Costs including Grants issued to LAUSD
FY2017-2018
$366,814
FY2016-2017
$263,938
Supplies & Equipment including Grants issued to LAUSD
FY2017-2018
$2,032,314
FY2016-2017
$1,118,987
Contracts / Contract Support / Consultants including Grants issued to LAUSD
FY2017-2018
$299,965
FY2016-2017
$352,351
Mileage / Transportation including Grants issued to LAUSD
FY2017-2018
$691,919
FY2016-2017
$665,449
Performing Arts / Visual Arts
FY2017-2018
$145,256
FY2016-2017
$190,105
Evaluation
FY2017-2018
$23,704
FY2016-2017
$18,193
Staff Development / Training
FY2017-2018
$139,197
FY2016-2017
$122,582
Special Program Events
FY2017-2018
$176,272
FY2016-2017
$258,472
Sports
FY2017-2018
$309,675
FY2016-2017
$294,156
Literacy / Science / Nutrition
FY2017-2018
$45,128
FY2016-2017
$46,560
PROGRAM OPERATION EXPENSES
FY2017-2018
$31,676,367
FY2016-2017
$28,908,175
ADMINISTRATION - LA's BEST
Personnel & Benefits
FY2017-2018
$1,063,444
FY2016-2017
$1,613,811
Fund Development
FY2017-2018
$341,625
FY2016-2017
$88,301
Fundraising Events
FY2017-2018
$150,728
FY2016-2017
$137,502
Unfulfilled pledges
FY2017-2018
$21,116
FY2016-2017
$21,350
In-kind Expenses
FY2017-2018
$114,703
FY2016-2017
$80,203
Contracts / Contract Support / Consultants
FY2017-2018
$201,668
FY2016-2017
$10,421
Marketing & Communications
FY2017-2018
$120,969
FY2016-2017
$30,405
Other Costs
FY2017-2018
$187,981
FY2016-2017
$129,626
ADMINISTRATION EXPENSES
FY2017-2018
$2,202,234
FY2016-2017
$2,111,619
TOTAL EXPENSES
FY2017-2018
$33,878,601
FY2016-2017
$31,019,794
SURPLUS / DEFICIT****
FY2017-2018
$467,497
FY2016-2017
-$108,774
ENDING NET ASSETS*
FY2017-2018
$9,462,563
FY2016-2017
$8,997,566
*The beginning and ending net assets are comprised of unrestricted net assets, temporarily restricted net assets and board-designated reserves
**The California Department of Education awarded funds directly to LAUSD in the amount of $26,904,479 in FY2017-18 for use at LA's BEST program sites. These funds are audited by LAUSD auditors, and not LA's BEST. LAUSD awards are combined with LA's BEST audited financial statements for information purposes only to present the total program activity of LA's BEST in partnership with LAUSD.
***Restricted private donations include multiple year pledges. These pledges were recorded as revenue in prior fiscal years, with services provided (and expenditures incurred) in this current fiscal year. Accounting requirements mandate that the total value of multi-year private pledges be recorded as revenue in the year pledged.
****For the fiscal year ending June 30,2018, revenues exceeded expenses resulting in a net surplus of $464,997. The net surplus was comprised of an operating surplus of $75,792 and a temporarily restricted surplus (donor restricted) of $389,205.
AN AUDITED FINANCIAL REPORT FOR FY2017-2018, INCLUDING THE AUDITORS' OPINION OF LA's BEST CORPORATE FINANCIAL STATEMENTS IS AVAILABLE BY MAIL OR ONLINE AT WWW.LASBEST.ORG.