2017 Scholarship Round-Up and Year-End Financials

With another fiscal year in the rear view mirror, the Board would like to provide all you Croomies out there with an update on our financial activities of the past year. The Alumni Association is committed to transparency in how we receive and utilize financial contributions from Crooms AoIT alumni and our supporters; as such, each year we release a consolidated income and balance sheet statement for public review. Attached to this post you can find the consolidated statement for fiscal year 2016-2017. The Crooms AoIT Alumni Association's fiscal year ended on June 30, 2017 and the Association utilizes a cash accounting system; as such, only transactions posted during the fiscal year are included - encumbrances are only recorded when they are received/paid.

During the fiscal year, the Board and Management Team - with gracious support from alumni volunteers on the grant and scholarship committees - committed to providing $2,600 in financial support to the Crooms AoIT community through the following efforts:

  • $750 - Crooms AoIT Alumni Association Community Scholarship - Sabryna Malik, Vanderbilt University (to be reflected in 2017-2018 expenses)
  • $1,350 - Crooms AoIT Alumni Association Tech Innovation Scholarship - Liraida Heredia, Seminole State College (to be reflected in 2017-2018 expenses)
  • $250 - Athletics Grant to Crooms AoIT Boys Golf Team - new uniforms
  • $250 - Athletics Grant to Crooms AoIT Boys Basketball Team - assist with new uniforms, regulation-sized basketballs for district games, and transportation

Beyond these financial giving activities, the Association's ONLY other expenses are credit card transaction fees, banking fees, and state incorporation fees. In short, at least 96% of all monies received by the Association goes directly to supporting Crooms AoIT and your fellow Croomies. The Association remains the most tax-advantaged and financially efficient way to support Crooms AoIT and we thank you for your continued support as we begin our 12th year in supporting the Crooms AoIT Community.

If you have any questions about the Association's financials or would like to learn about how to get involved, please do not hesitate to contact us.

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FY17 Year-End Income and Balance Sheet.xlsx25.97 KB
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