Virginia Foundation For Community College Education

Organization Overview

Virginia Foundation For Community College Education is located in Richmond, VA. The organization was established in 1975. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Foundation For Community College Education is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2021, Virginia Foundation For Community College Education generated $3.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $4.0m during the year ending 06/2021. While expenses have increased by 7.9% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Virginia Foundation For Community College Education has awarded 261 individual grants totaling $12,506,538. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE ACCESS TO EDUCATION & ENSURE SUCCESS FOR ALL STUDENTS, REGARDLESS OF BACKGROUND.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SINCE 2006, THE FOUNDATION HAS SUPPORTED HUNDREDS OF STUDENTS ACROSS VIRGINIA'S 23 COMMUNITY COLLEGES THROUGH ITS SCHOLARSHIPS AND FELLOWSHIPS PROGRAM. THANKS TO OUR GENEROUS PARTNERS, THE VFCCE HAS AWARDED MORE THAN $5 MILLION IN SCHOLARSHIPS, HELPING STUDENTS INCREASE THEIR CHANCES OF SUCCESS. FOR THE 2020-21 ACADEMIC YEAR, 158 SCHOLARSHIPS WERE AWARDED TOTALING $648,820. THE PRESTIGIOUS FELLOWS PROGRAM AWARDS HIGH ACHIEVING SECOND YEAR STUDENTS WITH FULL SCHOLARSHIP SUPPORT TO COMPLETE ASSOCIATE DEGREES AND DEVELOP LEADERSHIP SKILLS THROUGH A COHORT MODEL. SINCE ITS LAUNCH IN 2011, 218 STUDENTS HAVE RECEIVED MENTORING AND LEADERSHIP TRAINING THROUGH THE FELLOWS PROGRAM.


THE GREAT EXPECTATIONS PROGRAM IMPROVES THE LIKELIHOOD OF COLLEGE SUCCESS FOR VIRGINIA'S YOUNG PEOPLE WITH FOSTER CARE EXPERIENCE BY PROVIDING SUPPORTS NEEDED TO ACCESS EDUCATIONAL OPPORTUNITIES AND TRANSITION TO INDEPENDENCE. GREAT EXPECTATIONS PROVIDES CAMPUS COACHES TO HELP YOUNG PEOPLE WHO HAVE EXPERIENCED FOSTER CARE BETTER TRANSITION TO AND NAVIGATE THE WORLD OF HIGHER EDUCATION. HAVING MENTORSHIP SUPPORT IS THE CRITICAL LINK IN HELPING THESE VULNERABLE YOUTH ACHIEVE SUCCESS IN COLLEGE. GREAT EXPECTATIONS WAS LAUNCHED IN 2008 TO ADDRESS THE HIGH NUMBER OF YOUNG PEOPLE AGING OUT OF THE FOSTER CARE SYSTEM. SINCE THEN, OVER 3500 AT-RISK STUDENTS HAVE ENROLLED IN COLLEGE AND EARNED 1,253 COLLEGE CREDENTIALS. APPROXIMATELY 42 PERCENT OF GREAT EXPECTATIONS' STUDENTS ACHIEVE SUCCESS THROUGH GRADUATION OR TRANSFER TO OTHER COLLEGES AND UNIVERSITIES. THROUGH THE SUPPORT OF PASSIONATE DONORS, VFCCE PROVIDES GREAT EXPECTATIONS FUNDING TO STUDENTS AT VIRGINIA'S 23 COMMUNITY COLLEGES, REACHING OVER 30 PERCENT OF THE ELIGIBLE POPULATION.


THE RURAL VIRGINIA HORSESHOE INITIATIVE (RVHI), ESTABLISHED IN 2014, HAS BEEN RENAMED TO THE GERALD L. BALILES RURAL VIRGINIA HORSESHOE INITIATIVE AWARD CONTINUING THE MISSION TO RAISE EDUCATIONAL ATTAINMENT LEVELS FOR STUDENTS IN RURAL VIRGINIA. RVHI PROVIDES CAREER COACHES IN RURAL HIGH SCHOOLS TO ENCOURAGE HIGH SCHOOL AND COLLEGE COMPLETION AND OFFERS FINANCIAL INCENTIVES AND TO ASSIST ADULT LEARNERS RETURN TO HIGHER EDUCATION AND TRAINING. FOURTEEN RURAL COMMUNITY COLLEGES ARE ELIGIBLE TO PARTICIPATE IN THE PROGRAM. IN THE FIRST FIVE YEARS OF THE PROJECT, BOTH THE HIGH SCHOOL GRADUATION AND COLLEGE GRADUATION RATES OF RURAL RESIDENTS INCREASED. MORE THAN 41,000 STUDENTS WORKED WITH COACHES TO DEVELOP CAREER PLANS AND ENROLL IN COLLEGE. SINCE THE PROGRAM BEGAN, EDUCATIONAL ATTAINMENTS LEVELS HAVE RISEN IN RURAL VIRGINIA BOTH HIGH SCHOOL AND COLLEGE ATTAINMENT RATES HAVE INCREASED FOUR PERCENTAGE POINTS RESPECTIVELY. IN ADDITION, ALMOST 1,000 STUDENTS IN RURAL VIRGINIA HAVE RECEIVED FINANCIAL INCENTIVES TO ASSIST WITH TUITION, FEES, BOOKS, SUPPORTIVE SERVICES, AND OTHER COSTS NOT COVERED BY TRADITIONAL FINANCIAL AID, SUCH AS TECHNOLOGY, TRANSPORTATION, AND CHILDCARE. THANKS TO ENGAGED DONORS, THE VFCCE PROVIDES MATCH FUNDING THAT IS LEVERAGED BY LOCAL COLLEGE FOUNDATIONS TO SUPPORT THE PROGRAM.


BY 2026, THE VIRGINIA EMPLOYMENT COMMISSION EXPECTS THERE TO BE 2.6 MILLION MIDDLE SKILLED JOBS IN VIRGINIA JOBS THAT REQUIRE SOME TRAINING, BUT NOT A FOUR-YEAR DEGREE. IN 2016, VIRGINIA'S GENERAL ASSEMBLY ENACTED LANDMARK LEGISLATION, THE NEW ECONOMY WORKFORCE CREDENTIAL GRANT, PROVIDING STATE FINANCIAL AID FOR UP TO 2/3 OF THE COST FOR STUDENTS PURSUING APPROVED NONCREDIT WORKFORCE DEVELOPMENT PROGRAMS THAT PREPARE STUDENTS FOR HIGH DEMAND CAREERS IN TARGETED INDUSTRIES IN THE COMMONWEALTH. OVER 25,000 STUDENTS HAVE EARNED CREDENTIALS IN THESE HIGH DEMAND TRAINING PROGRAMS IN INDUSTRY SECTORS SUCH AS HEALTHCARE, SKILLED TRADES, TRANSPORTATION AND LOGISTICS, EDUCATION, AND INFORMATION TECHNOLOGY. UPON COMPLETION, STUDENTS SEE AVERAGE WAGE GAINS OF 37 PERCENT AND GAIN ACCESS TO BENEFITS SUCH AS EMPLOYER-PAID MEDICAL INSURANCE, PAID VACATION, AND SICK LEAVE. ALTHOUGH PUBLIC FUNDS SUPPORT TWO-THIRDS OF PROGRAM COSTS, OFTENTIMES, PARTICULARLY FOR THOSE FROM UNDERSERVED COMMUNITIES, THE REMAINING ONE-THIRD OR OTHER NON-TUITION BARRIERS INCLUDING TRANSPORTATION, CHILDCARE, AND EQUIPMENT COSTS, SERVE AS A BARRIER TO STARTING OR COMPLETING A SHORT-TERM CREDENTIAL.


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Board, Officers & Key Employees

Name (title)Compensation
Jennifer Sager Gentry
Director; Executive Direct
$194,118
Stewart Roberson
Chair
$0
Dan R Dixon
Secretary
$0
The Honorable Nancy Firestone
Vice Chair
$0
Karen I Campbell
Acting Vice Chair
$0
Justin Ballard
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $117,100
All other contributions, gifts, grants, and similar amounts not included above$2,198,642
Noncash contributions included in lines 1a–1f $532,311
Total Revenue from Contributions, Gifts, Grants & Similar$2,315,742
Total Program Service Revenue$0
Investment income $156,490
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $678,171
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $3,150,403

Grants Awarded

Over the last fiscal year, Virginia Foundation For Community College Education has awarded $1,858,046 in support to 26 organizations.

Grant RecipientAmount

VIRGINIA COMMUNITY COLLEGE SYSTEM

PURPOSE: TO SUPPORT THE MELLON AND LAUGHING GULL PROGRAMS.

$159,018

NORTHERN VIRGINIA COMMUNITY COLLEGE EDUCATIONAL FOUNDATION

Org PageRecipient Profile

Annadale, VA

PURPOSE: TO SUPPORT STUDENT EMERGENCY, GREAT EXPECTATIONS, RURAL VIRGINIA HORSESHOE INITIATIVE, AND WORKFORCE PROGRAMS

$152,800

VIRGINIA WESTERN COMMUNITY COLLEGE EDUCATION FOUNDATION

Org PageRecipient Profile

Roanoke, VA

PURPOSE: TO SUPPORT RURAL VIRGINIA HORSESHOE INITIATIVE

$135,255

JOHN TYLER COMMUNITY COLLEGE

PURPOSE: TO SUPPORT THE MELLON PROGRAM

$134,309

J SARGEANT REYNOLDS COMMUNITY COLLEGE

PURPOSE: TO SUPPORT THE MELLON PROGRAM

$131,033

VIRGINIA HIGHLANDS COMMUNITY COLLEGE EDUCATIONAL FOUNDATION

Org PageRecipient Profile

Abingdon, VA

PURPOSE: TO SUPPORT STUDENT EMERGENCY, GREAT EXPECTATIONS, RURAL VIRGINIA HORSESHOE INITIATIVE, AND WORKFORCE PROGRAMS

$107,121
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 8 grants that Virginia Foundation For Community College Education has recieved totaling $714,223.

Awarding OrganizationAmount
Petters Family Foundation

Newport News, VA

PURPOSE: GENERAL SUPPORT

$200,000
The Richard And Leslie Gilliam Foundation

Charlottesville, VA

PURPOSE: EDUCATION

$187,200
American Online Giving Foundation Inc

Newark, DE

PURPOSE: GENERAL SUPPORT

$145,490
Organization Name not Listed

PURPOSE: GENERAL CHARITABLE PURPOSES

|

$125,000
Schwab Charitable Fund

San Francisco, CA

PURPOSE: EDUCATION

$50,500
Hollis Family Foundation

Wilmington, DE

PURPOSE: GENERAL SUPPORT

$5,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$4,155,706
Earnings$1,008,534
Net Contributions$47,025
Grants$135,760
Ending Balance$5,075,505

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