Wake Technical Community College Foundation Inc

Organization Overview

Wake Technical Community College Foundation Inc is located in Raleigh, NC. The organization was established in 1968. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, 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. Wake Technical Community College Foundation Inc 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 06/2022, Wake Technical Community College Foundation Inc generated $5.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.2% each year . All expenses for the organization totaled $2.8m during the year ending 06/2022. While expenses have increased by 7.3% per year over the past 7 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE WAKE TECH FOUNDATION PARTNERS WITH PRIVATE ENTITIES AND INDIVIDUALS TO RAISE AWARENESS, FINANCIAL RESOURCES, AND OTHER ASSETS IN SUPPORT OF WAKE TECHNICAL COMMUNITY COLLEGE'S MISSION, GOALS, AND FUNDING PRIORITIES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SCHOLARSHIPS ARE MONETARY AWARDS TO STUDENTS AND MAY BE EARMARKED TO ASSIST DIPLOMA, CERTIFICATE, OR ASSOCIATE DEGREE STUDENTS IN ANY CURRICULUM PROGRAM OR CONTINUING EDUCATION, AND MAY BE BASED ON FINANCIAL NEED OR ACADEMIC MERIT ACCORDING TO DONOR PREFERENCE. BOTH THE CURRICULUM AND CONTINUING EDUCATION SCHOLARSHIPS ARE AWARDED THROUGH AN ONLINE SCHOLARSHIP ANONYMOUS APPLICATION PROCESS. STUDENT SCHOLARSHIPS RANGE FROM 100 - 3,000/ A YEAR AND FUNDING IS PROVIDED BY CORPORATIONS, INDIVIDUALS, GRANTS AND FOUNDATIONS.


TUITION ASSISTANCE PROGRAM ALLOWS WAKE TECH FACULTY AND STAFF TO STAY CURRENT AND PURSUE ADVANCED DEGREES, CAREER CREDENTIALS, AND PROFESSIONAL DEVELOPMENT. LEADERSHIP DEVELOPMENT GRANTS FOSTER COLLABORATION AND ENCOURAGE CREATIVE IDEAS. EMPLOYEES MUST SUBMIT AN APPLICATION FOR PRE-APPROVAL PRIOR TO THE SEMESTER/TERM OF ENROLLMENT.


FOSTERING BRIGHT FUTURES (FBF) PROGRAM IS A PUBLIC-PRIVATE PARTNERSHIP THAT ADDRESSES THE OVERWHELMING NEED FOR A COMPREHENSIVE SUPPORT STRUCTURE TO ASSIST FOSTER YOUTHS IN MAKING THE TRANSITION FROM THE WAKE COUNTY FOSTER CARE SYSTEM TO INDEPENDENT YOUNG ADULTHOOD. THE OBJECTIVE OF THE FBF PROGRAM IS TO ELIMINATE THE BARRIERS THAT WOULD TYPICALLY DERAIL THOSE GRADUATES FROM MEETING EDUCATIONAL AND LIFE GOALS BY PROVIDING FINANCIAL, ACADEMIC, AND SOCIAL SUPPORT. FUNDING IS PROVIDED BY CORPORATIONS, INDIVIDUALS, CIVIC CLUBS, GRANTS AND FOUNDATIONS.


Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.

Board, Officers & Key Employees

Name (title)Compensation
Candis Parker
Chair-Elect
$0
Tim Burgess
Treasurer
$0
Whitney Westbrook
Chair
$0
Scott Ralls
Secretary
$0
Matt Smith
Director
$0
Scarlet Edwards
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$23,073
Related organizations$0
Government grants $50,000
All other contributions, gifts, grants, and similar amounts not included above$4,530,053
Noncash contributions included in lines 1a–1f $742,547
Total Revenue from Contributions, Gifts, Grants & Similar$4,603,126
Total Program Service Revenue$18,406
Investment income $648,297
Tax Exempt Bond Proceeds $0
Royalties $21,742
Net Rental Income $0
Net Gain/Loss on Asset Sales $381,301
Net Income from Fundraising Events $1,086
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $5,743,743

Grants Recieved

Over the last fiscal year, we have identified 13 grants that Wake Technical Community College Foundation Inc has recieved totaling $900,928.

Awarding OrganizationAmount
Credit Suisse Americas Foundation

New York, NY

PURPOSE: WAKEWORKS APPRECENTICESHIP PROGRAM

$250,000
John M Belk Endowment

Charlotte, NC

PURPOSE: FINISH FIRST NC EXTENSION PROJECT

$134,000
Foundation For The Carolinas

Charlotte, NC

PURPOSE: CHARITABLE GIFT

$116,150
American Endowment Foundation

Hudson, OH

PURPOSE: EDUCATIONAL

$89,000
Truist Foundation Inc

Orlando, FL

PURPOSE: GENERAL OPERATING

$75,000
Hendrick Family Foundation

Charlotte, NC

PURPOSE: PROGRAM SUPPORT

$75,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$12,717,255
Earnings-$1,075,825
Net Contributions$1,611,101
Other Expense$15,890
Ending Balance$13,236,641

Create an account to unlock the data you need.

or