Tompkins Cortland Community College Foundation

Organization Overview

Tompkins Cortland Community College Foundation is located in Dryden, NY. The organization was established in 1971. According to its NTEE Classification (X99) the organization is classified as: Religion-Related N.E.C., under the broad grouping of Religion-Related and related organizations. As of 08/2021, Tompkins Cortland Community College Foundation employed 46 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tompkins Cortland Community College Foundation 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 08/2021, Tompkins Cortland Community College Foundation generated $8.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.5%) each year. All expenses for the organization totaled $9.3m during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (3.9%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TOMPKINS CORTLAND COMMUNITY COLLEGE FOUNDATION, INC., A COMPONENT UNIT OF TOMPKINS CORTLAND COMMUNITY COLLEGE, IS A NOT-FOR-PROFIT CHARITABLE CORPORATION THAT WAS ESTABLISHED TO SECURE RESOURCES TO ENHANCE THE LEARNING OPPORTUNITIES FOR STUDENTS OF THE COLLEGE. THE FOUNDATION PROVIDES STUDENT HOUSING AND RECEIVES CONTRIBUTIONS AND AWARDS SCHOLARSHIPS TO DESERVING STUDENTS IN ORDER TO ENABLE THEM TO ATTEND THE COLLEGE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SCHOLARSHIPS ARE AWARDED TO STUDENTS ATTENDING TOMPKINS CORTLAND COMMUNITY COLLEGE BASED ON ACADEMIC ACHIEVEMENTS. IN ADDITION, GRANTS ARE GIVEN TO PURCHASE EQUIPMENT AND FACILITIES FOR TOMPKINS CORTLAND COMMUNITY COLLEGE. APPROXIMATELY 221 STUDENTS RECEIVED SCHOLARSHIPS.


STUDENT HOUSING IS PROVIDED FOR THE USE OF TOMPKINS CORTLAND COMMUNITY COLLEGE.


TC3 BISTRO, LLC D/B/A COLTIVARE (TC3 BISTRO) IS A WHOLLY-OWNED SUBSIDIARY CREATED FOR THE PURPOSE OF SUPPORTING THE COLLEGE'S ACADEMIC PROGRAMS IN CULINARY ARTS, WINE MARKETING, AND HOTEL AND RESTAURANT MANAGEMENT. TC3 BISTRO'S RESTAURANT, FULL SERVICE BAR, EVENT SPACE, AND CATERING SERVICES PROVIDE STUDENTS WITH A REAL-LIFE SETTING FOR THEIR ACADEMIC LAB ENVIRONMENT.


CLASSROOM AND OFFICE SPACE IS LEASED TO TOMPKINS CORTLAND COMMUNITY COLLEGE. TC3 FARM, LLC IS A WHOLLY-OWNED SUBSIDIARY CREATED FOR THE PURPOSE OF SUPPORTING THE COLLEGE'S ACADEMIC PROGRAMS IN CULINARY ARTS BY GROWING FRESH PRODUCE FOR SALE TO THE PUBLIC AS WELL AS FOR USE AT COLTIVARE. INVESTMENTS ARE MANAGED BY THE FOUNDATION TO GENERATE INCOME TO SUPPORT SCHOLARSHIPS AND GRANTS TO TOMPKINS CORTLAND COMMUNITY COLLEGE AND ITS STUDENTS.


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Board, Officers & Key Employees

Name (title)Compensation
Thomas Vanderzee
Chair
$0
Mutale Sokoni
Chief Financial Officer
$0
Julie Gerg
Executive Director
$0
Dale Davis
Director
$0
Leslie Danks Burke
Director
$0
Brian Fuller
Director
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Challenge Industries
Supported Employment
$174,511
Ruffalo Noel Levitz
Fundraising Management
$114,600
Bh Cleaning Services Inc
Cleaning
$101,524
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $191,000
All other contributions, gifts, grants, and similar amounts not included above$3,735,023
Noncash contributions included in lines 1a–1f $10,802
Total Revenue from Contributions, Gifts, Grants & Similar$3,926,023
Total Program Service Revenue$3,943,934
Investment income $353,330
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $11,372
Net Gain/Loss on Asset Sales $445,541
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $8,680,534

Grants Recieved

Over the last fiscal year, we have identified 9 grants that Tompkins Cortland Community College Foundation has recieved totaling $340,800.

Awarding OrganizationAmount
Park Foundation Inc

Ithaca, NY

PURPOSE: TOMPKINS HARVEST

$180,000
Park Foundation Inc

Ithaca, NY

PURPOSE: TOMPKINS CORTLAND FIRST RESPONDERS FUND

$42,000
Park Foundation Inc

Ithaca, NY

PURPOSE: ITHACA CHEMICAL DEPENDENCY COUNSELORS OF COLOR

$33,700
Park Foundation Inc

Ithaca, NY

PURPOSE: SCHOOL FOOD CHEF'S ACADEMY AND OTHER QUALITY SCHOOL FOOD SUPPORTS SUMMER AND SCHOOL YEAR 2021/2022

$33,500
Central New York Community Foundation Inc

Syracuse, NY

PURPOSE: SCHOLARSHIP SUPPORT

$27,500
Morgan Stanley Global Impact Funding Trust Inc

Indianapolis, IN

PURPOSE: UNRESTRICTED GENERAL SUPPORT

$10,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$17,870,246
Earnings$3,885,448
Admin Expense$33,435
Other Expense$748,395
Ending Balance$20,973,864

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