Hagerstown Community College Foundation Inc
- Assets
- $16.8m
- Revenue
- $1.6m
- Investments
- $16.2m
- Employees
- 0
- Location
- Hagerstown, MD
- Founding
- 10/1968
- Data as of
- 06/2021
- EIN
- 23-7121670
Organization Overview
Hagerstown Community College Foundation Inc is located in Hagerstown, MD. 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. Hagerstown 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 06/2021, Hagerstown Community College Foundation Inc generated $1.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $982.2k during the year ending 06/2021. While expenses have increased by 4.7% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ASSOCIATION'S ACTIVITIES AND PROJECTS SUPPORT HAGERSTOWN COMMUNITY COLLEGE AND ITS STUDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING FY21, THE FOUNDATION PROVIDED SCHOLARSHIPS TO 672 ELIGIBLE INDIVIDUALS ATTENDING HAGERSTOWN COMMUNITY COLLEGE. THE FOUNDATION ALSO PROVIDED SUPPORT FOR THE NEEDS OF THE COLLEGE.
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) | Role | Hours | Compensation |
|---|---|---|---|
Penny Pittman Secretary | OfficerTrustee | 1 | $0 |
Bill Fritts President | OfficerTrustee | 2 | $0 |
Mary Heizer Treasurer | OfficerTrustee | 1 | $0 |
David Abeles Vice President | OfficerTrustee | 1 | $0 |
Dr Ashley Whaley Senior Director | Officer | 37.5 | $0 |
Melinda Worden Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $4,335 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $913,885 |
| Noncash contributions included in lines 1a–1f | $9,847 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $918,220 |
| Total Program Service Revenue | $0 |
| Investment income | $173,875 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $501,694 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,593,789 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $155,464 |
| Grants and other assistance to domestic individuals. | $687,229 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $600 |
| Fees for services: Accounting | $6,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $115,681 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,497 |
| Office expenses | $2,177 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,560 |
| Total functional expenses | $982,232 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $256,189 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $275,568 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $16,238,529 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,770,286 |
| Accounts payable and accrued expenses | $312,796 |
| Grants payable | $5,150 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $76,862 |
| Total liabilities | $394,808 |
| Net assets without donor restrictions | $4,648,708 |
| Net assets with donor restrictions | $11,726,770 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $16,770,286 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Hagerstown Community College Foundation Inc has recieved totaling $220,942.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Washington County Maryland Incorporated Hagerstown, MD PURPOSE: SCHOLARSHIPS | $195,667 |
Community Foundation Of Washington County Maryland Incorporated Hagerstown, MD PURPOSE: STUDENT FUNDING | $10,675 |
Thrivent Charitable Impact & Investing Appleton, WI PURPOSE: GENERAL SUPPORT | $6,794 |
American Endowment Foundation Hudson, OH PURPOSE: EDUCATIONAL | $6,375 |
The Manitowoc Company Foundation Milwaukee, WI PURPOSE: GENERAL SUPPORT | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $431 |
Endowment Analysis
| Beg. Balance | $11,706,216 |
| Earnings | $3,152,368 |
| Net Contributions | $682,492 |
| Other Expense | $199,424 |
| Ending Balance | $15,341,652 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mount Aloysius College Cresson, PA | $187,396,444 | $41,178,883 |
Southern Virginia University Buena Vista, VA | $37,155,964 | $26,776,085 |
Lackawanna College Scranton, PA | $71,721,039 | $37,550,402 |
Keystone College La Plume, PA | $35,973,065 | $32,307,027 |
Northampton County Area Community College Foundation Bethlehem, PA | $90,958,462 | $10,129,172 |
Montgomery College Foundation Inc Rockville, MD | $114,232,820 | $9,502,498 |
Rural Regional College Of Northern Pennsylvania Warren, PA | $5,615,741 | $6,853,923 |
Howard Community College Educational Foundation Inc Columbia, MD | $15,584,506 | $3,702,279 |
Allegany Community College Foundation Inc Cumberland, MD | $23,769,965 | $2,588,071 |
The Harrisburg Area Community College Foundation Harrisburg, PA | $39,552,563 | $3,281,824 |
Virginia Western Community College Educational Founation Inc Roanoke, VA | $30,928,944 | $10,106,195 |
Montgomery County Community College Foundation Blue Bell, PA | $19,265,870 | $2,851,675 |