Cecil College Foundation Inc
- Assets
- $8.5m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- North East, MD
- Founding
- 03/1974
- Data as of
- 06/2022
- EIN
- 23-7345298
Organization Overview
Cecil College Foundation Inc is located in North East, MD. The organization was established in 1974. 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. Cecil 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, Cecil College Foundation Inc generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.4% each year . All expenses for the organization totaled $657.8k during the year ending 06/2022. While expenses have increased by 2.5% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FINANCIAL AID AND PROMOTE CECIL COLLEGE
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS AND ALLOCATIONS PROVIDE STUDENT AID THUS ASSISTING STUDENTS TO COMPLETE A DEGREE OR PROGRAM THAT LEADS TO CERTIFICATIONS OR LICENSURE
ARTS AND ATHLETICS PROGRAM EXPENDITURES ARE PAID ON BEHALF OF THE COLLEGE TO HELP PROMOTE A WELL-ROUNDED, COMPREHENSIVE COLLEGE EXPERIENCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon Pelham Secretary | OfficerTrustee | 0.5 | $0 |
Kent Methven Treasurer; Vice Chair | OfficerTrustee | 0.5 | $0 |
Frank Mita Chair | OfficerTrustee | 0.5 | $0 |
Karen Uricoli Executive Director | Officer | 40 | $0 |
Guy Palmeri Director | Trustee | 0.5 | $0 |
William Defreitas Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $18,745 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $991,719 |
| Noncash contributions included in lines 1a–1f | $288,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,010,464 |
| Total Program Service Revenue | $0 |
| Investment income | $198,618 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $343,726 |
| Net Income from Fundraising Events | $48,471 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,601,279 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $284,490 |
| 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 | $0 |
| Fees for services: Accounting | $8,761 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $68,005 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,803 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,024 |
| 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 | $0 |
| Total functional expenses | $657,820 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $115,124 |
| Savings and temporary cash investments | $144,578 |
| Pledges and grants receivable | $21,378 |
| 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 | $7,888,783 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $288,000 |
| Total assets | $8,457,863 |
| Accounts payable and accrued expenses | $1,379 |
| Grants payable | $0 |
| 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 | $225,328 |
| Total liabilities | $226,707 |
| Net assets without donor restrictions | $1,619,578 |
| Net assets with donor restrictions | $6,611,578 |
| 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 | $8,457,863 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Cecil College Foundation Inc has recieved totaling $16,229.
| Awarding Organization | Amount |
|---|---|
Columbus Foundation Columbus, OH PURPOSE: EDUCATION | $10,000 |
Principio Furnace Foundation Inc Perryville, MD PURPOSE: YEARLY DONATION | $4,500 |
Northrop Grumman Foundation Falls Church, VA PURPOSE: GENERAL OPERATING GRANTS & MATCHING GIFTS. | $1,000 |
Verizon Foundation Basking Ridge, NJ PURPOSE: MIP PAYOUT FOR 03/09/21 | $500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $229 |
Endowment Analysis
| Beg. Balance | $6,374,703 |
| Earnings | -$418,801 |
| Admin Expense | $40,760 |
| Net Contributions | $171,939 |
| Grants | $108,248 |
| Ending Balance | $5,978,833 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Maryland College Park Foundation Inc College Park, MD | $869,831,500 | $109,216,276 |
Old Dominion University Research Foundation Norfolk, VA | $35,170,684 | $51,598,508 |
University Of Virginia Darden School Foundation Charlottesville, VA | $664,692,543 | $80,428,705 |
William & Mary Foundation Williamsburg, VA | $1,122,551,962 | $79,373,462 |
University Of Virginia Foundation Charlottesville, VA | $508,958,321 | $36,530,024 |
University Health Services Inc Richmond, VA | $34,736,696 | $16,366,834 |
Medical College Of Virginia Foundation Richmond, VA | $645,911,510 | $54,318,573 |
Virginia Commonwealth University College Of Engineering Foundation Richmond, VA | $131,974,636 | $12,076,889 |
University Of Maryland Foundation Inc Adelphi, MD | $2,110,990,979 | $62,167,598 |
Communities In Schools Inc Alexandria, VA | $73,470,009 | $25,993,702 |
University Of Virginia Law School Foundation Charlottesville, VA | $789,832,433 | $37,875,854 |
University Of Maryland Baltimore Foundation Inc Baltimore, MD | $437,980,331 | $59,974,746 |