Richard Bland College Foundation Inc
- Assets
- $26.4m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Petersburg, VA
- Founding
- 11/1978
- Data as of
- 06/2022
- EIN
- 51-0227721
Organization Overview
Richard Bland College Foundation Inc is located in Petersburg, VA. The organization was established in 1978. According to its NTEE Classification (B42) the organization is classified as: Undergraduate 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. Richard Bland 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, Richard Bland College Foundation Inc generated $2.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $1.2m during the year ending 06/2022. While expenses have increased by 0.2% 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
TO AID, STRENGTHEN, AND EXTEND IN EVERY PROPER AND USEFUL MANNER THE WORK, SERVICE, AND OBJECTIVES OF RICHARD BLAND COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS AND FINANCIAL AID FOR STUDENTS.
DISTRIBUTIONS TO AND IN SUPPORT OF RICHARD BLAND COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles A Patton Chairman | OfficerTrustee | 1 | $0 |
William H Talley IV Immediate Past Chair | OfficerTrustee | 1 | $0 |
James K Beazley III Vice-Chairman | OfficerTrustee | 1 | $0 |
J Nelson Wilkinson Legal Counsel | OfficerTrustee | 1 | $0 |
Kelly T Gee Secretary | OfficerTrustee | 1 | $0 |
Felicity V Morris Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $302,306 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $302,306 |
| Total Program Service Revenue | $506,151 |
| Investment income | $933,934 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $6,234 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,974,952 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $36,666 |
| Grants and other assistance to domestic individuals. | $164,234 |
| 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 | $23,145 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $24,760 |
| Fees for services: Other | $0 |
| Advertising and promotion | $62,402 |
| Office expenses | $26,939 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $29,811 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $506,151 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,571 |
| Insurance | $3,402 |
| All other expenses | $15,745 |
| Total functional expenses | $1,179,712 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $229,403 |
| Savings and temporary cash investments | $53,702 |
| Pledges and grants receivable | $0 |
| 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 | $13,643 |
| Investments—publicly traded securities | $6,701,556 |
| Investments—other securities | $0 |
| Investments—program-related | $18,810,364 |
| Intangible assets | $0 |
| Other assets | $608,630 |
| Total assets | $26,417,298 |
| Accounts payable and accrued expenses | $86,131 |
| Grants payable | $0 |
| Deferred revenue | $6,560 |
| Tax-exempt bond liabilities | $18,736,919 |
| 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 | $347,301 |
| Total liabilities | $19,176,911 |
| Net assets without donor restrictions | -$91,575 |
| Net assets with donor restrictions | $7,331,962 |
| 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 | $26,417,298 |
Grants Awarded
Over the last fiscal year, Richard Bland College Foundation Inc has awarded $24,520 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
RICHARD BLAND COLLEGE PURPOSE: CAMERON MIFI GRANT | $19,200 |
RICHARD BLAND COLLEGE PURPOSE: BUSINESS EXPENSES RELATED TO THE COLLEGE | $5,320 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Richard Bland College Foundation Inc has recieved totaling $8,590.
| Awarding Organization | Amount |
|---|---|
Network For Good Inc Washington, DC PURPOSE: Unrestricted | $8,590 |
Endowment Analysis
| Beg. Balance | $8,283,233 |
| Earnings | -$1,164,785 |
| Net Contributions | $25,640 |
| Other Expense | $175,293 |
| Ending Balance | $6,968,795 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Caney Creek Community Center Pippa Passes, KY | $136,427,755 | $30,649,937 |
University Of Mary Washington Foundation Fredericksburg, VA | $186,636,934 | $19,915,035 |
Lemoyne Owen College Memphis, TN | $53,577,456 | $23,441,931 |
Patrick Henry College Purcellville, VA | $42,398,323 | $19,179,268 |
Bennett College Greensboro, NC | $45,162,174 | $40,377,386 |
Capitol Technology University Laurel, MD | $27,498,251 | $16,836,672 |
Welch College Gallatin, TN | $41,634,056 | $11,542,139 |
Fairfax University Of America Fairfax, VA | $12,151,860 | $8,266,608 |
Appalachian Bible College Inc Mount Hope, WV | $12,108,956 | $7,758,516 |
American Baptist Theological Seminary Nashville, TN | $11,177,466 | $7,876,217 |
Council For Christian Colleges And Universities Washington, DC | $16,773,733 | $7,764,046 |
Mid-Atlantic Christian University Inc Elizabeth City, NC | $5,620,599 | $7,848,028 |