Richard Bland College Foundation Inc
- Assets
- $26.0m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Petersburg, VA
- Founding
- 11/1978
- Data as of
- 06/2023
- 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 06/2023, Richard Bland College Foundation Inc generated $1.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $1.4m during the year ending 06/2023. While expenses have increased by 2.5% per year over the past 8 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
2023
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 |
|---|---|---|---|
Jeffrey M Britt Chairman | OfficerTrustee | 1 | $0 |
Felicity V Morris Vice-Chairman | OfficerTrustee | 1 | $0 |
Will Clements Treasurer | OfficerTrustee | 1 | $0 |
Kelly N Gee Secretary | OfficerTrustee | 1 | $0 |
Chana Amaro Director | Trustee | 1 | $0 |
Barrett Chappell Director | Trustee | 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 | $201,526 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $201,526 |
| Total Program Service Revenue | $637,754 |
| Investment income | $400,838 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$1,507 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,493,611 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $63,821 |
| Grants and other assistance to domestic individuals. | $263,069 |
| 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 | $61,191 |
| Fees for services: Accounting | $29,411 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,407 |
| Fees for services: Other | $9,810 |
| Advertising and promotion | $83,296 |
| Office expenses | $39,665 |
| Information technology | $38,342 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $42,148 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $637,452 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,343 |
| Insurance | $3,941 |
| All other expenses | -$21,383 |
| Total functional expenses | $1,415,499 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $195,782 |
| Savings and temporary cash investments | $30,048 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,337 |
| 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 | $54,860 |
| Investments—publicly traded securities | $7,116,242 |
| Investments—other securities | $0 |
| Investments—program-related | $18,020,747 |
| Intangible assets | $0 |
| Other assets | $584,591 |
| Total assets | $26,003,607 |
| Accounts payable and accrued expenses | $137,587 |
| Grants payable | $0 |
| Deferred revenue | $3,550 |
| Tax-exempt bond liabilities | $17,906,214 |
| 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 | $366,637 |
| Total liabilities | $18,413,988 |
| Net assets without donor restrictions | -$119,090 |
| Net assets with donor restrictions | $7,708,709 |
| 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 | $26,003,607 |
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 |