Chesapeake College Foundation Inc
- Assets
- $8.1m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Wye Mills, MD
- Founding
- 08/1981
- Data as of
- 06/2022
- EIN
- 52-1104909
Organization Overview
Chesapeake College Foundation Inc is located in Wye Mills, MD. The organization was established in 1981. 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. Chesapeake 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, Chesapeake College Foundation Inc generated $1.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $861.3k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (10.3%) per year over the past 7 years. 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
CHARITABLE AND EDUCATIONAL PURPOSES TO BENEFIT THE STUDENTS AND FACULTY OF CHESAPEAKE COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED DONOR CONTRIBUTIONS AND EARNINGS FROM ENDOWMENTS TO FUND ACADEMIC AWARDS, GRANTED BY CHESAPEAKE COLLEGE TO STUDENTS WHO MEET DONOR-IMPOSED REQUIREMENTS. THROUGH DONOR CONTRIBUTIONS, EVENTS, AND EARNINGS FROM ENDOWMENTS, THE FOUNDATION WAS ABLE TO GIVE BACK $828,124 TO CHESAPEAKE COLLEGE. THESE CONTRIBUTIONS WERE USED TO SUPPORT STUDENT SCHOLARSHIPS, INNOVATIVE TEACHING FOR FACULTY, ALUMNI PROGRAMMING AND RECOGNITION, AND STUDENT LEARNING OPPORTUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robby Sheehan Vice President | OfficerTrustee | 1 | $0 |
Evan Miles Secretary | OfficerTrustee | 1 | $0 |
Passion Bolden-Tilghman President | OfficerTrustee | 1 | $0 |
Karen Smith Vice President Of Administ | Officer | 4 | $0 |
Amber Mcginnis Executive Director | Officer | 1 | $0 |
Dr Cliff Coppersmith Member/chesapeake College | Trustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $11,620 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,226,607 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,238,227 |
| Total Program Service Revenue | $0 |
| Investment income | $286,981 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $280,628 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,805,836 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $797,565 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $28,574 |
| Advertising and promotion | $173 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $67 |
| 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 | $861,260 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $546,966 |
| Pledges and grants receivable | $170,839 |
| 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 | $14,132 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $7,346,116 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,000 |
| Total assets | $8,084,053 |
| Accounts payable and accrued expenses | $276,736 |
| 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 | $0 |
| Total liabilities | $276,736 |
| Net assets without donor restrictions | $591,951 |
| Net assets with donor restrictions | $7,215,366 |
| 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 | $8,084,053 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Chesapeake College Foundation Inc has recieved totaling $511,271.
| Awarding Organization | Amount |
|---|---|
T Rowe Price Program For Charitable Giving Inc Baltimore, MD PURPOSE: SPECIAL PROJECT | $457,703 |
Greater Washington Community Foundation Washington, DC PURPOSE: GENERAL SUPPORT | $41,000 |
Farm Credit Foundation For Agricultural Advancement Westminster, MD PURPOSE: AGRICULTURAL EDUCATION | $10,000 |
David A Bramble Foundation Inc Chestertown, MD PURPOSE: GENERAL FUNDING | $1,000 |
Llandaff Fam Trua 060800 Easton, MD PURPOSE: OPERATIONS | $1,000 |
Verizon Foundation Basking Ridge, NJ PURPOSE: MIP PAYOUT FOR 06/21/21 | $500 |
Endowment Analysis
| Beg. Balance | $6,040,857 |
| Earnings | -$1,015,849 |
| Net Contributions | $124,560 |
| Other Expense | $378,866 |
| Grants | $215,856 |
| Ending Balance | $4,554,846 |
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 |