Virginia Highlands Community College Educational Foundation Inc
- Assets
- $7.2m
- Revenue
- $633.7k
- Investments
- $51.8k
- Employees
- 0
- Location
- Abingdon, VA
- Founding
- 08/1981
- Data as of
- 06/2022
- EIN
- 52-1225133
Organization Overview
Virginia Highlands Community College Educational Foundation Inc is located in Abingdon, VA. The organization was established in 1981. 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. Virginia Highlands Community College Educational 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, Virginia Highlands Community College Educational Foundation Inc generated $633.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.4%) each year. All expenses for the organization totaled $842.3k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (6.0%) 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
SCHOLARSHIP/ED. ASSISTANCE
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SCHOLARSHIPS AND PROGRAMS FOR STUDENTS, AND ACHEIVEMENT PROGRAMS FOR INSTRUCTORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Collins Vice Chair | Officer | 1 | $0 |
Regina Belcher Treasurer | Officer | 1 | $0 |
Virgil Wimmer Chair | Officer | 1 | $0 |
Laura Pennington Excutive Director | Officer | 40 | $0 |
Richard Humphreys | Trustee | 1 | $0 |
Mark Goodman Drector | 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 | $607,004 |
| Noncash contributions included in lines 1a–1f | $163,011 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $607,004 |
| Total Program Service Revenue | $0 |
| Investment income | $27,833 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$1,155 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $633,682 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $222,622 |
| Grants and other assistance to domestic individuals. | $322,122 |
| 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 | $3,328 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,425 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $522 |
| 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 | $5,464 |
| Insurance | $1,590 |
| All other expenses | $40,262 |
| Total functional expenses | $842,327 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $639,328 |
| Savings and temporary cash investments | $161,964 |
| Pledges and grants receivable | $1,656,299 |
| 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 | $468,569 |
| Investments—publicly traded securities | $2,493,590 |
| Investments—other securities | $51,750 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,769,010 |
| Total assets | $7,240,510 |
| Accounts payable and accrued expenses | $548,139 |
| 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 | $548,139 |
| Net assets without donor restrictions | $734,683 |
| Net assets with donor restrictions | $5,957,688 |
| 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 | $7,240,510 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Virginia Highlands Community College Educational Foundation Inc has recieved totaling $129,621.
| Awarding Organization | Amount |
|---|---|
Virginia Foundation For Community College Education Richmond, VA PURPOSE: TO SUPPORT STUDENT EMERGENCY, GREAT EXPECTATIONS, RURAL VIRGINIA HORSESHOE INITIATIVE, AND WORKFORCE PROGRAMS | $107,121 |
Johnston Memorial Hospital Inc Johnson City, TN PURPOSE: Nursing program | $22,500 |
Endowment Analysis
| Beg. Balance | $3,994,778 |
| Ending Balance | $3,994,778 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
William Peace University Raleigh, NC | $89,474,772 | $34,889,332 |
Midway University Inc Midway, KY | $66,224,424 | $32,615,868 |
Southern Virginia University Buena Vista, VA | $37,155,964 | $26,776,085 |
Martin Methodist College Pulaski, TN | $36,451,504 | $26,683,667 |
Louisburg College Louisburg, NC | $47,886,546 | $23,005,525 |
Saint Marys School Raleigh, NC | $74,590,364 | $23,129,284 |
Montgomery College Foundation Inc Rockville, MD | $114,232,820 | $9,502,498 |
Pellissippi State Community College Foundation Knoxville, TN | $20,765,427 | $1,042,268 |
Wilkes Community College Foundation Inc Wilkesboro, NC | $12,311,546 | $8,211,087 |
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 |
Wake Technical Community College Foundation Inc Raleigh, NC | $24,851,874 | $5,743,743 |