Piedmont Virginia Community College Educational Foundation
- Assets
- $30.8m
- Revenue
- $4.5m
- Investments
- $18.3m
- Employees
- 0
- Location
- Charlottesville, VA
- Founding
- 03/1982
- Data as of
- 12/2021
- EIN
- 52-1241773
Organization Overview
Piedmont Virginia Community College Educational Foundation is located in Charlottesville, VA. The organization was established in 1982. 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. Piedmont Virginia Community College Educational Foundation 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 12/2021, Piedmont Virginia Community College Educational Foundation generated $4.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 27.6% each year . All expenses for the organization totaled $2.0m during the year ending 12/2021. While expenses have increased by 12.0% 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.
Since 2015, Piedmont Virginia Community College Educational Foundation has awarded 13 individual grants totaling $7,245,050. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PIEDMONT VIRGINIA COMMUNITY COLLEGE EDUCATIONAL FOUNDATION WAS ESTABLISHED IN 1982 TO CULTIVATE AND PROVIDE FINANCIAL AND IN-KIND SUPPORT FOR PIEDMONT VIRGINIA COMMUNITY COLLEGE. THE FOUNDATION IS ORGANIZED AND OPERATED TO FOSTER AND PROVIDE THE GROWTH, PROGRESS AND GENERAL WELFARE OF PIEDMONT VIRGINIA COMMUNITY COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PIEDMONT VIRGINIA COMMUNITY COLLEGE EDUCATIONAL FOUNDATION WAS ESTABLISHED IN 1982 TO CULTIVATE AND PROVIDE FINANCIAL AND IN-KIND SUPPORT FOR PIEDMONT VIRGINIA COMMUNITY COLLEGE, AND IS ORGANIZED AND OPERATED TO FOSTER AND PROVIDE FOR THE GROWTH, PROGRESS AND GENERAL WELFARE OF THE COLLEGE. THE FOUNDATION HELPS ENSURE A MARGIN OF EXCELLENCE AT PVCC BY PROVIDING FUNDS, PERSONNEL OR OTHER ASSISTANCE FOR STRENGTHENING, DEVELOPING AND ENLARGING THE COLLEGE AND ITS CURRENT AND FUTURE PROGRAMS; ASSISTING IN THE SUPPORT OF CURRENT COLLEGE ACTIVITIES AND UNDERTAKINGS OR IN THE ESTABLISHMENT AND SUPPORT OF NEW ACTIVITIES AND UNDERTAKINGS; PURCHASING OR MAKING CONTRIBUTIONS TOWARD THE ACQUISITION OF BOOKS, SUPPLIES, AND EQUIPMENT OR THE CONSTRUCTION OF BUILDINGS AND FACILITIES, WHICH WILL CONTRIBUTE TO THE EDUCATIONAL AND ADMINISTRATIVE RESOURCES OF THE COLLEGE; PROVIDING SCHOLARSHIPS AND FINANCIAL ASSISTANCE FOR STUDENTS OF THE COLLEGE; AND GENERALLY, CONTRIBUTING TO ANY AND ALL PROPER PROJECTS, FUNCTIONS, SERVICES, AND ACTIVITIES CARRIED ON OR SPONSORED BY THE COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harry Stillerman Executive Director | Officer | 20 | $60,058 |
Frank Friedman Secretary | Officer | 8 | $25,500 |
Cynthia Bolick Stultz President | OfficerTrustee | 1 | $0 |
Joe Raichel Vice President | OfficerTrustee | 1 | $0 |
Ben Copeland Treasurer | Officer | 8 | $0 |
Kelli Palmer 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 | $4,465,522 |
| Noncash contributions included in lines 1a–1f | $121,504 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,465,522 |
| Total Program Service Revenue | $0 |
| Investment income | $33,292 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,075 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,502,889 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,505,462 |
| 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. | $273,001 |
| Compensation of current officers, directors, key employees. | $155,093 |
| 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 | $18,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $156,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $20,977 |
| 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 | $462 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $6,878 |
| Total functional expenses | $2,030,593 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $9,243,756 |
| Pledges and grants receivable | $3,265,564 |
| 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 | $8,029 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,948 |
| Investments—other securities | $18,330,148 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $30,849,445 |
| Accounts payable and accrued expenses | $126,903 |
| 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 | $8,661 |
| Total liabilities | $135,564 |
| Net assets without donor restrictions | $3,008,209 |
| Net assets with donor restrictions | $27,705,672 |
| 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 | $30,849,445 |
Grants Awarded
Over the last fiscal year, Piedmont Virginia Community College Educational Foundation has awarded $1,505,462 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
PIEDMONT VIRGINIA COMMUNITY COLLEGE PURPOSE: SUPPORT | $1,169,783 |
PIEDMONT VIRGINIA COMMUNITY COLLEGE PURPOSE: SCHOLARSHIPS | $291,228 |
PIEDMONT VIRGINIA COMMUNITY COLLEGE PURPOSE: OTHER GRANTS | $44,451 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Piedmont Virginia Community College Educational Foundation has recieved totaling $190,650.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $80,100 |
American Endowment Foundation Hudson, OH PURPOSE: EDUCATIONAL | $75,500 |
The Community Foundation Inc Richmond, VA PURPOSE: GENERAL PURPOSES | $25,000 |
Charlottesville Area Community Foundation Charlottesville, VA PURPOSE: THE DAVID & CAROLYN BEACH SCHOLARSHIP | $10,000 |
Ge Foundation Norwalk, CT PURPOSE: MATCHING GIFTS | $50 |
Endowment Analysis
| Beg. Balance | $14,629,056 |
| Earnings | $4,023,431 |
| Net Contributions | $277,000 |
| Grants | $599,339 |
| Ending Balance | $18,330,148 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Walters State Community College Foundation Morristown, TN | $27,157,062 | $3,646,836 |
Virginia Western Community College Educational Founation Inc Roanoke, VA | $30,928,944 | $10,106,195 |
Aquinas College Nashville, TN | $18,354,777 | $2,556,785 |
Womens Institute Of Torah Seminary For Girls Inc Baltimore, MD | $2,004,255 | $2,315,660 |
Piedmont Virginia Community College Educational Foundation Charlottesville, VA | $30,849,445 | $4,502,889 |