New River Community And Technical College Foundation Inc
- Assets
- $3.2m
- Revenue
- $315.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Beaver, WV
- Founding
- 02/1994
- Data as of
- 06/2022
- EIN
- 55-0677640
Organization Overview
New River Community And Technical College Foundation Inc, operating under the name 28, is located in Beaver, WV. The organization was established in 1994. 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. 28 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, 28 generated $315.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $269.2k during the year ending 06/2022. 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
THE FOUNDAITON'S PURPOSE IS TO AID, STRENGTHEN, AND FURTHER IN EVERY PROPER WAY THE WORK AND SERVICES OF NEW RIVER COMMUNITY AND TECHNICAL COLLEGE, AN AGENCY OF THE STATE OF WEST VIGINIA. THE ORGANZATION IS OPERATED TO RECEIVE, HOLD, INVEST, AND ADMINSTER PROPERTY AND TO MAKE EXPENDITURES FOR THE BENEFIT OF NEW RIVER COMMUNITY & TECHNICAL COLLEGE AND ITS STUDENTS AND STAFF.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS FOR THE BENEFIT OF NEW RIVER COMMUNITY AND TECHNICAL COLLEGE AND BLUEFIELD STATE COLLEGE STUDENTS. SIGNIFICANT DONATED SERVICES ARE PROVIDED TO THE FOUNDATION BY NEW RIVER COMMUNITY AND TECHNICAL COLLEGE IN THE FORM OF PERSONNEL WHO OPERATE THE FOUNDATION, OFFICE SPACE AND GENERAL OPERATING SUPPLIES. THIS BENEFITS THIS PROGRAM.
INDIRECT EXPENSES ALLOCATED TO THE FUNCTION OF STUDENT SUPPORT AND PROGRAM SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Green Executive Di | Officer | 20 | $37,671 |
Carol Cole Secretary | OfficerTrustee | 1 | $0 |
Dr Kyle Fort Chairman | OfficerTrustee | 1 | $0 |
Dr Mark C Kilcollin Treasurer | OfficerTrustee | 1 | $0 |
Sharon Rowe Vice Chair | OfficerTrustee | 1 | $0 |
Leslie Baker Director | Trustee | 0.5 | $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 | $161,515 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $161,515 |
| Total Program Service Revenue | $0 |
| Investment income | $117,937 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $35,885 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $315,337 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $203,518 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $37,671 |
| Compensation of current officers, directors, key employees. | $9,548 |
| 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 | $13,123 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,629 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,772 |
| 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 | $2,336 |
| All other expenses | $0 |
| Total functional expenses | $269,207 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $262,296 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $25,000 |
| Accounts receivable, net | $2,775 |
| 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 | $0 |
| Investments—publicly traded securities | $1,610,785 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,344,155 |
| Total assets | $3,245,011 |
| Accounts payable and accrued expenses | $12,950 |
| Grants payable | $182,750 |
| 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 | $195,700 |
| Net assets without donor restrictions | $33,708 |
| Net assets with donor restrictions | $3,015,603 |
| 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 | $3,245,011 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that New River Community And Technical College Foundation Inc has recieved totaling $58,306.
| Awarding Organization | Amount |
|---|---|
Greater Greenbrier Valley Community Foundation Lewisburg, WV PURPOSE: SCHOLARSHIP | $50,300 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $8,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $6 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Maryland College Park Foundation Inc College Park, MD | $869,831,500 | $109,216,276 |
University Of Louisville Foundation Inc Louisville, KY | $1,075,988,166 | $43,496,002 |
Ohio University Foundation Athens, OH | $641,559,157 | $75,179,430 |
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 |