Richmond Community College Foundation Inc
- Assets
- $5.1m
- Revenue
- $676.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Hamlet, NC
- Founding
- 10/1983
- Data as of
- 06/2022
- EIN
- 56-1364070
Organization Overview
Richmond Community College Foundation Inc is located in Hamlet, NC. The organization was established in 1983. 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. Richmond Community 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, Richmond Community College Foundation Inc generated $676.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $416.2k 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
HANDLE GIFTS, SCHOLARSHIPS, FELLOWSHIPS, FIXED ASSET CONSTRUCTION AND PURCHASE, FACULTY SALARY SUPPLEMENTS, AND OTHER ACADEMIC EXPENSES FOR RICHMOND COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTRIBUTIONS TO RICHMOND COMMUNITY COLLEGE FOR DEWITT SERIES GRANT, FORTE BUILDING, AND STUDENT SCHOLARSHIPS AND EXPENSES.
AWARDS FOR STUDENT ACHIEVEMENTS
DISCRETIONARY ASSISTANCE FOR STUDENT NEEDS AT RICHMOND COMMUNITY COLLEGE
AMBASSADOR EXPENSE
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David T Wood Secretary | Officer | 2 | $0 |
Wiley L Mabe Treasurer | Officer | 2 | $0 |
W Ronald Ballard Vice President | Officer | 2 | $0 |
P Laverne Schultz President | Officer | 2 | $0 |
Lisa Harrelson Foundation Support | Officer | 2 | $0 |
Russell E Bennett Jr Board Member | Trustee | 2 | $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 | $652,475 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $652,475 |
| Total Program Service Revenue | $0 |
| Investment income | $627 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $17,202 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $676,162 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $343,625 |
| 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 | $7,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $707 |
| Office expenses | $4,041 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $964 |
| Total functional expenses | $416,223 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250 |
| Savings and temporary cash investments | $1,288,098 |
| Pledges and grants receivable | $20,000 |
| Accounts receivable, net | $5,362 |
| 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 | $1,175 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,604,235 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $135,531 |
| Total assets | $5,054,651 |
| Accounts payable and accrued expenses | $766 |
| 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 | $766 |
| Net assets without donor restrictions | $648,920 |
| Net assets with donor restrictions | $4,404,965 |
| 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 | $5,054,651 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Richmond Community College Foundation Inc has recieved totaling $466,487.
| Awarding Organization | Amount |
|---|---|
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $250,000 |
Richmond Community Foundation Inc Charlotte, NC PURPOSE: GENERAL SUPPORT | $175,000 |
The Duke Energy Foundation Charlotte, NC PURPOSE: VIBRANT ECONOMIES | $40,000 |
The Z V Pate Foundation Inc Laurel Hill, NC PURPOSE: EDUCATION | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $487 |
Endowment Analysis
| Beg. Balance | $3,196,055 |
| Earnings | -$361,858 |
| Net Contributions | $95,175 |
| Grants | $73,289 |
| Ending Balance | $2,856,083 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North Greenville University Tigerville, SC | $119,067,807 | $70,918,977 |
Young Harris College Young Harris, GA | $174,387,873 | $47,760,154 |
William Peace University Raleigh, NC | $89,474,772 | $34,889,332 |
Truett Mcconnell University Inc Cleveland, GA | $54,652,969 | $32,427,096 |
Southern Virginia University Buena Vista, VA | $37,155,964 | $26,776,085 |
Spartanburg Methodist College Spartanburg, SC | $52,317,686 | $26,371,934 |
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 |
Andrew College Cuthbert, GA | $29,741,190 | $11,623,662 |
Pellissippi State Community College Foundation Knoxville, TN | $20,765,427 | $1,042,268 |
Clinton College Rock Hill, SC | $6,214,571 | $5,235,874 |