Cleveland Community College Foundation Inc
- Assets
- $4.7m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Shelby, NC
- Founding
- 09/1985
- Data as of
- 06/2024
- EIN
- 56-1416411
Organization Overview
Cleveland Community College Foundation Inc is located in Shelby, NC. The organization was established in 1985. 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. Cleveland 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 06/2024, Cleveland Community College Foundation Inc generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 23.2% each year . All expenses for the organization totaled $723.9k during the year ending 06/2024. While expenses have increased by 8.6% per year over the past 9 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
A CONDUIT FOR PUBLIC CONTRIBUTIONS AND OTHER FUND-RAISING ACTIVITIES WHICH BENEFIT PROGRAMS AT CLEVELAND COMMUNITY COLLEGE
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLEVELAND COMMUNITY COLLEGE FOUNDATION SERVES AS A CONDUIT FOR PUBLIC CONTRIBUTIONS AND OTHER FUND-RAISING ACTIVITIES WHICH BENEFIT PROGRAMS AT CLEVELAND COMMUNITY COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Padgett Chairman | OfficerTrustee | 1 | $0 |
Chad Beam Director | Trustee | 1 | $0 |
Earl Lutz Director | Trustee | 1 | $0 |
Lauren Massey-Williams DDS Vice Chairman | OfficerTrustee | 1 | $0 |
Jamey Davis Director | Trustee | 1 | $0 |
Elizabeth Greene Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $21,048 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,514,272 |
| Noncash contributions included in lines 1a–1f | $40,342 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,535,320 |
| Total Program Service Revenue | $0 |
| Investment income | $123,925 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $14,801 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,675,406 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $160,676 |
| 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 | $27,636 |
| Fees for services: Other | $29,992 |
| Advertising and promotion | $13,440 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $599 |
| 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 | $3,632 |
| Insurance | $4,846 |
| All other expenses | $19,407 |
| Total functional expenses | $723,914 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $390,251 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $74,783 |
| 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 | $162,143 |
| Investments—publicly traded securities | $4,060,696 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,687,873 |
| Accounts payable and accrued expenses | $1,266 |
| 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 | $190,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $961,182 |
| Total liabilities | $1,152,448 |
| Net assets without donor restrictions | $654,964 |
| Net assets with donor restrictions | $2,880,461 |
| 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 | $4,687,873 |
Grants Awarded
Over the last fiscal year, Cleveland Community College Foundation Inc has awarded $85,772 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CLEVELAND COMMUNITY COLLEGE PURPOSE: Support Entrepreneur program | $10,498 |
CLEVELAND COMMUNITY COLLEGE PURPOSE: Economic development | $55,242 |
CLEVELAND COMMUNITY COLLEGE PURPOSE: Sponsor College's 50th Anniversary | $20,032 |