Rowan-Cabarrus Community College Foundation Inc
- Assets
- $8.8m
- Revenue
- $541.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Salisbury, NC
- Founding
- 07/1991
- Data as of
- 06/2022
- EIN
- 56-1731864
Organization Overview
Rowan-Cabarrus Community College Foundation Inc is located in Salisbury, NC. The organization was established in 1991. 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. Rowan-Cabarrus 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, Rowan-Cabarrus Community College Foundation Inc generated $541.8k 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 (10.9%) each year. All expenses for the organization totaled $777.3k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE AND MANAGE FUNDS AND ENHANCE RELATIONSHIPS THAT SUPPORT THE WORK OF ROWAN-CABARRUS COMMUNITY COLLEGE
Describe the Organization's Program Activity:
THE FOUNDATION PROVIDED STUDENT ASSISTANCE, INSTITUTIONAL ENHANCEMENT, FACULTY/STAFF INCENTIVE GRANTS AND CONTINUING EDUCATION, NEW PROGRAM DEVELOPMENT AND CAPITAL PROJECTS TO ROWAN-CABARRUS COMMUNITY COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bradley Bost Chair | OfficerTrustee | 0 | $0 |
Brain Hiatt Vice Chair | OfficerTrustee | 0 | $0 |
Carol Spalding Secretary | OfficerTrustee | 0 | $0 |
Karen Alexander Director | Trustee | 0 | $0 |
Marjorie Benbow Director | Trustee | 0 | $0 |
Michael Fischer Director | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Atlantic American Properties Inc Construction | 6/29/15 | $1,545,697 |
Ritelite Signs Inc Construction | 6/29/15 | $116,958 |
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 | $501,300 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $501,300 |
| Total Program Service Revenue | $0 |
| Investment income | $32,658 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $541,813 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $616,505 |
| 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 | $3,630 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,050 |
| Advertising and promotion | $4,815 |
| Office expenses | $3,591 |
| 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 | $9,938 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $56,938 |
| Insurance | $0 |
| All other expenses | $3,310 |
| Total functional expenses | $777,275 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,986,633 |
| Pledges and grants receivable | $22,479 |
| Accounts receivable, net | $10,296 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,000,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,677,425 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,073,963 |
| Total assets | $8,770,796 |
| Accounts payable and accrued expenses | $62,964 |
| 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 | $62,964 |
| Net assets without donor restrictions | $3,000,781 |
| Net assets with donor restrictions | $5,707,051 |
| 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 | $8,770,796 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Rowan-Cabarrus Community College Foundation Inc has recieved totaling $1,143,188.
| Awarding Organization | Amount |
|---|---|
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $768,493 |
Charles A Cannon Charitable Trust N0 One Concord, NC PURPOSE: AUDITORIUM RENOVATION | $200,000 |
Diane And Bruce Halle Foundation Scottsdale, AZ PURPOSE: EDUCATIONAL | $150,000 |
Margaret C Woodson Foundation Incorporated Charlotte, NC PURPOSE: REMOVING EDUCATIONAL BARRIERS: SCHOLARSHIPS AND EMERGENCY FUNDING | $20,000 |
Clifford A And Lillian C Peeler Family Foundation Inc Salisbury, NC PURPOSE: SCHOLARSHIPS | $4,659 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $36 |
Endowment Analysis
| Beg. Balance | $3,573,218 |
| Earnings | -$526,539 |
| Net Contributions | $286,829 |
| Grants | $85,149 |
| Ending Balance | $3,248,359 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Georgia Tech Foundation Inc Atlanta, GA | $3,057,656,645 | $246,304,114 |
The University Of Tennessee Foundat Ion Inc Knoxville, TN | $742,610,209 | $198,804,674 |
Nc State Investment Fund Inc Raleigh, NC | $1,930,063,391 | $166,344,497 |
Spelman College Special Ventures Fund Inc Atlanta, GA | $236,389,415 | $26,274,154 |
University Of South Carolina Educational Foundation Columbia, SC | $607,523,681 | $89,201,263 |
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 |
Unc Health Foundation Inc Chapel Hill, NC | $571,825,040 | $92,147,897 |
William & Mary Foundation Williamsburg, VA | $1,122,551,962 | $79,373,462 |
Shorter University Inc Rome, GA | $57,209,537 | $39,807,545 |
Kennesaw State University Foundation Inc Kennesaw, GA | $537,455,993 | $85,548,111 |
University Of Virginia Foundation Charlottesville, VA | $508,958,321 | $36,530,024 |