Asheville-Buncombe Technical Community College Foundation Inc
- Assets
- $16.2m
- Revenue
- $1.9m
- Investments
- $9.6m
- Employees
- 0
- Location
- Asheville, NC
- Founding
- 06/1997
- Data as of
- 06/2021
- EIN
- 56-1993458
Organization Overview
Asheville-Buncombe Technical Community College Foundation Inc is located in Asheville, NC. The organization was established in 1997. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Asheville-Buncombe Technical 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 06/2021, Asheville-Buncombe Technical Community College Foundation Inc generated $1.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $1.3m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE FOUNDATION IS TO SUPPORT ASHEVILLE-BUNCOMBE TECHNICAL COMMUNITY COLLEGE IN ALL OF ITS PROGRAMS AND ACTIVITIES TO ENSURE THAT QUALITY EDUCATIONAL OPPORTUNITIES ARE AVAILABLE TO ITS STUDENTS, FACULTY, AND STAFF.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATON PROVIDES SUPPORT TO THE CAMPUS IN THE FORM OF FUNDING FOR CAPITAL PROJECTS, DEPARTMENTAL SUPPORT, AND OTHER PROJECTS.
STUDENT SCHOLARSHIPS AND SUPPORT: THE FOUNDATION AWARDED CURRICULUM AND CONTINUING EDUCATION SCHOLARSHIPS IN ORDER TO MEET THE INCREASING FINANCIAL NEED OF A-B TECH COMMUNITY COLLEGE STUDENTS. THE FOUNDATION ALSO ADMINISTERED A VARIETY OF GRANT-FUNDED PROJECTS ON BEHALF OF A-B TECH COMMUNITY COLLEGE.
OTHER STUDENT SUPPORT: THE FOUNDATION RECOGNIZES THE INCREASING EMERGENCY NEEDS OF THE COMMUNITY COLLEGE STUDENTS. THE FOUNDATION ALONG WITH OTHER GRANT FUNDERS CONTINUE TO PROVIDE MONETARY SUPPORT FOR THESE EMERGENCY FUNDS NEEDS, SUCH AS TRANSPORTATION, MEDICAL, UTILITIES, UNIFORMS, TOOLS, AND TESTING FEES.
PROFESSIONAL DEVELOPMENT - THE FOUNDATION CONTINUES TO SUPPORT THE NEEDS OF ADDITIONAL STAFF, FACULTY AND ADJUNCT TRAINING THROUGH ANNUAL AWARDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amanda Edwards Executive Director | Officer | 40 | $84,086 |
Steven Sizemore Board Chair | OfficerTrustee | 1 | $0 |
John Gossett Secretary | OfficerTrustee | 2 | $0 |
Charles Frederick Vice Chair | OfficerTrustee | 1 | $0 |
Ron Storto Treasurer | OfficerTrustee | 1 | $0 |
Anthony Cerrato Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $43,570 |
| Related organizations | $0 |
| Government grants | $99,545 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,528,789 |
| Noncash contributions included in lines 1a–1f | $21,612 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,671,904 |
| Total Program Service Revenue | $0 |
| Investment income | $106,324 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $157,172 |
| Net Income from Fundraising Events | -$669 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,934,731 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $65,772 |
| Grants and other assistance to domestic individuals. | $503,406 |
| 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 | $16,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $58,474 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,305 |
| Office expenses | $19,092 |
| Information technology | $46,122 |
| 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 | $120,027 |
| Total functional expenses | $1,252,239 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $69,522 |
| Savings and temporary cash investments | $2,334,145 |
| Pledges and grants receivable | $2,372,776 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $9,637,551 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,776,580 |
| Total assets | $16,190,574 |
| Accounts payable and accrued expenses | $83,464 |
| 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 | $83,464 |
| Net assets without donor restrictions | $885,101 |
| Net assets with donor restrictions | $15,222,009 |
| 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 | $16,190,574 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Asheville-Buncombe Technical Community College Foundation Inc has recieved totaling $3,608,312.
| Awarding Organization | Amount |
|---|---|
Dogwood Health Trust Asheville, NC PURPOSE: COVID-19 MITIGATION FOR COMMUNITY COLLEGE STUDENTS | $3,320,656 |
The Community Foundation Of Western North Carolina Inc Asheville, NC PURPOSE: IMPROVING EDUCATIONAL OPPORTUNITIES | $270,118 |
Walnut Cove Members Association Inc Skyland, NC PURPOSE: EDUCATION & WELFARE | $15,000 |
Harry F Chaddick And Elaine Chaddick Foundation Inc Chicago, IL PURPOSE: EDUCATIONAL | $2,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $38 |
Endowment Analysis
| Beg. Balance | $6,642,383 |
| Earnings | $1,647,932 |
| Net Contributions | $56,250 |
| Grants | $272,163 |
| Ending Balance | $8,074,402 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
James Madison University Foundation Inc Harrisonburg, VA | $191,139,680 | $18,508,438 |
Marine Corps Scholarship Foundation Inc Alexandria, VA | $149,128,193 | $34,285,716 |
Children Of Fallen Patriots Foundation Reston, VA | $18,264,760 | $13,060,746 |
The Hartwell Foundation Corporation Memphis, TN | $88,595,532 | $17,280,759 |
Morehead Cain Foundation Chapel Hill, NC | $0 | $13,275,596 |
Education Foundation Scholarship Endowment Trust Chapel Hill, NC | $389,903,195 | $25,351,334 |
Hire Heroes Usa Alpharetta, GA | $7,840,449 | $13,205,192 |
Apogee Georgia School Choice Scholarship Fund Atlanta, GA | $21,549,156 | $14,581,744 |
Amity Medical Group Inc Charlotte, NC | $3,300,228 | $10,911,191 |
Inspire Brands Foundation Inc Atlanta, GA | $11,528,068 | $11,993,911 |
Beemok Family Foundation Charleston, SC | $51,753,352 | $227,490 |