Greenville Tech Foundation Inc
- Assets
- $48.3m
- Revenue
- $8.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Greenville, SC
- Founding
- 08/1974
- Data as of
- 12/2021
- EIN
- 57-0565961
Organization Overview
Greenville Tech Foundation Inc is located in Greenville, SC. The organization was established in 1974. 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. Greenville Tech 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 12/2021, Greenville Tech Foundation Inc generated $8.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $7.5m during the year ending 12/2021. While expenses have increased by 8.0% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FINANCIAL ASSISTANCE TO GREENVILLE TECHNICAL COLLEGE AND ITS STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED HOUSING SERVICES TO STUDENTS OF GREENVILLE TECHNICAL COLLEGE.
PURCHASED EQUIPMENT FOR VARIOUS COLLEGE PROGRAMS OFFERED AT GREENVILLE TECHNICAL COLLEGE.
CONSTRUCTED CLASSROOM AND GYMNASIUM FOR THE BRASHIER CHARTER MIDDLE SCHOOL CAMPUS AT THE REQUEST OF GREENVILLE TECHNICAL COLLEGE. CONTINUING REVENUE AND EXPENSES ARE FOR OWNERSHIP OF BUILDING BY GREENVILLE TECH FOUNDATION.
ALL OTHER PROGRAM SERVICE EXPENSES CONSIST OF MONIES SPENT FOR STUDENT PROGRAMS, SCHOLARSHIPS, COLLEGE FACULTY/STAFF DEVELOPMENT, COLLEGE DEPARTMENT SUPPLIES & ACTIVITIES, CONSULTING AND OTHER COLLEGE SUPPORT. OTHER PROGRAM SERVICE REVENUE CONSISTS OF A MANAGEMENT FEE COLLECTED FROM GREENVILLE TECHNICAL COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Keith L Miller College Pres | Officer | 1 | $164,242 |
Ann Wright VP For Advan | Officer | 50 | $0 |
Kimberly Bailey Director | Trustee | 1 | $0 |
Stacy B Brandon Chairman | Trustee | 1 | $0 |
Michael A Cinquemani Treasurer | Trustee | 1 | $0 |
Lynn Faust Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $223,955 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,515,225 |
| Noncash contributions included in lines 1a–1f | $231,432 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,739,180 |
| Total Program Service Revenue | $2,577,493 |
| Investment income | $339,206 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $334,253 |
| Net Gain/Loss on Asset Sales | $736,759 |
| Net Income from Fundraising Events | -$27,539 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,773,055 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $573,727 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $151,287 |
| Compensation of current officers, directors, key employees. | $151,287 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $137,811 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $91,515 |
| Payroll taxes | $0 |
| Fees for services: Management | $129,870 |
| Fees for services: Legal | $11,594 |
| Fees for services: Accounting | $26,200 |
| Fees for services: Lobbying | $54,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,500 |
| Advertising and promotion | $0 |
| Office expenses | $11,203 |
| Information technology | $35,121 |
| Royalties | $0 |
| Occupancy | $383,918 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $624,872 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $858,012 |
| Insurance | $0 |
| All other expenses | $220,503 |
| Total functional expenses | $7,456,674 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,085,757 |
| Savings and temporary cash investments | $3,977,817 |
| Pledges and grants receivable | $366,429 |
| Accounts receivable, net | $80,826 |
| 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 | $146,943 |
| Net Land, buildings, and equipment | $21,626,626 |
| Investments—publicly traded securities | $20,800,026 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $235,111 |
| Total assets | $48,319,535 |
| Accounts payable and accrued expenses | $221,355 |
| Grants payable | $0 |
| Deferred revenue | $71,625 |
| Tax-exempt bond liabilities | $14,347,460 |
| 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 | $2,535,893 |
| Total liabilities | $17,176,333 |
| Net assets without donor restrictions | $11,065,810 |
| Net assets with donor restrictions | $20,077,392 |
| 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 | $48,319,535 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greenville Tech Foundation Inc has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Charles Timmons Foundation Wilmington, DE PURPOSE: HEALTH & LIFE SCIENCES CENTER | $20,000 |
Endowment Analysis
| Beg. Balance | $16,103,643 |
| Earnings | $2,138,991 |
| Admin Expense | $71,139 |
| Net Contributions | $2,869,516 |
| Grants | $543,226 |
| Ending Balance | $20,497,785 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Lord Foundation Of North Carolina Durham, NC | $23,094,681 | $641,441 |
University Of North Carolina At Greensboro Investment Fund Inc Greensboro, NC | $369,290,686 | $22,759,163 |
Building Equity Sooner For Tomarrow Greenville, SC | $493,697,004 | $17,744,355 |
Appalachian State University Foundation Inc Boone, NC | $159,413,962 | $18,404,104 |
University Of North Carolina Chapel Hill Arts And Sciences Foundation Chapel Hill, NC | $518,992,807 | $33,231,064 |
Georgia Tech Facilities Inc Atlanta, GA | $407,064,936 | $14,504,049 |
The Foundation Of The University Of North Carolina At Charlotte Inc Charlotte, NC | $296,107,277 | $34,157,132 |
College Of Charleston Foundation Charleston, SC | $165,475,152 | $11,402,265 |
Medical College Of Georgia Foundation Inc Augusta, GA | $352,081,028 | $12,607,438 |
East Carolina University Foundation Inc Greenville, NC | $186,990,398 | $28,752,906 |
Crossnore School Childrens Foundation Crossnore, NC | $37,541,780 | $0 |
James B Hunt Jr Institute For Educational Leadership And Policy Cary, NC | $11,369,627 | $8,988,543 |