Mayland Community College Foundation
- Assets
- $6.4m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Spruce Pine, NC
- Founding
- 04/1983
- Data as of
- 06/2021
- EIN
- 58-1486405
Organization Overview
Mayland Community College Foundation is located in Spruce Pine, NC. The organization was established in 1983. 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. Mayland Community College Foundation 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, Mayland Community College Foundation generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.6% each year . All expenses for the organization totaled $2.0m 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 MAYLAND COMMUNITY COLLEGE FOUNDATION IS A NON-PROFIT 501(C)(3) ORGANIZATION WHOSE MISSION IS TO SUPPORT, STRENGTHEN, AND ADVANCE THE WORK OF MAYLAND COMMUNITY COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS: AWARDED $127,500 IN SCHOLARSHIPS TO 76 STUDENTS WHO APPLIED FOR MAYLAND SCHOLARSHIPS THROUGH OUR ONLINE APPLICATION FORM. BARE DARK SKY OBSERVATORY: SERVED 761 PEOPLE THROUGH STARGAZING EVENTS AND COMPLETED THE LANDSCAPING EXPANSION PROJECT WHICH INCLUDED 8 NEW TELESCOPE VIEWING STATIONS, A HANDICAP PARKING SPACE, RAMP INTO THE BUILDING, A NEW PARKING LOT AND BEAUTIFUL GARDENS. . GLENN AND CAROL ARTHUR PLANETARIUM: BEGAN CONSTRUCTION ON THE ARTHUR PLANETARIUM, LOCATED AT THE EARTH TO SKY PARK. THE FINAL PROJECT WILL INCLUDE A 60 SEAT PLANETARIUM, ADDITIONAL BATHROOMS, AND A VISITOR'S CENTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brywn Philips President | OfficerTrustee | 0.5 | $0 |
Ms Nancy Ball Vice President | OfficerTrustee | 0.5 | $0 |
Ms Margaret Earley-Thiele Executive Director | Officer | 40 | $0 |
Jesse Pope Member | Trustee | 0.25 | $0 |
Ms Larissa Bare Member | Trustee | 0.25 | $0 |
Dr John Boyd College President | Trustee | 40 | $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 | $1,026,028 |
| Noncash contributions included in lines 1a–1f | $1,753 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,026,028 |
| Total Program Service Revenue | $0 |
| Investment income | $122,678 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $189,073 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,337,779 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,785,232 |
| Grants and other assistance to domestic individuals. | $147,088 |
| 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 | $7,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $33,629 |
| Fees for services: Other | $568 |
| Advertising and promotion | $1,786 |
| Office expenses | $7,045 |
| 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 | $442 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,753 |
| Total functional expenses | $2,020,829 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $586,945 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,000 |
| 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 | $5,820,208 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,409,153 |
| Accounts payable and accrued expenses | $105,217 |
| 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 | $105,217 |
| Net assets without donor restrictions | $13,314 |
| Net assets with donor restrictions | $6,290,622 |
| 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 | $6,409,153 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Mayland Community College Foundation has recieved totaling $285,935.
| Awarding Organization | Amount |
|---|---|
Charles A Cannon Charitable Trust N0 One Concord, NC PURPOSE: COMPLETION OF BLUE RIDGE BOUTIQUE HOTEL | $100,000 |
Samuel L Phillips Family Foundation Spruce Pine, NC PURPOSE: PROJECT COSTS EXCEPT CONSTRUCTION | $67,500 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $46,000 |
Philip L Van Every Foundation Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $35,000 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $27,035 |
The Community Foundation Of Western North Carolina Inc Asheville, NC PURPOSE: IMPROVING EDUCATIONAL OPPORTUNITIES | $7,900 |
Endowment Analysis
| Beg. Balance | $4,666,412 |
| Earnings | $1,057,212 |
| Admin Expense | $33,629 |
| Net Contributions | $185,904 |
| Other Expense | $55,691 |
| Ending Balance | $5,820,208 |