Craven Community College Foundation
- Assets
- $4.0m
- Revenue
- $897.8k
- Investments
- $0.0
- Employees
- 0
- Location
- New Bern, NC
- Founding
- 03/1977
- Data as of
- 06/2021
- EIN
- 59-1718436
Organization Overview
Craven Community College Foundation is located in New Bern, NC. The organization was established in 1977. 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. Craven 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, Craven Community College Foundation generated $897.8k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.2% each year . All expenses for the organization totaled $552.2k during the year ending 06/2021. While expenses have increased by 7.3% per year over the past 6 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
TO PROMOTE & SUPPORT CRAVEN COMMUNITY COLLEGE CARRYING OUT ITS CHARITABLE & EDUCATIONAL PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS TO STUDENTS OF CRAVEN COMMUNITY COLLEGE, NEW BERN, NC. APPROXIMATELY 409 AWARDS GIVEN TO COLLEGE STUDENTS BASED ON NEED.
DIRECT FINANCIAL ASSISTANCE TO CRAVEN COMMUNITY COLLEGE, NEW BERN, NC TO HELP FURTHER ITS CHARITABLE AND EDUCATIONAL GOALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
W David Mcfadyen Jr President | OfficerTrustee | 0.5 | $0 |
Dr Raymond Staats Ccc Presiden | OfficerTrustee | 1 | $0 |
Anne C Schout Vice Preside | OfficerTrustee | 0.5 | $0 |
Jim Millard Treasurer | OfficerTrustee | 1 | $0 |
Charles Wethington Secretary | Officer | 40 | $0 |
Amy P Wang Board Member | Trustee | 0.5 | $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 | $553,443 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $553,443 |
| Total Program Service Revenue | $958 |
| Investment income | $299,779 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $43,634 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $897,814 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $156,069 |
| Grants and other assistance to domestic individuals. | $343,539 |
| 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 | $15,754 |
| Fees for services: Accounting | $5,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $29 |
| Office expenses | $3,386 |
| Information technology | $16,027 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,090 |
| 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 | $190 |
| Total functional expenses | $552,235 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $760,860 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $5,428 |
| 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 | $7,339 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,212,806 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,986,433 |
| Accounts payable and accrued expenses | $486 |
| 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 | $486 |
| Net assets without donor restrictions | $382,628 |
| Net assets with donor restrictions | $3,603,319 |
| 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 | $3,986,433 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Craven Community College Foundation has recieved totaling $146,820.
| Awarding Organization | Amount |
|---|---|
Harold H Bate Foundation Inc New Bern, NC PURPOSE: SCHOLARSHIPS | $120,000 |
North Carolina Community Foundation Inc Raleigh, NC PURPOSE: EDUCATION | $12,320 |
Robert L & Carol J Mattocks Charitable Tr New Bern, NC PURPOSE: SUPPORT CRAVEN COMMUNITY COLLEGE | $9,000 |
Thomas B And Robertha K Coleman Foundation Inc New Bern, NC PURPOSE: EDUCATIONAL ASSISTANCE | $4,000 |
International Paper Company Foundation Memphis, TN PURPOSE: PANTHER FOOD PANTRY EXPANSION | $1,000 |
Harold H Bate Foundation Inc New Bern, NC PURPOSE: DONATION | $500 |
Endowment Analysis
| Beg. Balance | $2,670,874 |
| Earnings | $613,662 |
| Admin Expense | -$12,642 |
| Net Contributions | $178,809 |
| Grants | -$137,927 |
| Ending Balance | $3,312,776 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North Greenville University Tigerville, SC | $119,067,807 | $70,918,977 |
Young Harris College Young Harris, GA | $174,387,873 | $47,760,154 |
William Peace University Raleigh, NC | $89,474,772 | $34,889,332 |
Truett Mcconnell University Inc Cleveland, GA | $54,652,969 | $32,427,096 |
Southern Virginia University Buena Vista, VA | $37,155,964 | $26,776,085 |
Spartanburg Methodist College Spartanburg, SC | $52,317,686 | $26,371,934 |
Martin Methodist College Pulaski, TN | $36,451,504 | $26,683,667 |
Louisburg College Louisburg, NC | $47,886,546 | $23,005,525 |
Saint Marys School Raleigh, NC | $74,590,364 | $23,129,284 |
Andrew College Cuthbert, GA | $29,741,190 | $11,623,662 |
Pellissippi State Community College Foundation Knoxville, TN | $20,765,427 | $1,042,268 |
Clinton College Rock Hill, SC | $6,214,571 | $5,235,874 |