Drake State Technical College Foundation Inc
- Assets
- $311.7k
- Revenue
- $229.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Huntsville, AL
- Founding
- 11/1989
- Data as of
- 12/2022
- EIN
- 63-1002142
Organization Overview
Drake State Technical College Foundation Inc is located in Huntsville, AL. The organization was established in 1989. 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. Drake State Technical 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE ACTIVITIES OF DRAKE COMMUNITY COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DRAKE STATE TECHNICAL COLLEGE FOUNDATION, INC. IS A NOT-FOR-PROFIT FOUNDATION INCORPORATED UNDER THE LAWS OF ALABAMA FOR THE PURPOSE OF STIMULATING VOLUNTARY PRIVATE SUPPORT FROM ALUMNI, PARENTS, FRIENDS, CORPORATIONS, FOUNDATIONS, AND OTHERS FOR THE BENEFIT OF DRAKE STATE COMMUNITY COLLEGE. IT EXISTS TO RAISE AND MANAGE PRIVATE RESOURCES SUPPORTING THE MISSION AND PRIORITIES OF THE COLLEGE AND TO PROVIDE OPPORTUNITIES FOR STUDENTS AND A MARGIN OF INSTITUTIONAL EXCELLENCE NOT ACHIEVABLE WITH INSTITUTIONAL FUNDS ALONE. THE FOUNDATION IS DEDICATED TO ASSISTING THE COLLEGE IN THE BUILDING OF AN ENDOWMENT AND IN ADDRESSING, THROUGH FINANCIAL SUPPORT, THE LONG-TERM ACADEMIC AND OTHER PRIORITIES OF THE COLLEGE.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alka Bhargav Member | Trustee | 1 | $0 |
Charlie Burruss Member | Trustee | 1 | $0 |
Trista Gladish Member | Trustee | 1 | $0 |
Laura Hall Member | Trustee | 1 | $0 |
Denetra Hartzog-Mitchell Member | Trustee | 1 | $0 |
Karen Jones-Smith Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $49,750 |
| All other contributions, gifts, grants, and similar amounts not included above | $157,008 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $206,758 |
| Total Program Service Revenue | $0 |
| Investment income | $591 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $484 |
| Net Income from Fundraising Events | $21,455 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $229,288 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $49,000 |
| 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 | $3,273 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $2,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,327 |
| 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 | $0 |
| Interest | $696 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $591 |
| Total functional expenses | $88,860 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $279,289 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32,448 |
| Total assets | $311,737 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $201,987 |
| Net assets with donor restrictions | $109,750 |
| 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 | $311,737 |