Red Rocks Community College Foundation
- Assets
- $9.3m
- Revenue
- $1.7m
- Investments
- $3.5m
- Employees
- 0
- Location
- Lakewood, CO
- Founding
- 10/1991
- Data as of
- 06/2023
- EIN
- 84-1139105
Organization Overview
Red Rocks Community College Foundation is located in Lakewood, CO. The organization was established in 1991. 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. Red Rocks 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 06/2023, Red Rocks Community College Foundation generated $1.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $1.3m during the year ending 06/2023. While expenses have increased by 6.3% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION'S MISSION IS TO SUPPORT RED ROCKS COMMUNITY COLLEGE IN ITS COMMITMENT TO STUDENTS, LEARNING AND EXCELLENCE. RED ROCKS COMMUNITY COLLEGE IS COMMITTED TO PROVIDING FINANCIAL RESOURCES TO STUDENTS OF ALL INCOME LEVELS TO ALLOW ACCESS TO HIGHER EDUCATION THROUGH SCHOLARSHIPS. THE ORGANIZATION ALSO FUNDS THE FACULTY TEACHING CHAIRS AND SUPPORTS COLLEGE INITIATIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRIMARY PROGRAM SERVICE FOR THE RED ROCKS COMMUNITY COLLEGE FOUNDATION IS PROVIDING SCHOLARSHIP ASSISTANCE TO DESERVING STUDENTS, AS THE SINGLE LARGEST BARRIER FOR STUDENTS PURSUING HIGHER EDUCATION IS A LACK OF FINANCIAL RESOURCES. FOR THE 2022-23 ACADEMIC YEAR, 371 STUDENTS RECEIVED SCHOLARSHIPS THROUGH PRIVATE DONATIONS GIVEN TO THE FOUNDATION.
ANOTHER PRIMARY PROGRAM SERVICE FOR THE RED ROCKS COMMUNITY COLLEGE FOUNDATION IS THE TEACHING CHAIR PROGRAM, WHICH RECOGNIZES AND REWARDS EXCELLENCE IN THE CLASSROOM. THE TEACHING CHAIR PROGRAM IS COMPETITIVE, REQUIRING SUBMISSION OF A TEACHING PORTFOLIO AND UP TO TWO TEACHING PRESENTATIONS - ONE TO THE INTERNAL FACULTY TEACHING CHAIR COMMITTEE FOR THOSE WHO ARE SELECTED FROM PORTFOLIO REVIEW. THE SECOND DEMONSTRATION IS FOR FINALISTS WHO PRESENT TO THE FOUNDATION BOARD COMMITTEE. FOR THE 2022-2023 ACADEMIC YEAR, FOUR TEACHING CHAIRS WERE SOMEWHERE IN THE THREE-YEAR AWARD PROCESS AND TWO FINALISTS WERE AWARDED A SMALLER PROFESSIONAL DEVELOPMENT STIPEND. EACH FULL AWARD IS FOR $22,500; $5,000 PER YEAR IN SALARY ENHANCEMENT AND $2,500 PER YEAR FOR PROFESSIONAL DEVELOPMENT, RUNNER UP AWARDS ARE $2,500.
PROGRAM SUPPORT PROVIDES FUNDING TO VARIOUS RED ROCKS COMMUNITY COLLEGE PROGRAMS INCLUDING RED ROCKS INNOVATIONS IN STEM EDUCATION, CHILDREN'S CENTER, THEATRE AND THE PHYSICIAN ASSISTANT PROGRAM. PROGRAMS RECEIVE DESIGNATED SUPPORT FROM PRIVATE DONATIONS TO PROVIDE EQUIPMENT OR PROJECT SUPPORT THAT WILL BENEFIT THE COLLEGE AND COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Menk Director | Trustee | 1.25 | $0 |
Denise Waddell Director | Trustee | 1.25 | $0 |
Dr John Trefny Past President | Trustee | 2 | $0 |
Dr Agneta Albinsson Director | Trustee | 2 | $0 |
John G Brant Director | Trustee | 1 | $0 |
Kim Carver Director | Trustee | 2 | $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 | $1,351,049 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,351,049 |
| Total Program Service Revenue | $0 |
| Investment income | $333,937 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,684,986 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,170,503 |
| Grants and other assistance to domestic individuals. | $8,027 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $28,180 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,293 |
| All other expenses | $4,328 |
| Total functional expenses | $1,270,531 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $602,499 |
| Savings and temporary cash investments | $545,707 |
| Pledges and grants receivable | $114,300 |
| Accounts receivable, net | $29,734 |
| 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 | $1,517 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,468,795 |
| Investments—other securities | $3,499,698 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $49,301 |
| Total assets | $9,311,551 |
| Accounts payable and accrued expenses | $447,180 |
| 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 | $447,180 |
| Net assets without donor restrictions | $2,121,155 |
| Net assets with donor restrictions | $6,743,216 |
| 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 | $9,311,551 |