South Puget Sound Community College Foundation
- Assets
- $16.4m
- Revenue
- $11.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Olympia, WA
- Founding
- 12/1983
- Data as of
- 12/2021
- EIN
- 91-1174940
Organization Overview
South Puget Sound Community College Foundation is located in Olympia, WA. The organization was established in 1983. 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. South Puget Sound 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 12/2021, South Puget Sound Community College Foundation generated $11.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 37.8% each year . All expenses for the organization totaled $1.9m during the year ending 12/2021. While expenses have increased by 12.6% 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
THE MISSION OF THE FOUNDATION IS TO ENGAGE COMMUNITY AND BUILD RESOURCES TO SUPPORT SUCCESS FOR ALL STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
YEAR-ROUND SCHOLARSHIP AND GRANT AWARDS. FUNDS RAISED FROM PRIVATE DONORS AWARDED TO STUDENTS TO HELP WITH TUITION AND OTHER SUPPORT, AND FOR STAFF AND FACULTY PROFESSIONAL DEVELOPMENT.
ALL - WA ACADEMIC TEAM EVENT - FUNDS FROM SPONSORS GIVEN AS SCHOLARSHIPS TO STATE-WIDE COMMUNITY COLLEGE STUDENTS.
OTHER PROGRAM EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ben Shah President | OfficerTrustee | 0.2 | $0 |
Timothy Stokes Secretary/college Presiden | OfficerTrustee | 5 | $0 |
Tom Henderson Treasurer | OfficerTrustee | 0.2 | $0 |
Tanya Mote Executive Director | OfficerTrustee | 5 | $0 |
Annie Iriye Vice President | OfficerTrustee | 0.2 | $0 |
Carrie Whisler Director | Trustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $126,048 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,894,790 |
| Noncash contributions included in lines 1a–1f | $629,528 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,020,838 |
| Total Program Service Revenue | $54,820 |
| Investment income | $7,358,546 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,126,382 |
| Net Income from Fundraising Events | $2,414 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,563,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $736,333 |
| 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 | $16,491 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $57,501 |
| Fees for services: Other | $0 |
| Advertising and promotion | $46,238 |
| Office expenses | $21,348 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $630 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,327 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,761 |
| All other expenses | $97,380 |
| Total functional expenses | $1,905,215 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,001,195 |
| Savings and temporary cash investments | $150,000 |
| Pledges and grants receivable | $1,297,018 |
| 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 | $16,398 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $13,940,640 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,405,251 |
| Accounts payable and accrued expenses | $48,020 |
| 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 | $48,020 |
| Net assets without donor restrictions | $3,853,865 |
| Net assets with donor restrictions | $12,503,366 |
| 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 | $16,405,251 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that South Puget Sound Community College Foundation has recieved totaling $741,779.
| Awarding Organization | Amount |
|---|---|
Bruno And Evelyne Betti Foundation Billings, MT PURPOSE: CREATE AN ENDOWED FUND TO SUPPORT NURSING SCHOLARSHIPS | $605,000 |
Providence St Peter Foundation Olympia, WA PURPOSE: OPERATIONAL SUPPORT | $44,000 |
Credit Unions In The State Of Washington Olympia, WA PURPOSE: FOOD PANTRY, ART GALLERY GENERAL FUND, EVENT SPONSORSHIPS, SCHOLARSHIPS | $38,500 |
Building Changes Seattle, WA PURPOSE: YYA COVID | $20,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $15,050 |
Skookum Educational Programs Bremerton, WA PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
Endowment Analysis
| Beg. Balance | $10,204,160 |
| Earnings | $880,070 |
| Admin Expense | $38,145 |
| Net Contributions | $1,949,780 |
| Grants | $747,644 |
| Ending Balance | $12,248,221 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ilisagvik College Barrow, AK | $34,187,549 | $21,867,798 |
Highline College Foundation Des Moines, WA | $8,034,941 | $3,335,719 |
Mukogawa Fort Wright Institute Spokane, WA | $14,184,098 | $2,781,309 |
Lane Community College Foundation Eugene, OR | $21,564,945 | $4,092,678 |
South Puget Sound Community College Foundation Olympia, WA | $16,405,251 | $11,563,000 |
Clackamas Community College Foundation Oregon City, OR | $28,032,212 | $4,829,424 |
District 17 Community Colleges Foundation Spokane, WA | $33,198,124 | $3,322,447 |
Everett Community College Foundation Everett, WA | $7,096,357 | $1,978,153 |
Walla Walla Community College Foundation Walla Walla, WA | $26,263,368 | $2,469,058 |
Chemeketa Community College Foundation Salem, OR | $8,435,146 | $1,337,915 |
Tacoma Community College Foundation Tacoma, WA | $9,516,618 | $2,238,933 |
South Seattle Community College Foundation Seattle, WA | $25,867,934 | $1,580,679 |