Salt Lake Community College Foundation
- Assets
- $24.3m
- Revenue
- $7.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Salt Lake Cty, UT
- Founding
- 07/1983
- Data as of
- 06/2021
- EIN
- 94-2886220
Organization Overview
Salt Lake Community College Foundation is located in Salt Lake Cty, UT. 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. Salt Lake 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, Salt Lake Community College Foundation generated $7.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.7% each year . All expenses for the organization totaled $3.8m during the year ending 06/2021. While expenses have increased by 15.2% 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 SALT LAKE COMMUNITY COLLEGE FOUNDATION IS TO PROVIDE FUND-RAISING AND SUPPORT FOR SALT LAKE COMMUNITY COLLEGE BY RAISING FUNDS FOR SCHOLARSHIPS ACADEMIC PROGRAMS BUILDING CONSTRUCTION FURNISHINGS AND EQUIPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DONOR SPECIFIED DONATIONS SPECIFICALLY GIVEN TO SUPPORT OR IMPROVE CERTAIN PROGRAMS OR DISCIPLINES WITHIN THE COLLEGE INCLUDING ATHLETICS GOLDMAN SACHS 10K SMALL BUSINESSES AND DEPARTMENT PROGRAM FUNDING.
SCHOLARSHIPS PROVIDED TO SALT LAKE COMMUNITY COLLEGE STUDENTS FROM FUND-RAISING ACTIVITIES AND DONATIONS TO THE FOUNDATION.
AWARDS GIVEN TO FACULTY MEMBERS TO ENHANCE SKILLS AND TOOLS IN THEIR PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Michalko Executive Director | OfficerTrustee | 14 | $0 |
John Parrish Foundation President | OfficerTrustee | 2 | $0 |
Cici Compton Trustee | Trustee | 1 | $0 |
Maria Farrington Trustee | Trustee | 1 | $0 |
Zane Miller Trustee | Trustee | 1 | $0 |
Beatryx Washington Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,989,963 |
| Investment income | $312,983 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$3,050 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,299,896 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| 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 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 | $19,080 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $86,479 |
| Fees for services: Other | $198,055 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,773,145 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $545,657 |
| Savings and temporary cash investments | $2,032,899 |
| Pledges and grants receivable | $1,122,454 |
| 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 |
| Investments—publicly traded securities | $20,585,472 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $24,286,482 |
| Accounts payable and accrued expenses | $145,259 |
| Grants payable | $0 |
| Deferred revenue | $82,500 |
| 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 | $227,759 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $24,058,723 |
Grants Awarded
Over the last fiscal year, Salt Lake Community College Foundation has awarded $3,469,531 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Salt Lake City, UT PURPOSE: Scholarships | $1,879,818 |
Salt Lake City, UT PURPOSE: Program support | $1,569,713 |
Salt Lake City, UT PURPOSE: Faculty support | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Salt Lake Community College Foundation has recieved totaling $283,471.
| Awarding Organization | Amount |
|---|---|
The Community Foundation Of Utah Salt Lake City, UT PURPOSE: GENERAL SUPPORT | $92,800 |
T Rowe Price Program For Charitable Giving Inc Baltimore, MD PURPOSE: ENDOWMENT | $50,000 |
Community Trust Of Utah Salt Lake City, UT PURPOSE: GENERAL SUPPORT | $50,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $32,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $26,095 |
I Car Education Foundation Hoffman Estates, IL PURPOSE: TO SUPPORT SECONDARY AND POST SECONDARY COLLISION REPAIR TRAINING PROGRAMS. | $12,576 |
Endowment Analysis
| Beg. Balance | $16,048,266 |
| Earnings | $1,754,001 |
| Net Contributions | $6,878,942 |
| Other Expense | $1,647,572 |
| Grants | $1,879,818 |
| Ending Balance | $21,153,819 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Utah Valley University Foundation Inc Orem, UT | $142,004,586 | $26,803,994 |
Tohono O Odham Community College Sells, AZ | $29,097,807 | $15,651,906 |
Salt Lake Community College Foundation Salt Lake Cty, UT | $24,286,482 | $7,299,896 |
Pikes Peak Communtiy College Foundation Inc Colorado Springs, CO | $5,356,337 | $1,290,429 |
Truckee Meadows Community College Foundation Reno, NV | $4,471,323 | $3,119,437 |
League For Innovation In The Community College Chandler, AZ | $743,434 | $2,344,893 |
Frontier School Of The Bible Lagrange, WY | $3,501,922 | $1,802,336 |
Pueblo Community College Foundation Pueblo, CO | $15,005,245 | $6,507,429 |
Trinidad State College Foundation Trinidad, CO | $10,877,106 | $922,571 |
Cochise College Foundation Douglas, AZ | $21,108,748 | $4,556,497 |
Mohave County Community College Foundation Inc Kingman, AZ | $5,321,918 | $603,505 |
Aims Community College Foundation Greeley, CO | $10,208,920 | $776,368 |