Quinsigamond Community College Foundation Inc
- Assets
- $5.4m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Worcester, MA
- Founding
- 05/1986
- Data as of
- 06/2022
- EIN
- 04-2897624
Organization Overview
Quinsigamond Community College Foundation Inc is located in Worcester, MA. The organization was established in 1986. 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. Quinsigamond Community 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.
For the year ending 06/2022, Quinsigamond Community College Foundation Inc generated $1.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $609.0k during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE AND FOSTER THE TRADITIONS OF QUINSIGAMOND COMMUNITY COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PRESERVE AND FOSTER THE TRADITIONS OF QUINSIGAMOND COMMUNITY COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda A Maykel DDS President | OfficerTrustee | 1 | $0 |
David Ojerholm CPA Treasurer | OfficerTrustee | 1 | $0 |
Matthew E Wally Vice President | OfficerTrustee | 1 | $0 |
Diane M Giampa Shrm-Scp Clerk | OfficerTrustee | 1 | $0 |
David Handsman DMD Mds Director | Trustee | 1 | $0 |
Kola A Akindele JD Ms Director | Trustee | 1 | $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 | $733,451 |
| Noncash contributions included in lines 1a–1f | $71,150 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $733,451 |
| Total Program Service Revenue | $0 |
| Investment income | $76,093 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $197,195 |
| Net Income from Fundraising Events | $28,784 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,035,523 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 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 | $14,762 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $70,846 |
| Fees for services: Other | $0 |
| 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 | $3,157 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $609,037 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $891,156 |
| Pledges and grants receivable | $67,855 |
| 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 | $4,413,321 |
| Total assets | $5,372,332 |
| Accounts payable and accrued expenses | $8,037 |
| 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 | $8,037 |
| Net assets without donor restrictions | $898,609 |
| Net assets with donor restrictions | $4,465,686 |
| 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 | $5,372,332 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Quinsigamond Community College Foundation Inc has recieved totaling $483,317.
| Awarding Organization | Amount |
|---|---|
Francis A & Jacquelyn H Harrington Foundation Worcester, MA PURPOSE: SCHOLARSHIP AID | $180,500 |
Massachusetts Biomedical Initiatives Worcester, MA PURPOSE: STEM PROGRAM | $140,625 |
Greater Worcester Community Foundation Inc Worcester, MA PURPOSE: SCHOLARSHIP ENDOWMENT FUND FOR OPERATIONS | $36,137 |
Greater Worcester Community Foundation Inc Worcester, MA PURPOSE: ENDOWMENT FUND FOR OPERATIONS | $36,137 |
Greater Worcester Community Foundation Inc Worcester, MA PURPOSE: SCHOLARSHIP ENDOWMENT FUND FOR SCHOLARSHIPS | $34,606 |
Greater Worcester Community Foundation Inc Worcester, MA PURPOSE: SUPPORT FOR NEW PANTRY LOCATION | $14,000 |
Endowment Analysis
| Beg. Balance | $889,181 |
| Earnings | $106,131 |
| Admin Expense | $106,131 |
| Net Contributions | $294,759 |
| Ending Balance | $1,183,940 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hansjorg Wyss Institute For Biologically Inspired Engineering Boston, MA | $178,608,152 | $47,853,271 |
Stony Brook Foundation Inc Stony Brook, NY | $732,698,663 | $129,247,386 |
University Of Connecticut Foundation Incorporated Storrs, CT | $744,628,423 | $150,826,250 |
University At Buffalo Foundation Inc Buffalo, NY | $1,104,161,290 | $45,943,366 |
Americans For Ben-Gurion University Inc New York, NY | $873,598,749 | $105,090,161 |
Trustees For Harvard University Cambridge, MA | $1,524,141,919 | $57,204,982 |
The University Of Rhode Island Foundation & Alumni Engagement Kingston, RI | $283,152,721 | $40,864,874 |
Anderson Center Services Inc Staatsburg, NY | $47,866,926 | $36,341,767 |
University Of New Hampshire Foundation Incorporated Durham, NH | $251,217,834 | $34,299,189 |
Harvard Private Capital Realty Inc Boston, MA | $2,527,458,180 | $415,073,812 |
Faculty-Student Assoc Of State University Of Ny At Stony Brook Stony Brook, NY | $54,956,974 | $31,334,535 |
University Of Massachusetts Foundation Inc Boston, MA | $842,030,994 | $57,111,837 |