Montgomery County Community College Foundation
- Assets
- $21.0m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Blue Bell, PA
- Founding
- 11/1984
- Data as of
- 06/2023
- EIN
- 23-2253031
Organization Overview
Montgomery County Community College Foundation is located in Blue Bell, PA. The organization was established in 1984. 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. Montgomery County 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, Montgomery County Community College Foundation generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $2.6m during the year ending 06/2023. While expenses have increased by 1.1% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION RAISES FUNDS ON BEHALF OF THE MONTGOMERY COUNTY COMMUNITY COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS: THROUGH THE GENEROUS SUPPORT FROM OUR ALUMNI AND FRIENDS, FOUNDATIONS, CORPORATIONS, AND OTHER VALUED PARTNERS, THE FOUNDATION IS ABLE TO PROVIDE SCHOLARSHIPS AND SUPPORT TO MONTGOMERY COUNTY COMMUNITY COLLEGE STUDENTS. WITH THIS SUPPORT, STUDENTS CONTINUE TO RECEIVE THE EDUCATION AND SKILLS NEEDED TO MAKE A DIFFERENCE IN OUR LOCAL WORKFORCE AND ECONOMY.
COLLEGE PROGRAM: EXPENDITURES WERE MADE TO PROVIDE THE COLLEGE THE NECESSARY FUNDING TO OPERATE VARIOUS EDUCATIONAL PROGRAMS, THE CULTURAL ARTS, AND OTHER MISCELLANEOUS STUDENT SUPPORT SERVICES. THE COLLEGE OFFERS ASSOCIATE IN ARTS (AA), ASSOCIATE IN SCIENCE (AS), AND ASSOCIATE IN FINE ARTS (AFA) DEGREES ALL DESIGNED PRIMARILY FOR STUDENT TRANSFER TO FOUR-YEAR INSTITUTIONS AS WELL AS THE ASSOCIATE IN GENERAL STUDIES (AGS) AND THE ASSOCIATE IN APPLIED SCIENCE (AAS) DEGREES DESIGNED PRIMARILY FOR STUDENTS ENTERING THE WORKFORCE UPON GRADUATION. OUR CERTIFICATES ARE ALSO DESIGNED FOR STUDENTS WHO WISH TO ENTER THE WORKFORCE UPON GRADUATION AND ARE OFTEN SEEN BY STUDENTS AND EMPLOYERS AS AN OPPORTUNITY TO UPGRADE OR GAIN ADDITIONAL SKILLS. FINE ARTS AND TECHNOLOGY:THESE FUNDS WERE EXPENDED IN SUPPORT OF THE FINE ARTS CENTER TO INCREASE OPPORTUNITIES FOR STUDENTS AND COMMUNITY MEMBERS TO PURSUE FORMAL DEGREES AND VOCATIONAL INTERESTS IN THE FINE AND PERFORMING ARTS. FUNDS WERE ALSO EXPENDED TO SUPPORT THE ADVANCED TECHNOLOGY CENTER, WHICH OFFERS PROGRAMS IN BIOTECHNOLOGY, COMMUNICATION, AND COMPUTER SCIENCE, AS WELL AS THE COLLEGE'S INFORMATION TECHNOLOGY OFFICES. FEATURES INCLUDE STATE-OF-THE-ART LABORATORIES, CLASSROOMS, RECORDING STUDIOS, AN OBSERVATORY, TV STUDIO, MONTCO RADIO STATION, AND THE PORTAL CAFE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Victoria Bastecki-Perez President | OfficerTrustee | 1 | $0 |
Joseph Gallagher Chair | OfficerTrustee | 1 | $0 |
Richard Cottom Vice Chair | OfficerTrustee | 1 | $0 |
Andrew James Secretary | OfficerTrustee | 1 | $0 |
Brian Nelson Board Member | Trustee | 1 | $0 |
Jaisri Chety Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $16,560 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,505,962 |
| Noncash contributions included in lines 1a–1f | $142,383 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,522,522 |
| Total Program Service Revenue | $0 |
| Investment income | $561,258 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$517,341 |
| Net Income from Fundraising Events | -$5,910 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,560,529 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,429,063 |
| 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 | $10,754 |
| Fees for services: Accounting | $14,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $11,405 |
| Fees for services: Investment Management | $108,777 |
| Fees for services: Other | $232,273 |
| Advertising and promotion | $0 |
| Office expenses | $19,712 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,301 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,992 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $5,966 |
| Total functional expenses | $2,629,164 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,188,572 |
| Pledges and grants receivable | $199,303 |
| 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 | $16,598,032 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $46,233 |
| Total assets | $21,032,140 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $155,014 |
| 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 | $668,550 |
| Total liabilities | $823,564 |
| Net assets without donor restrictions | $2,288,965 |
| Net assets with donor restrictions | $17,919,611 |
| 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 | $21,032,140 |