Virginia Foundation For Community College Education is located in Richmond, VA. The organization was established in 1975. 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. Virginia Foundation For Community College Education 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, Virginia Foundation For Community College Education generated $5.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $3.8m during the year ending 06/2022. While expenses have increased by 6.0% 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.
Since 2015, Virginia Foundation For Community College Education has awarded 226 individual grants totaling $10,848,696. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ACCESS TO EDUCATION & ENSURE SUCCESS FOR ALL STUDENTS, REGARDLESS OF BACKGROUND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE 2006, THE FOUNDATION HAS SUPPORTED HUNDREDS OF STUDENTS ACROSS VIRGINIA'S 23 COMMUNITY COLLEGES THROUGH ITS SCHOLARSHIPS AND FELLOWSHIPS PROGRAM. THANKS TO OUR GENEROUS PARTNERS, THE VFCCE HAS AWARDED MORE THAN $5.4 MILLION IN SCHOLARSHIPS, HELPING STUDENTS INCREASE THEIR CHANCES OF SUCCESS. FOR THE 2021-22 ACADEMIC YEAR, 118 SCHOLARSHIPS WERE AWARDED TOTALING $375,000. THE PRESTIGIOUS FELLOWS PROGRAM AWARDS HIGH ACHIEVING SECOND YEAR STUDENTS WITH FULL SCHOLARSHIP SUPPORT TO COMPLETE ASSOCIATE DEGREES AND DEVELOP LEADERSHIP SKILLS THROUGH A COHORT MODEL. SINCE ITS LAUNCH IN 2011, 235 STUDENTS HAVE RECEIVED MENTORING AND LEADERSHIP TRAINING THROUGH THE FELLOWS PROGRAM.
BY 2026, THE VIRGINIA EMPLOYMENT COMMISSION EXPECTS THERE TO BE 2.6 MILLION MIDDLE SKILLED JOBS IN VIRGINIA JOBS THAT REQUIRE SOME TRAINING, BUT NOT A FOUR-YEAR DEGREE. IN 2016, VIRGINIA'S GENERAL ASSEMBLY ENACTED LANDMARK LEGISLATION, THE NEW ECONOMY WORKFORCE CREDENTIAL GRANT, PROVIDING STATE FINANCIAL AID FOR UP TO 2/3 OF THE COST FOR STUDENTS PURSUING APPROVED NONCREDIT WORKFORCE DEVELOPMENT PROGRAMS THAT PREPARE STUDENTS FOR HIGH DEMAND CAREERS IN TARGETED INDUSTRIES IN THE COMMONWEALTH. OVER 44,000 STUDENTS HAVE EARNED CREDENTIALS IN THESE HIGH DEMAND TRAINING PROGRAMS IN INDUSTRY SECTORS SUCH AS HEALTHCARE, SKILLED TRADES, TRANSPORTATION AND LOGISTICS, EDUCATION, AND INFORMATION TECHNOLOGY. UPON COMPLETION, STUDENTS SEE AVERAGE WAGE GAINS OF 55 PERCENT AND GAIN ACCESS TO BENEFITS SUCH AS EMPLOYER-PAID MEDICAL INSURANCE, PAID VACATION, AND SICK LEAVE. ALTHOUGH PUBLIC FUNDS SUPPORT TWO-THIRDS OF PROGRAM COSTS, OFTENTIMES, PARTICULARLY FOR THOSE FROM UNDERSERVED COMMUNITIES, THE REMAINING ONE-THIRD OR OTHER NON-TUITION BARRIERS INCLUDING TRANSPORTATION, CHILDCARE, AND EQUIPMENT COSTS, SERVE AS A BARRIER TO STARTING OR COMPLETING A SHORT-TERM CREDENTIAL.
THE GREAT EXPECTATIONS PROGRAM IMPROVES THE LIKELIHOOD OF COLLEGE SUCCESS FOR VIRGINIA'S YOUNG PEOPLE WITH FOSTER CARE EXPERIENCE BY PROVIDING SUPPORTS NEEDED TO ACCESS EDUCATIONAL OPPORTUNITIES AND TRANSITION TO INDEPENDENCE. GREAT EXPECTATIONS PROVIDES CAMPUS COACHES TO HELP YOUNG PEOPLE WHO HAVE EXPERIENCED FOSTER CARE BETTER TRANSITION TO AND NAVIGATE THE WORLD OF HIGHER EDUCATION. HAVING MENTORSHIP SUPPORT IS THE CRITICAL LINK IN HELPING THESE VULNERABLE YOUTH ACHIEVE SUCCESS IN COLLEGE. GREAT EXPECTATIONS WAS LAUNCHED IN 2008 TO ADDRESS THE HIGH NUMBER OF YOUNG PEOPLE AGING OUT OF THE FOSTER CARE SYSTEM. SINCE THEN, OVER 3800 AT-RISK STUDENTS HAVE ENROLLED IN COLLEGE AND EARNED 1,651 DEGREES, DIPLOMAS, OR CERTIFICATES FROM VIRGINIA'S COMMUNITY COLLEGES AND THROUGH TRANSFER TO FOUR-YEAR INSTITUTIONS. THROUGH THE SUPPORT OF PASSIONATE DONORS, VFCCE PROVIDES GREAT EXPECTATIONS FUNDING TO STUDENTS AT ALL OF VIRGINIA'S 23 COMMUNITY COLLEGES. GREAT EXPECTATIONS' STUDENTS ALMOST TRIPLE THE COLLEGE GRADUATION RATE FOR FOSTER YOUTH WITH 23% OF GE STUDENTS GRADUATING WITH A COLLEGE CREDENTIAL COMPARED TO ONLY 8% NATIONALLY.
THE RURAL VIRGINIA HORSESHOE INITIATIVE (RVHI), ESTABLISHED IN 2014, HAS BEEN RENAMED TO THE GERALD L. BALILES RURAL VIRGINIA HORSESHOE INITIATIVE AWARD CONTINUING THE MISSION TO RAISE EDUCATIONAL ATTAINMENT LEVELS FOR STUDENTS IN RURAL VIRGINIA. RVHI PROVIDES CAREER COACHES IN RURAL HIGH SCHOOLS TO ENCOURAGE HIGH SCHOOL AND COLLEGE COMPLETION AND OFFERS FINANCIAL INCENTIVES AND TO ASSIST ADULT LEARNERS RETURN TO HIGHER EDUCATION AND TRAINING. 14 RURAL COMMUNITY COLLEGES ARE ELIGIBLE TO PARTICIPATE IN THE PROGRAM. THE PROGRAM HAS TWO 10-YEAR GOALS. ONE IS TO REDUCE THE NUMBER OF RESIDENTS OF THE RURAL HORSESHOE REGION THAT HAVE NOT EARNED A HIGH SCHOOL DIPLOMA BY HALF, FROM 20% TO 10%. SINCE 2012, THAT METRIC HAS LOWERED TO 13.7%. THE OTHER IS TO DOUBLE THE POPULATION IN THE RURAL HORSESHOE WITH AN ASSOCIATE DEGREE OR CAREER CERTIFICATION. IN 2012, THAT PERCENTAGE WAS 26%. AS OF THIS REPORT, THAT METRIC IS UP TO 32%. IN FY'22, 9,880 STUDENTS WERE SERVED BY 54 HIGH SCHOOL CAREER COACHES, EITHER ON A ONE-TO-ONE BASIS, OR IN SMALL GROUPS. A TOTAL OF 51,455 HIGH SCHOOL STUDENTS HAVE BEEN SERVED BY A CAREER COACH BETWEEN JULY 1, 2014 AND JUNE 30, 2022.THANKS TO ENGAGED DONORS, THE VFCCE PROVIDES MATCH FUNDING THAT IS LEVERAGED BY LOCAL COLLEGE FOUNDATIONS TO SUPPORT THE PROGRAM.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
A Michael Wilkerson Director | Trustee | 1 | $0 |
Anna James Treasurer | OfficerTrustee | 1.5 | $0 |
Ben Davenport Jr Board Chair | OfficerTrustee | 1.5 | $0 |
Caroline Petters Sauer Director | Trustee | 1 | $0 |
Cedric Green Director | Trustee | 1 | $0 |
Chris French Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $982,733 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $4,340,734 |
Noncash contributions included in lines 1a–1f | $566,375 |
Total Revenue from Contributions, Gifts, Grants & Similar | $5,323,467 |
Total Program Service Revenue | $0 |
Investment income | $185,385 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $379,392 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $5,888,244 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $1,696,608 |
Grants and other assistance to domestic individuals. | $857,788 |
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 | $673,306 |
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 | $23,396 |
Fees for services: Lobbying | $152,500 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $71,452 |
Fees for services: Other | $112,612 |
Advertising and promotion | $56,945 |
Office expenses | $21,540 |
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 | $87,932 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $3,788,599 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $3,760,321 |
Pledges and grants receivable | $1,654,118 |
Accounts receivable, net | $30,860 |
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 | $7,561,207 |
Investments—other securities | $1,259,754 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $14,266,260 |
Accounts payable and accrued expenses | $415,151 |
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 | $15,504 |
Total liabilities | $430,655 |
Net assets without donor restrictions | $3,794,401 |
Net assets with donor restrictions | $10,041,204 |
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 | $14,266,260 |
Over the last fiscal year, Virginia Foundation For Community College Education has awarded $1,696,516 in support to 27 organizations.
Grant Recipient | Amount |
---|---|
BLUE RIDGE COMMUNITY COLLEGE EDUCATIONAL FOUNDATION PURPOSE: TO SUPPORT HUNGER RELIEF, RURAL VIRGINIA HORSESHOE INITATIVE AND WORKFORCE PROGRAMS | $56,022 |
NORTHERN VIRGINIA COMMUNITY COLLEGE EDUCATIONAL FOUNDATION PURPOSE: TO SUPPORT HUNGER RELIEF AND WORKFORCE PROGRAMS | $19,400 |
CENTRAL VIRGINIA COMMUNITY COLLEGE EDUCATIONAL FOUNDATION PURPOSE: TO SUPPORT HUNGER RELIEF AND WORKFORCE PROGRAMS | $24,400 |
MOUNTAIN GATEWAY COMMUNITY COLLEGE PURPOSE: TO SUPPORT RURAL VIRGINIA HORSESHOE INITIATIVE. | $8,692 |
DANVILLE COMMUNITY COLLEGE EDUCATIONAL FOUNDATION PURPOSE: TO SUPPORT HUNGER RELIEF, RURAL VIRGINIA HORSESHOE INITIATIVE AND WORKFORCE PROGRAMS | $93,000 |
VIRGINIA HIGHLANDS COMMUNITY COLLEGE EDUCATIONAL FOUNDATION PURPOSE: TO SUPPORT GREAT EXPECTATIONS AND RURAL VIRGINIA HORSESHOE INITIATIVE PROGRAMS. | $7,750 |