Kirkwood Community College Foundation
- Assets
- $43.5m
- Revenue
- $11.7m
- Investments
- $2.1m
- Employees
- 0
- Location
- Cedar Rapids, IA
- Founding
- 12/1970
- Data as of
- 06/2022
- EIN
- 23-7076632
Organization Overview
Kirkwood Community College Foundation is located in Cedar Rapids, IA. The organization was established in 1970. 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. Kirkwood 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 06/2022, Kirkwood Community College Foundation generated $11.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.7% each year . All expenses for the organization totaled $4.3m during the year ending 06/2022. While expenses have increased by 2.3% 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 2019, Kirkwood Community College Foundation has awarded 11 individual grants totaling $1,763,655. 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 SUPPORT THE EDUCATION AND DEVELOPMENT NEEDS OF KCC'S STUDENTS BY PROVIDING RESOURCES NOT AVAILABLE THROUGH PUBLIC FUNDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS: KCCF HELPS STUDENTS WHO WISH TO ENHANCE THEIR LIVES THROUGH EDUCATION AND TRAINING BY OFFERING FINANCIAL ASSISTANCE THROUGH SCHOLARSHIPS.
COLLEGE SUPPORT: EQUIPMENT AND OTHER INSTRUCTIONAL SUPPORT TO PROVIDE LEARNING OPPORTUNITIES FOR KCC STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Caves Board President | OfficerTrustee | 2 | $0 |
Paul Morf Board Secretary | OfficerTrustee | 2 | $0 |
Anne Parmley Board Vice-President | OfficerTrustee | 2 | $0 |
Deb Gertsen Board Treasurer | OfficerTrustee | 2 | $0 |
Jody Pellerin Executive Director | Officer | 40 | $0 |
Andrea Moore Senior Accountant | Officer | 20 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,940,229 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,583,854 |
| Noncash contributions included in lines 1a–1f | $169,670 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,524,083 |
| Total Program Service Revenue | $0 |
| Investment income | $699,286 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,477,557 |
| Net Income from Fundraising Events | $47,778 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,748,704 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $599,378 |
| Grants and other assistance to domestic individuals. | $3,370,443 |
| 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 | $19,786 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $73,056 |
| Fees for services: Other | $23,512 |
| Advertising and promotion | $14,870 |
| Office expenses | $42,445 |
| Information technology | $73,326 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,754 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,223 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $75,463 |
| Total functional expenses | $4,300,256 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,550,303 |
| Savings and temporary cash investments | $1,364,056 |
| Pledges and grants receivable | $131,500 |
| 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 | $50,194 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $37,968,077 |
| Investments—other securities | $2,106,954 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $369,258 |
| Total assets | $43,540,342 |
| Accounts payable and accrued expenses | $16,808 |
| 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 | $1,537,092 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $930,549 |
| Total liabilities | $2,484,449 |
| Net assets without donor restrictions | $40,801,649 |
| Net assets with donor restrictions | $254,244 |
| 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 | $43,540,342 |
Grants Awarded
Over the last fiscal year, Kirkwood Community College Foundation has awarded $599,378 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
KIRKWOOD COMMUNITY COLLEGE PURPOSE: EQUIPMENT EXPENSES & INSTRUCTIONAL DEPARTMENT SUPPORT. | $588,518 |
Ames, IA PURPOSE: SCHOLARSHIPS | $10,860 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Kirkwood Community College Foundation has recieved totaling $12,450.
| Awarding Organization | Amount |
|---|---|
Mount Saint Clare Education Charitable Trust Clinton, IA PURPOSE: SCHOLARSHIPS | $12,450 |
Endowment Analysis
| Beg. Balance | $42,727,217 |
| Earnings | -$5,607,889 |
| Net Contributions | $2,015,836 |
| Grants | $1,501,866 |
| Ending Balance | $37,633,298 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Augustine College Chicago, IL | $15,853,961 | $18,146,895 |
Pierce Mortuary Colleges Inc Broadview, IL | $14,603,316 | $16,634,477 |
Metropolitan Community College Foundation Omaha, NE | $18,326,887 | $11,124,448 |
College Of The Menominee Nation Keshena, WI | $15,783,806 | $11,637,458 |
Lac Courte Oreilles Ojibwe College Hayward, WI | $16,000,980 | $10,229,989 |
Central Community College Foundation Inc Hastings, NE | $18,731,696 | $3,222,811 |
The Metropolitan Community College Foundation Kansas City, MO | $16,663,239 | $3,405,477 |
Southeast Community College Educational Fdn Lincoln, NE | $34,869,920 | $7,534,713 |
Westside Community Schools Foundation Inc Omaha, NE | $4,889,901 | $5,389,514 |
Red Lake Nation College Red Lake, MN | $10,975,659 | $17,279,436 |
Kirkwood Community College Foundation Cedar Rapids, IA | $43,540,342 | $11,748,704 |
Southeastern Community College Foundation West Burlington, IA | $16,375,654 | $3,936,639 |