Clark Community College District 14 Foundation
- Assets
- $117.4m
- Revenue
- $6.3m
- Investments
- $42.3m
- Employees
- 22
- Location
- Vancouver, WA
- Founding
- 10/1973
- Data as of
- 06/2023
- EIN
- 23-7315006
Organization Overview
Clark Community College District 14 Foundation, operating under the name Clark College Foundation, is located in Vancouver, WA. The organization was established in 1973. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2023, Clark College Foundation employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clark 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, Clark College Foundation generated $6.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.6%) each year. All expenses for the organization totaled $6.5m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CLARK COLLEGE FOUNDATION EXISTS TO PROVIDE FUNDING FOR FACILITIES, PROGRAMS, AND STUDENT NEEDS AT CLARK COLLEGE. IN ORDER TO MAINTAIN CLARK'S EXCELLENCE, THE FOUNDATION SEEKS PRIVATE FUNDING TO SUPPLEMENT GOVERNMENT SUPPORT; MAXIMIZE STUDENT ACCESS TO EDUCATION PROGRAMS AND SERVICES; AND TO CULTIVATE COMMUNITY, BUSINESS, AND GOVERNMENTAL PARTNERSHIPS FOR THE BENEFIT OF THE COLLEGE.
Describe the Organization's Program Activity:
GENERAL PROGRAM FUNDING, VOCATIONAL PROGRAM FUNDING, AND CAPITAL SUPPORT FROM THE FOUNDATION SUPPORTS THE MISSION OF CLARK COLLEGE TO GUIDE INDIVIDUALS TO ACHIEVE THEIR EDUCATIONAL AND PROFESSIONAL GOALS.EXPENDITURES INCLUDED EQUIPMENT AND FURNISHINGS, FUNDS FOR CULINARY RENNOVATION PAYMENTS, SOFTWARE, COMPUTER UPGRADES, AND PROFESSIONAL DEVELOPMENT & CONTINUING EDUCATION FOR COLLEGE FACULTY AND STAFF.
OTHER PROGRAM EXPENDITURES INCLUDE CAPITAL EXPENDITURES ON BEHALF OF CLARK COLLEGE, SCHOLARSHIP MANAGEMENT SERVICES, INVESTMENT MANAGEMENT SERVICES FOR OVER 200 ENDOWMENTS SUPPORTING SCHOLARSHIPS AND COLLEGE PROGRAMS, AND EXPENDITURES IN SUPPORT OF FOSTERING A PARTNERSHIP BETWEEN CLARK COLLEGE AND THE COMMUNITY.
OVER 700 SCHOLARSHIPS AND EMERGENCY GRANTS AWARDED TO CLARK COLLEGE STUDENTS. SCHOLARSHIPS SUPPORT STUDENTS IN REACHING THEIR EDUCATIONAL GOALS AND MAKE IT POSSIBLE, IN MANY CASES, FOR STUDENTS TO RECEIVE A COLLEGE EDUCATION THEY COULD NOT OTHERWISE AFFORD. THE FOUNDATION ENSURES DONOR GUIDELINES ESTABLISHED FOR EACH SCHOLARSHIP FUND ARE FOLLOWED IN AWARDING SCHOLARSHIPS.
DIRECT PROGRAM EXPENDITURES INCLUDE SUPPORT FOR PROGRAMS INCLUDING SCIENCE, TECHNOLOGY, ENGINEERING, MATHEMATICS, BUSINESS, BUSINESS TECHNOLOGY, PROFESSIONAL & TECHNICAL PROGRAMS, COMPUTERS & DIGITAL, HEALTH CARE, CULINARY, AND ARTS & HUMANITIES. SUPPORT IS ALSO PROVIDED FOR VETERANS CENTER OF EXCELLENCE, INTERNATIONAL PROGRAMS, DIVERSITY, EQUITY & INCLUSION INITIATIVES, LIBRARY AND E-LEARNING SERVICES. FUNDING ORIGINATES FROM ENDOWMENT DISTRIBUTIONS AS WELL AS DONATIONS TO DEPARTMENTS AND PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joel Munson Former Chief Advancement Officer | 40 | $220,000 | |
Lisa Gibert CPA Cfre Former Chief Executive Officer | 40 | $199,731 | |
Daniel Rogers CPA Chief Financial Officer/secretary | Officer | 40 | $158,258 |
Calen Ouellette Chief Executive Officer/cao | OfficerTrustee | 40 | $141,846 |
Leanne Bremer Chair | OfficerTrustee | 6 | $0 |
Patrick Ginn Vice Chair | OfficerTrustee | 6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $227 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $135,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,182,090 |
| Noncash contributions included in lines 1a–1f | $381,303 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,317,317 |
| Total Program Service Revenue | $161,543 |
| Investment income | $1,422,620 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,419,233 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,282,562 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $865,423 |
| Grants and other assistance to domestic individuals. | $1,255,884 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $422,982 |
| Compensation of current officers, directors, key employees. | $222,156 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,474,000 |
| Pension plan accruals and contributions | $50,115 |
| Other employee benefits | $162,136 |
| Payroll taxes | $137,659 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,005 |
| Fees for services: Accounting | $75,331 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $195,743 |
| Fees for services: Other | $672,031 |
| Advertising and promotion | $12,734 |
| Office expenses | $384,906 |
| Information technology | $67,114 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $91,411 |
| 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 | $28,717 |
| Insurance | $36,014 |
| All other expenses | $300,979 |
| Total functional expenses | $6,547,711 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $322,468 |
| Savings and temporary cash investments | $287,574 |
| Pledges and grants receivable | $1,700,749 |
| Accounts receivable, net | $171,026 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $21,043 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $216,314 |
| Net Land, buildings, and equipment | $10,392,477 |
| Investments—publicly traded securities | $57,029,702 |
| Investments—other securities | $42,287,102 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,012,406 |
| Total assets | $117,440,861 |
| Accounts payable and accrued expenses | $1,118,376 |
| 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 | $1,512,299 |
| Total liabilities | $2,630,675 |
| Net assets without donor restrictions | $31,012,690 |
| Net assets with donor restrictions | $83,797,496 |
| 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 | $117,440,861 |