Cuyahoga Community College Foundati is located in Cleveland, OH. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cuyahoga Community College Foundati 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, Cuyahoga Community College Foundati generated $8.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $8.9m 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
THE MISSION OF THE CUYAHOGA COMMUNITY COLLEGE FOUNDATION IS (CONTINUED ON SCHEDULE O)TO PROVIDE RESOURCES FOR ADVANCING STUDENT SUCCESS AT CUYAHOGA COMMUNITY COLLEGE AND TO TRANSFORM THE LIVES OF THOSE TRI-C SERVES. OUR VISION IS TO ENSURE THAT EVERY TRI-C STUDENT HAS THE RESOURCES NEEDED TO HELP THEM LEARN, THRIVE, AND SUCCEED, CREATING A PROSPEROUS COMMUNITY FOR ALL. OUR FOCUS IS TO REIMAGINE A TRANSFORMED WORKFORCE SYSTEM BY SERVING THOSE MOST IN NEED THROUGH AN ACCESSIBLE, FLEXIBLE AND BARRIER FREE EDUCATION THAT LEADS TO LIFE-CHANGING JOBS, WHILE MEETING THE DEMANDS OF OUR REGION'S VITAL INDUSTRIES.
Describe the Organization's Program Activity:
SCHOLARSHIP PROGRAM: ALTHOUGH THE COLLEGE'S TUITION IS THE LOWEST IN NORTHEAST OHIO, THERE ARE STUDENTS IN OUR COMMUNITY WHO, WITHOUT FINANCIAL ASSISTANCE, CANNOT ACCESS OR CONTINUE THEIR EDUCATION, ESPECIALLY THOSE PURSUING A SHORT-TERM CERTIFICATE THAT IS INELIGIBLE FOR FEDERAL AID. SCHOLARSHIPS ENABLE THOUSANDS OF STUDENTS TO ACCESS AND OBTAIN THEIR COLLEGE EDUCATION, OFTEN REDUCING THE TIME IT TAKES TO GRADUATE. OVER A FIVE-YEAR PERIOD (FY2019-2023), 18,359 SCHOLARSHIPS TOTALING $20.5 MILLION WERE AWARDED TO TRI-C STUDENTS. THE AVERAGE SCHOLARSHIP WAS $1,300. GROWING SCHOLARSHIP OPPORTUNITIES FOR STUDENTS IS AN ONGOING, TOP PRIORITY FOR THE TRI-C FOUNDATION.
EDUCATIONAL DEVELOPMENT: TRI-C FOUNDATION SUPPORTS DEVELOPING AND ENHANCING EDUCATIONAL PROGRAMS IN RESPONSE TO WORKFORCE AND STUDENT NEEDS. A TRI-C EDUCATION IS DESIGNED TO MEET THE EDUCATIONAL, CULTURAL, AND ECONOMIC NEEDS OF OUR COMMUNITIES THROUGH INNOVATIVE PROGRAMMING, ESPECIALLY FOR HIGH-DEMAND CAREERS IN CREATIVE ARTS, HOSPITALITY MANAGEMENT, INFORMATION TECHNOLOGY, MANUFACTURING, NURSING AND HEALTH PROFESSIONS, AND PUBLIC SAFETY. HIGH-QUALITY, INDUSTRY-RELEVANT COURSES, AND COMPREHENSIVE, HANDS-ON TRAINING ENSURE THAT STUDENTS GAIN A COMPETITIVE EDGE TO PREPARE FOR SUCCESS IN TODAY'S JOB MARKET. (CONTINUED ON SCHEDULE O)TRI-C PROGRAMS ALIGN WITH KEY AREAS THAT ANTICIPATE FUTURE JOB GROWTH; GRADUATE WORKERS WITH THE SKILLS LOCAL EMPLOYERS SEEK; DEMONSTRATE HIGH SUCCESS RATES; USE STATE-OF-THE-ART FACILITIES; AND RECEIVE NATIONAL RECOGNITION.
TRI-C IS AMONG THE NATION'S TOP 150 COMMUNITY COLLEGES, ACCORDING TO THE ASPEN INSTITUTE COLLEGE EXCELLENCE PROGRAM. COLLEGE-WIDE INITIATIVES ARE INCREASING GRADUATION RATES, AND THE NUMBER OF WORKFORCE CREDENTIALS AWARDED ANNUALLY. CHARITABLE INVESTMENTS HELP TO GROW RESOURCES THAT ADDRESS EQUITY GAPS IN SUCCESS AND COMPLETION, SUCH AS EXPANDING CAMPUS FOOD PANTRIES AND MAINTAINING A STUDENT EMERGENCY FUND TO COVER CRISIS EXPENSES. HELPING STUDENTS TO PREPARE FOR A CAREER AFTER COMPLETION IS A PRIORITY, THROUGH PAID INTERNSHIPS AND WORK READINESS GRANTS TO PURCHASE ESSENTIAL WORK TOOLS OR EQUIPMENT.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
James B Aronoff Vice Chairperson | OfficerTrustee | 2 | $0 |
Christopher D Bart Director | Trustee | 2 | $0 |
Michael A Baston JD Edd Director | Trustee | 2 | $0 |
Gail A Bowen Director | Trustee | 2 | $0 |
Micki Byrnes Director | Trustee | 2 | $0 |
Craig Cantrall Director | Trustee | 2 | $0 |
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 | $5,708,013 |
Noncash contributions included in lines 1a–1f | $275,132 |
Total Revenue from Contributions, Gifts, Grants & Similar | $5,708,013 |
Total Program Service Revenue | $0 |
Investment income | $1,624,599 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $263,007 |
Net Income from Fundraising Events | $966,253 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $8,561,872 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $7,931,190 |
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 | $4,640 |
Fees for services: Accounting | $33,634 |
Fees for services: Lobbying | $150,000 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $71,799 |
Fees for services: Other | $521,835 |
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 | $147,935 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $5,695 |
All other expenses | $21,173 |
Total functional expenses | $8,887,901 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $3,180,501 |
Pledges and grants receivable | $5,359,679 |
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 | $75,000 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $67,930,779 |
Investments—other securities | $26,950,766 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $666,616 |
Total assets | $104,163,341 |
Accounts payable and accrued expenses | $75,206 |
Grants payable | $0 |
Deferred revenue | $398,761 |
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 | $2,035,324 |
Total liabilities | $2,509,291 |
Net assets without donor restrictions | $263,586 |
Net assets with donor restrictions | $101,390,464 |
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 | $104,163,341 |