Rockingham Community College Foundation Inc
- Assets
- $20.7m
- Revenue
- $349.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Wentworth, NC
- Founding
- 03/1974
- Data as of
- 06/2023
- EIN
- 23-7361816
Organization Overview
Rockingham Community College Foundation Inc is located in Wentworth, NC. The organization was established in 1974. 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. Rockingham Community College Foundation Inc 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, Rockingham Community College Foundation Inc generated $349.6k 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 (21.1%) each year. All expenses for the organization totaled $492.0k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (14.3%) per year over the past 5 years. 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 ROCKINGHAM COMMUNITY COLLEGE FOUNDATION EXISTS TO ASSIST AND SUPPORT ROCKINGHAM COMMUNITY COLLEGE
Describe the Organization's Program Activity:
Part 3 - Line 4a
CAMPUS FUND DRIVE AND ANNUAL GIVING CAMPAIGN PROVIDE FOR FACULTY AND STAFF GRANTS, SCHOLARSHIPS AND OTHER CAMPUS-WIDE INITIATIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles R Wharton President | OfficerTrustee | $0 | |
Rhonda M Holland VP Of Appropriations | OfficerTrustee | $0 | |
J Pleasant Mcmichael First Vice President | OfficerTrustee | $0 | |
Howard K Duncan VP Of Investments | OfficerTrustee | $0 | |
Amy S Brown Treasurer | OfficerTrustee | $0 | |
Arnold F Robertson VP Of Resources | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $16,883 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $480,106 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $496,989 |
| Total Program Service Revenue | $0 |
| Investment income | $413,314 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$560,659 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $349,644 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $240,758 |
| 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 | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $79,707 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,711 |
| Office expenses | $4,752 |
| Information technology | $7,281 |
| 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 | $153 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,673 |
| All other expenses | $0 |
| Total functional expenses | $491,996 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $888,870 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,510 |
| 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 | $19,736,792 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $112,035 |
| Total assets | $20,742,207 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $9,036,056 |
| Net assets with donor restrictions | $11,706,151 |
| 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 | $20,742,207 |