Clark Technical College Scholarship Foundation
- Assets
- $26.5m
- Revenue
- $14.1m
- Investments
- $26.1m
- Employees
- 5
- Location
- Springfield, OH
- Founding
- 04/1968
- Data as of
- 06/2022
- EIN
- 31-0937036
Organization Overview
Clark Technical College Scholarship Foundation is located in Springfield, OH. The organization was established in 1968. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, under the broad grouping of Education and related organizations. As of 06/2022, Clark Technical College Scholarship Foundation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clark Technical College Scholarship 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, Clark Technical College Scholarship Foundation generated $14.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 60.2% each year . All expenses for the organization totaled $699.5k during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION AIDS AND PROMOTES EDUCATION AT CLARK STATE COLLEGE AND PROVIDES SCHOLARSHIPS AND LOANS TO ITS STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERAL SUPPORT OF CLARK STATE COMMUNITY COLLEGE.
SCHOLARSHIPS AND LOANS - CLARK STATE'S TUITION IS VERY LOW,APPROXIMATELY $4,800 PER YEAR. BUT FOR MANY STUDENTS, THAT IS STILL OUTOF REACH. EACH YEAR THE FOUNDATION HELPS APPROXIMATELY 173 STUDENTSWITH AWARDS TOTALING APPROXIMATELY $200,000. GIFTS TO OUR SCHOLARHIPFUNDS CAN HELP TRANSFORM LIVES THROUGH THE POWER OF EDUCATION ANDPROVIDES OUR COMMUNITY WITH VARIOUS PROFESSIONALS. AN INVESTMENT IN OURSTUDENTS IS AN EXCELLENT INVESTMENT IN CLARK COUNTY'S ECONOMICDEVELOPMENT, AS 85% OF CLARK STATE GRADUATES STAY IN OUR COMMUNITY. INADDITION TO SCHOLARSHIPS, THE FOUNDATION ALSO MAKES SHORT-TERM LOANSFOR TUITION AND BOOKS TO STUDENTS WHO ARE WAITING FOR FINANCIAL AID.
THE CLARK STATE SCHOLARS PROGRAM INCLUDES STUDENTS FROM FIVE SCHOOLDISTRICTS IN CLARK AND CHAMPAIGN COUNTIES. THE PROGRAM SELECTS 40EIGHTH GRADE STUDENTS IN SPRINGFIELD, 20 EIGHTH GRADE STUDENTS FROMADDITIONAL CLARK COUNTY PARTNER SCHOOLS, AND 20 EIGHTH GRADE STUDENTSFROM CHAMPAIGN COUNTY PARTNER SCHOOLS ANNUALLY TO PARTICIPATE.EACH SCHOLAR IS PARTNERED WITH A VOLUNTEER MENTOR WHOM THEY MEET WITHMONTHLY. SCHOLARS ALSO ATTEND RETREATS, AFTER SCHOOL ACTIVITY DAYS, ANDFIELD TRIPS THAT PROVIDE CAREER AND COLLEGE READINESS ACTIVITIESTHROUGHOUT THE SCHOOL YEAR, ALIGNING THIS PROGRAM WITH THE SPRINGFIELDFOUNDATION'S GOAL TO INCREASE THE COLLEGE AND CAREER READINESS FORCLARK COUNTY RESIDENTS. UPON SUCCESSFUL COMPLETION OF THE PROGRAM ANDGRADUATION FROM THEIR HIGH SCHOOL, THE SCHOLARS RECEIVE THREE YEARS OF FREE TUITION, FEES, AND BOOKS AT CLARK STATE, WHERE THEY CONTINUE TO RECEIVE ACADEMIC AND SOCIAL SUPPORT. THE PROGRAM SERVED 265 PARTICIPANTS IN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Jo Alice Blondin College Pres. | Officer | 3 | $0 |
Nettie Carter-Smith Director | Trustee | 1 | $0 |
Sarah Mays Director | Trustee | 1 | $0 |
John A Brown Director | Trustee | 1 | $0 |
Tera Thornton Director | Trustee | 1 | $0 |
Dr Robert Hill Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $3,131 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $482,505 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $485,636 |
| Total Program Service Revenue | $0 |
| Investment income | $514,515 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,949,002 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,057,417 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $251,288 |
| Grants and other assistance to domestic individuals. | $140,632 |
| 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 | $134,127 |
| Pension plan accruals and contributions | $19,006 |
| Other employee benefits | $15,562 |
| Payroll taxes | $1,970 |
| Fees for services: Management | $11,875 |
| 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 | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,212 |
| Office expenses | $15,733 |
| Information technology | $16,874 |
| Royalties | $0 |
| Occupancy | $26,487 |
| Travel | $8,854 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,493 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $699,506 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $277,592 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $30,431 |
| Accounts receivable, net | $57,099 |
| 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 | $10,871 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $26,130,255 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $34 |
| Total assets | $26,506,282 |
| Accounts payable and accrued expenses | $61,596 |
| Grants payable | $0 |
| Deferred revenue | $360 |
| 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 | $61,956 |
| Net assets without donor restrictions | $831,524 |
| Net assets with donor restrictions | $25,612,802 |
| 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 | $26,506,282 |