Chippewa Valley Technical College Foundation Inc
- Assets
- $5.5m
- Revenue
- $406.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Eau Claire, WI
- Founding
- 03/1976
- Data as of
- 06/2022
- EIN
- 39-1233557
Organization Overview
Chippewa Valley Technical College Foundation Inc is located in Eau Claire, WI. The organization was established in 1976. 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. Chippewa Valley Technical 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 06/2022, Chippewa Valley Technical College Foundation Inc generated $406.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (11.1%) each year. All expenses for the organization totaled $824.0k 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
TO ASSIST THE CHIPPEWA VALLEY TECHNICAL COLLEGE IN CARRYING OUT ITS MISSION OF PROVIDING POSTSECONDARY OCCUPATIONAL EDUCATION AND TRAINING AS WELL AS OTHER COMMUNITY SERVICES TO THE RESIDENTS OF THE COUNTIES, MUNICIPALITIES, AND SCHOOL DISTRICTS WITHIN ITS DISTRICT BOUNDARIES. TO THIS END, THE ACTIVITIES OF CHIPPEWA VALLEY TECHNICAL COLLEGE FOUNDATION MAY INCLUDE, BUT ARE NOT LIMITED TO, ASSISTING THE CHIPPEWA VALLEY TECHNICAL COLLEGE IN: PURCHASING, LEASING, AND MANAGING LAND; CONSTRUCTING, PURCHASING, LEASING, AND MANAGING FACILITIES AND EQUIPMENT; PROVIDING FINANCIAL AID AND ASSISTANCE TO STUDENTS AT ALL OF ITS CAMPUSES; OFFERING PROFESSIONAL DEVELOPMENT OPPORTUNITIES TO ITS EMPLOYEES; AND SUPPORTING ECONOMIC DEVELOPMENT IN ITS DISTRICT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS AND GRANTS - SECURING RESOURCES WHICH PROVIDE STUDENT SCHOLARSHIPS. DURING FISCAL YEAR 2022 542 SCHOLARSHIPS WERE AWARDED.
PROGRAM SERVICES - OTHER - CHIPPEWA VALLEY TECHNICAL COLLEGE FOUNDATION, INC. EXISTS TO ENHANCE THE VISION AND MISSION OF THE CHIPPEWA VALLEY TECHNICAL COLLEGE. THIS TASK IS ACCOMPLISHED BY SECURING RESOURCES WHICH WILL PROVIDE STUDENT SCHOLARSHIPS, SUPPORT STAFF INITIATIVES, INVEST IN TECHNOLOGY, AND PROVIDE FOR ONGOING FACILITY DEVELOPMENT. CHIPPEWA VALLEY TECHNICAL COLLEGE FOUNDATION, INC., ENGAGES VOLUNTEERS AND STAFF IN BUILDING A PHILANTHROPIC CULTURE THROUGH CULTIVATING FRIENDS AND ALUMNI, RAISING FUNDS, PROVIDING STUDENT SCHOLARSHIPS, AND MANAGING THE RESOURCES INVESTED BY THE FOUNDATION FOR CHIPPEWA VALLEY TECHNICAL COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Hoffmann President | OfficerTrustee | 1 | $0 |
Gordon Howie Vice President | OfficerTrustee | 1 | $0 |
Paul Kohler Treasurer/secretary | OfficerTrustee | 1 | $0 |
Karen Kohler Executive Director | Officer | 8 | $0 |
Megan Bollman Board Member | Trustee | 1 | $0 |
Sheri Scheidler Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $107,425 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,267,693 |
| Noncash contributions included in lines 1a–1f | $69,041 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,375,118 |
| Total Program Service Revenue | $51,571 |
| Investment income | $69,090 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,089,350 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $406,429 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $226,382 |
| Grants and other assistance to domestic individuals. | $480,092 |
| 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 | $18,091 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $72,181 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $908 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,000 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,391 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $824,045 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,826 |
| Savings and temporary cash investments | $768,412 |
| Pledges and grants receivable | $112,668 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,642,787 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,540,693 |
| 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 | $1,382,333 |
| Net assets with donor restrictions | $4,158,360 |
| 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 | $5,540,693 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Chippewa Valley Technical College Foundation Inc has recieved totaling $156,635.
| Awarding Organization | Amount |
|---|---|
United Way Of The Greater Chippewa Valley Inc Eau Claire, WI PURPOSE: DENTAL CLINIC AND MICRO GRANTS TO CVTC STUDENTS | $124,606 |
Eau Claire Community Foundation Eau Claire, WI PURPOSE: SCHOLARSHIPS | $17,280 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $7,000 |
Xcel Energy Foundation Minneapolis, MN PURPOSE: EDUCATION GRANT | $5,000 |
C H Robinson Worldwide Foundation Sioux Falls, SD PURPOSE: GENERAL OPERATING FUND | $1,600 |
Milton A Krom Scholarship Trust 31a039002 Green Bay, WI PURPOSE: SCHOLARSHIP | $1,000 |
Endowment Analysis
| Beg. Balance | $3,702,245 |
| Earnings | -$331,387 |
| Net Contributions | $215,188 |
| Other Expense | $168,543 |
| Ending Balance | $3,417,503 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bethany Lutheran College & Seminary Inc Mankato, MN | $102,688,428 | $36,614,308 |
Baker College Flint, MI | $33,049,782 | $27,043,165 |
Baker College Flint, MI | $48,464,572 | $25,592,429 |
Lincoln University Lincoln, IL | $52,024,030 | $25,875,577 |
Baker College Flint, MI | $39,254,865 | $22,321,880 |
Finlandia University Hancock, MI | $36,184,751 | $18,081,025 |
St Augustine College Chicago, IL | $15,853,961 | $18,146,895 |
Pierce Mortuary Colleges Inc Broadview, IL | $14,603,316 | $16,634,477 |
Baker College Flint, MI | $17,958,758 | $9,486,714 |
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 |
Red Lake Nation College Red Lake, MN | $10,975,659 | $17,279,436 |