Walters State Community College Foundation
- Assets
- $27.2m
- Revenue
- $3.6m
- Investments
- $2.3m
- Employees
- 0
- Location
- Morristown, TN
- Founding
- 11/1975
- Data as of
- 06/2021
- EIN
- 51-0162364
Organization Overview
Walters State Community College Foundation is located in Morristown, TN. The organization was established in 1975. 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. Walters State Community 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 06/2021, Walters State Community College Foundation generated $3.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $2.8m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
IT IS THE MISSION OF WALTERS STATE COMMUNITY COLLEGE FOUNDATION TO PROMOTE AND SUPPORT LITERARY, SCIENTIFIC, EDUCATION SCHOLARSHIP, RESEARCH, CHARITABLE AND DEVELOPMENTAL PURPOSES AND OBJECTIVES AT WALTERS STATE COMMUNITY COLLEGE, AND TO ACHIEVE RESULTS AS A 501(C)3 PUBLIC CHARITY CONSISTENT WITH THE LAWS OF THE STATE OF TENNESSEE AND THE INTERNAL REVENUE SERVICE
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORTED WALTERS STATE COMMUNITY COLLEGE WITH PAYMENTS TO OR ON BEHALF OF THE COLLEGE IN SUPPORT OF THEIR MISSION THAT INCLUDED CAMPUS AND INSTRUCTIONAL IMPROVEMENTS.
SCHOLARSHIPS AWARDED TO WALTERS STATE STUDENTS FOR 2019-20 ACADEMIC YEAR AND AWARDS TO FACULTY AND STAFF OF WALTERS STATE COMMUNITY COLLEGE.
EXPENDITURES TO PROMOTE THE COLLEGE AND SUPPORT DEPARTMENTS OF THE COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angela Smith Vice President For Student Affairs | Officer | 0 | $0 |
John Laprise Vice President For Educational Outreach | Officer | 0 | $0 |
Laurence Fleming Professor Of Biology | Officer | 0 | $0 |
Donna Seagle Vice President For Academic Affairs | Officer | 0 | $0 |
Tony Miksa President Walters State Community College | Trustee | 0 | $0 |
Mark Hurst Treasurer And Vice President Business Affairs Walters State Community College | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $28,335 |
| Related organizations | $629 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $601,671 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $630,635 |
| Total Program Service Revenue | $147,823 |
| Investment income | $2,876,935 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$8,557 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,646,836 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $546,013 |
| 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 | $38,645 |
| Fees for services: Other | $0 |
| Advertising and promotion | $95,351 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $259,557 |
| Travel | $0 |
| 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 | $1,756,543 |
| Depreciation, depletion, and amortization | $57,395 |
| Insurance | $17,224 |
| All other expenses | $0 |
| Total functional expenses | $2,770,728 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $94,689 |
| Savings and temporary cash investments | $4,046,368 |
| Pledges and grants receivable | $2,909,195 |
| 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 | $10,391 |
| Net Land, buildings, and equipment | $2,665,049 |
| Investments—publicly traded securities | $15,077,666 |
| Investments—other securities | $2,275,339 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $78,365 |
| Total assets | $27,157,062 |
| Accounts payable and accrued expenses | $8,896 |
| Grants payable | $0 |
| Deferred revenue | $11,308 |
| 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 | $338,570 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $358,774 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $4,287,680 |
| Paid-in or capital surplus, or land, building, or equipment fund | $2,665,049 |
| Retained earnings, endowment, accumulated income, or other funds | $19,845,559 |
| Total liabilities and net assets/fund balances | $27,157,062 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Walters State Community College Foundation has recieved totaling $8,098.
| Awarding Organization | Amount |
|---|---|
Grunt Style Foundation San Antonio, TX PURPOSE: SUPPORT | $5,000 |
Columbus Phipps Fdn Dallas, TX PURPOSE: SCHOLARSHIP GRANT FOR | $3,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $98 |
Endowment Analysis
| Beg. Balance | $12,828,679 |
| Earnings | $2,530,789 |
| Admin Expense | $38,645 |
| Net Contributions | $353,566 |
| Other Expense | $1,373,770 |
| Grants | $539,487 |
| Ending Balance | $13,761,132 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Saint Marys School Raleigh, NC | $74,590,364 | $23,129,284 |
Andrew College Cuthbert, GA | $29,741,190 | $11,623,662 |
Shorter College North Little Rock, AR | $8,338,765 | $8,311,177 |
The Metropolitan Community College Foundation Kansas City, MO | $16,663,239 | $3,405,477 |
Pellissippi State Community College Foundation Knoxville, TN | $20,765,427 | $1,042,268 |
Wilkes Community College Foundation Inc Wilkesboro, NC | $12,311,546 | $8,211,087 |
Crowleys Ridge College Paragould, AR | $5,358,943 | $3,865,992 |
Wake Technical Community College Foundation Inc Raleigh, NC | $24,851,874 | $5,743,743 |
Walters State Community College Foundation Morristown, TN | $27,157,062 | $3,646,836 |
Northwest Arkansas Community College Foundation Inc Bentonville, AR | $44,091,991 | $5,872,868 |
Abraham Baldwin Agricultural College Foundation Inc Tifton, GA | $42,241,656 | $6,873,276 |
Virginia Western Community College Educational Founation Inc Roanoke, VA | $30,928,944 | $10,106,195 |