Delaware Technical & Community College Educational Foundation 866
- Assets
- $34.0m
- Revenue
- $2.8m
- Investments
- $2.6k
- Employees
- 1
- Location
- Dover, DE
- Founding
- 03/1969
- Data as of
- 12/2022
- EIN
- 51-0246178
Organization Overview
Delaware Technical & Community College Educational Foundation 866 is located in Dover, DE. The organization was established in 1969. 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. Delaware Technical & Community College Educational Foundation 866 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 12/2022, Delaware Technical & Community College Educational Foundation 866 generated $2.8m 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 (3.6%) each year. All expenses for the organization totaled $1.9m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Delaware Technical & Community College Educational Foundation 866 has awarded 16 individual grants totaling $16,192,391. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FINANCIAL ASSISTANCE TO DELAWARE TECHNICAL & COMMUNITY COLLEGE
Describe the Organization's Program Activity:
Part 3 - Line 4a
AWARDS AND DONATIONS TO DELAWARE TECHNICAL & COMMUNITY COLLEGE FOR SUPPORT, EQUIPMENT, & IMPROVEMENT PURPOSES
SCHOLARSHIPS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy J Shevock Chairman | Trustee | 0 | $0 |
Patti A Grimes Vice Chairman | Trustee | 0 | $0 |
Michael J Hare Board Member | Trustee | 0 | $0 |
Robert E Hagerty Board Member | Trustee | 0 | $0 |
Lolita A Lopez Board Member | Trustee | 0 | $0 |
Diane F Glenn Board Member | Trustee | 0 | $0 |
Financial Statements
| 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 | $1,680,841 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,680,841 |
| Total Program Service Revenue | $0 |
| Investment income | $739,623 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $223,014 |
| Net Income from Fundraising Events | $115,693 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,759,171 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,792,427 |
| 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 | $64,199 |
| 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 | $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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $36,071 |
| Total functional expenses | $1,892,697 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,470,234 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $470,528 |
| 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 | $33,082 |
| Net Land, buildings, and equipment | $981,667 |
| Investments—publicly traded securities | $28,957,664 |
| Investments—other securities | $2,629 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,050,132 |
| Total assets | $33,965,936 |
| Accounts payable and accrued expenses | $196,928 |
| 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 | $37,792 |
| Total liabilities | $234,720 |
| Net assets without donor restrictions | $17,293,630 |
| Net assets with donor restrictions | $16,437,586 |
| 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 | $33,965,936 |
Grants Awarded
Over the last fiscal year, Delaware Technical & Community College Educational Foundation 866 has awarded $1,792,427 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
DELAWARE TECHNICAL & COMMUNITY COLLEGE A DIVISION OF THE STATE OF DELAWARE PURPOSE: SUPPORT, EQUIPMENT & IMPROVEMENT PROCESS | $968,764 |
DELAWARE TECHNICAL & COMMUNITY COLLEGE A DIVISION OF THE STATE OF DELAWARE PURPOSE: SCHOLARSHIP ASSISTANCE | $823,663 |