Wor-Wic Community College Foundation
- Assets
- $29.9m
- Revenue
- $7.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Salisbury, MD
- Founding
- 02/1983
- Data as of
- 06/2022
- EIN
- 52-1264019
Organization Overview
Wor-Wic Community College Foundation is located in Salisbury, MD. The organization was established in 1983. 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. Wor-Wic 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 06/2022, Wor-Wic Community College Foundation generated $7.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 51.6% each year . All expenses for the organization totaled $1.0m during the year ending 06/2022. While expenses have increased by 4.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
NOT FOR PROFIT ORGANIZATION ESTABLISHED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES TO BENEFIT WOR-WIC COMMUNITY COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDED FUNDING TO WOR-WIC COMMUNITY COLLEGE TO PROVIDE STUDENTS WITH SCHOLARSHIPS IN ORDER TO FURTHER THEIR EDUCATION.
THE FOUNDATION PROVIDED FINANCIAL ASSISTANCE TO VARIOUS DEPARTMENTS OF WOR-WIC COMMUNITY COLLEGE.
THE FOUNDATION PROVIDES EMERGENCY RELIEF TO WOR-WIC COMMUNITY COLLEGE STUDENTS AND EMPLOYEES IN NEED OF IMMEDIATE FINANCIAL ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathleen Abercrombie Chairperson | OfficerTrustee | 1 | $0 |
Phyllis Vinyard Secretary | OfficerTrustee | 1 | $0 |
Jason Parker Treasurer | OfficerTrustee | 1 | $0 |
Mike Marshall Vice Chairperson | OfficerTrustee | 1 | $0 |
Jessica Hales Executive Director | Officer | 2 | $0 |
Christopher Mancini Director | Trustee | 1 | $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 | $6,986,404 |
| Noncash contributions included in lines 1a–1f | $2,098 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,986,404 |
| Total Program Service Revenue | $0 |
| Investment income | $4,170 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $93,096 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,083,670 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $714,241 |
| Grants and other assistance to domestic individuals. | $101,177 |
| 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 | $2,065 |
| Fees for services: Accounting | $7,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $175,514 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,011 |
| Office expenses | $1,389 |
| 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 | $1,192 |
| All other expenses | $0 |
| Total functional expenses | $1,015,451 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,060,172 |
| Savings and temporary cash investments | $5,006,879 |
| Pledges and grants receivable | $2,530,605 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,276,241 |
| Total assets | $29,873,897 |
| Accounts payable and accrued expenses | $2,872 |
| Grants payable | $65,313 |
| Deferred revenue | $4,500 |
| 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 | $72,685 |
| Net assets without donor restrictions | $6,436,593 |
| Net assets with donor restrictions | $23,364,619 |
| 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 | $29,873,897 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Wor-Wic Community College Foundation has recieved totaling $1,071,191.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of The Eastern Shore Inc Salisbury, MD PURPOSE: EDUCATION | $457,305 |
Richard A Henson Charitable Foundation Inc Salisbury, MD PURPOSE: CAPITAL CAMPAIGN | $400,000 |
Dunahoo Family Foundation Inc Millersville, MD PURPOSE: CHARITABLE | $100,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $100,000 |
Ed Whittington Charitable Tr Salisbury, MD PURPOSE: GENERAL SUPPORT | $7,886 |
Patricia And Alan Guerrieri Family Foundation Inc Ocean City, MD PURPOSE: GENERAL SUPPORT | $3,500 |
Endowment Analysis
| Beg. Balance | $21,771,780 |
| Earnings | -$2,704,462 |
| Admin Expense | $175,514 |
| Net Contributions | $2,720,204 |
| Grants | $338,267 |
| Ending Balance | $21,273,741 |