Brightpoint Community College Foundation
- Assets
- $9.1m
- Revenue
- $2.1m
- Investments
- $1.5m
- Employees
- 0
- Location
- Midlothian, VA
- Founding
- 12/1985
- Data as of
- 06/2023
- EIN
- 52-1389646
Organization Overview
Brightpoint Community College Foundation is located in Midlothian, VA. The organization was established in 1985. 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. Brightpoint 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 06/2023, Brightpoint Community College Foundation generated $2.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.5% each year . All expenses for the organization totaled $1.7m during the year ending 06/2023. While expenses have increased by 9.3% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE BRIGHTPOINT COMMUNITY COLLEGE FOUNDATION ACQUIRES VITAL RESOURCES THAT ADVANCE THE COLLEGE'S MISSION TO PROVIDE SUPERIOR, AFFORDABLE, AND ACCESSIBLE EDUCATION TO MEMBERS OF THE COMMUNITY. THE FOUNDATION SEEKS THE TIME, TALENT, AND FINANCIAL SUPPORT OF INDIVIDUALS, BUSINESSES AND PRIVATE FOUNDATIONS TO HELP FUND STUDENT SUPPORT INITIATIVES SUCH AS SCHOLARSHIPS AND EMERGENCY FUNDS; ACADEMIC AND WORKFORCE PROGRAM DEVELOPMENT AND EXPANSION; AND OTHER CRITICAL STUDENT AND COLLEGE NEEDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE FISCAL YEAR, BCC FOUNDATION PROVIDED MORE THAN $633,000 IN SUPPORT TO THE COLLEGE AND STUDENTS, INCLUDING APPROXIMATELY $272,000 IN SCHOLARSHIPS AND GRANTS AND MORE THAN $323,000 IN SUPPORT FOR ACADEMIC PROGRAMS, FACULTY, EQUIPMENT, STUDENT EMERGENCY AID, AND OTHER STUDENT SUPPORT PROGRAMS. DURING THE FISCAL YEAR, THE FOUNDATION PROVIDED $38,000 IN EMERGENCY FUND SUPPRT FOR STUDENTS, ASSISTING THEM WITH BASIC NEEDS SUCH AS HOUSING, UTILITIES AND FOOD AS WELL AS ACADEMIC SUPPORT INCLUDING BOOKS, INTERNET ACCESS AND TRANSPORATION.IN FY23, THE FOUNDATION SUCCESSFULLY ENGAGED INVESTMENTS THAT SUPPORT COLLEGE PROGRAM DEVELOPMENT AND EXPANSION AND DISBURSED PREVIOUSLY SECURED GRANT FUNDING TO ADVANCE COLLEGE INITIATIVES. THE FOUNDATION SECURED $570,000 IN NEW GRANT FUNDING TO LAUNCH A NEW MANUFACTURING/SKILLED TRADES OUTREACH INITIATIVE AT THE COLLEGE. IN ADDITION, THE FOUNDATION DISTRIBUTED $797,000 IN PREVIOUSLY SECURED AND REIMBURSABLE GRANT FUNDING TO SUPPORT NEW PHARMACEUTICAL MANUFACTURING WORKFORCE TRAINING AND EDUCATION PROGRAMS AT THE COLLEGE. FURTHER, THE FOUNDATION SECURED $255,000 IN GRANT FUNDING TO SUPPLEMENT ONGOING HEALTHCARE PROGRAM EXPANSION AT THE COLLEGE, BRINGING TOTAL GRANT FUNDS RAISED FOR THIS INITIATIVE TO MORE THAN $825,000. THESE EXPANDED PROGRAMS ALLOW THE COLLEGE TO PREPARE MORE STUDENTS FOR THE REGION'S HIGH-DEMAND HEALTHCARE CAREERS.
DURING THE YEAR THE FOUNDATION AWARDED APPROXIMATELY $272,000 OF SCHOLARSHIPS THROUGH A COMPETITIVE APPLICATION PROCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rachel Biundo Executive Director | OfficerTrustee | 40 | $0 |
Bridget H Wilson Director | Trustee | 1 | $0 |
Ricardo Torres 2nd Vice Chair | OfficerTrustee | 1 | $0 |
Jon Vancleave Treasurer | OfficerTrustee | 1 | $0 |
Peter Eliades Immediate Past Chair | OfficerTrustee | 1 | $0 |
Rodney Braziel 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 | $1,770,317 |
| Noncash contributions included in lines 1a–1f | $359 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,770,317 |
| Total Program Service Revenue | $0 |
| Investment income | $220,422 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $124,338 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,115,077 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,159,195 |
| Grants and other assistance to domestic individuals. | $271,819 |
| 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 | $79,410 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36,372 |
| Fees for services: Other | $17,730 |
| Advertising and promotion | $0 |
| Office expenses | $12,492 |
| 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 | $27,390 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $14,263 |
| Total functional expenses | $1,736,500 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,173 |
| Savings and temporary cash investments | $1,097,572 |
| Pledges and grants receivable | $578,038 |
| 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 | $25,800 |
| Investments—publicly traded securities | $5,816,213 |
| Investments—other securities | $1,498,395 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $48,636 |
| Total assets | $9,097,827 |
| Accounts payable and accrued expenses | $228,888 |
| 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 | $228,888 |
| Net assets without donor restrictions | $2,227,196 |
| Net assets with donor restrictions | $6,641,743 |
| 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 | $9,097,827 |