John Tyler Community College Foundation Inc
- Assets
- $8.3m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Chester, VA
- Founding
- 12/1985
- Data as of
- 06/2021
- EIN
- 52-1389646
Organization Overview
John Tyler Community College Foundation Inc is located in Chester, 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. John Tyler Community 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 06/2021, John Tyler Community College Foundation Inc generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 23.7% each year . All expenses for the organization totaled $936.1k during the year ending 06/2021. While expenses have increased by 1.6% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE JOHN TYLER COMMUNITY COLLEGE FOUNDATION ACQUIRES VITAL RESOURCES WHICH 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 INITIATIVES SUCH AS STUDENT SCHOLARSHIPS, A GRANT PROGRAM TO SUPPORT STAFF AND FACULTY INNOVATION AND DEVELOPMENT, AND TO SUPPORT ACADEMIC AND STUDENT PROGRAMS AT THE COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE FISCAL YEAR, JTCC FOUNDATION PROVIDED MORE THAN $700,000 IN SUPPORT TO THE COLLEGE AND STUDENTS, INCLUDING APPROXIMATELY $375,000 IN SCHOLARSHIPS AND GRANTS AND MORE THAN $300,000 IN SUPPORT FOR ACADEMIC PROGRAMS, FACULTY, EQUIPMENT, STUDENT EMERGENCY AID, AND OTHER STUDENT SUPPORT PROGRAMS. DURING THE LATTER PART OF THE FISCAL YEAR, THE FOUNDATION APPEALED TO THE COMMUNITY FOR COVID-RELATED EMERGENCY FUNDS FOR STUDENTS, RAISING APPROXIMATELY $8,000 IN ADDITIONAL EMERGENCY FUNDS. ALSO, THE FOUNDATION PROVIDED FUNDING TO SUPPORT THE DEVELOPMENT OF A NEW COLLEGE WEB SITE. IN JANUARY, THE FOUNDATION COMPLETED A MAJOR GIFTS CAMPAIGN DESIGNED TO INCREASE PRIVATE PHILANTHROPIC SUPPORT TO BENEFIT THE COLLEGE AND ITS STUDENTS.
DURING THE YEAR THE FOUNDATION AWARDED APPROXIMATELY $375,000 SCHOLARSHIPS AND GRANTS THROUGH A COMPETITIVE APPLICATION PROCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Catherine Foca Immediate Past President | OfficerTrustee | 1 | $0 |
Rachel Biundo Director | OfficerTrustee | 40 | $0 |
Ricardo Torres 2nd Vice President | OfficerTrustee | 1 | $0 |
Peter Eliades President | OfficerTrustee | 1 | $0 |
Edward Raspiller Secretary | OfficerTrustee | 7 | $0 |
Jon Vancleave Treasurer | OfficerTrustee | 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 | $570,018 |
| Noncash contributions included in lines 1a–1f | $22,788 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $570,018 |
| Total Program Service Revenue | $0 |
| Investment income | $131,826 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,057,069 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,758,913 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $273,235 |
| Grants and other assistance to domestic individuals. | $373,121 |
| 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 | $69,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $37,375 |
| Fees for services: Other | $26,488 |
| Advertising and promotion | $0 |
| Office expenses | $2,329 |
| 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 | $646 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $5,648 |
| Total functional expenses | $936,117 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,601 |
| Savings and temporary cash investments | $319,101 |
| Pledges and grants receivable | $196,740 |
| 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 | $7,764,527 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,341,769 |
| Accounts payable and accrued expenses | $75,568 |
| 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 | $2,373 |
| Total liabilities | $77,941 |
| Net assets without donor restrictions | $2,495,805 |
| Net assets with donor restrictions | $5,768,023 |
| 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 | $8,341,769 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that John Tyler Community College Foundation Inc has recieved totaling $64,809.
| Awarding Organization | Amount |
|---|---|
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $46,809 |
The Community Foundation Inc Richmond, VA PURPOSE: GENERAL PURPOSES | $18,000 |
Endowment Analysis
| Beg. Balance | $3,850,218 |
| Earnings | $899,241 |
| Net Contributions | $62,575 |
| Other Expense | $94,282 |
| Ending Balance | $4,717,752 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
William Peace University Raleigh, NC | $89,474,772 | $34,889,332 |
Midway University Inc Midway, KY | $66,224,424 | $32,615,868 |
Southern Virginia University Buena Vista, VA | $37,155,964 | $26,776,085 |
Martin Methodist College Pulaski, TN | $36,451,504 | $26,683,667 |
Louisburg College Louisburg, NC | $47,886,546 | $23,005,525 |
Saint Marys School Raleigh, NC | $74,590,364 | $23,129,284 |
Montgomery College Foundation Inc Rockville, MD | $114,232,820 | $9,502,498 |
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 |
Howard Community College Educational Foundation Inc Columbia, MD | $15,584,506 | $3,702,279 |
Allegany Community College Foundation Inc Cumberland, MD | $23,769,965 | $2,588,071 |
Wake Technical Community College Foundation Inc Raleigh, NC | $24,851,874 | $5,743,743 |