American College Of Bankruptcy
- Assets
- $1.3m
- Revenue
- $473.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Stanardsville, VA
- Founding
- 06/1999
- Data as of
- 12/2022
- EIN
- 52-1759771
Organization Overview
American College Of Bankruptcy is located in Stanardsville, VA. The organization was established in 1999. According to its NTEE Classification (B90) the organization is classified as: Educational Services, 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. American College Of Bankruptcy is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, American College Of Bankruptcy generated $473.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.1%) each year. All expenses for the organization totaled $922.2k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, American College Of Bankruptcy has awarded 14 individual grants totaling $1,663,500. 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 ENHANCE PUBLIC RESPECT FOR AND PROFESSIONALISM IN THE INSOLVENCY AND BANKRUPTCY PRACTICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONFERENCES - THE COLLEGE HAS 2 MAIN CONFERENCES EACH YEAR TO PROVIDE EDUCATIONAL SEMINARS AND NETWORKING OPPORTUNITIES TO ITS FELLOWS.
OUTREACH AND SUPPORT - THE COLLEGE, ALONG WITH THE FOUNDATION, IS ONE OF THE LARGEST FINANCIAL SUPPORTERS OF BANKRUPTCY AND INSOLVENCY-RELATED PRO BONO LEGAL SERVICES PROGRAMS IN THE UNITED STATES THROUGH GRANTS DEDICATED TO PROVIDING SUPPORT AND GUIDANCE TO THOSE CONSIDERING OR SEEING BANKRUPTCY. GRANTS ARE MADE TO LEGAL AID SERVICES THROUGHOUT THE COUNTRY FOR THE EXPRESS PURPOSE OF HELPING CONSUMERS WHO COULD NOT OTHERWISE AFFORD BANKRUPTCY AND INSOLVENCY ADVICE OR SERVICES. GRANT REQUESTS GO THROUGH A VERY RIGOROUS VETTING PROCESS TO ENSURE THAT ONLY QUALIFIED NON-PROFIT, CHARITABLE ORGANIZATIONS RECEIVE GRANTS.
COMMITTEE PROJECTS - THE COLLEGE HAS SEVERAL COMMITTEES THAT PROVIDE OPPORTUNITIES TO THE FELLOWS AND OTHERS IN THE INSOLVENCY FIELD INCLUDING EDUCATIONAL PROGRAMS, PRIMARY SUPPORT FOR THE NATIONAL BANKRUPTCY ARCHIVES AND VARIOUS PUBLICATIONS, AND SUPPORT FOR RESEARCH AND ANALYSIS ON DOMESTIC AND INTERNATIONAL INSOLVENCY ISSUES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark D Bloom Chair, Then Past Chair As Of March | OfficerTrustee | 5 | $0 |
Melissa S Kibler President, Then Chair As Of March | OfficerTrustee | 5 | $0 |
Charles A Beckham Jr Director, Then President As Of March | OfficerTrustee | 1 | $0 |
James L Baillie Vice-President Until March | OfficerTrustee | 1 | $0 |
Michael St Patrick Baxter Vice-President Until March | OfficerTrustee | 1 | $0 |
Karen A Giannelli Vice-President | 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 | $6,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,500 |
| Total Program Service Revenue | $446,543 |
| Investment income | $16,918 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $708 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,416 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $473,185 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $244,100 |
| Grants and other assistance to domestic individuals. | $21,670 |
| 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 | $100,200 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,618 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $706 |
| Fees for services: Other | $90,888 |
| Advertising and promotion | $616 |
| Office expenses | $38,753 |
| Information technology | $30,039 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $49,774 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $241,914 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,367 |
| All other expenses | $2,814 |
| Total functional expenses | $922,230 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $165,239 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $750 |
| 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 | $90,024 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,033,656 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,289,669 |
| Accounts payable and accrued expenses | $880 |
| Grants payable | $0 |
| Deferred revenue | $401,459 |
| 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 | $402,339 |
| Net assets without donor restrictions | $887,330 |
| Net assets with donor restrictions | $0 |
| 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 | $1,289,669 |
Grants Awarded
Over the last fiscal year, American College Of Bankruptcy has awarded $244,100 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NATIONAL CONFERENCE OF BANKRUPTCY JUDGES PURPOSE: NCBJ NEXT GENERATION SPONSORSHIP | $8,500 |
AMERICAN COLLEGE OF BANKRUPTCY FOUNDATION PURPOSE: PRO BONO REGRANTS | $235,600 |