Virginia Intermont College
- Assets
- $962.3k
- Revenue
- -$7.1m
- Investments
- $457.6k
- Employees
- 5
- Location
- Bristol, VA
- Founding
- 06/1942
- Data as of
- 06/2017
- EIN
- 54-0505972
Organization Overview
Virginia Intermont College is located in Bristol, VA. The organization was established in 1942. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2017, Virginia Intermont College employed 5 individuals. Virginia Intermont College is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2017
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE STUDENT INSTRUCTION, SCHOLARSHIPS AND SUPPORT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENT INSTRUCTION & SCHOLARSHIPS - VIRGINIA INTERMONT GRADUATED ITS FINAL CLASS IN MAY OF 2014 AND IS IN THE PROCESS OF WINDING DOWN OPERATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Morgan Sr VP Of Administration | Officer | 10 | $17,316 |
Anthony F Troy Vice Chair | OfficerTrustee | 0 | $0 |
Elliott Moore Secretary | OfficerTrustee | 0 | $0 |
Kathleen W O'brien Chair | OfficerTrustee | 0 | $0 |
Susan Stuart Treasurer | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $112,583 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $25,094 |
| Net Gain/Loss on Asset Sales | -$7,263,100 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$7,123,375 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $47,564 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $25,908 |
| Fees for services: Management | $60,250 |
| Fees for services: Legal | $27,866 |
| Fees for services: Accounting | $0 |
| 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 | $689 |
| Royalties | $0 |
| Occupancy | $49 |
| Travel | $12,000 |
| 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 | $39,328 |
| All other expenses | $0 |
| Total functional expenses | $249,772 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $57,643 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $155,744 |
| 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 | $5,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $457,605 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $286,329 |
| Total assets | $962,321 |
| Accounts payable and accrued expenses | $3,285,923 |
| 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 | $1,264,718 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,009,305 |
| Total liabilities | $5,559,946 |
| Net assets without donor restrictions | -$9,126,290 |
| Net assets with donor restrictions | $466,891 |
| Capital stock or trust principal, or current funds | $4,061,774 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | -$4,597,625 |
Endowment Analysis
| Beg. Balance | $460,654 |
| Other Expense | $3,019 |
| Ending Balance | $457,605 |
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