Germanna Community College Educational Foundation Inc
- Assets
- $13.2m
- Revenue
- $50.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Locust Grove, VA
- Founding
- 04/1987
- Data as of
- 12/2021
- EIN
- 54-1379348
Organization Overview
Germanna Community College Educational Foundation Inc is located in Locust Grove, VA. The organization was established in 1987. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. Germanna Community College Educational 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 12/2021, Germanna Community College Educational Foundation Inc generated $50.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (40.9%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. 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 GERMANNA COMMUNITY COLLEGE EDUCATION FOUNDATION, INC. WAS ESTABLISHED TO FOSTER AND PROMOTE THE GROWTH, PROGRESS AND WELL-BEING OF THE COLLEGE AND ITS STUDENTS OUR PURPOSE IS TO RAISE FUNDS TO SUPPORT THE MISSION OF THE COLLEGE A CONTINUING PRIORITY IS TO ENSURE THAT ALL STUDENTS, INCLUDING THOSE WITH FINANCIAL NEED HAVE AN OPPORTUNITY TO RECEIVE AN EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENT SCHOLARSHIP AWARDED BASED ON NEED AND MERIT.
CONTRIBUTIONS TO AND FOR VARIOUS PROGRAMS OF GERMANNA COMMUNITY COLLEGE FOR THE ADVANCEMENT OF ITS MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Todd Gillingham President | OfficerTrustee | 1 | $0 |
Wendell Anderson Treasurer | OfficerTrustee | 1 | $0 |
Dr Janet Gullickson Secretary | OfficerTrustee | 1 | $0 |
Brooke Miller Past President | OfficerTrustee | 1 | $0 |
Bruce Davis Special Assistant To The P | Officer | 14 | $0 |
Darla K Burton Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $278,616 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,467,353 |
| Noncash contributions included in lines 1a–1f | $250,452 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,745,969 |
| Total Program Service Revenue | $0 |
| Investment income | $232,380 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,941,547 |
| Net Income from Fundraising Events | $5,930 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $50,732 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $97,623 |
| Grants and other assistance to domestic individuals. | $786,184 |
| 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 | $2,194 |
| Fees for services: Accounting | $18,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $155,902 |
| Fees for services: Other | $21,042 |
| Advertising and promotion | $34,753 |
| Office expenses | $13,238 |
| Information technology | $35,597 |
| Royalties | $0 |
| Occupancy | $55,380 |
| 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 | $13,455 |
| All other expenses | $14,552 |
| Total functional expenses | $1,335,336 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $701,788 |
| Pledges and grants receivable | $150,000 |
| Accounts receivable, net | $28,287 |
| 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 | $4,500 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $12,114,530 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $224,207 |
| Total assets | $13,223,312 |
| Accounts payable and accrued expenses | $96,299 |
| 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 | $96,299 |
| Net assets without donor restrictions | $1,918,583 |
| Net assets with donor restrictions | $11,208,430 |
| 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 | $13,223,312 |
Grants Awarded
Over the last fiscal year, Germanna Community College Educational Foundation Inc has awarded $86,691 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GERMANNA COMMUNITY COLLEGE PURPOSE: TO FULFILL MISSION PURPOSE OF SUPPORT OF THE COLLEGE AND ITS STUDENTS. | $76,691 |
GERMANNA COMMUNITY COLLEGE PURPOSE: TO FULFILL MISSION PURPOSE OF SUPPORT OF THE COLLEGE AND ITS STUDENTS. | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Germanna Community College Educational Foundation Inc has recieved totaling $55,000.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $45,000 |
Uva Culpeper Medical Center Culpeper, VA PURPOSE: COMMUNITY OUTREACH | $10,000 |
Endowment Analysis
| Beg. Balance | $3,922,245 |
| Earnings | $494,693 |
| Net Contributions | $141,686 |
| Other Expense | $140,899 |
| Ending Balance | $4,417,725 |