Access College Foundation

Organization Overview

Access College Foundation is located in Norfolk, VA. The organization was established in 1988. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2022, Access College Foundation employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Access 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 06/2022, Access College Foundation generated $4.0m 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 (6.0%) each year. All expenses for the organization totaled $4.6m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE ACCESS COLLEGE FOUNDATION HELPS STUDENTS IN THE PUBLIC HIGH SCHOOLS OF S.HAMPTON ROADS, N. HAMPTON CO. AND WESTERN TIDEWATER GO TO COLLEGE OR OTHER POSTSECONDARY TRAINING.

Describe the Organization's Program Activity:

HIGH SCHOOL PROGRAM AND COLLEGE SUCCESS PROGRAM: THE FOUNDATION PROVIDED POSTSECONDARY EDUCATION PLANNING TO MORE THAN 3,944 HIGH SCHOOL JUNIORS, SENIORS AND COLLEGE STUDENTS DURING 2021 AND 3,728 IN 2020. THE NUMBER OF STUDENTS IN 2021 AND 2020 IS LOWER THAN PREVIOUS YEARS DUE TO PARTIAL/FULL SCHOOL CLOSURES STEMMING FROM COVID-19 RESTRICTIONS. OF THOSE STUDENTS SERVED IN 2021, 2,879 FAMILIES (73%), WERE VERIFIED TO BE LOW-INCOME AND IN 2020, 2,761 (70%) WERE VERIFIED TO BE LOW-INCOME. POST-SECONDARY EDUCATION PLANNING INCLUDES SCHOOL-BASED AND VIRTUAL ADVISORY SERVICES FOR: COLLEGE AND POSTSECONDARY TRAINING PREPARATION AND SUCCESS; COLLEGE APPLICATION/ TESTING FEE PAYMENTS; GUIDANCE THROUGH THE ADMISSIONS PROCESS; COLLEGE TOURS TO PROSPECTIVE CAMPUSES; AND THE LEVERAGING OF FINANCIAL AID, SCHOLARSHIPS, AND GRANTS NEEDED TO ATTEND COLLEGE OR OTHER POSTSECONDARY TRAINING. EACH HIGH SCHOOL JUNIOR AND SENIOR COMPLETES A "FEE WAIVER APPLICATION" AT THE BEGINNING OF THE SCHOOL YEAR FOR OUR USE IN DETERMINING THEIR LEVEL OF POVERTY, BASED ON FEDERAL GUIDELINES, TO RECEIVE FEE WAIVERS AND FEE PAYMENTS MADE BY ACCESS ON THEIR BEHALF. WHEN FINANCIAL AID FORMS (FAFSAS) ARE FILED FOR THE SENIORS AND OUR COLLEGE STUDENTS, THE FAMILY SIZE AND INCOME INFORMATION IS CAPTURED AND UPDATED THROUGH ACTUAL TAX RETURNS. THIS INFORMATION WAS USED TO VERIFY THAT 73% OF THE STUDENTS IN 2021 AND 70% OF THE STUDENTS IN 2020 BELONGED TO A FAMILY WHOSE ANNUAL HOUSEHOLD INCOME WAS NOT IN EXCESS OF 300% OF THE FEDERAL POVERTY GUIDELINES. EARLY COLLEGE AWARENESS: WITH OUR FOUNDATION'S PRIMARY TARGET BEING STUDENTS FROM LOW-INCOME FAMILIES WHO MAY NOT OTHERWISE HAVE ACCESS, WE BEGIN LAYING THE GROUNDWORK OF EARLY COLLEGE AWARENESS/READINESS ACTIVITIES TO MIDDLE SCHOOL STUDENTS IN THE 7TH AND 8TH GRADES AND THEN FOLLOW THEM INTO HIGH SCHOOL IN THE 9TH AND 10TH GRADES. MUCH OF THIS WORK IS DONE IN GROUP SETTINGS AND STUDENTS IN THESE GRADE LEVELS DO NOT DISCLOSE THEIR FAMILY'S FINANCIAL INFORMATION IN ORDER TO RECEIVE SERVICES. WE DO KNOW THAT THE SCHOOLS THESE STUDENTS ATTEND HAVE A MAJORITY POPULATION RECEIVING FREE- OR REDUCED- LUNCH. ADDITIONALLY, WHILE OUR MISSION IS TO SERVE LOW-INCOME STUDENTS, WE KNOW THAT IN THE PROCESS OF PROVIDING POSTSECONDARY EDUCATION PLANNING TO THESE LOW-INCOME STUDENTS, OTHER STUDENTS MAY RECEIVE INFORMATION OR BENEFIT FROM ACTIVITIES PROVIDED IN GROUP SETTINGS.


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Board, Officers & Key Employees

Name (title)Compensation
Bonnie B Sutton
President And CEO
$239,579
Amanda Gift
Chair
$0
John Stein
Secretary
$0
David Mele
Chair Emeritus
$0
Owen Griffin
Treasurer
$0
Kristal Audain
Director
$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$2,841,201
Noncash contributions included in lines 1a–1f $291,968
Total Revenue from Contributions, Gifts, Grants & Similar$2,841,201
Total Program Service Revenue$0
Investment income $1,234,335
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$35,925
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $4,039,611

Grants Recieved

Over the last fiscal year, we have identified 14 grants that Access College Foundation has recieved totaling $274,574.

Awarding OrganizationAmount
United Way Of South Hampton Roads

Norfolk, VA

PURPOSE: GRANTS AWARDED

$51,027
Hampton Roads Community Foundation

Norfolk, VA

PURPOSE: FOR GENERAL SUPPORT

$50,000
Hampton Roads Community Foundation

Norfolk, VA

PURPOSE: 2021 DISTRIBUTION FOR "LAST DOLLAR" AWARDS TO STUDENTS FROM VIRGINIA BEACH PUBLIC HIGH SCHOOLS

$37,320
Truist Foundation Inc

Orlando, FL

PURPOSE: GENERAL OPERATING

$25,000
Richard Bennett Trust

Suffolk, VA

PURPOSE: TO PROVIDE SCHOLARSHIPS TO DESERVING STUDENTS IN THE AREA.

$25,000
Schwab Charitable Fund

San Francisco, CA

PURPOSE: EDUCATION

$16,300
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$65,307,002
Earnings-$4,492,765
Net Contributions$945,904
Other Expense$2,341,266
Ending Balance$59,418,875

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