Rowan-Cabarrus Community College Foundation Inc
- Assets
- $11.5m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Salisbury, NC
- Founding
- 07/1991
- Data as of
- 06/2024
- EIN
- 56-1731864
Organization Overview
Rowan-Cabarrus Community College Foundation Inc is located in Salisbury, NC. The organization was established in 1991. 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. Rowan-Cabarrus 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 06/2024, Rowan-Cabarrus Community College Foundation Inc generated $2.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $716.2k during the year ending 06/2024. While expenses have increased by 4.1% per year over the past 9 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE AND MANAGE FUNDS AND ENHANCE RELATIONSHIPS THAT SUPPORT THE WORK OF ROWAN-CABARRUS COMMUNITY COLLEGE
Describe the Organization's Program Activity:
THE FOUNDATION PROVIDED STUDENT ASSISTANCE, INSTITUTIONAL ENHANCEMENT, FACULTY/STAFF INCENTIVE GRANTS AND CONTINUING EDUCATION, NEW PROGRAM DEVELOPMENT AND CAPITAL PROJECTS TO ROWAN-CABARRUS COMMUNITY COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robin Moore Chair | OfficerTrustee | 0 | $0 |
Paige Crowe Vice Chair | OfficerTrustee | 0 | $0 |
Carol Spalding Secretary | OfficerTrustee | 0 | $0 |
Tara Trexler Treasurer | OfficerTrustee | 0 | $0 |
Karen Alexander Director | Trustee | 0 | $0 |
Jeanne Dixon Director | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Atlantic American Properties Inc Construction | 6/29/15 | $1,545,697 |
Ritelite Signs Inc Construction | 6/29/15 | $116,958 |
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 | $1,911,682 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,911,682 |
| Total Program Service Revenue | $0 |
| Investment income | $586,534 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,522,999 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $554,865 |
| 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 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 | $8,845 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,000 |
| Advertising and promotion | $16,932 |
| Office expenses | $1,848 |
| 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 | $7,108 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $47,446 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $716,185 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,112,242 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,467 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,000,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,812,435 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,575,168 |
| Total assets | $11,512,312 |
| Accounts payable and accrued expenses | $387,216 |
| 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 | $387,216 |
| Net assets without donor restrictions | $3,078,273 |
| Net assets with donor restrictions | $8,046,823 |
| 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 | $11,512,312 |