Martin Community College Foundation Inc
- Assets
- $469.3k
- Revenue
- $63.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Williamston, NC
- Founding
- 11/1985
- Data as of
- 06/2021
- EIN
- 56-1998485
Organization Overview
Martin Community College Foundation Inc is located in Williamston, NC. The organization was established in 1985. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, 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. Martin 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 06/2021, Martin Community College Foundation Inc generated $63.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.1%) each year. All expenses for the organization totaled $91.7k during the year ending 06/2021. 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
SUPPORT MARTIN COMMUNITY COLLEGE
Describe the Organization's Program Activity:
Part 3 - Line 4a
VARIOUS SCHOLARSHIPS WERE GIVEN TO HIGH SCHOOL STUDENTS. VARIOUS EQUIPMENT AND 42 HORSES WERE AVAILABLE FOR USE BY MARTIN COMMUNITY COLLEGE'S EQUINE PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Delmas Cumbee Treasurer | OfficerTrustee | 2 | $0 |
Charlotte Griffin President | Officer | 2 | $0 |
Josh Roberson Vice President | Officer | 2 | $0 |
Ken Ambrose Treasurer | Officer | 2 | $0 |
Jackie Gillam Secretary | Officer | 2 | $0 |
Richard James Director | Trustee | 2 | $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 | $46,186 |
| Noncash contributions included in lines 1a–1f | $9,499 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $46,186 |
| Total Program Service Revenue | $0 |
| Investment income | $766 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $16,962 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $63,914 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $7,478 |
| 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 | $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 | $130 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $48,127 |
| Insurance | $1,506 |
| All other expenses | $483 |
| Total functional expenses | $91,689 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $106,818 |
| Savings and temporary cash investments | $217,526 |
| Pledges and grants receivable | $0 |
| 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 | $1,550 |
| Net Land, buildings, and equipment | $143,366 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $469,260 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $256,426 |
| Net assets with donor restrictions | $212,834 |
| 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 | $469,260 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Martin Community College Foundation Inc has recieved totaling $119,000.
| Awarding Organization | Amount |
|---|---|
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $114,000 |
Francis M Barnes Charitable Tr Williamston, NC PURPOSE: PROFESSIONAL DEVELOPMENT OF INSTRUCTORS AT MARTIN COMMUNITY COLLEGE | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pellissippi State Community College Foundation Knoxville, TN | $20,765,427 | $1,042,268 |
Clinton College Rock Hill, SC | $6,214,571 | $5,235,874 |
Wilkes Community College Foundation Inc Wilkesboro, NC | $12,311,546 | $8,211,087 |
Wake Technical Community College Foundation Inc Raleigh, NC | $24,851,874 | $5,743,743 |
Walters State Community College Foundation Morristown, TN | $27,157,062 | $3,646,836 |
Abraham Baldwin Agricultural College Foundation Inc Tifton, GA | $42,241,656 | $6,873,276 |
Virginia Western Community College Educational Founation Inc Roanoke, VA | $30,928,944 | $10,106,195 |
Aquinas College Nashville, TN | $18,354,777 | $2,556,785 |
Piedmont Virginia Community College Educational Foundation Charlottesville, VA | $30,849,445 | $4,502,889 |
John A Gupton College Nashville, TN | $6,054,249 | $2,115,148 |
Roane State Community College Foundation Harriman, TN | $19,542,294 | $4,932,388 |
Blue Ridge Community College Education Foundation Inc Flat Rock, NC | $18,307,552 | $2,874,613 |