South Carolina Technical College System Foundation
- Assets
- $615.4k
- Revenue
- $112.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Columbia, SC
- Founding
- 08/1965
- Data as of
- 06/2023
- EIN
- 57-0468430
Organization Overview
South Carolina Technical College System Foundation, operating under the name Sys, is located in Columbia, SC. The organization was established in 1965. According to its NTEE Classification (B30) the organization is classified as: Vocational & Technical Schools, 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. Sys 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 06/2023, Sys generated $112.7k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $179.3k during the year ending 06/2023. While expenses have increased by 8.2% per year over the past 8 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.
Since 2019, Sys has awarded 30 individual grants totaling $1,423,789. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION RESOURCES, DEVELOPS, AND INCUBATES SOLUTIONS TO STRENGTHEN THE STATE'S WORKFORCE THROUGH A VARIETY OF ACTIVITIES. IT ENGAGES WITH THE SYSTEM AND ITS INDIVIDUAL TECHNICAL COLLEGES STATEWIDE TO DEVELOP ACCESSIBLE, AFFORDABLE PROGRAMMING TO SERVE URBAN, SUBURBAN, AND RURAL COMMUNITIES ACROSS SOUTH CAROLINA; CONNECT EMPLOYERS TO TESTED, INNOVATIVE TALENT DEVELOPMENT APPROACHES TO FILLING IN-DEMAND, HIGH-SKILLED JOBS IN A DYNAMIC ECONOMY; AND ACHIEVE OUTCOMES THE SYSTEM MAY NOT OTHERWISE ACCOMPLISH ON ITS OWN. THE FOUNDATION IDENTIFIES OPPORTUNITIES TO EQUIP SOUTH CAROLINA WORKERS WITH THE TOOLS TO BE SKILLED LEADERS OF NEW AND EXISTING INDUSTRIES AND EXPAND SOUTH CAROLINA'S EMPLOYMENT ECOSYSTEM. THE FOUNDATION HARNESSES PRIVATE RESOURCES TO BOLSTER THE ASSETS OF THE STATE'S LARGEST HIGHER EDUCATION SYSTEM AND DRIVES INNOVATION TO SUPPORT THE WORKFORCE OF TODAY AND TOMORROW.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREATE OPPORTUNITY IS AN INITIATIVE OF THE FOUNDATION THAT INCREASES THE SUPPLY OF HIGH-DEMAND SOFTWARE ENGINEERS THROUGH A SCREENING, TRAINING AND APPRENTICESHIP MODEL DESIGNED FOR INDIVIDUALS FROM DIVERSE, NON-TECHNICAL BACKGROUNDS. CREATE OPPORTUNITY WAS LAUNCHED IN 2020 AND ADOPTED BY THE SC TECHNICAL COLLEGE SYSTEM FOUNDATION IN 2023. SINCE ITS INCEPTION IT HAS GRADUATED 32 INDIVIDUALS WHO HAVE SECURED HIGH-DEMAND PROGRAM DEVELOPMENT POSITIONS ENABLING THEM TO SECURE WELL-PAID POSITIONS WITH OPPORTUNITY FOR WAGE AND RESPONSIBILITY GROWTH.
SALARY SUPPLEMENT FOR THE SYSTEM PRESIDENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Warren Darby Jr Board Member | Trustee | 2 | $0 |
William Floyd Board Member | Trustee | 2 | $0 |
Anthony Barker Board Member | Trustee | 2 | $0 |
Edward Grantland Burns Board Member | Trustee | 2 | $0 |
Ralph Odom Jr Board Member | Trustee | 2 | $0 |
Gregory Askins Board Chairm | 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 | $100,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $100,000 |
| Total Program Service Revenue | $0 |
| Investment income | $19,510 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$7,278 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $112,732 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $50,000 |
| Grants and other assistance to domestic individuals. | $17,564 |
| 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 | $56,030 |
| Fees for services: Legal | $3,388 |
| Fees for services: Accounting | $7,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,013 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $8,218 |
| 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 | $30,199 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $797 |
| All other expenses | $75 |
| Total functional expenses | $179,284 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $80,297 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $50,000 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $485,076 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $615,373 |
| 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 | $452,914 |
| Net assets with donor restrictions | $162,459 |
| 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 | $615,373 |
Grants Awarded
Over the last fiscal year, South Carolina Technical College System Foundation has awarded $176,125 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
NORTHEASTERN TECH COLLEGENORTHEASTERN TECH COLLEGE PURPOSE: HERITAGE | $15,000 |
SC TECHNICAL COLLEGE SYSTEMSC TECHNICAL COLLEGE SYSTEM PURPOSE: HERITAGE CLASSIC | $50,000 |
SC TECHNICAL COLLEGE SYSTEMSC TECHNICAL COLLEGE SYSTEM PURPOSE: HERITAGE CAD LICENSE | $111,125 |