Piedmont Technical College Foundation Inc
- Assets
- $10.2m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Greenwood, SC
- Founding
- 12/1975
- Data as of
- 06/2022
- EIN
- 57-0622550
Organization Overview
Piedmont Technical College Foundation Inc is located in Greenwood, SC. The organization was established in 1975. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Piedmont Technical 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 06/2022, Piedmont Technical College Foundation Inc generated $1.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.0% each year. All expenses for the organization totaled $982.8k during the year ending 06/2022. While expenses have increased by 1.4% 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PIEDMONT TECHNICAL COLLEGE FOUNDATION IS A 501(C)(3) NON-PROFIT CORPORATION THAT PROVIDES FINANCIAL SUPPORT TO THE COLLEGE BEYOND THAT WHICH IS OBTAINED FROM TRADITIONAL FUNDING SOURCES. THE FOUNDATION ATTRACTS SUPPORT FROM ALUMNI AND FRIENDS, BUSINESS AND INDUSTRY, AND GRANT-MAKING ORGANIZATIONS. IT ALSO RAISES MONEY THROUGH ANNUAL GIVING PLANS, GIFT CAMPAIGNS, AND SPECIAL EVENTS. THE FOUNDATION ALSO FILLS AN ADVOCACY ROLE BY COMMUNICATING THE NEEDS OF THE COLLEGE AND ITS STUDENTS TO SUPPORTERS IN THE COMMUNITY AND TO PUBLIC OFFICIALS AT THE LOCAL, STATE, AND NATIONAL LEVELS.
Describe the Organization's Program Activity:
THE FOUNDATION'S PRIMARY PURPOSE IS SOLICITING CONTRIBUTIONS TO SUPPORT THE STUDENTS, PROGRAMS, AND ACTIVITIES OF THE COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Miriam B Adams Board Member | Trustee | 0.15 | $0 |
Diane Anderson Board Member | Trustee | 0.15 | $0 |
Mamie Banks Board Member | Trustee | 0.19 | $0 |
Justin Benfield Board Member | Trustee | 0.21 | $0 |
Christopher Brown Board Member | Trustee | 0.08 | $0 |
Rocky Dunkman Board Member | Trustee | 0.15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $454,565 |
| Investment income | $160,930 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $331,546 |
| Net Gain/Loss on Asset Sales | $388,098 |
| Net Income from Fundraising Events | $31,710 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,367,115 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $16,364 |
| 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 | $18,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $44,998 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,135 |
| Office expenses | $270 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $77,850 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,652 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $76,526 |
| Insurance | $12,041 |
| All other expenses | $0 |
| Total functional expenses | $982,790 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $256,721 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $31,891 |
| Accounts receivable, net | $4,090 |
| 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 |
| Investments—publicly traded securities | $6,800,887 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $471,356 |
| Total assets | $10,236,347 |
| Accounts payable and accrued expenses | $38,828 |
| Grants payable | $0 |
| Deferred revenue | $1,000 |
| 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 | $754 |
| Total liabilities | $40,582 |
| Net assets without donor restrictions | $7,606,322 |
| Net assets with donor restrictions | $2,589,443 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $10,195,765 |
Grants Awarded
Over the last fiscal year, Piedmont Technical College Foundation Inc has awarded $556,892 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PIEDMONT TECHNICAL COLLEGE PURPOSE: THE FOUNDATION PAID APPROXIMATELY $225,000 TO THE COLLEGE FOR RESTRICTED SCHOLARSHIPS. THE FOUNDATION PAID APPROXIMATELY $284,000 FOR VARIOUS OTHER APPROVED SCHOLARSHIPS, GRANTS, AND PROGRAMS RELATED TO ACADEMICS AND ADMINISTRATION. | $536,892 |
THE GREENWOOD PROMISE PURPOSE: THE FOUNDATION PAID $20,000 TO THE ORGANIZATION TO ASSIST WITH SUPPORTING THE EDUCATIONAL PROCESS FOR THE COMMUNITY. | $20,000 |