Trident Technical College Foundation Incorporated
- Assets
- $16.5m
- Revenue
- $2.0m
- Investments
- $11.9m
- Employees
- 0
- Location
- Charleston, SC
- Founding
- 11/1981
- Data as of
- 06/2022
- EIN
- 57-0699317
Organization Overview
Trident Technical College Foundation Incorporated is located in Charleston, SC. The organization was established in 1981. 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. Trident Technical College Foundation Incorporated 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, Trident Technical College Foundation Incorporated generated $2.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $1.9m during the year ending 06/2022. While expenses have increased by 0.9% per year over the past 7 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE TRIDENT TECHNICAL COLLEGE FOUNDATION RAISES FUNDS FOR THE COLLEGE TO SUPPORT THE REGION'S ECONOMY BY FOSTERING LOCAL BUSINESS RELATIONSHIPS AND CREATING AWARENESS OF TTC'S MISSION. ADDITIONALLY, THE FOUNDATION PROVIDES SCHOLARSHIPS TO STUDENTS, CLASSROOM EQUIPMENT AND MATERIALS TO FACULTY/STAFF AND ENCOURAGES AND PROMOTES PROFESSIONAL DEVELOPMENT TO FACULTY/STAFF THROUGH TUITION AND CREDIT COURSE ASSISTANCE. THE FOUNDATION OPERATES INDEPENDENTLY OF THE COLLEGE AS A 501 (C)(3) NON-PROFIT CORPORATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENT SCHOLARSHIPS:THE FOUNDATION MADE 415 SCHOLARSHIP AWARDS TOTALING $391,043 IN THE YEAR ENDED JUNE 30, 2022. SCHOLARSHIPS HELP OFFSET THE COST OF TUITION, FEES, BOOKS, CHILDCARE, AND TRANSPORTATION FOR ELIGIBLE STUDENTS. THE SCHOLARSHIP FUNDS, SUPPORTED BY INDIVIDUALS, BUSINESSES, AND OTHER FOUNDATIONS, ARE COMPETITIVE AND BASED ON CRITERIA ESTABLISHED BY THE DONORS AND THE FOUNDATION. AS OF JUNE 30, 2022, THE FOUNDATION ADMINISTERED A TOTAL OF 155 SCHOLARSHIP FUNDS, 39 OF WHICH ARE PERMANENTLY RESTRICTED.
TUITION ASSISTANCE/CREDIT COURSE REIMBURSEMENT PROGRAMS:THE FOUNDATION PROVIDES FINANCIAL SUPPORT, UP TO AN ANNUALLY BUDGETED AMOUNT, FOR FULL-TIME PERMANENT EMPLOYEES OF THE COLLEGE TO TAKE CREDIT OR CONTINUING EDUCATION COURSES AT THE COLLEGE OR OTHER ACCREDITED INSTITUTIONS OF HIGHER EDUCATION. ALL PROGRAMS ARE BASED ON AVAILABILITY OF FUNDS. FOR THE FISCAL YEAR ENDED JUNE 30, 2022, $85,180 WAS AWARDED AS PART OF THESE PROFESSIONAL DEVELOPMENT PROGRAMS, RESPECTIVELY. THE FOUNDATION WILL PAY FOR TUITION AND REQUIRED BOOKS FOR ONE COURSE PER SEMESTER FOR ANY COLLEGE COURSE FOR WHICH AN EMPLOYEE IS QUALIFIED AND UP TO $500 PER FISCAL YEAR FOR ANY COLLEGE CONTINUING EDUCATION COURSE FOR WHICH AN EMPLOYEE IS QUALIFIED. CREDIT COURSE ASSISTANCE WILL REIMBURSE FULL-TIME PERMANENT EMPLOYEES $200 PER COURSE (BASED ON SUCCESSFUL COMPLETION AND GRADE OF A OR B) AT AN OUTSIDE INSTITUTION FOR TUITION, BOOKS, AND FEES. AN EMPLOYEE MAY RECEIVE UP TO $1,000 DURING A SINGLE FISCAL YEAR FOR REIMBURSEMENT OF A MAXIMUM OF FIVE COURSES. ALL PROGRAMS REQUIRE SUPERVISOR AND VICE PRESIDENT APPROVAL.
MINI-GRANTS:THE MINI-GRANT PROGRAM PROVIDES FUNDS TO FACULTY AND STAFF FOR EQUIPMENT, MATERIALS AND SPECIAL RESOURCES TO ENHANCE STUDENT SUCCESS. PRIORITY IS GIVEN TO REQUESTS THAT DIRECTLY IMPACT STUDENT LEARNING. THE PROGRAM IS DESIGNED TO ENHANCE THE LEARNING EXPERIENCE OF COLLEGE STUDENTS WHILE BRIDGING THE GAP BETWEEN INSTRUCTIONAL NEEDS AND DEPARTMENTAL BUDGET CONSTRAINTS. THE FOUNDATION BOARD DETERMINES THE ANNUAL ALLOCATION FOR MINI-GRANT AWARDS. INDIVIDUAL AWARDS CANNOT EXCEED $1,600 AND ARE AWARDED BASED ON A COMPETITIVE APPLICATION PROCESS. SOURCES OF FINANCIAL SUPPORT FOR THE MINI-GRANT PROGRAM INCLUDE THE FOUNDATION'S ANNUAL CAMPAIGN, TRUSTEE CAMPAIGN, EMPLOYEE CAMPAIGN AND INVESTMENT RETURNS. FOR THE FISCAL YEAR ENDED JUNE 30, 2022, THERE WERE NO MINI-GRANTS AWARDED.
OTHER PROGRAM EXPENSES INCLUDE:1) RESTRICTED GRANTS - GIFTS RECEIVED FROM OTHER FOUNDATIONS AND CORPORATIONS TO BE USED WITHIN A DEFINED TIME PERIOD FOR SPECIFIC PURPOSES WHICH INCLUDE EQUIPMENT, CURRICULUM DEVELOPMENT OR SHORT-TERM WORKFORCE TRAINING. 2) STUDENT URGENT NEEDS FUND - TO ASSIST STUDENTS IN GOOD STANDING WHO EXPERIENCE AN UNFORESEEN FINANCIAL EMERGENCY WHICH WOULD OTHERWISE PREVENT THEM FROM CONTINUING TO ATTEND THE COLLEGE. 3) UNRESTRICTED FUNDS - THE FOUNDATION HOLDS FUNDS THAT SUPPORT A VARIETY OF ACADEMIC PROGRAMS AND SPECIAL PROJECTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Piccolo Executive Director | Officer | 40 | $12,000 |
Deb Campeau Development/friendraising Committee Chair | OfficerTrustee | 4 | $0 |
Chris B Fraser Chair | OfficerTrustee | 4 | $0 |
Robert M Baldwin Investment Committee Chair | OfficerTrustee | 4 | $0 |
Giampiero Diminich Governance Committee Chair | OfficerTrustee | 4 | $0 |
Dawn H Robinson Finance/audit Committee Chair | OfficerTrustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Worldwide Equipment Cdl Program Equipment | 6/29/22 | $606,919 |
Mary Thornley Services Rendered In Support Of The Foun | 6/29/22 | $122,694 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $141,675 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,208,917 |
| Noncash contributions included in lines 1a–1f | $205 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,350,592 |
| Total Program Service Revenue | $0 |
| Investment income | $413,414 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $259,678 |
| Net Income from Fundraising Events | -$11,437 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,012,247 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,397,439 |
| 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 | $0 |
| Fees for services: Lobbying | $12,001 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $52,413 |
| Fees for services: Other | $222,763 |
| 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 | $39,331 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,951 |
| All other expenses | $0 |
| Total functional expenses | $1,948,893 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $351,264 |
| Savings and temporary cash investments | $392,082 |
| Pledges and grants receivable | $3,775,257 |
| 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 | $33,090 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $11,898,314 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,450,007 |
| Accounts payable and accrued expenses | $134,334 |
| Grants payable | $0 |
| Deferred revenue | $155,350 |
| 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 | $289,684 |
| Net assets without donor restrictions | $3,362,945 |
| Net assets with donor restrictions | $12,797,378 |
| 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 | $16,450,007 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Trident Technical College Foundation Incorporated has recieved totaling $82,000.
| Awarding Organization | Amount |
|---|---|
Pathfinder Foundation Inc Wilmington, DE PURPOSE: SCHOLARSHIP FUND | $30,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $18,000 |
Pathfinder Foundation Inc Wilmington, DE PURPOSE: STUDENT URGENT NEEDS FUND | $15,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $12,000 |
Mark Elliott Motley Foundation Inc Charleston, SC PURPOSE: YOUNG ADULT EDUCATION PROGRAMS | $7,000 |
Endowment Analysis
| Beg. Balance | $5,557,112 |
| Earnings | -$610,291 |
| Net Contributions | $190,130 |
| Other Expense | $143,981 |
| Ending Balance | $4,992,970 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Lord Foundation Of North Carolina Durham, NC | $23,094,681 | $641,441 |
University Of North Carolina At Greensboro Investment Fund Inc Greensboro, NC | $369,290,686 | $22,759,163 |
Building Equity Sooner For Tomarrow Greenville, SC | $493,697,004 | $17,744,355 |
Appalachian State University Foundation Inc Boone, NC | $159,413,962 | $18,404,104 |
University Of North Carolina Chapel Hill Arts And Sciences Foundation Chapel Hill, NC | $518,992,807 | $33,231,064 |
Georgia Tech Facilities Inc Atlanta, GA | $407,064,936 | $14,504,049 |
The Foundation Of The University Of North Carolina At Charlotte Inc Charlotte, NC | $296,107,277 | $34,157,132 |
College Of Charleston Foundation Charleston, SC | $165,475,152 | $11,402,265 |
Medical College Of Georgia Foundation Inc Augusta, GA | $352,081,028 | $12,607,438 |
East Carolina University Foundation Inc Greenville, NC | $186,990,398 | $28,752,906 |
Crossnore School Childrens Foundation Crossnore, NC | $37,541,780 | $0 |
James B Hunt Jr Institute For Educational Leadership And Policy Cary, NC | $11,369,627 | $8,988,543 |