Trident Technical College Foundation Incorporated
- Assets
- $21.5m
- Revenue
- $3.1m
- Investments
- $16.7m
- Employees
- 0
- Location
- Charleston, SC
- Founding
- 11/1981
- Data as of
- 06/2024
- 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 06/2024, Trident Technical College Foundation Incorporated generated $3.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $1.4m during the year ending 06/2024. 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
2024
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 476 AND 458 SCHOLARSHIP AWARDS TOTALING $466,717 AND $412,751 IN THE YEARS ENDED JUNE 30, 2024 AND 2023, RESPECTIVELY. 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, 2024, THE FOUNDATION ADMINISTERED A TOTAL OF 152 SCHOLARSHIP FUNDS, 46 OF WHICH ARE PERMANENTLY RESTRICTED. AS OF JUNE 30, 2023, THE FOUNDATION ADMINISTERED A TOTAL OF 145 SCHOLARSHIP FUNDS, 38 OF WHICH ARE PERMANENTLY RESTRICTED.
STUDENT URGENT NEEDS FUND: THE STUDENT URGENT NEEDS FUND WAS CREATED TO ASSIST STUDENTS IN GOOD STANDING WHO EXPERIENCE AN UNFORESEEN FINANCIAL EMERGENCY WHICH WOULD OTHERWISE PREVENT THEM FROM CONTINUING TO ATTEND THE COLLEGE. STUDENTS MUST MEET ALL ELIGIBILITY REQUIREMENTS AND RECEIVE APPROVAL FROM THE SELECTION COMMITTEE. FOR THE FISCAL YEARS ENDED JUNE 30, 2024 AND 2023, $9,694 AND $15,433 WAS AWARDED IN STUDENT URGENT NEEDS FUNDING ASSISTANCE, RESPECTIVELY.AWARDS AND PRIZES: THE FOUNDATION PROVIDES A VARIETY OF AWARDS AND PRIZES DESIGNED TO CELEBRATE OUTSTANDING ACHIEVEMENTS, INNOVATION, AND LEADERSHIP AMONG COLLEGE STUDENTS, FACULTY, AND STAFF. FOR THE FISCAL YEARS ENDED JUNE 30, 2024 AND 2023, $9,300 AND $7,100 IN AWARDS AND PRIZES WERE PROVIDED FROM THE FOUNDATION, RESPECTIVELY.
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 YEARS ENDED JUNE 30, 2024 AND 2023, $14,487 AND $6,869 WERE AWARDED AS PART OF THESE PROFESSIONAL DEVELOPMENT PROGRAMS, RESPECTIVELY.
MINI-GRANTS:THE MINI-GRANT PROGRAM PROVIDES FUNDS TO FACULTY AND STAFF FOR EQUIPMENT, MATERIALS AND SPECIAL RESOURCES TO ENHANCE STUDENT SUCCESS. THE PROGRAM IS DESIGNED TO ENHANCE THE LEARNING EXPERIENCE OF COLLEGE STUDENTS WHILE BRIDGING THE GAP BETWEEN INSTRUCTIONAL NEEDS AND DEPARTMENTAL BUDGET CONSTRAINTS. INDIVIDUAL AWARDS ARE UP TO $1,600 AND ARE AWARDED BASED ON A COMPETITIVE APPLICATION PROCESS. FOR THE FISCAL YEARS ENDED JUNE 30, 2024 AND 2023, THERE WERE NO MINI-GRANTS APPLIED FOR OR AWARDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karena Bell Foundation Trustee | Trustee | 1 | $0 |
Pamela J Browning Foundation Trustee | Trustee | 1 | $0 |
Robert O Collins Foundation Trustee | Trustee | 1 | $0 |
Russell B Corbin Foundation Trustee | Trustee | 1 | $0 |
William E Craver III Foundation Trustee | Trustee | 1 | $0 |
David M Echols Foundation Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mary Thornley Services Rendered In Support Of The Foun | 6/29/22 | $122,694 |
Worldwide Equipment Cdl Program Equipment | 6/29/22 | $606,919 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $795,081 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,194,771 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,989,852 |
| Total Program Service Revenue | $0 |
| Investment income | $130,743 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $61,426 |
| Net Income from Fundraising Events | -$97,132 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,084,889 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $884,252 |
| 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 | $8,994 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $54,766 |
| Fees for services: Other | $254,944 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,107 |
| All other expenses | $0 |
| Total functional expenses | $1,411,322 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $678,055 |
| Savings and temporary cash investments | $250,524 |
| Pledges and grants receivable | $3,843,277 |
| 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 | $19,636 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $16,707,146 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $21,498,638 |
| Accounts payable and accrued expenses | $201,634 |
| 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 | $201,634 |
| Net assets without donor restrictions | $5,935,085 |
| Net assets with donor restrictions | $15,361,919 |
| 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 | $21,498,638 |