Spartanburg Community College Foundation
- Assets
- $11.2m
- Revenue
- $802.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Spartanburg, SC
- Founding
- 09/1983
- Data as of
- 06/2022
- EIN
- 57-0751500
Organization Overview
Spartanburg Community College Foundation is located in Spartanburg, SC. The organization was established in 1983. According to its NTEE Classification (B19) the organization is classified as: Support N.E.C., 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. Spartanburg Community College Foundation 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, Spartanburg Community College Foundation generated $802.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.8%) each year. All expenses for the organization totaled $1.3m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (4.8%) per year over the past 7 years. 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
TO DEVELOP AND ADMINISTER PROGRAMS ORGANIZED EXCLUSIVELY TO RECEIVE AND HOLD BY BEQUEST, GIFT, OR PURCHASE ANY PROPERTY AND TO MANAGE, INVEST, AND USE THE PROPERTY FOR SCIENTIFIC, EDUCATIONAL, AND CHARITABLE PURPOSES FOR THE ADVANCEMENT OF SPARTANBURG COMMUNITY COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ASSISTANCE TO SPARTANBURG COMMUNITY COLLEGE BY PROVIDING FACILITIES IN CHEROKEE COUNTY, SPARTANBURG COUNTY, AND UNION COUNTY TO FURTHER THEIR MISSION OF ACHIEVING EDUCATIONAL EXCELLENCE THAT CONTRIBUTES TO A VIBRANT LOCAL ECONOMY.
PROVIDE ASSISTANCE TO SPARTANBURG COMMUNITY COLLEGE, A COMPREHENSIVE PUBLIC TWO-YEAR COMMUNITY COLLEGE, IN THE FORM OF EQUIPMENT, SUPPLIES, AND MATERIALS, THAT HELP THE FACULTY AND THE COLLEGE ACHIEVE EDUCATIONAL EXCELLENCE THAT CONTRIBUTES TO A VIBRANT LOCAL ECONOMY.
SPARTANBURG COMMUNITY COLLEGE FOUNDATION PROMOTES THE COLLEGE'S STRATEGIC PLANS FOR DISTINCTIVE GROWTH AND DEVELOPMENT BY ASSISTING DESERVING STUDENTS WITH SCHOLARSHIPS BASED ON SPECIFIED CRITERIA INCLUDING ACADEMIC STANDING, NEED, SERVICE TO THE COMMUNITY,LEADERSHIP, AND AREA OF STUDY. THE FOUNDATION HAS ESTABLISHED A TEMPORARILY RESTRICTED ACCOUNT FOR BMW SCHORLARSHIPS, THE FUNDING OF WHICH WAS RECEIVED FROM A STATE OF SOUTH CAROLINA GRANT FOR BMW SCHOLAR SCHOLARSHIPS, TO ADVANCE TECHNICAL CAREERS AS PARTICIPANTS IN THE BMW SCHOLARS PROGRAM MANAGED BY THE FOUNDATION AND DISBURSED THROUGH THE SPARTANBURG COUNTY FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregory M Mikota II College Pres Nonvoting Bo | OfficerTrustee | 1 | $40,042 |
Barbara W Smith Director | Officer | 40 | $0 |
James Snead CFO | Officer | 8 | $0 |
Cheryl Black Treasurer | Trustee | 1 | $0 |
Lisa Claxton Board Member | Trustee | 1 | $0 |
Jim Cook Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $3,500 |
| Related organizations | $5,300 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $482,686 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $491,486 |
| Total Program Service Revenue | $200,440 |
| Investment income | $89,939 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$7,086 |
| Net Income from Fundraising Events | $28,114 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $802,893 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $977,482 |
| 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 | $40,042 |
| Fees for services: Legal | $440 |
| Fees for services: Accounting | $25,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $33,331 |
| Fees for services: Other | $0 |
| Advertising and promotion | $99,334 |
| Office expenses | $13,243 |
| Information technology | $3,236 |
| Royalties | $0 |
| Occupancy | $10,000 |
| Travel | $4,699 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,534 |
| Interest | $14,987 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $104,426 |
| Insurance | $9,182 |
| All other expenses | $1,435 |
| Total functional expenses | $1,341,371 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $243,407 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $66,987 |
| 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 | $2,853,189 |
| Investments—publicly traded securities | $14,265 |
| Investments—other securities | $0 |
| Investments—program-related | $7,993,028 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,170,876 |
| Accounts payable and accrued expenses | $2,004 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $578,870 |
| 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 | $580,874 |
| Net assets without donor restrictions | $4,314,993 |
| Net assets with donor restrictions | $6,275,009 |
| 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 | $11,170,876 |
Grants Awarded
Over the last fiscal year, Spartanburg Community College Foundation has awarded $977,482 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
SCC-PUBLIC INSTITUTION OF HIGHER PURPOSE: SCHOLARSHIPS | $411,817 |
GTC- PUBLIC INSTITUTION OF HIGHER PURPOSE: SCHOLARSHIPS | $120,000 |
TCTC- PUBLIC INSTITUTION OF HIGHER PURPOSE: SCHOLARSHIPS | $15,237 |
SCC-PUBLIC INSTITUTION OF HIGHER PURPOSE: CAMPUS BEAUTIFICATIO | $242,142 |
PTC- PUBLIC INSTITUTION OF HIGHER PURPOSE: SCHOLARHIPS | $15,000 |
SCC-PUBLIC INSTITUTION OF HIGHER PURPOSE: ADMIN/COLLEGE SUPPOR | $173,286 |