Randolph Technical College Foundation Inc
- Assets
- $13.6m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Asheboro, NC
- Founding
- 02/1980
- Data as of
- 06/2022
- EIN
- 58-1384368
Organization Overview
Randolph Technical College Foundation Inc is located in Asheboro, NC. The organization was established in 1980. 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. Randolph 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, Randolph Technical College Foundation Inc generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.4% each year . All expenses for the organization totaled $450.1k during the year ending 06/2022. 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 RANDOLPH COMMUNITY COLLEGE FOUNDATION IS A NON PROFIT ORGANIZATION THAT PROVIDES A MARGIN OF EXCELLENCE FOR RANDOLPH COMMUNITY COLLEGE BY BUILDING A STRONG RELATIONSHIP WITH THE LOCAL COMMUNITY, ACQUIRING AND MANAGING CONTRIBUTIONS, AND FUNDING ACTIVITIES WHICH SUPPORT THE COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS MADE DIRECTLY TO RCC FOR STUDENT SCHOLARSHIPS, PROGRAM SUPPORT, AND OTHER COLLEGE ACTIVITIES.
GRANTS MADE TO VENDORS TO SUPPORT RCC (EMERGENCY GRANTS TO STUDENTS, STUDENT LEADERSHIP ACADEMY, EMPLOYEE APPRECIATION), PROGRAM SUPPORT, AND OTHER COLLEGE ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daffie Garris Treasurer | OfficerTrustee | 1 | $0 |
Lisa Wright Secretary - Nonvoting | OfficerTrustee | 0 | $0 |
Mini Singh President | OfficerTrustee | 1 | $0 |
Gail Mcdowell Vice President | OfficerTrustee | 1 | $0 |
Ann M Hoover Board Member | Trustee | 0 | $0 |
Dr Cynthia Schroder Board Member | Trustee | 0 | $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 | $263,468 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $263,468 |
| Total Program Service Revenue | $0 |
| Investment income | $952,307 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $704,687 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,920,462 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $294,147 |
| 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 | $8,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $34,146 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,766 |
| 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 | $914 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $12,821 |
| Total functional expenses | $450,143 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $976,847 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $227 |
| 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 | $12,578,112 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,971 |
| Total assets | $13,558,157 |
| Accounts payable and accrued expenses | $2,394 |
| 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 | $2,394 |
| Net assets without donor restrictions | $2,130,611 |
| Net assets with donor restrictions | $11,425,152 |
| 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 | $13,558,157 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Randolph Technical College Foundation Inc has recieved totaling $7,176.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $7,100 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $76 |
Endowment Analysis
| Beg. Balance | $11,873,915 |
| Earnings | -$791,064 |
| Admin Expense | $51,652 |
| Net Contributions | $102,730 |
| Other Expense | $210,003 |
| Grants | $115,587 |
| Ending Balance | $10,808,339 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Georgia Tech Foundation Inc Atlanta, GA | $3,057,656,645 | $246,304,114 |
The University Of Tennessee Foundat Ion Inc Knoxville, TN | $742,610,209 | $198,804,674 |
Nc State Investment Fund Inc Raleigh, NC | $1,930,063,391 | $166,344,497 |
Spelman College Special Ventures Fund Inc Atlanta, GA | $236,389,415 | $26,274,154 |
University Of South Carolina Educational Foundation Columbia, SC | $607,523,681 | $89,201,263 |
Old Dominion University Research Foundation Norfolk, VA | $35,170,684 | $51,598,508 |
University Of Virginia Darden School Foundation Charlottesville, VA | $664,692,543 | $80,428,705 |
Unc Health Foundation Inc Chapel Hill, NC | $571,825,040 | $92,147,897 |
William & Mary Foundation Williamsburg, VA | $1,122,551,962 | $79,373,462 |
Shorter University Inc Rome, GA | $57,209,537 | $39,807,545 |
Kennesaw State University Foundation Inc Kennesaw, GA | $537,455,993 | $85,548,111 |
University Of Virginia Foundation Charlottesville, VA | $508,958,321 | $36,530,024 |