Isothermal Community College Foundation Inc
- Assets
- $2.7m
- Revenue
- $322.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Spindale, NC
- Founding
- 12/1983
- Data as of
- 06/2022
- EIN
- 58-1518223
Organization Overview
Isothermal Community College Foundation Inc is located in Spindale, NC. The organization was established in 1983. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, 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. Isothermal Community 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, Isothermal Community College Foundation Inc generated $322.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $169.1k 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
FOSTER AND PROMOTE THE PROGRESS AND GENERAL WELFARE OF THE COLLEGE & TO ENHANCE FINANCIAL STABILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS AND FUNDS TO STUDENTS OF ISOTHERMAL COMMUNITY COLLEGE TO PROVIDE ASSISTANCE IN OBTAINING A COLLEGE DEGREE
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margaret Annunziata Board Member | Trustee | 1 | $146,728 |
Thad Harrill Executive Director | Officer | 1 | $93,555 |
Amy Penson Asst Treasurer | Officer | 2 | $81,051 |
Mike Gavin Board Member | Trustee | 1 | $58,568 |
Sarah Morse Board Member | Trustee | 1 | $44,720 |
Leon Godlock Vice Chair | Officer | 1 | $4,473 |
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 | $53,788 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $53,788 |
| Total Program Service Revenue | $0 |
| Investment income | $99,322 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $142,157 |
| Net Income from Fundraising Events | $26,780 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $322,047 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $104,089 |
| 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 | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $169,110 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$3 |
| Savings and temporary cash investments | $174,646 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,200 |
| 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 | $2,490,109 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,687,952 |
| Accounts payable and accrued expenses | $23,200 |
| 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 | $23,200 |
| Net assets without donor restrictions | $210,361 |
| Net assets with donor restrictions | $2,454,391 |
| 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 | $2,687,952 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Isothermal Community College Foundation Inc has recieved totaling $150.
| Awarding Organization | Amount |
|---|---|
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $150 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North Greenville University Tigerville, SC | $119,067,807 | $70,918,977 |
Young Harris College Young Harris, GA | $174,387,873 | $47,760,154 |
William Peace University Raleigh, NC | $89,474,772 | $34,889,332 |
Truett Mcconnell University Inc Cleveland, GA | $54,652,969 | $32,427,096 |
Southern Virginia University Buena Vista, VA | $37,155,964 | $26,776,085 |
Spartanburg Methodist College Spartanburg, SC | $52,317,686 | $26,371,934 |
Martin Methodist College Pulaski, TN | $36,451,504 | $26,683,667 |
Louisburg College Louisburg, NC | $47,886,546 | $23,005,525 |
Saint Marys School Raleigh, NC | $74,590,364 | $23,129,284 |
Andrew College Cuthbert, GA | $29,741,190 | $11,623,662 |
Pellissippi State Community College Foundation Knoxville, TN | $20,765,427 | $1,042,268 |
Clinton College Rock Hill, SC | $6,214,571 | $5,235,874 |