Fayetteville Technical Community College Foundation Inc
- Assets
- $6.1m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Fayetteville, NC
- Founding
- 10/1985
- Data as of
- 06/2022
- EIN
- 58-1640133
Organization Overview
Fayetteville Technical Community College Foundation Inc is located in Fayetteville, NC. The organization was established in 1985. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fayetteville Technical 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, Fayetteville Technical Community College Foundation Inc generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $646.1k during the year ending 06/2022. While expenses have increased by 11.5% 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
TO PROVIDE SUPPORT TO FAYETTEVILLE TECHNICAL COMMUNITY COLLEGE FOR SCHOLARSHIPS, GRANTS, AND CAPITAL ITEMS TO SUPPORT EDUCATION AT FTCC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SUPPORT TO FAYETTEVILLE TECHNICAL COMMUNITY COLLEGE FOR SCHOLARSHIPS, GRANTS, AND CAPITAL ITEMS TO SUPPORT EDUCATION AND THE STUDENT EXPERIENCE AT FTCC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carolyn Armstrong Secretary | OfficerTrustee | 1 | $0 |
Jay Dowdy Vice Chair | OfficerTrustee | 1 | $0 |
Brad Hurley Chair | OfficerTrustee | 1 | $0 |
Tim Price Secretary | OfficerTrustee | 1 | $0 |
Kevin Bunn Treasurer | OfficerTrustee | 1 | $0 |
Dixon Soffe Assistant Tr | OfficerTrustee | 1 | $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 | $927,499 |
| Noncash contributions included in lines 1a–1f | $115,659 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $927,499 |
| Total Program Service Revenue | $0 |
| Investment income | $97,675 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,025,174 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $5,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $27,732 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $8,393 |
| 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 | $75,373 |
| Total functional expenses | $646,077 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,178,157 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,047 |
| 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 | $4,951,299 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,131,503 |
| Accounts payable and accrued expenses | $501 |
| 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 | $501 |
| Net assets without donor restrictions | $424,904 |
| Net assets with donor restrictions | $5,706,098 |
| 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 | $6,131,503 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Fayetteville Technical Community College Foundation Inc has recieved totaling $227,011.
| Awarding Organization | Amount |
|---|---|
John M Belk Endowment Charlotte, NC PURPOSE: ADULT LEARNER CENTER | $75,000 |
Educational Credit Management Corporation Minneapolis, MN PURPOSE: Project Success Emergency Aid | $55,000 |
John M Belk Endowment Charlotte, NC PURPOSE: STEP TO SUCCESSFUL ACADEMIC PROGRESS (STEP TO SAP) INITIATIVE | $50,000 |
Cumberland Community Foundation Inc Fayetteville, NC PURPOSE: CHARITABLE GIFT | $22,270 |
Youth Growth Stock Trust Fayetteville, NC PURPOSE: GENERAL SUPPORT | $15,000 |
Columbus Foundation Columbus, OH PURPOSE: EDUCATION | $7,500 |
Endowment Analysis
| Beg. Balance | $5,493,185 |
| Earnings | -$824,124 |
| Admin Expense | $26,314 |
| Net Contributions | $130,986 |
| Grants | $122,407 |
| Ending Balance | $4,651,326 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
William R Moore College Of Technology Memphis, TN | $12,323,683 | $4,462,075 |
Fayetteville Technical Community College Foundation Inc Fayetteville, NC | $6,131,503 | $1,025,174 |
Piedmont Technical College Foundation Inc Greenwood, SC | $11,201,364 | $1,184,139 |
Southeastern Technical Institute Foundation Inc Vidalia, GA | $1,380,668 | $420,554 |
Abc Of West Tennessee Education Tr Inc Memphis, TN | $46,841 | $0 |