Volunteer State College Foundation
- Assets
- $7.8m
- Revenue
- $867.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Gallatin, TN
- Founding
- 12/1989
- Data as of
- 06/2022
- EIN
- 58-1863050
Organization Overview
Volunteer State College Foundation is located in Gallatin, TN. The organization was established in 1989. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Volunteer State 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, Volunteer State College Foundation generated $867.5k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $633.5k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (10.0%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Volunteer State College Foundation has awarded 20 individual grants totaling $3,979,795. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE AND ADMINISTER FUNDS TO SUPPORT THE EDUCATIONAL OBJECTIVES OF VOLUNTEER STATE COMMUNITY COLLEGE AND SOLICIT THE ACTIVE INVOLVEMENT OF ALL COMMUNITIES WITHIN OUR SERVICE AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A PRIMARY FUNCTION OF VOLUNTEER STATE COLLEGE FOUNDATION IS TO INCREASE THE LEVEL OF EDUCATIONAL ATTAINMENT BY THE CITIZENS OF NORTHERN MIDDLE TENNESSEE. TO THIS END, THE FOUNDATION SEEKS FUNDS FOR CAPITAL PROJECTS, ACADEMIC PROGRAM SUPPORT, NECESSARY OPERATIONAL EXPENSES NOT COVERED BY STATE OR FEDERAL FUNDING, AND TO PROVIDE SCHOLARSHIPS. CURRENTLY, THE FOUNDATION OFFERS MORE THAN 175 DIFFERENT ANNUAL AND ENDOWED SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Orthinia Montague College Pres | OfficerTrustee | 1 | $0 |
Dr Jerry Faulkner Past College | OfficerTrustee | 1 | $0 |
Daisy Casey Board Chair | OfficerTrustee | 1 | $0 |
David Gregory Vice Chair | OfficerTrustee | 1 | $0 |
Steven Parker Campaign Cha | OfficerTrustee | 1 | $0 |
Karen Mitchell Executive Di | Officer | 37.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $56,839 |
| Related organizations | $61,484 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $279,688 |
| Noncash contributions included in lines 1a–1f | $7,900 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $398,011 |
| Total Program Service Revenue | $67,244 |
| Investment income | $205,629 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $112,841 |
| Net Income from Fundraising Events | $83,743 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $867,468 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $304,255 |
| 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 | $67,531 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $32,270 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $100,417 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $27,652 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $101,404 |
| Total functional expenses | $633,529 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $495,685 |
| Pledges and grants receivable | $500 |
| 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 | $0 |
| Investments—publicly traded securities | $7,311,842 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,243 |
| Total assets | $7,824,270 |
| Accounts payable and accrued expenses | $200,769 |
| 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 | $200,769 |
| Net assets without donor restrictions | $2,368,242 |
| Net assets with donor restrictions | $5,255,259 |
| 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 | $7,824,270 |
Grants Awarded
Over the last fiscal year, Volunteer State College Foundation has awarded $1,962,252 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
VOLUNTEER STATE COMMUNITY COLLEGE PURPOSE: ANNUAL CAMPAIGN | $488,187 |
VOLUNTEER STATE COMMUNITY COLLEGE PURPOSE: ANNUAL CAMPAIGN | $488,187 |
VOLUNTEER STATE COMMUNITY COLLEGE PURPOSE: ANNUAL CAMPAIGN | $488,187 |
VOLUNTEER STATE COMMUNITY COLLEGE PURPOSE: SCHOLARSHIPS | $143,016 |
VOLUNTEER STATE COMMUNITY COLLEGE PURPOSE: SCHOLARSHIPS | $143,016 |
VOLUNTEER STATE COMMUNITY COLLEGE PURPOSE: SCHOLARSHIPS | $143,016 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Volunteer State College Foundation has recieved totaling $12,198.
| Awarding Organization | Amount |
|---|---|
Dodson Family Charitable Foundation Inc Gallatin, TN PURPOSE: FOR ITS GENERAL PURPOSES | $10,000 |
Edward R And Ruby J@lea Charitable Trust B Carthage, TN PURPOSE: EDUCATION SCHOLARSHIP FOR STUDENTS | $1,000 |
Lincoln Financial Foundation Inc Radnor, PA PURPOSE: MATCHING GIFT | $500 |
Lpl Financial Foundation Inc Boston, MA PURPOSE: OPERATIONAL SUPPORT | $400 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $298 |
Endowment Analysis
| Beg. Balance | $8,007,358 |
| Earnings | -$1,273,498 |
| Net Contributions | $13,062 |
| Other Expense | $12,679 |
| Grants | $106,275 |
| Ending Balance | $6,627,967 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Education Loan Finance Inc Knoxville, TN | $2,281,627,256 | $227,234,757 |
Educational Foundation Inc Chapel Hill, NC | $193,854,804 | $63,834,996 |
Nc Student Aid Association Inc Raleigh, NC | $102,296,557 | $23,877,668 |
Virginia Student Aid Foundation Charlottesville, VA | $165,530,915 | $45,876,846 |
Georgia Goal Scholarship Program Inc Peachtree Corners, GA | $58,000,031 | $45,569,079 |
Georgia State University Athletic Association Inc Atlanta, GA | $12,025,331 | $28,251,593 |
The North Carolina A&t Real Estate Foundation Inc Greensboro, NC | $169,150,909 | $33,021,773 |
Horatio Alger Association Of Distinguished Americans Inc Alexandria, VA | $58,355,936 | $27,092,429 |
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
James Madison University Foundation Inc Harrisonburg, VA | $191,139,680 | $18,508,438 |
Marine Corps Scholarship Foundation Inc Alexandria, VA | $149,128,193 | $34,285,716 |
Children Of Fallen Patriots Foundation Reston, VA | $18,264,760 | $13,060,746 |