Gateway Community And Technical College Foundation Inc
- Assets
- $3.7m
- Revenue
- $4.0m
- Investments
- $3.5m
- Employees
- 0
- Location
- Florence, KY
- Founding
- 10/1994
- Data as of
- 06/2022
- EIN
- 61-1239550
Organization Overview
Gateway Community And Technical College Foundation Inc is located in Florence, KY. The organization was established in 1994. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, 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. Gateway Community And 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION WAS FORMED TO STIMULATE VOLUNTARY FINANCIAL SUPPORT FOR GATEWAY COMMUNITY AND TECHNICAL COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CAMPUS DEVELOPMENT - GATEWAY COMMUNITY AND TECHNICAL COLLEGE IS DEVELOPING AN URBAN CAMPUS IN COVINGTON, KY. THE FOUNDATION PROVIDES FINANCIAL SUPPORT TO ASSIST IN CAMPUS DEVELOPMENT TO ENHANCE ACCESS AND QUALITY OF POSTSECONDARY EDUCATION.
STUDENT ASSISTANCE - THE FOUNDATION PROVIDES FUNDS FOR DIRECT STUDENT ASSISTANCE THROUGH SPONSORSHIPS AND SCHOLARSHIPS. FINANCIAL ISSUES OFTEN ARE CITED AS BARRIERS TO COMPLETION AND THE FOUNDATION SUPPORTS STUDENTS SO THEY ARE ABLE TO STAY IN COLLEGE AND GRADUATE.
COLLEGE FINANCIAL SUPPORT - PROVIDING FINANCIAL SUPPORT FOR ACTIVITIES AND PROJECTS THAT ADVANCE THE MISSION OF GATEWAY COMMUNITY AND TECHNICAL COLLEGE. THESE INCLUDE FOUNDATION PROJECTS, EMPLOYEE DEVELOPMENT, INCENTIVE PLANS, PROMOTIONAL MATERIAL, AND THE PRESIDENT'S DISCRETIONARY FUND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Nienaber Chairman | OfficerTrustee | 4 | $0 |
Jordan Huizenga Vice Chair | OfficerTrustee | 4 | $0 |
Beth Vice-Cross Treasurer | OfficerTrustee | 4 | $0 |
Adam Kressler Secretary | OfficerTrustee | 4 | $0 |
John Baines Director | Trustee | 1 | $0 |
Brent Cooper Director | Trustee | 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 | $3,948,288 |
| Noncash contributions included in lines 1a–1f | $5,321 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,948,288 |
| Total Program Service Revenue | $0 |
| Investment income | $37,910 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $12,183 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,998,381 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $990,836 |
| 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 | $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 | $17,431 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,274 |
| All other expenses | $75,260 |
| Total functional expenses | $1,100,219 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $168,877 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $33,250 |
| Accounts receivable, net | $27,214 |
| 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 | $0 |
| Investments—other securities | $3,454,937 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $55,840 |
| Total assets | $3,740,118 |
| Accounts payable and accrued expenses | $23,700 |
| Grants payable | $0 |
| Deferred revenue | $57,254 |
| 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 | $86,318 |
| Total liabilities | $167,272 |
| Net assets without donor restrictions | $30,190 |
| Net assets with donor restrictions | $3,542,656 |
| 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 | $3,740,118 |
Grants Awarded
Over the last fiscal year, Gateway Community And Technical College Foundation Inc has awarded $990,836 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GATEWAY COMMTECH COLLEGE PURPOSE: SCHOLARSHIPS | $916,370 |
GATEWAY COMMTECH COLLEGE PURPOSE: STUDENT ASSISTANCE | $74,466 |