Kentucky Community & Technical College System Foundation Inc
- Assets
- $7.7m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Versailles, KY
- Founding
- 01/2000
- Data as of
- 06/2021
- EIN
- 61-1351918
Organization Overview
Kentucky Community & Technical College System Foundation Inc is located in Versailles, KY. The organization was established in 2000. 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. Kentucky Community & Technical College System 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 06/2021, Kentucky Community & Technical College System Foundation Inc generated $2.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 30.5% each year . All expenses for the organization totaled $744.0k during the year ending 06/2021. While expenses have increased by 11.4% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION SERVES AS THE NON-PROFIT FUND-RAISING ARM OF KCTCS; IS A CATALYST AND LEADER OF RESOURCE DEVELOPMENT INITIATIVES THAT SUPPORT THE STRATEGIC PLAN OF KCTCS TO MEET THE NEEDS OF ITS STAKEHOLDERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES FUNDRAISING AND SUPPORT FOR THE KENTUCKY COMMUNITY & TECHNICAL COLLEGE SYSTEM THE SYSTEM OPERATES 16 COLLEGES AND MORE THAN 70 CAMPUSES AND HAS ENROLLMENT OF 92,672 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Regent | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,641,129 |
| Investment income | $1,301 |
| 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 | $2,642,430 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $53,728 |
| 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 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 | $11,840 |
| Fees for services: Accounting | $11,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,222 |
| Fees for services: Other | $521,487 |
| Advertising and promotion | $12,013 |
| Office expenses | $10,181 |
| Information technology | $14,333 |
| 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 | $1,302 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,150 |
| All other expenses | $0 |
| Total functional expenses | $743,991 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,794,383 |
| Savings and temporary cash investments | $768,504 |
| Pledges and grants receivable | $5,056 |
| 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 | $3,439 |
| Investments—publicly traded securities | $5,170,982 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,742,364 |
| Accounts payable and accrued expenses | $1,339,216 |
| 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 | $1,339,216 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $6,403,148 |
Grants Awarded
Over the last fiscal year, Kentucky Community & Technical College System Foundation Inc has awarded $85,235 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
BIG SANDY COMMUNITY AND TECHNICAL COLLEGE PURPOSE: ACADEMICS AND TECHNICAL PROGRAMS | $35,000 |
ELIZABETHTOWN COMMUNITY COLLEGE PURPOSE: ACADEMICS AND TECHNICAL PROGRAMS | $29,738 |
Bowling Green, KY PURPOSE: ACADEMICS AND TECHNICAL PROGRAMS | $20,497 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Kentucky Community & Technical College System Foundation Inc has recieved totaling $829,105.
| Awarding Organization | Amount |
|---|---|
James Graham Brown Foundation Inc Louisville, KY PURPOSE: PHASE 3: MOUNTAIN TRAINING NETWORK BELK BUILDING COLLABORATION | $500,000 |
Central Kentucky Community Foundation Inc Elizabethtown, KY PURPOSE: HIGHER EDUCATION | $255,000 |
Honorable Order Of Kentucky Colonels Inc Louisville, KY PURPOSE: GENERAL SUPPORT | $40,000 |
Ascendium Education Solutions Inc Madison, WI PURPOSE: Implementing Competency-Based Education at Scale | $34,100 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Endowment Analysis
| Beg. Balance | $2,008,304 |
| Earnings | $546,469 |
| Net Contributions | $32,693 |
| Ending Balance | $2,587,466 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The University Of Tennessee Foundat Ion Inc Knoxville, TN | $742,610,209 | $198,804,674 |
University Of Louisville Foundation Inc Louisville, KY | $1,075,988,166 | $43,496,002 |
Ohio University Foundation Athens, OH | $641,559,157 | $75,179,430 |
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 |
William & Mary Foundation Williamsburg, VA | $1,122,551,962 | $79,373,462 |
University Of Virginia Foundation Charlottesville, VA | $508,958,321 | $36,530,024 |
Iu Medical Group Foundation Inc Indianapolis, IN | $256,189,183 | $45,380,536 |
University Health Services Inc Richmond, VA | $34,736,696 | $16,366,834 |
Medical College Of Virginia Foundation Richmond, VA | $645,911,510 | $54,318,573 |
University Of Memphis Foundation Memphis, TN | $175,396,802 | $38,710,840 |
Virginia Commonwealth University College Of Engineering Foundation Richmond, VA | $131,974,636 | $12,076,889 |