College Foundation Inc
- Assets
- $2.9m
- Revenue
- $552.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Henderson, KY
- Founding
- 08/1957
- Data as of
- 06/2024
- EIN
- 61-6035281
Organization Overview
College Foundation Inc is located in Henderson, KY. The organization was established in 1957. 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. 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 06/2024, College Foundation Inc generated $552.7k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $205.5k during the year ending 06/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, College Foundation Inc has awarded 20 individual grants totaling $3,477,516. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE COLLEGE FOUNDATION, INC. WAS FOUNDED TO SUPPORT THE MISSION OF HENDERSON COMMUNITY COLLEGE BY RAISING FUNDS AND AWARENESS THROUGHOUT THE COMMUNITY. IT IS A SEPARATE NOT-FOR-PROFIT 501(C)(3) ORGANIZATION, LED BY AN INDEPENDENT BOARD OF DIRECTORS. THE PRIMARY PURPOSES OF THE FOUNDATION INCLUDE ADVANCING THE VISION, MISSION, GOALS, AND OBJECTIVES OF HCC AND: CATALYST, LEADERSHIP, AND COORDINATION FOR THE PRIVATE-SECTOR RESOURCE DEVELOPMENT PROGRAMS AND ACTIVITIES OF HENDERSON COMMUNITY COLLEGE. RAISE PRIVATE FUNDS FOR COLLEGE-WIDE INITIATIVES AND NEEDS. PROVIDE OVERSIGHT AND GUIDANCE FOR THE MANAGEMENT AND INVESTMENT OF PRIVATE FUNDS. FRIEND-RAISER AND ADVOCATE FOR HENDERSON COMMUNITY COLLEGE. ADVISOR TO HENDERSON COMMUNITY COLLEGE PRESIDENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COLLEGE FOUNDATION, INC. PROVIDES SUPPORT FOR STUDENT SCHOLARSHIPS AT HENDERSON COMMUNITY COLLEGE. THE FOUNDATION NOW PROVIDES FINANCIAL SUPPORT FOR TWENTY SCHOLARSHIP PROGRAMS FOR THE COLLEGE. THE AWARDS RANGE FROM 120 TO 750 PER SEMESTER TO ASSIST IN THE COST OF TUITION AND BOOKS/FEES. ADDITIONAL FINANCIAL SUPPORT WAS PROVIDED TO ASSIST HIGH SCHOOL STUDENTS IN OBTAINING COLLEGE CREDIT THROUGH AP COURSES PROVIDED AT THEIR LOCAL HIGH SCHOOLS. THE FOUNDATION PROVIDES FINANCIAL SUPPORT FOR THE ROTARY COLONELS TO COLLEGE AND BRAVES TO COLLEGE PROGRAMS WHICH PROVIDES SCHOLARSHIPS (ADMINISTERED BY THE COLLEGE) TO ELIGBLE STUDENTS OF HENDERSON AND UNION COUNTIES, RESPECTIVELY, WHO MEET SPECIFIC CRITERIA TO CONTINUE THEIR EDUCATION AT HENDERSON COMMUNITY COLLEGE. FUNDS FOR THESE PROGRAMS ARE REMITTED ANNUALLY TO THE COLLEGE'S COMMON FUND WHERE MATCHING FUNDS ARE AWARDED BY THE STATE OF KENTUCKY.
THE COLLEGE FOUNDATION, INC. PROVIDES FINANCIAL SUPPORT TO THE FACULTY AND STAFF OF HENDERSON COMMUNITY COLLEGE TO MAINTAIN QUALITY PROGRAMS, TO PROVIDE FOR STUDENT ACADEMIC ACTIVITIES, AND ASSIST IN PUBLIC RELATIONS, PROFESSIONAL DEVELOPMENT AND RECRUITING. THESE FUNDS ALLOW THE PRESIDENT TO RESPOND TO THE NEEDS AND OPPORTUNITES TO ENHANCE THE EXPERIENCE OF STUDENTS AT THE HENDERSON CAMPUS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jinger Carter Director | Trustee | $0 | |
Whitney Floyd Director | Trustee | $0 | |
Lisa Garrett Director | Trustee | $0 | |
Bill Gentry President | OfficerTrustee | $0 | |
Brian Hawkes Director | Trustee | $0 | |
J Christopher Hopgood Vice Preside | OfficerTrustee | $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 | $162,580 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $162,580 |
| Total Program Service Revenue | $0 |
| Investment income | $313,292 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $12,324 |
| Net Gain/Loss on Asset Sales | $64,503 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $552,699 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $171,266 |
| Grants and other assistance to domestic individuals. | $15,171 |
| 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 | $12,450 |
| 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 | $631 |
| 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 | $1,348 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,784 |
| All other expenses | $855 |
| Total functional expenses | $205,505 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $140,115 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,000 |
| 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 | $42,000 |
| Investments—publicly traded securities | $2,706,444 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $405 |
| Total assets | $2,889,964 |
| Accounts payable and accrued expenses | $1,475 |
| 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 | $1,475 |
| Net assets without donor restrictions | $1,114,442 |
| Net assets with donor restrictions | $1,774,047 |
| 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 | $2,889,964 |
Grants Awarded
Over the last fiscal year, College Foundation Inc has awarded $171,266 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
HENDERSON COMMUNITY COLLEGE PURPOSE: SEE PART IV | $121,266 |
HENDERSON COMMUNITY COLLEGE PURPOSE: SEE PART IV | $50,000 |