Itawamba Community College Foundation Inc
- Assets
- $6.1m
- Revenue
- $348.0k
- Investments
- $3.5m
- Employees
- 0
- Location
- Fulton, MS
- Founding
- 02/1980
- Data as of
- 06/2022
- EIN
- 64-0579426
Organization Overview
Itawamba Community College Foundation Inc is located in Fulton, MS. The organization was established in 1980. 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. Itawamba 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, Itawamba Community College Foundation Inc generated $348.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.5%) each year. All expenses for the organization totaled $347.1k during the year ending 06/2022. 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
FUNDED TO BENEFIT AND SUPPORT ITAWAMBA COMMUNITY COLLEGE
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENT SCHOLARSHIPS
AIDED PROGRAMS OF CREDIT AND NONCREDIT AT ICC
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ernest Joyner Immediate Past Chair | OfficerTrustee | $0 | |
Jerry Robbins Chair | OfficerTrustee | $0 | |
Sandra S South Treasurer | OfficerTrustee | $0 | |
Mark Burleson Secretary | OfficerTrustee | $0 | |
Buddy Montgomery Vice Chair | OfficerTrustee | $0 | |
Ronnie Boozer Director | Trustee | $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 | $383,761 |
| Noncash contributions included in lines 1a–1f | $4,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $383,761 |
| Total Program Service Revenue | $0 |
| Investment income | -$35,746 |
| 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 | $348,015 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $273,534 |
| 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 | $20,076 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $42,977 |
| Fees for services: Other | $841 |
| Advertising and promotion | $0 |
| Office expenses | $711 |
| Information technology | $8,000 |
| 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 | $1,000 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $347,139 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,714,364 |
| Savings and temporary cash investments | $890,629 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $183 |
| 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 | $3,531,276 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,136,452 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $3,131,968 |
| Net assets with donor restrictions | $3,004,484 |
| 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 | $6,136,452 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Itawamba Community College Foundation Inc has recieved totaling $12,545.
| Awarding Organization | Amount |
|---|---|
2nd Chance Ms Inc Oxford, MS PURPOSE: TO PROVIDE SUPPORT FOR TUITION/GAS/ETC TO STUDENTS OF ACCELERATED PROGRAMS | $12,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $45 |
Endowment Analysis
| Beg. Balance | $3,613,538 |
| Earnings | -$82,262 |
| Ending Balance | $3,531,276 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Education Loan Finance Inc Knoxville, TN | $2,281,627,256 | $227,234,757 |
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
The Hartwell Foundation Corporation Memphis, TN | $88,595,532 | $17,280,759 |
Scholarships For Kids Inc Birmingham, AL | $21,791,162 | $14,541,038 |
Golf Club Of Tennessee Kingston Springs, TN | $25,072,540 | $8,179,428 |
Woodward Hines Education Foundation Jackson, MS | $222,031,290 | $28,726,652 |
Bill And Carol Latimer Charitable Foundation Union City, TN | $129,837,485 | $34,799,223 |
Chi Omega Foundation Memphis, TN | $45,483,838 | $7,373,045 |
Memphis Teacher Residency Inc Memphis, TN | $5,540,031 | $6,575,161 |
Uab Research Foundation Birmingham, AL | $14,400,184 | $5,771,462 |
Eminent Scholars Foundation Huntsville, AL | $0 | $754,182 |
Ulm Athletic Foundation Monroe, LA | $3,668,358 | $2,963,740 |