Arkansas Community Colleges Foundation
- Assets
- $2.1m
- Revenue
- $5.4m
- Investments
- $0.0
- Employees
- 7
- Location
- Little Rock, AR
- Founding
- 10/1997
- Data as of
- 06/2023
- EIN
- 71-0795889
Organization Overview
Arkansas Community Colleges Foundation is located in Little Rock, AR. The organization was established in 1997. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, under the broad grouping of Education and related organizations. As of 06/2023, Arkansas Community Colleges Foundation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arkansas Community Colleges 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 06/2023, Arkansas Community Colleges Foundation generated $5.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.7% each year . All expenses for the organization totaled $4.9m during the year ending 06/2023. While expenses have increased by 8.8% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SERVICES TO ARKANSAS TWO YEAR COLLEGES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED SERVICES TO 22 ARKANSAS TWO-YEAR COLLEGES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Bloomberg Chair | OfficerTrustee | 1 | $0 |
Bentley Wallace Chair-Elect | OfficerTrustee | 1 | $0 |
John Hogan Past Chair | OfficerTrustee | 1 | $0 |
Cathie Cline Officer | OfficerTrustee | 1 | $0 |
Christine Holt Officer | OfficerTrustee | 1 | $0 |
Brian Shonk Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $522,772 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,124,757 |
| All other contributions, gifts, grants, and similar amounts not included above | $218,059 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,865,588 |
| Total Program Service Revenue | $497,177 |
| Investment income | $15,705 |
| 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 | $5,381,022 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $18,000 |
| Compensation of current officers, directors, key employees. | $18,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $482,551 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $125,316 |
| Payroll taxes | $36,319 |
| 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 | $0 |
| Fees for services: Other | $164,372 |
| Advertising and promotion | $20,895 |
| Office expenses | $7,582 |
| Information technology | $10,498 |
| Royalties | $0 |
| Occupancy | $26,114 |
| Travel | $31,778 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $163,431 |
| Interest | $16,007 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,069 |
| Insurance | $8,416 |
| All other expenses | $908 |
| Total functional expenses | $4,891,120 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $954,082 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $801,379 |
| 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 | $324,632 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,837 |
| Total assets | $2,085,930 |
| Accounts payable and accrued expenses | $322,107 |
| Grants payable | $0 |
| Deferred revenue | $657,295 |
| 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 | $324,296 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,303,698 |
| Net assets without donor restrictions | $782,232 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,085,930 |