Seminole State College Educational Foundation Inc
- Assets
- $15.4m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 1
- Location
- Seminole, OK
- Founding
- 07/1972
- Data as of
- 12/2023
- EIN
- 73-0781297
Organization Overview
Seminole State College Educational Foundation Inc is located in Seminole, OK. The organization was established in 1972. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, 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. Seminole State College Educational 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 12/2023, Seminole State College Educational Foundation Inc generated $3.4m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 26.0% each year . All expenses for the organization totaled $2.6m during the year ending 12/2023. While expenses have increased by 18.5% per year over the past 9 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.
Since 2020, Seminole State College Educational Foundation Inc has awarded 55 individual grants totaling $3,539,329. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE COLLEGE SUPPORT, STUDENT SCHOLARSHIPS, AND ECONOMIC DEVELOPMENT IN SURROUNDING AREAS
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEMINOLE STATE COLLEGE EDUCATIONAL FOUNDATION VIA THE RURAL BUSNESS RESOURCE CENTER USES CONTRIBUTION REVENUE FROM THE OKLAHOMA DEPARTMENT OF COMMERCE (ODOC) TO FOSTER ECONOMIC DEVELOPMENT IN THE SURROUNDING AREAS.
SEMINOLE STATE COLLEGE EDUCATIONAL FOUNDATION PROVIDES SUPPORT TO SEMINOLE SATE COLLEGE
SEMINOLE STATE COLLEGE EDUCATIONAL FOUNDATION OWNS AND OPERATES THE BRIAN CRAWFORD MEMORIAL SPORTS COMPLEX (BCMSC), WHICH PROVIDES FIELDS AND OTHER FACILITIES FOR SOME SEMINOLE STATE COLLEGE SPORTS TEAMS AND FOSTERS ECONOMIC DEVELOPMENT IN THE SURROUNDING AREAS BY HOSTING SPORTS TOURNAMENTS AND OTHER EVENTS.
SEMINOLE STATE COLLEGE EDUCATIONAL FOUNDATION PROVIDES SCHOLARSHIPS TO SEMINOLE STATE COLLEGE STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lance Wortham Chairman | OfficerTrustee | 1 | $0 |
Mark Schell Vice-Chair | OfficerTrustee | 1 | $0 |
Andy Tucker Vice-Chair | OfficerTrustee | 1 | $0 |
Steve Bagwell Trustee | Trustee | 1 | $0 |
Rocky Barrett Trustee | Trustee | 1 | $0 |
Dan Boren Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Elite Concrete Concrete Contractor | 12/30/22 | $301,723 |
Hellas Construction Inc Artificial Turf Field Installer | 12/30/22 | $490,355 |
First Team Outdoor Video Display Inc Digital Scoreboard Manufacturer | 12/30/22 | $251,900 |
Rempel's Rock-n-ready Mix Inc Concrete Contractor | 12/30/22 | $255,030 |
Kb Electric Llc Electrical Installation Company | 12/30/22 | $145,525 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,666,667 |
| All other contributions, gifts, grants, and similar amounts not included above | $160,937 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,827,604 |
| Total Program Service Revenue | $156,790 |
| Investment income | $318,373 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $689 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $18,759 |
| Net Income from Fundraising Events | $91,751 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,415,676 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,379,850 |
| Grants and other assistance to domestic individuals. | $44,655 |
| 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 | $80,733 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $19,396 |
| Payroll taxes | $20,213 |
| Fees for services: Management | $42,600 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,396 |
| Fees for services: Lobbying | $84,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,213 |
| Fees for services: Other | $21,406 |
| Advertising and promotion | $0 |
| Office expenses | $8,325 |
| Information technology | $7,947 |
| Royalties | $0 |
| Occupancy | $543,248 |
| Travel | $16,355 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,218 |
| Interest | $6,481 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $122,803 |
| Insurance | $52,490 |
| All other expenses | $36,349 |
| Total functional expenses | $2,644,354 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,443,768 |
| Savings and temporary cash investments | $303,486 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $100,000 |
| 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 | $4,751,469 |
| Investments—publicly traded securities | $2,248,560 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,581,174 |
| Total assets | $15,428,457 |
| Accounts payable and accrued expenses | $71,897 |
| 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 | $7,022,885 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $240,000 |
| Total liabilities | $7,334,782 |
| Net assets without donor restrictions | $2,224,008 |
| Net assets with donor restrictions | $5,869,667 |
| 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 | $15,428,457 |
Grants Awarded
Over the last fiscal year, Seminole State College Educational Foundation Inc has awarded $591,878 in support to 29 organizations.
| Grant Recipient | Amount |
|---|---|
AMF ENTERPRISES LLC PURPOSE: Economic Development | $20,000 |
THE TRUCK SHOP LLC PURPOSE: Economic Development | $20,000 |
WISDOM TREE IT LLP PURPOSE: Economic Development | $20,000 |
WANDA JEAN'S UPTOWN CAFE PURPOSE: Economic Development | $10,000 |
J & M COPELAND ENTERPRISES LLC PURPOSE: Economic Development | $20,000 |
LUMATECH CORPORATION PURPOSE: Economic Development | $20,000 |