Victoria College Foundation Inc
- Assets
- $20.0m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Victoria, TX
- Founding
- 03/1980
- Data as of
- 08/2022
- EIN
- 74-1994810
Organization Overview
Victoria College Foundation Inc is located in Victoria, TX. The organization was established in 1980. According to its NTEE Classification (B40) the organization is classified as: Higher Education, 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. Victoria 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 08/2022, Victoria College Foundation Inc generated $4.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $945.2k during the year ending 08/2022. While expenses have increased by 0.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE VICTORIA COLLEGE FOUNDATION IS A 501 (C) (3) NON-PROFIT ORGANIZATION RESPONSIBLE FOR SECURING FINANCIAL RESOURCES AND APPROPRIATELY ALLOCATING THEM TO SUPPORT VICTORIA COLLEGE AND ITS STUDENTS, FACULTY, AND ACADEMIC PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VARIOUS VICTORIA COLLEGE DEPARTMENTS FOR STUDENT SUPPORT SERVICES, SALARIES, AND EQUIPMENT RECEIVED $209,878. STUDENT SCHOLARSHIPS IN THE AMOUNT OF $646,516 WERE AWARDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ben Galvan President | OfficerTrustee | 1 | $0 |
Mike Rivet Vice President | OfficerTrustee | 0.25 | $0 |
Vee Strauss Secretary | OfficerTrustee | 1 | $0 |
Gary Worsham Treasurer | OfficerTrustee | 1 | $0 |
Dr Bruce Bauknight Director | Trustee | 0.25 | $0 |
William A Blackwell Director | Trustee | 0.25 | $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 | $3,181,585 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,181,585 |
| Total Program Service Revenue | $0 |
| Investment income | $646,973 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $6 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $353,574 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,182,138 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $856,394 |
| 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 | $0 |
| Fees for services: Accounting | $9,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $54,619 |
| Fees for services: Other | $8,224 |
| Advertising and promotion | $0 |
| Office expenses | $1,326 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $10,391 |
| All other expenses | $0 |
| Total functional expenses | $945,169 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,525,204 |
| Savings and temporary cash investments | $499,500 |
| Pledges and grants receivable | $980,512 |
| Accounts receivable, net | $26,841 |
| 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 | $13,014,351 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,046,408 |
| Accounts payable and accrued expenses | $44 |
| 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 | $23,132 |
| Total liabilities | $23,176 |
| Net assets without donor restrictions | $20,626 |
| Net assets with donor restrictions | $20,002,606 |
| 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 | $20,046,408 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Victoria College Foundation Inc has recieved totaling $17,000.
| Awarding Organization | Amount |
|---|---|
Peach Mott Foundation Inc Victoria, TX PURPOSE: CHARITABLE/EDUCATIONAL | $10,000 |
Cloyde And Ethel Lee Tracy Foundation Victoria, TX PURPOSE: TO SUPPORT STAFF AND STUDENTS | $5,000 |
Su Cla Foundation Las Vegas, NV PURPOSE: OPERATING FUNDS | $1,000 |
Willard And Anne Levin Foundation Hallettsville, TX PURPOSE: UNRESTRICTED OPERATING FUNDS | $1,000 |
Endowment Analysis
| Beg. Balance | $15,384,189 |
| Earnings | -$2,107,215 |
| Net Contributions | $559,066 |
| Grants | $673,688 |
| Ending Balance | $13,162,352 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Criswell College Dallas, TX | $48,370,190 | $10,030,581 |
Northeastern State University Foundation Inc Tahlequah, OK | $45,168,633 | $4,906,328 |
Unam-Usa San Antonio, TX | $1,629,192 | $3,843,088 |
Center For Venture Education Inc Austin, TX | $106,820,676 | $4,487,131 |
Commonwealth Institute Of Funeral Service Houston, TX | $8,054,395 | $3,674,462 |
Lion Athletic Association Hammond, LA | $2,289,919 | $1,876,980 |
Delta Campus Facilities Corporation Monroe, LA | $25,919,156 | $3,154,481 |
International A L E R T Academy Big Sandy, TX | $844,337 | $1,167,358 |
Victoria College Foundation Inc Victoria, TX | $20,046,408 | $4,182,138 |
Louisiana Baptist University Shreveport, LA | $3,274,733 | $698,291 |
Education Alternatives Inc Fort Worth, TX | $649,007 | $757,814 |
Pawnee Nation College Pawnee, OK | $252,304 | $705,215 |