Pikes Peak State College Foundation Inc
- Assets
- $4.9m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Colorado Springs, CO
- Founding
- 07/1981
- Data as of
- 06/2022
- EIN
- 74-2182257
Organization Overview
Pikes Peak State College Foundation Inc is located in Colorado Springs, CO. The organization was established in 1981. 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. Pikes Peak State 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, Pikes Peak State College Foundation Inc generated $1.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $2.0m 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
TO RECEIVE, INVEST AND ADMINISTER PROPERTY FOR THE BENEFIT OF PIKES PEAK STATE COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RECOGNIZING THAT HIGHER EDUCATION IS PROVEN TO BE A HIGHLY EFFECTIVE PATHWAY FROM POVERTY TO ECONOMIC SELF-SUFFICIENCY AND CIVIC PARTICIPATION, THE PPSC FOUNDATION SCHOLARSHIP PROGRAM IS DESIGNED TO PROVIDE MEANINGFUL AND SUSTAINABLE FINANCIAL SUPPORT TO LOW INCOME AND FIRST-GENERATION STUDENTS. THE FOUNDATION INCREASED SCHOLARSHIP AWARDS BY 50% TO PROVIDE ADDITIONAL FINANCIAL SUPPORT FOR VULNERABLE POPULATIONS OF STUDENTS. THE MAJORITY OF FOUNDATION SCHOLARSHIPS ARE DONOR-DESIGNATED TO FUND STUDENTS WHO ARE COMMITTED TO COMPLETION OF A CAREER-ORIENTED DEGREE OR CERTIFICATE PROGRAM. SCHOLARSHIPS ARE INTENTIONALLY AWARDED TO SUPPORT ENROLLMENT, RETENTION, AND GRADUATION FROM PPSC. SCHOLARSHIP STUDENTS RECEIVE HANDS-ON COACHING AND WRAP - AROUND SUPPORT SERVICES TO HELP THEM SUCCEED AND RESEARCH SHOWS A DRAMATIC INCREASE IN THE PERCENTAGE OF SCHOLARSHIP STUDENTS WHO GRADUATE, TRANSFER, OR STAY IN COLLEGE, PROVIDING A VERY HIGH RATE OF RETURN ON PHILANTHROPIC INVESTMENT.
THE PIKES PEAK STATE COLLEGE FOUNDATION IS THE PHILANTHROPIC ARM OF PPCC AND, AS SUCH, RAISES FUNDS FOR STRATEGIC COLLEGE INITATIVES. INCLUDED IN THE 2022 OPERATIONS ARE EQUIPMENT PURCHASES FOR THE CENTER FOR HEALTHCARE EDUCATION AND SIMULATION, A NEW CAMPUS DEDICATED TO INCREASE THE NUMBER OF GRADUATES IN HEALTHCARE PROGRAMS SUCH AS NURSING, MEDICAL ASSISTANTS, AND PHARMACY AND DENTISTRY TECHNICIANS. THESE GRADUATES ARE IN HIGH DEMAND FOR THE PIKES PEAK REGION, A CRITICAL COMPONENT OF PLANS TO ADDRESS DEVASTATING HEALTHCARE WORKFORCE SHORTAGES IN THIS REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Danielle Summerville Director | Trustee | 1 | $0 |
Dr Kenya Lee Chairman | OfficerTrustee | 2 | $0 |
Martha Barton Director | Trustee | 1 | $0 |
Michael Schroeder Treasurer | OfficerTrustee | 2 | $0 |
Murray Weiner Director | Trustee | 1 | $0 |
Stephanie Edwards Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $645,411 |
| All other contributions, gifts, grants, and similar amounts not included above | $760,524 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,405,935 |
| Total Program Service Revenue | $0 |
| Investment income | $104,927 |
| 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 | $1,510,862 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $461,044 |
| Grants and other assistance to domestic individuals. | $1,203,614 |
| 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 | $34,024 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,360 |
| Office expenses | $959 |
| Information technology | $16,302 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,118 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,826 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,915 |
| All other expenses | $0 |
| Total functional expenses | $2,025,128 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $168,812 |
| Savings and temporary cash investments | $898,982 |
| Pledges and grants receivable | $475,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $251,688 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,154,823 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,949,305 |
| Accounts payable and accrued expenses | $344,494 |
| Grants payable | $0 |
| Deferred revenue | $504,782 |
| 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 | $849,276 |
| Net assets without donor restrictions | -$343,786 |
| Net assets with donor restrictions | $4,443,815 |
| 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 | $4,949,305 |
Grants Awarded
Over the last fiscal year, Pikes Peak State College Foundation Inc has awarded $461,044 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PIKES PEAK COMMUNITY COLLEGE PURPOSE: USE IN DAILY OPERATIONS | $454,644 |
PIKES PEAK COMMUNITY COLLEGE PURPOSE: TEACHING IN USE IN DAILY OPERATIONS | $6,400 |