Temple College Foundation
- Assets
- $13.7m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Temple, TX
- Founding
- 08/1983
- Data as of
- 08/2023
- EIN
- 74-2257300
Organization Overview
Temple College Foundation is located in Temple, TX. The organization was established in 1983. 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. Temple College 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 08/2023, Temple College Foundation generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 29.5% each year . All expenses for the organization totaled $551.8k during the year ending 08/2023. 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
TO STRENGTHEN AND CONTRIBUTE TO THE ACADEMIC AND PHYSICAL GROWTH OF TEMPLE COLLEGE BY PROVIDING A MEANS OF RECEIVING AND ADMINISTERING GIFTS ON BEHALF OF THE COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS AND OTHER SUPPORT TO STUDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tyler Jermstad President | OfficerTrustee | 4 | $0 |
Christine Parks Vice President | OfficerTrustee | 4 | $0 |
Tanner Johnson Treasurer | OfficerTrustee | 4 | $0 |
Beverly Luedke Secretary | OfficerTrustee | 4 | $0 |
Jerry Haisler Director | Trustee | 1 | $0 |
Bennie Walsh Director | Trustee | 1 | $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 | $332,614 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $332,614 |
| Total Program Service Revenue | $0 |
| Investment income | $271,324 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $810,749 |
| Net Gain/Loss on Asset Sales | $138,359 |
| Net Income from Fundraising Events | $121,865 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,690,736 |
| 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. | $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 | $64,821 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| All other expenses | $486,987 |
| Total functional expenses | $551,808 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,604,064 |
| Savings and temporary cash investments | $7,863,587 |
| Pledges and grants receivable | $7,508 |
| Accounts receivable, net | $65,938 |
| 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 | $62,427 |
| Net Land, buildings, and equipment | $3,872,533 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $234,582 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,710,639 |
| Accounts payable and accrued expenses | $560,631 |
| Grants payable | $0 |
| Deferred revenue | $64,325 |
| Tax-exempt bond liabilities | $8,695,000 |
| 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 | $9,381,410 |
| Total liabilities | $18,701,366 |
| Net assets without donor restrictions | -$13,548,049 |
| Net assets with donor restrictions | $8,557,322 |
| 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 | $13,710,639 |