South Plains College Foundation
- Assets
- $38.3m
- Revenue
- $7.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Levelland, TX
- Founding
- 12/1979
- Data as of
- 08/2024
- EIN
- 75-1665618
Organization Overview
South Plains College Foundation is located in Levelland, TX. The organization was established in 1979. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. South Plains 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 08/2024, South Plains College Foundation generated $7.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $2.5m during the year ending 08/2024. While expenses have increased by 12.7% 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.
Since 2015, South Plains College Foundation has awarded 18 individual grants totaling $34,111,262. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
SECURE AND ADMINISTER FUNDS FOR STUDENT FINANCIAL ASSISTANCE IN THE FORM OF SCHOLARSHIPS AND GRANTS-IN-AID AND FOR GRANTS AND FINANCIAL SUPPORT THAT ADVANCES AND ENRICHES THE EDUCATIONAL PROGRAM OF SOUTH PLAINS COLLEGE, LEVELLAND, TEXAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SCHOLARSHIPS TO STUDENTS BASED UPON THEIR SCHOLASTIC ACHIEVEMENTS AND/OR FINANCIAL NEEDS IN ACCORDANCE TO CRITERIA DETERMINED BY DONORS AND/OR SOUTH PLAINS COLLEGE.
PROVIDE EDUCATIONAL PROGRAM SUPPORT TO SOUTH PLAINS COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Gerstenberger Executive Dir. | Trustee | 0 | $0 |
Doug Hoelscher Director | Trustee | 0 | $0 |
Christy Hartin Director | Trustee | 0 | $0 |
Mike Box Director | Trustee | 0 | $0 |
Cory Newsom Director | Trustee | 0 | $0 |
Dallas Pena Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $224,229 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,818,131 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,042,360 |
| Total Program Service Revenue | $0 |
| Investment income | $662,834 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,675,245 |
| Net Income from Fundraising Events | -$23,960 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,356,479 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,380,789 |
| 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 | $3,910 |
| 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 | $1,895 |
| Total functional expenses | $2,494,155 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $216,804 |
| Savings and temporary cash investments | $688,023 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $34,270,291 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,169,906 |
| Total assets | $38,345,024 |
| Accounts payable and accrued expenses | $0 |
| 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 | $2,925,927 |
| Total liabilities | $2,925,927 |
| Net assets without donor restrictions | $316,551 |
| Net assets with donor restrictions | $35,102,546 |
| 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 | $38,345,024 |
Grants Awarded
Over the last fiscal year, South Plains College Foundation has awarded $2,380,789 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SOUTH PLAINS COLLEGE PURPOSE: PROVIDE PROGRAM SUPPORT | $1,185,000 |
SOUTH PLAINS COLLEGE - SCHOLARSHIP FUND PURPOSE: PROVIDE SCHOLARSHIPS TO STUDENTS | $1,195,789 |