Vernon Regional Junior College Foundation Inc is located in Vernon, TX. The organization was established in 1986. 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. Vernon Regional Junior 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, Vernon Regional Junior College Foundation Inc generated $675.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $405.6k during the year ending 08/2022. 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
THE VERNON COLLEGE FOUNDATION, INCORPORATED OPERATES TO PROVIDE FUNDING FOR SCHOLARSHIPS TO STUDENTS AND OTHER GRANTS TO VERNON COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES GRANTS TO VERNON COLLEGE FOR STUDENT SCHOLARSHIPS AND DEPARTMENTAL GRANTS. IN THE CURRENT YEAR THE FOUNDATION PROVIDED $380,609 OF SCHOLARHIP FUNDING AND $51 OF DEPARTMENTAL GRANTS TO THE COLLEGE.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Ms Michelle A Alexander Exective Director | Officer | 20 | $0 |
Ms Mindi Flynn Financial Officer | Officer | 5 | $0 |
Dusty R Johnston President | Officer | 1 | $0 |
Mrs Joni Streit Vice-Chairperson | Trustee | 2 | $0 |
Mrs Helen Willingham Chairperson | Trustee | 2 | $0 |
Ms Sara Jane Snell Secretary-Treasurer | Trustee | 2 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $11,595 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $306,391 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $317,986 |
Total Program Service Revenue | $0 |
Investment income | $347,546 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $6,500 |
Net Income from Fundraising Events | $3,175 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $675,207 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $380,660 |
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 | $775 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $21,309 |
Fees for services: Other | $634 |
Advertising and promotion | $0 |
Office expenses | $360 |
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 | $1,816 |
All other expenses | $0 |
Total functional expenses | $405,554 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $191,641 |
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 | $4,985,957 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $5,177,598 |
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 | $0 |
Total liabilities | $0 |
Net assets without donor restrictions | $135,572 |
Net assets with donor restrictions | $5,042,026 |
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 | $5,177,598 |
Over the last fiscal year, we have identified 1 grants that Vernon Regional Junior College Foundation Inc has recieved totaling $6,000.
Awarding Organization | Amount |
---|---|
Wichita Falls Area Community Foundation Wichita Falls, TX PURPOSE: Education | $6,000 |
Beg. Balance | $4,776,351 |
Net Contributions | $265,675 |
Ending Balance | $5,042,026 |
Organization Name | Assets | Revenue |
---|---|---|
University Of Arkansas Foundation Inc Fayetteville, AR | $2,089,992,333 | $297,590,096 |
Texas A & M Research Foundation College Station, TX | $17,651,760 | $64,742,890 |
Tiger Athletic Foundation Baton Rouge, LA | $492,455,521 | $67,955,012 |
Vanguard Academy Pharr, TX | $58,411,993 | $65,696,988 |
Southwestern Medical Foundation Dallas, TX | $1,318,497,986 | $133,001,887 |
Unm Rainforest Innovations Albuquerque, NM | $22,586,721 | $58,002,418 |
University Of New Mexico Foundation Incorporated Albuquerque, NM | $270,142,035 | $53,815,950 |
University Of Texas Foundation Austin, TX | $88,879,484 | $47,692,096 |
L S U Foundation Baton Rouge, LA | $804,249,383 | $72,730,367 |
Southeastern Louisiana Area Health Education Center Natalbany, LA | $8,364,528 | $32,019,241 |
University Of Arkansas Fayetteville Campus Foundation Inc Fayetteville, AR | $748,157,500 | $15,686,060 |
Razorback Foundation Inc Fayetteville, AR | $72,537,377 | $26,130,749 |