Odessa College Foundation Incorporated
- Assets
- $24.1m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Odessa, TX
- Founding
- 04/1997
- Data as of
- 12/2023
- EIN
- 75-2655037
Organization Overview
Odessa College Foundation Incorporated is located in Odessa, TX. The organization was established in 1997. 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. Odessa College Foundation Incorporated 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 12/2023, Odessa College Foundation Incorporated generated $2.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $1.6m during the year ending 12/2023. While expenses have increased by 6.8% per year over the past 9 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 2014, Odessa College Foundation Incorporated has awarded 20 individual grants totaling $10,415,293. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ORGANIZATION IS THREE-FOLD: 1) TO SECURE DONATIONS FOR SCHOLARSHIP ASSISTANCE THROUGH THE ANNUAL CAMPAIGN AND LEAVE-A-LEGACY CAMPAIGN; 2) TO SECURE DONATIONS TO THE COLLEGE THAT FOSTER THE CONTINUATION AND DEVELOPMENT OF PROJECTS AND TRAINING PROGRAMS; 3) TO UNIFY THE COMMUNITY IN PROMOTING PHILANTHROPY FOR HIGHER EDUCATION AT ODESSA COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SOLICITS DONATIONS FROM BUSINESSES AND INDIVIDUALS TO FUND SCHOLARSHIPS FOR ODESSA COLLEGE STUDENTS. THERE WERE 1,405 SCHOLARSHIP RECIPIENTS FOR 2023.
THE FOUNDATION SOLICITS DONATIONS FROM BUSINESSES AND INDIVIDUALS TO FUND CAPITAL PROJECTS FOR ODESSA COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jacquilyn Gore Vice President For Institutional Advancement | OfficerTrustee | 20 | $0 |
Audrey Deleon Grants Cordinator - Partial Year | OfficerTrustee | 10 | $0 |
Brandy Ham Chief Financial Officer | OfficerTrustee | 10 | $0 |
Shem Culpepper President | OfficerTrustee | 0 | $0 |
Jeff Adams Director | Trustee | 0 | $0 |
Aracely Chavez Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $154,460 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,533,705 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,688,165 |
| Total Program Service Revenue | $0 |
| Investment income | $558,284 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $327,510 |
| Net Income from Fundraising Events | $47,941 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,621,900 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,492,693 |
| 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 | $19,590 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $101,951 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $6,545 |
| 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 | $0 |
| Total functional expenses | $1,642,620 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,942,111 |
| Savings and temporary cash investments | $203,536 |
| 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 | $21,970,277 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $24,115,924 |
| Accounts payable and accrued expenses | $371,779 |
| 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 | $371,779 |
| Net assets without donor restrictions | $1,608,076 |
| Net assets with donor restrictions | $22,136,069 |
| 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 | $24,115,924 |
Grants Awarded
Over the last fiscal year, Odessa College Foundation Incorporated has awarded $1,492,693 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ODESSA COLLEGE PURPOSE: SCHOLARSHIPS | $788,817 |
ODESSA COLLEGE PURPOSE: CAPITAL PROJECTS | $703,876 |