Clover Park Technical College Foundation
- Assets
- $3.2m
- Revenue
- $515.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Lakewood, WA
- Founding
- 01/1993
- Data as of
- 12/2023
- EIN
- 91-1565219
Organization Overview
Clover Park Technical College Foundation is located in Lakewood, WA. The organization was established in 1993. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clover Park Technical 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 12/2023, Clover Park Technical College Foundation generated $515.2k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $309.8k during the year ending 12/2023. 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
CPTC FOUNDATION ENSURES THE OPPORTUNITY FOR THE EDUCATION OF TOMORROW'S WORKFORCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SCHOLARSHIPS TO STUDENTS FOR TUITION, BOOKS AND SUPPLIES AS WELL AS STAFF AND FACULTY AWARDS FOR OUTSTANDING WORK AND COMMITMENT TO THEIR JOBS.
PROVIDE ASSISTANCE TO COLLEGE PROGRAMS THROUGH DONATED GOODS FOR ACADEMIC USE.
PROVIDE EMERGENCY GRANTS TO STUDENTS AT CLOVER PARK TECHNICAL COLLEGE FOR SHELTER, UTILITIES OR OTHER NEEDS THAT WILL ENABLE THE STUDENT TO CONTINUE THEIR EDUCATION.
PROVIDE ASSISTANCE TO COLLEGE PROGRAMS THROUGH EQUIPMENT DONATIONS TO ASSIST STUDENTS IN PRACTICAL TRAINING FOR THEIR VOCATION; PROVIDED CASH TO SPECIFIC PROGRAMS FOR SUPPLIES AND OTHER NEEDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Sternitzky Director | Trustee | 2 | $0 |
Kathryn Smith Director | Trustee | 2 | $0 |
Kris Shegrud Director | Trustee | 2 | $0 |
Lucas Holm Director | Trustee | 2 | $0 |
Harley Moberg Director | Trustee | 2 | $0 |
Amelia Grayson Ex Officio Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $115,313 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $374,096 |
| Noncash contributions included in lines 1a–1f | $120,878 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $489,409 |
| Total Program Service Revenue | $9,002 |
| Investment income | $55,195 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$17,571 |
| Net Income from Fundraising Events | -$20,805 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $515,230 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $113,489 |
| Grants and other assistance to domestic individuals. | $148,680 |
| 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 | $21,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,173 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $4,662 |
| 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 | $1,119 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,588 |
| All other expenses | $187 |
| Total functional expenses | $309,762 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $650,667 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,341 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $46,470 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,451,759 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,160,237 |
| 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 | $1,053,192 |
| Net assets with donor restrictions | $2,107,045 |
| 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 | $3,160,237 |
Grants Awarded
Over the last fiscal year, Clover Park Technical College Foundation has awarded $329,044 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CLOVER PARK TECHNICAL COLLEGE PURPOSE: To provide supplies for college programs | $72,871 |
CLOVER PARK TECHNICAL COLLEGE PURPOSE: To provide equipment for College programs | $254,127 |
CLOVER PARK TECHNICAL COLLEGE PURPOSE: To make technology upgrades to College equipment | $2,046 |