Peninsula College Foundation
- Assets
- $6.9m
- Revenue
- $1.4m
- Investments
- $4.9m
- Employees
- 0
- Location
- Port Angeles, WA
- Founding
- 12/2000
- Data as of
- 06/2022
- EIN
- 91-1589749
Organization Overview
Peninsula College Foundation is located in Port Angeles, WA. The organization was established in 2000. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Peninsula 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 06/2022, Peninsula College Foundation generated $1.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (26.5%) each year. All expenses for the organization totaled $854.8k during the year ending 06/2022. 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
CREATING ACCESS, EXCELLENCE AND SUCCESS FOR THE PENINSULA COLLEGE COMMUNITY BY PROVIDING FUNDS FOR STUDENTS AND PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PENINSULA COLLEGE FOUNDATION MANAGES 22 ENDOWMENT FUNDS AND 118 RESTRICTED FUNDS FOR SCHOLARSHIPS AND PROGRAMS. IN 2021-22, 683 INDIVIDUAL STUDENT AWARDS WERE MADE, RANGING FROM PUBLIC TRANSIT PASSES AND BOOKS TO FULL-RIDE SCHOLARSHIPS. 67 LAPTOPS WERE PURCHASED TO CREATE A LAPTOP LOAN LIBRARY TO PROVIDE ESSENTIAL TECHNOLOGY FOR TRANSITIONAL STUDIES (FORMERLY BASIC EDUCATION) STUDENTS. 42 STUDENTS MADE USE OF THIS PROGRAM. FEDERAL AND STATE PANDEMIC RELIEF FUNDS PROVIDED EMERGENCY AID FOR STUDENTS, AS DID THE FOUNDATION. COLLABORATIONS WITH UNITED WAY, LOCAL HEALTHCARE PROVIDERS, AND CLALLAM PROMISE SCHOLARSHIP PARTNERS, AMONG OTHERS, RESULTED IN A BROADER SHARED VISION OF STUDENT SUPPORTS TO MEET OUR COMMUNITY'S WORKFORCE NEEDS. MONETARY AND IN-KIND DONATIONS OF EQUIPMENT, SUPPLIES AND MATERIALS TO THE FOUNDATION IMPACT NEARLY EVERY PROGRAM AT PENINSULA COLLEGE.
AWARDS FOR STUDENTS AND PROGRAMS COME FROM ENDOWMENT EARNINGS AND DONOR/PARTNER GIVING. FACULTY AND PROGRAM GRANTS MADE BY THE FOUNDATION ALIGN WITH THE COLLEGE'S STRATEGIC GOALS. THIS YEAR'S GRANTS SUPPORTED THE HUMANITIES DIVISION, FACULTY RESEARCH AND PROFESSIONAL DEVELOPMENT, AND SPECIFIC STUDENT NEED AREAS INCLUDING TRANSITIONAL STUDIES, STUDENT DEBT RELIEF, AND NEWLY ENROLLED PROF/TECH STUDENTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Cunningham President | OfficerTrustee | 2 | $0 |
Jeanne Martin Co-Treasurer | OfficerTrustee | 2 | $0 |
Ray Gruver Co-Treasurer | OfficerTrustee | 2 | $0 |
Getta Workman Executive Director | Officer | 40 | $0 |
Paul Pitkin Past Executive Director | Officer | 40 | $0 |
Dave Neupert Board Member | Trustee | 0.5 | $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 | $1,200,411 |
| Noncash contributions included in lines 1a–1f | $228,226 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,200,411 |
| Total Program Service Revenue | $0 |
| Investment income | $278,664 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$30,004 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,449,071 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $527,715 |
| 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 | $60,595 |
| 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 | $6,425 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $237 |
| Advertising and promotion | $0 |
| Office expenses | $297 |
| 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 | $2,441 |
| All other expenses | $0 |
| Total functional expenses | $854,839 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,670,347 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $171,921 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $102,974 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,947,151 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,892,393 |
| Accounts payable and accrued expenses | $175,134 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $407,054 |
| 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 | $582,188 |
| Net assets without donor restrictions | $183,927 |
| Net assets with donor restrictions | $6,126,278 |
| 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 | $6,892,393 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Peninsula College Foundation has recieved totaling $42,500.
| Awarding Organization | Amount |
|---|---|
Lloyd J Allen Charitable Tr Tumwater, WA PURPOSE: SCHOLARSHIP AND GRANTS | $42,500 |
Endowment Analysis
| Beg. Balance | $5,386,291 |
| Earnings | -$912,176 |
| Net Contributions | $140,681 |
| Grants | $137,609 |
| Ending Balance | $4,477,187 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nike Foundation Beaverton, OR | $18,150,265 | $37,684,992 |
Neighborhood Partnerships Inc Portland, OR | $30,268,238 | $16,325,065 |
Philanthropy Northwest Seattle, WA | $9,442,103 | $7,893,544 |
Names Family Foundation Fircrest, WA | $140,493,292 | $4,553,326 |
Spokane Housing Ventures Spokane, WA | $41,846,446 | $7,474,764 |
Wesley Homes Foundation A Supporting Organization Des Moines, WA | $19,577,190 | $4,930,467 |
Consumer Voices Are Born Vancouver, WA | $1,434,971 | $3,293,379 |
Fish Ellensburg, WA | $3,698,785 | $3,084,474 |
Washington Alliance For Better Schools Shoreline, WA | $1,940,818 | $2,998,308 |
The Big Table Spokane, WA | $1,821,541 | $2,378,670 |
Pullman Regional Hospital Foundation Pullman, WA | $4,880,325 | $3,359,569 |
Bob Belloni Ranch Inc Coos Bay, OR | $1,344,837 | $2,224,327 |