Form 990 for tax year 2024
Filed by WALLACE STATE COMMUNITY COLLEGE FUTURE FOUNDATION INC.
Totals
- Total revenue
- $1,564,917
- Total expenses
- $979,859
- Contributions and grants received
- $1,248,911
- Grants paid
- $627,247
- Program service revenue
- $0
- Investment income
- $322,941
- Other revenue
- -$6,935
- Total assets, end of year
- $9,046,061
- Total liabilities, end of year
- $3,167
- Net assets or fund balances, end of year
- $9,042,894
- Program services expenses (Part IX)
- $877,724
- Management and general expenses
- $102,135
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $877,724
Program services were 89.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1b · Membership dues
$4,705
-
1c · Fundraising events
$205,193
-
1f · All other contributions, gifts and grants
$1,039,013
-
1g · Noncash contributions included above
$40,859
-
3 · Investment income
total $311,862 · excluded $311,862
-
7a · Gross sales of assets other than inventory
securities $41,873
-
7b · Less cost or other basis and sales expenses
securities $30,794
-
7c · Gain or loss
securities $11,079
-
7d · Net gain or loss
total $11,079 · excluded $11,079
-
8a · Fundraising events: gross income
$0
-
8a · Fundraising events: contributions included on line 1c
$205,193
-
8b · Fundraising events: direct expenses
$6,935
-
8c · Net income from fundraising events
total -$6,935 · excluded -$6,935
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $627,247 · program services $627,247
-
11c · Fees: accounting
total $13,325 · program services $6,663 · management and general $6,662
-
11f · Fees: investment management
total $36,352 · management and general $36,352
-
13 · Office expenses
total $710 · program services $426 · management and general $284
-
19 · Conferences, conventions and meetings
total $521 · program services $521
-
23 · Insurance
total $1,328 · management and general $1,328
-
24a · Other expenses: ALUMNI EXPENSE
total $174,065 · program services $174,065
-
24b · Other expenses: SPECIAL PROJECT AND EVE
total $62,764 · program services $50,211 · management and general $12,553
-
24c · Other expenses: MISCELLANEOUS EXPENSES
total $46,577 · program services $8,423 · management and general $38,154
-
24d · Other expenses: COMMUNITY OUTREACH AND
total $8,510 · program services $5,957 · management and general $2,553
-
24e · All other expenses
total $8,460 · program services $4,211 · management and general $4,249
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $253,446 · end of year $271,827
-
2 · Savings and temporary cash investments
beginning of year $7,305,939 · end of year $8,228,688
-
3 · Pledges and grants receivable
beginning of year $482,415 · end of year $410,736
-
9 · Prepaid expenses and deferred charges
beginning of year $8,454 · end of year $9,810
-
15 · Other assets
beginning of year $125,000 · end of year $125,000
-
17 · Accounts payable and accrued expenses
end of year $3,167
-
27 · Net assets without donor restrictions
beginning of year $192,274 · end of year $190,133
-
28 · Net assets with donor restrictions
beginning of year $7,982,980 · end of year $8,852,761
Mission and programs · 2024
Mission
THE FOUNDATION IS A NOT-FOR-PROFIT CORPORATION THAT ASSISTS WALLACE STATE COMMUNITY COLLEGE, A PUBLIC INSTITUTION OF HIGHER EDUCATION, IN FULFILLING AND PERFORMING ITS EDUCATIONAL PURPOSES
Activities or mission (Part I)
TO BENEFIT THE EDUCATIONAL OBJECTIVES OF WALLACE STATE COMMUNITY COLLEGE
-
THE ORGANIZATION HAS ADVANCED THE EDUCATIONAL OBJECTIVES OF THE COLLEGE THROUGH THE SUBSIDATION OF STUDENTS AND FACULTY BY PROVIDING SCHOLARSHIPS, STIPENDS, AND MINI-GRANTS FOR EDUCATIONALLY-RELATED PROJECTS
Expenses $877,724 · Grants $627,247
As filed on the 2024 return.
Listed in Part VII
-
AMY SHELTON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
BEN HARRISON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
BETTY LEETH HAYNES
EMERITUS
- Total calculated
- $0
- Hours/week
- 1
-
BILLY JACKSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
DALE GREER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
FRED CESPEDES
EMERITUS
- Total calculated
- $0
- Hours/week
- 1
-
JAMIE HENDRICKS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
JIM DAVIS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
JOHN RILEY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
KELA LEPRE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
LISA MCSWAIN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
RETHA TINNEY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
RICHARD PHILLIPS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
SETH HOOPER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
TOMESA SMITH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
VICKI KAROLEWICS
EX-OFFICIO
- Total calculated
- $0
- Hours/week
- 1
-
DONNA GUTHRIE
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
MATTHEW LANEY
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
SHIRLEY QUATTLEBAUM
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
WALLACE STATE COMMUNITY COLLEGE
EDUCATION · AL
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 14 May 2026
- IRS schema version
- 2024v5.5
- Source object
- 202601359349302165
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