Form 990 for tax year 2022
Filed by MOUNTAIN GATEWAY COMMUNITY COLLEGE REAL ESTATE FOUNDATION.
Totals
- Total revenue
- $460,380
- Total expenses
- $18,498
- Contributions and grants received
- $459,896
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $484
- Other revenue
- $0
- Total assets, end of year
- $1,394,945
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $1,394,945
- Program services expenses (Part IX)
- $9,369
- Management and general expenses
- $9,129
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $9,369
Program services were 50.6% 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.
-
1e · Government grants (contributions)
$90,000
-
1f · All other contributions, gifts and grants
$369,896
-
1g · Noncash contributions included above
$14,476
-
3 · Investment income
total $484 · excluded $484
Functional expenses
Part IX, the statement of functional expenses.
-
11b · Fees: legal
total $956 · management and general $956
-
11c · Fees: accounting
total $7,350 · management and general $7,350
-
13 · Office expenses
total $823 · management and general $823
-
23 · Insurance
total $2,696 · program services $2,696
-
24a · Other expenses: TAXES & LICENSES
total $4,148 · program services $4,148
-
24b · Other expenses: UTILITIES & PROP MAINT
total $2,240 · program services $2,240
-
24c · Other expenses: MEALS
total $285 · program services $285
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $43,828 · end of year $404,327
-
3 · Pledges and grants receivable
end of year $47,000
-
15 · Other assets
beginning of year $909,235 · end of year $943,618
-
27 · Net assets without donor restrictions
beginning of year $909,869 · end of year $927,857
-
28 · Net assets with donor restrictions
beginning of year $43,194 · end of year $467,088
Mission and programs · 2022
Mission
TO SUPPORT MOUNTAIN GATEWAY COMMUNITY COLLEGE BY PURCHASING AND DEVELOPING PROPERTIES THAT WILL BE USED BY THE COLLEGE FOR CLASSROOM SPACES AND TRAINING CENTERS.
-
PURCHASE PROPERTIES IN BUENA VISTA, VA AND RENOVATE THEM IN ORDER TO CREATE A WORKFORCE CENTER THAT MOUNTAIN GATEWAY COMMUNITY COLLEGE CAN USE TO DELIVER IN-DEMAND TRAINING FOR ADVANCED MANUFACTURING, MACHINING, WELDING, HVAC AND DIESEL MECHANICS.
Expenses $9,369
As filed on the 2022 return.
Listed in Part VII
-
John J RainoneJOHN J RAINONE
SECRETARY
- Total calculated
- $212,000
- From this org
- $0
- From related orgs
- $212,000
- Other
- $0
- Hours/week
- 5 + 40 related
Schedule J breakdown matched by us
- Base
- not reported + $170,000 related
- Bonus
- not reported
- Other
- not reported + $42,000 related
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- not reported + $212,000 related
-
Michelle AustinMICHELLE AUSTIN
PUBLIC DIREC
- Total calculated
- $0
- Hours/week
- 2
-
Angela D GrahamANGELA D GRAHAM
TREASURER
- Total calculated
- $0
- Hours/week
- 5 + 40 related
-
Janie HarrisJANIE HARRIS
PUBLIC DIREC
- Total calculated
- $0
- Hours/week
- 2
-
K Kyle KeyserK KYLE KEYSER
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Tony McFaddinTONY MCFADDIN
PUBLIC DIREC
- Total calculated
- $0
- Hours/week
- 2
-
Amy PhillipsAMY PHILLIPS
EX-OFFICIO
- Total calculated
- $0
- Hours/week
- 2
-
John StoneJOHN STONE
EX-OFFICIO
- Total calculated
- $0
- Hours/week
- 2
-
Donna P VaughnDONNA P VAUGHN
PUBLIC DIREC
- Total calculated
- $0
- Hours/week
- 2
-
Steve VaughnSTEVE VAUGHN
PUBLIC DIREC
- Total calculated
- $0
- Hours/week
- 2
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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
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.
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MOUNTAIN GATEWAY COMMUNITY COLLEGE
115 · VA
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 5 February 2024
- IRS schema version
- 2022v5.0
- Source object
- 202400639349300600
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