Form 990 for tax year 2023
Filed by SOUTH CAROLINA TECHNICAL COLLEGE SYSTEM FOUNDATION.
Totals
- Total revenue
- $628,161
- Total expenses
- $416,775
- Contributions and grants received
- $598,650
- Grants paid
- $71,000
- Program service revenue
- $0
- Investment income
- $29,511
- Other revenue
- $0
- Total assets, end of year
- $858,754
- Total liabilities, end of year
- $12,518
- Net assets or fund balances, end of year
- $846,236
- Program services expenses (Part IX)
- $324,760
- Management and general expenses
- $89,714
- Fundraising expenses
- $2,301
- Program service expenses (Part III)
- $324,760
Program services were 77.9% 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.
-
1d · Related organizations
$3,000
-
1e · Government grants (contributions)
$45,000
-
1f · All other contributions, gifts and grants
$550,650
-
3 · Investment income
total $27,952 · related or exempt $27,952
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
securities $1,559
-
7c · Gain or loss
securities $1,559
-
7d · Net gain or loss
total $1,559 · related or exempt $1,559
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $60,000 · program services $60,000
-
2 · Grants to domestic individuals
total $11,000 · program services $11,000
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $287,028 · program services $234,491 · management and general $50,236 · fundraising $2,301
-
11b · Fees: legal
total $12,205 · management and general $12,205
-
11c · Fees: accounting
total $8,077 · management and general $8,077
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $5,113 · management and general $5,113
-
11g · Fees: other
total $6,000 · management and general $6,000
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $0
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $2,000 · program services $2,000
-
17 · Travel
total $1,834 · program services $1,072 · management and general $762
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $52 · management and general $52
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $1,062 · management and general $1,062
-
24a · Other expenses: Stipends
total $9,099 · program services $9,099
-
24b · Other expenses: Supplies
total $7,938 · program services $7,098 · management and general $840
-
24c · Other expenses: Other Expenses
total $5,367 · management and general $5,367
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $80,297 · end of year $435,226
-
2 · Savings and temporary cash investments
end of year $0
-
3 · Pledges and grants receivable
beginning of year $50,000 · end of year $5,486
-
4 · Accounts receivable
end of year $0
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
end of year $0
-
10c · Land, buildings and equipment, net
end of year $0
-
11 · Investments: publicly traded securities
beginning of year $485,076 · end of year $418,042
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
end of year $0
-
17 · Accounts payable and accrued expenses
end of year $5,339
-
18 · Grants payable
end of year $7,179
-
27 · Net assets without donor restrictions
beginning of year $452,914 · end of year $380,611
-
28 · Net assets with donor restrictions
beginning of year $162,459 · end of year $465,625
Mission and programs · 2023
Mission
THE MISSION OF THE FOUNDATION IS TO BE A SUPPORTING ORGANIZATION OF THE SOUTH CAROLINA TECHNICAL COLLEGE SYSTEM (THE "SYSTEM"). THE FOUNDATION FOSTERS ENDURING RELATIONSHIPS THAT BUILD ADVOCACY AND SUPPORT FOR THE SYSTEM AND THE SIXTEEN (16) TECHNICAL COLLEGES ASSOCIATED THEREWITH, TO ENSURE AND PROMOTE EDUCATIONAL EXCELLENCE. THE FOUNDATION SUPPORTS THE SOUTH CAROLINA TECHNICAL COLLEGE SYSTEM'S EFFORTS TO PROVIDE HIGH-QUALITY, RELEVANT, AND EFFECTIVE PROGRAMS TO PROMOTE ECONOMIC AND WORKFORCE DEVELOPMENT WITHIN THE STATE.
Activities or mission (Part I)
THE FOUNDATION RESOURCES, DEVELOPS, AND INCUBATES SOLUTIONS TO STRENGTHEN THE STATE'S WORKFORCE THROUGH A VARIETY OF ACTIVITIES. IT ENGAGES WITH THE SYSTEM AND ITS INDIVIDUAL TECHNICAL COLLEGES STATEWIDE TO DEVELOP ACCESSIBLE, AFFORABLE PROGRAMMING TO SERVE URBAN, SUBURBAN, AND RURAL COMMUNITIES ACROSS SOUTH CAROLINA; CONNECT EMPLOYERS TO TESTED, INNOVATIVE TALENT DEVELOPMENT APPROACHES TO FILING IN-DEMAND, HIGH-SKILLED JOBS IN A DYNAMIC ECONOMY; AND ACHIEVE OUTCOMES THE SYSTEM MAY NOT OTHERWISE ACCOMPLISH ON ITS OWN. THE FOUNDATION IDENTIFIES OPPORTUNITIES TO EQUIP SOUTH CAROLINA WORKERS WITH THE TOOLS TO BE SKILLED LEARDERS OF NEW AND EXISTING INDUSTRIES AND EXPAND SOUTH CAROLINA'S EMPLOYMENT ECOSYSTEM. THE FOUDNATION HARNESSES PRIVATE RESOURCES TO BOLSTER THE ASSETS OF THE STATE'S LARGEST HIGHER EDUCATION SYSTEM AND DRIVES INNOVATION TO SUPPORT THE WORKFORCE OF TODAY AND TOMORROW.
-
CREATE OPPORTUNITY IS AN INITIATIVE OF THE FOUNDATION THAT INCREASES THE SUPPLY OF HIGH-DEMAND SOFTWARE ENGINEERS THROUGH A SCREENING, TRAINING AND APPRENTICESHIP MODEL DESIGNED FOR INDIVIDUALS FROM DIVERSE, NON-TECHNICAL BACKGROUNDS. THE FOUNDATION HAS DEVELOPED A UNIQUE, HIGH-IMPACT CURRICULUM THAT YIELDS DIFFERENTIATED RESULTS. TO DATE, 100% OF THE FOUNDATION'S APPRENTICES HAVE BEEN PLACED AT A MEDIAN SALARY IN EXCESS OF $50,000 PER YEAR WITH HEALTH INSURANCE AND RETIREMENT BENEFITS.CREATE OPPORTUNITY'S PROGRAM HAS BEEN DEVELOPED IN PARTNERSHIP WITH SOUTH CAROLINA'S TECHNICAL COLLEGE SYSTEM, AND CONSISTS OF CURRICULUM DEVELOPOMENT, SOFT SKILLS AND LIFE COUNSELING, FINANCIAL SUPPORT AND PARTNERSHIPS TO ENSURE LONG-TERM SUCCESS.CURRENT INDICATORS OF SUCCESS INCLUDE:1. STUDENT ENROLLMENT AND COMPLETION RATES - GRADUATION RATE HAS IMPROVED WITH EVERY COHORT FOR 2.5 YEARS. COMPLETION RATE = 61%;2. Job placement/retention rates - % of graduates employed in their field within 6 months of graduation = 100%, graduates who remain employed after 1 year = 92%;3. Skills proficiency - regular testing to measure proficiency in key technical skills;4. Program efficiency - regular feedback from instructors to asses curriculum effectiveness and student progress; and5. Income improvement - average participant income increases 76% upon placement in first apprenticeship, potential earnings of $1.2 million over 20 years.
Expenses $264,760
-
Annually, the Foundation provides an amount applied for and disbursed to the South Carolina State Technical College System to support economic development and technical education.
Expenses $60,000 · Grants $60,000
As filed on the 2023 return.
Listed in Part VII
-
Mac Bennett
Interim CEO
- Total calculated
- $27,919
- From this org
- $27,919
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Ben RexBEN REX
Chairperson
- Total calculated
- $0
- Hours/week
- 2
-
John Ls SimpkinsJOHN LS SIMPKINS
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Katie BoganKATIE BOGAN
Treasurer
- Total calculated
- $0
- Hours/week
- 2
-
Edward Grantland BurnsEDWARD GRANTLAND BURNS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Warren DarbyWARREN DARBY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Sara FawcettSARA FAWCETT
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Matthew RichardsonMATTHEW RICHARDSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Dr Carolyn SwintonDR CAROLYN SWINTON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Dr Ershela SimsDR ERSHELA SIMS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Dr Tim HardeeDR TIM HARDEE
Ex Officio
- 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.
Grants on this return
-
SC TECHNICAL COLLEGE SYSTEM
$60,000
HERITAGE CAD LICENSE
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.
-
SC Technical College System
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202423209349301827
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