Form 990 for tax year 2022
Filed by HOLYOKE COMMUNITY COLLEGE FOUNDATION INC.
Totals
- Total revenue
- $9,505,597
- Total expenses
- $2,403,297
- Contributions and grants received
- $8,500,758
- Grants paid
- $1,530,587
- Program service revenue
- $0
- Investment income
- $825,313
- Other revenue
- $179,526
- Total assets, end of year
- $28,395,035
- Total liabilities, end of year
- $1,859,279
- Net assets or fund balances, end of year
- $26,535,756
- Program services expenses (Part IX)
- $2,131,535
- Management and general expenses
- $219,070
- Fundraising expenses
- $52,692
- Program service expenses (Part III)
- $2,131,535
Program services were 88.7% 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.
-
1f · All other contributions, gifts and grants
$8,500,758
-
1g · Noncash contributions included above
$5,217
-
3 · Investment income
total $422,535 · related or exempt $422,535
-
6a · Gross rents
real property $493,894
-
6b · Less rental expenses
real property $325,931
-
6c · Rental income or loss
real property $167,963
-
6d · Net rental income or loss
total $167,963 · related or exempt $167,963
-
7a · Gross sales of assets other than inventory
securities $3,092,758
-
7b · Less cost or other basis and sales expenses
securities $2,689,980
-
7c · Gain or loss
securities $402,778
-
7d · Net gain or loss
total $402,778 · related or exempt $402,778
-
8a · Fundraising events: gross income
$30,796
-
8b · Fundraising events: direct expenses
$19,233
-
8c · Net income from fundraising events
total $11,563 · excluded $11,563
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,280,497 · program services $1,280,497
-
2 · Grants to domestic individuals
total $250,090 · program services $250,090
-
11c · Fees: accounting
total $32,000 · management and general $32,000
-
11f · Fees: investment management
total $55,431 · management and general $55,431
-
11g · Fees: other
total $85,463 · management and general $85,463
-
13 · Office expenses
total $63,837 · program services $9,115 · management and general $2,030 · fundraising $52,692
-
14 · Information technology
total $44,146 · management and general $44,146
-
17 · Travel
total $3,842 · program services $3,842
-
19 · Conferences, conventions and meetings
total $482 · program services $482
-
22 · Depreciation, depletion and amortization
total $580,258 · program services $580,258
-
23 · Insurance
total $7,251 · program services $7,251
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $603,174 · end of year $478,924
-
3 · Pledges and grants receivable
beginning of year $74,313 · end of year $6,860,284
-
4 · Accounts receivable
beginning of year $42,799 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $32,340 · end of year $58,595
-
10a · Land, buildings and equipment: cost or other basis
$6,132,444
-
10b · Land, buildings and equipment: accumulated depreciation
$3,238,431
-
10c · Land, buildings and equipment, net
beginning of year $3,474,271 · end of year $2,894,013
-
11 · Investments: publicly traded securities
beginning of year $15,764,694 · end of year $17,086,361
-
15 · Other assets
end of year $1,016,858
-
17 · Accounts payable and accrued expenses
beginning of year $339,019 · end of year $39,475
-
19 · Deferred revenue
beginning of year $970,909 · end of year $786,924
-
25 · Other liabilities
beginning of year $0 · end of year $1,032,880
-
27 · Net assets without donor restrictions
beginning of year $3,758,979 · end of year $3,686,390
-
28 · Net assets with donor restrictions
beginning of year $14,922,684 · end of year $22,849,366
Mission and programs · 2022
Mission
SEE SCHEDULE OTHE HOLYOKE COMMUNITY COLLEGE FOUNDATION IS A CHARITABLE CORPORATION ORGANIZED UNDER THE LAWS OF THE COMMONWEALTH OF MASSACHUSETTS. THE FOUNDATION, WHICH IS FISCALLY AND LEGALLY SEPARATE FROM THE COLLEGE, EXISTS FOR THE SOLE PURPOSE OF PROVIDING SUPPORT FOR PROGRAMS AND ACTIVITIES WHICH ENHANCE THE QUALITY OF EDUCATION AND EXPAND THE EDUCATIONAL OPPORTUNITIES FOR STUDENTS ENROLLED AT HOLYOKE COMMUNITY COLLEGE. THE FOUNDATION PROVIDES A PERPETUAL TRUSTEESHIP FOR CAPITAL FUNDS DONATED BY INDIVIDUALS AND ORGANIZATIONS TO SUPPORT SPECIFIC PROGRAMS AND ACTIVITIES WHICH BENEFIT THE COLLEGE AND THE COMMUNITY IT SERVES.
Activities or mission (Part I)
TO PROVIDE SUPPORT FOR PROGRAMS AND ACTIVITIES WHICH ENHANCE THE QUALITY OF EDUCATION AND EXPAND THE EDUCATIONAL OPPORTUNITIES FOR STUDENTS AT HOLYOKE COMMUNITY COLLEGE.
-
SEE SCHEDULE OTHE PURPOSE OF THE HOLYOKE COMMUNITY COLLEGE FOUNDATION IS TO SECURE, INVEST, AND STEWARD FINANCIAL AND OTHER RESOURCES TO ENHANCE THE QUALITY OF EDUCATION AND EXPAND EDUCATIONAL OPPORTUNITIES FOR HCC STUDENTS. GOVERNED BY A BOARD OF DIRECTORS, THE HCC FOUNDATION AWARDED MORE THAN $300,000 IN SCHOLARSHIPS DURING THE YEAR ENDED JUNE 30, 2023. DURING THIS YEAR, THE HCC FOUNDATION ALSO PROVIDED DIRECT PROGRAM SUPPORT FOR ACADEMIC PROGRAMS AND STUDENT SUPPORT SERVICES ACROSS CAMPUS, INCLUDING CLASSROOM EQUIPMENT, UPGRADED TECHNOLOGY, GUEST SPEAKERS, FACILITY RENOVATIONS, AND MORE. THE FOUNDATION IS ALSO COMMITTED TO HELPING STUDENTS OVERCOME BARRIERS TO SUCCESS THROUGH THE PRESIDENT'S STUDENT EMERGENCY FUND. ALL FOUNDATION FUNDRAISING IS SUPPORTED BY MEANINGFUL STEWARDSHIP AND DONOR RELATIONS THAT CELEBRATES DONORS' CONTRIBUTIONS AND COMMITMENT TO OUR MISSION.
Expenses $2,131,535 · Grants $1,530,587 · Revenue $993,276
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Corey MurphyCOREY MURPHY
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 2
-
Susan GoldsmithSUSAN GOLDSMITH
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Deana L McPhersonDEANA L MCPHERSON
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Michael RoundyMICHAEL ROUNDY
VICE TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Nikki BurnettNIKKI BURNETT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
John DriscollJOHN DRISCOLL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Kip FoleyKIP FOLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Wendy FoxWENDY FOX
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Joshua GarciaJOSHUA GARCIA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Erin GodfreyERIN GODFREY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Maura GreaneyMAURA GREANEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Ted HebertTED HEBERT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Sina HollomanSINA HOLLOMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Francis M KaneFRANCIS M KANE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Mary KaedingMARY KAEDING
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Michael LynchMICHAEL LYNCH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Tiffany Cutting MadruTIFFANY CUTTING MADRU
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Alaina MacAulayALAINA MACAULAY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Evan PlotkinEVAN PLOTKIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Ryan RegeRYAN REGE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Israel RiveraISRAEL RIVERA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Gary RomeGARY ROME
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Dr Christina RoyalDR CHRISTINA ROYAL
DIRECTOR
- Total calculated
- $235,857
- From this org
- $0
- From related orgs
- $235,857
- Other
- $0
- Hours/week
- 2
Schedule J breakdown matched by us
- Base
- $0 + $232,695 related
- Bonus
- $0
- Other
- $0 + $3,162 related
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $0 + $235,857 related
-
Amanda SbrisciaAMANDA SBRISCIA
DIRECTOR
- Total calculated
- $126,900
- From this org
- $0
- From related orgs
- $126,900
- Other
- $0
- Hours/week
- 2
-
Lynn StarrLYNN STARR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Camille TheriaqueCAMILLE THERIAQUE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Timothy WegielTIMOTHY WEGIEL
DIRECTOR
- 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
-
HOLYOKE COMMUNITY COLLEGE
$1,280,497
DIRECT SUPPORT OF THE COLLEGE
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.
-
HOLYOKE COMMUNITY COLLEGE
EDUCATION · MA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 18 October 2023
- IRS schema version
- 2022v5.0
- Source object
- 202312939349300006
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