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← VIRGINIA PENINSULA COMMUNITY COLLEGE EDUCATIONAL FOUNDATION

Form 990 for tax year 2022

Filed by VIRGINIA PENINSULA COMMUNITY COLLEGE EDUCATIONAL FOUNDATION.

Totals

Total revenue
$1,346,030
Total expenses
$1,138,440
Contributions and grants received
$663,855
Grants paid
$602,568
Program service revenue
$0
Investment income
$680,837
Other revenue
$1,338
Total assets, end of year
$11,943,791
Total liabilities, end of year
$149,402
Net assets or fund balances, end of year
$11,794,389
Program services expenses (Part IX)
$602,568
Management and general expenses
$285,864
Fundraising expenses
$250,008
Program service expenses (Part III)
$602,568

Program services were 52.9% 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.

  • 1f · All other contributions, gifts and grants

    $663,855

  • 1g · Noncash contributions included above

    $272,248

  • 3 · Investment income

    total $486,072 · excluded $486,072

  • 7a · Gross sales of assets other than inventory

    securities $1,487,792

  • 7b · Less cost or other basis and sales expenses

    securities $1,293,027

  • 7c · Gain or loss

    securities $194,765

  • 7d · Net gain or loss

    total $194,765 · related or exempt $194,765

  • 11a · Other revenue: CSV LIFE INSURANCE

    total $1,338 · excluded $1,338

  • 11e · Other revenue, total

    $1,338

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $602,568 · program services $602,568

  • 7 · Other salaries and wages

    total $263,796 · management and general $128,599 · fundraising $135,197

  • 11b · Fees: legal

    total $1,372 · management and general $1,372

  • 11c · Fees: accounting

    total $23,500 · management and general $23,500

  • 13 · Office expenses

    total $50,395 · management and general $49,509 · fundraising $886

  • 16 · Occupancy

    total $7,252 · management and general $6,064 · fundraising $1,188

  • 20 · Interest

    total $4,022 · management and general $4,022

  • 23 · Insurance

    total $3,564 · management and general $3,564

  • 24a · Other expenses: PERSONNEL COSTS

    total $125,813 · management and general $56,733 · fundraising $69,080

  • 24b · Other expenses: CAMPAIGN EVENTS

    total $42,819 · fundraising $42,819

  • 24c · Other expenses: BFR - REAL ESTATE TAXES

    total $6,411 · management and general $6,411

  • 24d · Other expenses: MEMBERSHIPS/SUBSCRIPTIONS

    total $3,240 · management and general $3,000 · fundraising $240

  • 24e · All other expenses

    total $3,688 · management and general $3,090 · fundraising $598

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $197,804 · end of year $198,569

  • 2 · Savings and temporary cash investments

    beginning of year $13,087 · end of year $26,905

  • 3 · Pledges and grants receivable

    beginning of year $108,048 · end of year $123,797

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,107 · end of year $1,245

  • 10a · Land, buildings and equipment: cost or other basis

    $543,300

  • 10b · Land, buildings and equipment: accumulated depreciation

    $11,000

  • 10c · Land, buildings and equipment, net

    beginning of year $532,300 · end of year $532,300

  • 11 · Investments: publicly traded securities

    beginning of year $10,479,735 · end of year $11,015,025

  • 12 · Investments: other securities

    beginning of year $44,612 · end of year $45,950

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,197 · end of year $7,917

  • 23 · Secured mortgages and notes payable

    beginning of year $155,640 · end of year $141,485

  • 27 · Net assets without donor restrictions

    beginning of year $1,886,963 · end of year $1,843,739

  • 28 · Net assets with donor restrictions

    beginning of year $9,330,893 · end of year $9,950,650

Mission and programs · 2022

Mission

THE VIRGINIA PENINSULA COMMUNITY COLLEGE EDUCATIONAL FOUNDATION IS A PRIVATE,NON-PROFIT, TAX EXEMPT ORGANIZATION DEDICATED TO ADVANCING AND FINANCIALLY SUPPORTING EDUCATIONAL EXCELLENCE AT VIRGINIA PENINSULA COMMUNITY COLLEGE. IT ALSO ENHANCES ACCESS TO HIGHER EDUCATIONAL OPPORTUNITIES AT THE COLLEGE BY REDUCING FINANCIAL BARRIERS FOR VIRGINIA PENINSULA COMMUNITY COLLEGE STUDENTS.

Activities or mission (Part I)

TO PROMOTE THE GENERAL WELFARE OF VIRGINIA PENINSULA COMMUNITY COLLEGE

  • THE FOUNDATION PROVIDES FUNDS TO VIRGINIA PENINSULA COMMUNITY COLLEGE FOR GRANTS, SCHOLARSHIPS AND EMERGENCY ASSISTANCE TO STUDENTS ATTENDING THE COLLEGE.

    Expenses $583,553 · Grants $583,553

  • THE FOUNDATION PROVIDED SUPPORT TO VARIOUS OUTREACH PROGRAMS OF VIRGINIA PENINSULA COMMUNITY COLLEGE AND TO THE COLLEGE ITSELF.

    Expenses $19,015 · Grants $19,015

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dr Porter Brannon

    FOUNDATION S

    Total calculated
    $205,704
    From this org
    $0
    From related orgs
    $189,900
    Other
    $15,804
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $189,900 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $15,804 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $205,704 related

  • Steve Carpenter

    FOUNDATION T

    Total calculated
    $169,809
    From this org
    $0
    From related orgs
    $141,327
    Other
    $28,482
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $141,327 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $28,482 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $169,809 related

  • Cynthia H Callaway

    EXECUTIVE DI

    Total calculated
    $161,052
    From this org
    $0
    From related orgs
    $133,464
    Other
    $27,588
    Hours/week
    24 + 16 related

    Schedule J breakdown matched by us

    Base
    not reported + $133,464 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $27,588 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $161,052 related

  • Tracy Ashley

    EXECUTIVE DI

    Total calculated
    $132,745
    From this org
    $0
    From related orgs
    $104,557
    Other
    $28,188
    Hours/week
    36 + 4 related

  • Shante' Bell

    ALUMNI COORD

    Total calculated
    $0
    Hours/week
    36 + 4 related

  • Crystal B Bright

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • David R Burris

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    1

  • Samar Chopra

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Rick Gallaer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jesse Goodrich

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • William Grace

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Patrese Hall

    FOUNDATION A

    Total calculated
    $0
    Hours/week
    20

  • Jack L Ezzell Jr

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Robert R Harper Jr

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Allan L Melton

    COLLEGE BD.

    Total calculated
    $0
    Hours/week
    1

  • Ross A Mugler

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Charles Southall

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Turner M Spencer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • A'Keen White

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Donna Wilmoth

    BOARD MEMBER

    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. 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

  • 1a · Discretionary spending account
  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses

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

  • VIRGINIA PENINSULA COMMUNITY COLLEG

    $583,553

    STUDENT SUPPORT

  • VIRGINIA PENINSULA COMMUNITY COLLEG

    $19,015

    OUTREACH & SUPPORT

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.

  • VIRGINIA PENINSULA COMMUNITY COLLEG

    501C3 · EDUCATION · VA

    Directly controlled by NA

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Provenance

Return type
form_990
Tax year
2022
Filed
14 September 2023
IRS schema version
2022v5.0
Source object
202302639349300925

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