Form 990 for tax year 2022
Filed by WEST GEORGIA TECHNICAL COLLEGE FOUNDATION INC.
Totals
- Total revenue
- $1,645,091
- Total expenses
- $1,356,538
- Contributions and grants received
- $868,037
- Grants paid
- $531,839
- Program service revenue
- $705,000
- Investment income
- $39,060
- Other revenue
- $32,994
- Total assets, end of year
- $17,154,399
- Total liabilities, end of year
- $6,464,682
- Net assets or fund balances, end of year
- $10,689,717
- Program services expenses (Part IX)
- $1,200,577
- Management and general expenses
- $119,202
- Fundraising expenses
- $36,759
- Program service expenses (Part III)
- $1,200,577
Program services were 88.5% 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.
-
1c · Fundraising events
$161,973
-
1e · Government grants (contributions)
$60,222
-
1f · All other contributions, gifts and grants
$645,842
-
1g · Noncash contributions included above
$158,062
-
2a · Program service revenue: RENTAL INCOME
total $705,000 · related or exempt $705,000
-
3 · Investment income
total $39,060 · excluded $39,060
-
8a · Fundraising events: gross income
$45,850
-
8a · Fundraising events: contributions included on line 1c
$161,973
-
8b · Fundraising events: direct expenses
$61,880
-
8c · Net income from fundraising events
total -$16,030 · excluded -$16,030
-
9a · Gaming: gross income
$5,030
-
9b · Gaming: direct expenses
$803
-
9c · Net income from gaming
total $4,227 · excluded $4,227
-
11a · Other revenue: REFUNDS & REIMBURSEMEN
total $44,797 · excluded $44,797
-
11e · Other revenue, total
$44,797
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $531,839 · program services $531,839
-
11b · Fees: legal
total $840 · management and general $840
-
11c · Fees: accounting
total $5,639 · management and general $5,639
-
11f · Fees: investment management
total $9,854 · management and general $9,854
-
11g · Fees: other
total $38,460 · management and general $38,460
-
13 · Office expenses
total $14,639 · management and general $14,639
-
14 · Information technology
total $19,232 · management and general $19,232
-
16 · Occupancy
total $259,117 · program services $259,117
-
17 · Travel
total $5,937 · management and general $5,937
-
19 · Conferences, conventions and meetings
total $43,824 · management and general $12,701 · fundraising $31,123
-
22 · Depreciation, depletion and amortization
total $379,183 · program services $379,183
-
23 · Insurance
total $30,438 · program services $30,438
-
24a · Other expenses: MEMBERSHIP AND DUES
total $11,900 · management and general $11,900
-
24b · Other expenses: DONOR RELATIONS
total $5,636 · fundraising $5,636
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $188,218 · end of year $480,995
-
2 · Savings and temporary cash investments
beginning of year $1,084,698 · end of year $1,355,879
-
3 · Pledges and grants receivable
beginning of year $27,538 · end of year $29,989
-
9 · Prepaid expenses and deferred charges
beginning of year $14,155 · end of year $48,542
-
10a · Land, buildings and equipment: cost or other basis
$16,619,487
-
10b · Land, buildings and equipment: accumulated depreciation
$4,043,555
-
10c · Land, buildings and equipment, net
beginning of year $12,925,537 · end of year $12,575,932
-
13 · Investments: program-related
beginning of year $2,475,179 · end of year $2,627,522
-
15 · Other assets
beginning of year $35,540 · end of year $35,540
-
17 · Accounts payable and accrued expenses
beginning of year $78,214 · end of year $65,604
-
19 · Deferred revenue
end of year $61,250
-
23 · Secured mortgages and notes payable
beginning of year $6,569,815 · end of year $6,337,828
-
27 · Net assets without donor restrictions
beginning of year $10,055,603 · end of year $10,689,717
-
28 · Net assets with donor restrictions
beginning of year $47,233 · end of year $0
Mission and programs · 2022
Mission
THE PURPOSE OF THE WEST GEORGIA TECHNICAL COLLEGE (WGTC) FOUNDATION IS TO INCREASE FINANCIAL SUPPORT AND/OR ADDITIONAL RESOURCES FOR WEST GEORGIA TECHNICAL COLLEGE AND TO SUPPORT THE COLLEGE'S MISSION. ADDITIONALLY, THE FOUNDATION WILL PROVIDE RESOURCES THAT SUPPORT WORKFORCE DEVELOPMENT AND HELP STUDENTS BUILD BETTER LIVES.
-
FOUNDATION PROVIDED FUNDS FOR ADULT EDUCATION PROGRAMS, MEDICAL PROGRAMS, STUDENT SCHOLARSHIPS, STUDENT RECRUITMENT, CAMPUS MARKETING, AND IMPROVEMENTS.
Expenses $1,200,577 · Grants $531,839 · Revenue $705,000
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
BRITTNEY WELLS
EXECUTIVE DIRECTOR
- Total calculated
- $95,001
- From this org
- $69,827
- From related orgs
- $0
- Other
- $25,174
- Hours/week
- 40
-
LATESA BAILEY
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
MARK FOSTER
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
MURRAY BRADLEY
TREASURER (PARTIAL YEAR)
- Total calculated
- $0
- Hours/week
- 1
-
NED FOWLER
TREASURER (PARTIAL YEAR)
- Total calculated
- $0
- Hours/week
- 1
-
GREG WRIGHT
PAST CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
MARIE SWOPE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
DANIEL JACKSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
LINDA MCWHORTER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
JANE FRYER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
HELEN RICE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
ALLEN PARHAM
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
WILL BERRY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
AARON MABON
TRUSTEE
- 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.
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
The filer's explanations (Part III)
- FORM 990, PART VII OFFICER COMPENSATION
- THE EXECUTIVE DIRECTOR IS COMPENSATED BY AN UNRELATED ENTITY, WEST GEORGIA TECHNICAL COLLEGE, FOR SERVICES PROVIDED TO THE FOUNDATION. BRITTNEY WELLS, EXECUTIVE DIRECTOR, RECEIVED $95,001 IN COMPENSATION FOR 2022.
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
-
WEST GEORGIA TECHNICAL COLLEGE
$531,839
EDUCATION
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202411369349317026
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