Form 990 for tax year 2022
Filed by VIRGINIA WESTERN COMMUNITY COLLEGE EDUCATIONAL FOUNATION INC.
Totals
- Total revenue
- $1,475,010
- Total expenses
- $2,598,851
- Contributions and grants received
- $2,073,327
- Grants paid
- $1,829,004
- Program service revenue
- $0
- Investment income
- -$602,678
- Other revenue
- $4,361
- Total assets, end of year
- $25,769,565
- Total liabilities, end of year
- $157,138
- Net assets or fund balances, end of year
- $25,612,427
- Program services expenses (Part IX)
- $2,148,460
- Management and general expenses
- $297,716
- Fundraising expenses
- $152,675
- Program service expenses (Part III)
- $2,148,460
Program services were 82.7% 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
$2,073,327
-
3 · Investment income
total $574,783 · excluded $574,783
-
6a · Gross rents
real property $3,688
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $3,688
-
6d · Net rental income or loss
total $3,688 · related or exempt $3,688
-
7b · Less cost or other basis and sales expenses
securities $1,177,461
-
7c · Gain or loss
securities -$1,177,461
-
7d · Net gain or loss
total -$1,177,461 · excluded -$1,177,461
-
11a · Other revenue: CHANGE IN CASH SURRENDER VALUE OF
total $673 · excluded $673
-
11e · Other revenue, total
$673
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $1,829,004 · program services $1,829,004
-
5 · Compensation of officers, directors and key employees
total $25,000 · fundraising $25,000
-
11b · Fees: legal
total $747 · management and general $747
-
11c · Fees: accounting
total $72,469 · management and general $72,469
-
11f · Fees: investment management
total $64,478 · management and general $64,478
-
11g · Fees: other
total $99,041 · fundraising $99,041
-
12 · Advertising and promotion
total $39,908 · management and general $19,303 · fundraising $20,605
-
13 · Office expenses
total $50,285 · program services $32,720 · management and general $9,740 · fundraising $7,825
-
17 · Travel
total $2,533 · management and general $2,533
-
23 · Insurance
total $8,175 · management and general $8,175
-
24a · Other expenses: PROGRAM SUPPORT
total $197,580 · program services $197,580
-
24b · Other expenses: REIMBURSEMENT OF SALARI
total $100,449 · management and general $100,449
-
24c · Other expenses: MISCELLANEOUS OTHER EXP
total $43,960 · program services $24,138 · management and general $19,822
-
24d · Other expenses: GRANT EXPENDITURES
total $40,945 · program services $40,945
-
24e · All other expenses
total $24,277 · program services $24,073 · fundraising $204
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $2,321,673 · end of year $612,408
-
3 · Pledges and grants receivable
beginning of year $511,377 · end of year $519,831
-
4 · Accounts receivable
beginning of year $11,695 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $29,355 · end of year $30,578
-
10a · Land, buildings and equipment: cost or other basis
$89,784
-
10b · Land, buildings and equipment: accumulated depreciation
$89,784
-
10c · Land, buildings and equipment, net
beginning of year $1,239 · end of year $0
-
11 · Investments: publicly traded securities
beginning of year $27,982,453 · end of year $24,543,063
-
15 · Other assets
beginning of year $71,152 · end of year $63,685
-
17 · Accounts payable and accrued expenses
beginning of year $117,135 · end of year $157,138
-
27 · Net assets without donor restrictions
beginning of year $3,653,562 · end of year $2,876,122
-
28 · Net assets with donor restrictions
beginning of year $27,158,247 · end of year $22,736,305
Mission and programs · 2022
Mission
THE VIRGINIA WESTERN COMMUNITY COLLEGE EDUCATIONAL FOUNDATION, INC., IS AN INDEPENDENT NOT-FOR-PROFIT FOUNDATION DEDICATED TO ENHANCING COMMUNITY AWARENESS OF THE COLLEGE; SECURING PRIVATE AND PUBLIC FUNDS FOR STUDENT SCHOLARSHIPS, FACULTY DEVELOPMENT AND CAPITAL PROJECTS; AND PROVIDING PRUDENT FISCAL MANAGEMENT OF MONIES AND PROPERTIES SUBMITTED TO THE FOUNDATION.
Activities or mission (Part I)
TO AWARD SCHOLARSHIPS AND GRANTS TO THE STUDENTS OF VIRGINIA WESTERN COMMUNITY COLLEGE, AND TO PROVIDE FUNDING IN SUPPORT OF A VARIETY OF THE COLLEGE'S ACADEMIC AND VOCATIONAL PROGRAMS.
-
PROVIDE SCHOLARSHIPS, GRANTS, AND PROGRAM SUPPORT TO STUDENTS, FACULTY, AND ACADEMIC DEPARTMENTS OF VIRGINIA WESTERN COMMUNITY COLLEGE. THE FOUNDATION ADMINISTERS APPROXIMATELY 84 ENDOWED AND 78 NON-ENDOWED SCHOLARSHIP GRANT FUNDS. THE EXPENSE TOTALS DO NOT INCLUDE THE VALUE OF DONATED STAFF OF $413,617, DONATED FACILITIES OF $ AND OTHER SERVICES OF $.
Expenses $2,148,460 · Grants $1,829,004 · Revenue $3,688
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Dr Robert H SandelDR ROBERT H SANDEL
COLLEGE PRESIDENT
- Total calculated
- $328,672
- From this org
- $25,000
- From related orgs
- $246,124
- Other
- $57,548
- Hours/week
- 4 + 40 related
Schedule J breakdown matched by us
- Base
- $25,000 + $235,338 related
- Bonus
- $0
- Other
- $0 + $10,786 related
- Deferred
- $0 + $57,548 related
- Nontaxable benefits
- $0
- Filer's total
- $25,000 + $303,672 related
-
Deborah L PetrineDEBORAH L PETRINE
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Russ EllettRUSS ELLETT
BOARD VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Chris CareyCHRIS CAREY
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Tammy Moss FinleyTAMMY MOSS FINLEY
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
William J Farrell IIWILLIAM J FARRELL II
IMMEDIATE PAST CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
John R FrancisJOHN R FRANCIS
LOCAL BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Barton J WilnerBARTON J WILNER
COMMITTEE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
J David WineJ DAVID WINE
COMMITTEE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
W Heywood FralinW HEYWOOD FRALIN
COMMITTEE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Edwin C HallEDWIN C HALL
COMMITTEE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Nicholas F TaubmanNICHOLAS F TAUBMAN
EX-OFFICIO
- Total calculated
- $0
- Hours/week
- 1
-
Kenneth J BeltonKENNETH J BELTON
AT LARGE MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Abney S Boxley IIIABNEY S BOXLEY III
AT LARGE MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Nicholas C ConteNICHOLAS C CONTE
AT LARGE MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
David DantlzerDAVID DANTLZER
AT LARGE MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Christopher Desimone EsqCHRISTOPHER DESIMONE ESQ
AT LARGE MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Scott GraeffSCOTT GRAEFF
AT LARGE MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Leon P HarrisLEON P HARRIS
AT LARGE MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Joseph HoffJOSEPH HOFF
AT LARGE MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Frederick James JrFREDERICK JAMES JR
AT LARGE MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Stephen LemonSTEPHEN LEMON
AT LARGE MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
George W LoganGEORGE W LOGAN
AT LARGE MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Mark R PaceMARK R PACE
AT LARGE MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Andrew J ParkerANDREW J PARKER
AT LARGE MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Kirtesh D PatelKIRTESH D PATEL
AT LARGE MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
J Kenneth RandolphJ KENNETH RANDOLPH
AT LARGE MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Katherin ElamKATHERIN ELAM
AT LARGE MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Neil D Wilkin JrNEIL D WILKIN JR
AT LARGE 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
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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VIRGINIA WESTERN COMMUNITY COLLEGE
115 · STATE COMMUNITY COLLEGE · VA
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.
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VIRGINIA WESTERN COMMUNITY COLLEGE REAL ESTATE FOUNDATION LLC
ACQUISITION, OWNERSHIP, OPERATION, AND TRANSFER OF REAL PROPERTY · VA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 30 October 2023
- IRS schema version
- 2022v5.0
- Source object
- 202303039349301720
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