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← AGC EDUCATION AND RESEARCH FOUNDATION

Form 990 for tax year 2022

Filed by AGC EDUCATION AND RESEARCH FOUNDATION.

Totals

Total revenue
$1,636,616
Total expenses
$1,067,975
Contributions and grants received
$765,817
Grants paid
$616,036
Program service revenue
$0
Investment income
$724,858
Other revenue
$145,941
Total assets, end of year
$11,814,956
Total liabilities, end of year
$200,258
Net assets or fund balances, end of year
$11,614,698
Program services expenses (Part IX)
$688,569
Management and general expenses
$338,605
Fundraising expenses
$40,801
Program service expenses (Part III)
$688,569

Program services were 64.5% 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

    $277,534

  • 1f · All other contributions, gifts and grants

    $488,283

  • 3 · Investment income

    total $318,271 · excluded $318,271

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $3,096 · excluded $3,096

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $2,135,933

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

    securities $1,729,346

  • 7c · Gain or loss

    securities $406,587

  • 7d · Net gain or loss

    total $406,587 · excluded $406,587

  • 8a · Fundraising events: gross income

    $82,566

  • 8a · Fundraising events: contributions included on line 1c

    $277,534

  • 8b · Fundraising events: direct expenses

    $138,987

  • 8c · Net income from fundraising events

    total -$56,421 · excluded -$56,421

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: ADMINISTRATIVE FEES

    total $199,013 · excluded $199,013

  • 11b · Other revenue: DISCOUNT PLEDGE RECEIVABLE ADJUSTMENT

    total $253 · excluded $253

  • 11e · Other revenue, total

    $199,266

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $84,150 · program services $84,150

  • 2 · Grants to domestic individuals

    total $531,886 · program services $531,886

  • 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 $99,514 · program services $59,708 · management and general $19,903 · fundraising $19,903

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $12,755 · program services $12,755

  • 11b · Fees: legal

    total $12,984 · fundraising $12,984

  • 11c · Fees: accounting

    total $24,985 · management and general $24,985

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $6,211 · management and general $6,211

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $9,889 · management and general $9,889

  • 13 · Office expenses

    total $1,510 · program services $70 · management and general $1,440

  • 14 · Information technology

    total $7,395 · management and general $5,000 · fundraising $2,395

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $19,818 · management and general $19,818

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $23,768 · management and general $18,249 · fundraising $5,519

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: ADMINISTRATIVE FEES

    total $198,889 · management and general $198,889

  • 24b · Other expenses: BAD DEBT

    total $25,000 · management and general $25,000

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $5,000 · management and general $5,000

  • 24d · Other expenses: MISCELLANEOUS

    total $4,222 · management and general $4,221

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $738,597 · end of year $572,207

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $409,442 · end of year $327,904

  • 4 · Accounts receivable

    beginning of year $2,665 · end of year $4,658

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,949 · end of year $1,534

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $7,838,988 · end of year $7,224,735

  • 12 · Investments: other securities

    beginning of year $5,211,248 · end of year $3,683,918

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $136,736 · end of year $31,258

  • 18 · Grants payable

    beginning of year $169,875 · end of year $169,000

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $1,646,070 · end of year $1,495,029

  • 28 · Net assets with donor restrictions

    beginning of year $12,251,208 · end of year $10,119,669

Mission and programs · 2022

Mission

THE ORGANIZATION'S MISSION IS: 1) AWARDING SCHOLARSHIPS TO QUALIFIED UNDERGRADUATE AND/OR GRADUATE STUDENTS ENROLLED AT ABET OR ACCE ACCREDITED SCHOOLS AND COLLEGES IN THE FIELD OF CONSTRUCTION OR CONSTRUCTION-RELATED ENGINEERING WHO DEMONSTRATE AN INTEREST IN PURSUING CAREERS IN THE CONSTRUCTION INDUSTRY AND MEET THE FOUNDATION'S ACADEMIC AND EXTRA-CURRICULAR CRITERIA FOR SUCH SCHOLARSHIPS; 2) PROVIDING FINANCIAL ASSISTANCE TO SUPPORT TEACHING FACULTY IN THE FIELD OF CONSTRUCTION OR CONSTRUCTION-RELATED ENGINEERING AT ABET OR ACCE ACCREDITED SCHOOLS AND COLLEGES; AND 3) AWARDING FUNDING FOR SCIENTIFIC RESEARCH PROJECTS OR OTHER PROGRAMS DEEMED TO BE BENEFICIAL TO THE ADVANCEMENT OF EDUCATIONAL, TECHNOLOGICAL, OR VOCATIONAL EXPERTISE IN THE INDUSTRY WITH AWARDS BASED IN PART UPON RECOMMENDATIONS OF ABET OR ACCE ACCREDITED SCHOOLS AND COLLEGES OR OTHER GROUPS WITH SPECIAL KNOWLEDGE IN CONSTRUCTION OR CONSTRUCTION RELATED-ENGINEERING.

Activities or mission (Part I)

SEE SCHEDULE O

  • SCHOLARSHIP, AWARD AND GRANT PROGRAM - THE SCHOLARSHIP, AWARD AND GRANTS PROGRAMS RECOGNIZE QUALIFYING STUDENTS AND UNIVERSITIES, WHO ARE INTERESTED IN CONSTRUCTION AND CIVIL ENGINEERING. SCHOLARSHIPS, AWARDS, AND GRANTS ARE MADE ON THE BASIS OF DEMONSTRATION OF INTEREST IN THE CONSTRUCTION INDUSTRY, SCHOLASTIC OR TEACHING QUALIFICATIONS, AND THE STUDENT OR TEACHER'S NEED FOR FINANCIAL ASSISTANCE. SCHOLARSHIPS WERE AWARDED TO 137 UNDERGRADUATE AND GRADUATE STUDENTS AND TO 18 TO CRAFT/TECHNICAL TRAINING STUDENTS DURING 2022.

    Expenses $579,209 · Grants $519,500

  • INDUSTRY RESIDENCY PROGRAM - THIS PROGRAM ENRICHES THE CLASSROOM EXPERIENCE OF CONSTRUCTION STUDENTS BY PROVIDING OPPORTUNITIES FOR SELECTED FACULTY MEMBERS TO GAIN CONSTRUCTION EXPERIENCE THROUGH SUMMER INTERNSHIPS WITH AGC MEMBER COMPANIES. THE PROGRAM IS DESIGNED TO BE A PARTNERSHIP AMONG THE ACADEMIC INSTITUTION, A CONSTRUCTION FIRM OR ORGANIZATION, AND THE FOUNDATION. THE FOUNDATION PARTNERED WITH FOUR AGC MEMBER COMPANIES AND PROFESSORS IN 2022.

    Expenses $46,150 · Grants $46,150

  • KEENE STATE SAFETY PROGRAM - THE FOUNDATION FINANCIALLY SUPPORTS KEENE STATE COLLEGE ESTABLISHMENT OF A CONSTRUCTION SAFETY BACHELOR'S DEGREE PROGRAM, THE FINANCIAL SUPPORT COVERS COMPENSATION FOR CLINICAL FACULTY, CONTRACT LECTURERS, COORDINATORS, AND CURRICULUM DEVELOPERS; RESEARCH AND CAPSTONE OPPORTUNITIES FOR STUDENTS AND FACULTY; STUDENT SCHOLARSHIPS; STUDENT ATTENDANCE AT RELATED NATIONAL CONFERENCE; AND DEVELOPMENT OF A CAMPUS-BASED CONSTRUCTION SAFETY CERTIFICATE PROGRAM.

    Expenses $38,000 · Grants $38,000

  • INDUSTRY CASE STUDIES

    Expenses $12,755

  • AWARDS

    Expenses $12,455 · Grants $12,386

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

Listed in Part VII

  • Conor O'Brien

    SECRETARY

    Total calculated
    $146,199
    From this org
    $0
    From related orgs
    $126,654
    Other
    $19,545
    Hours/week
    10 + 27.5 related

  • B Scott Holloway

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Francis W Madigan III

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Philip Beck

    TREASURER

    Total calculated
    $0
    Hours/week
    2.5

  • Robert L Bowen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeff Christianson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Caroline Clevenger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Maryanne Guido

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Hanson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Al Landes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robert C Lanham

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Doug Maibach

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • T Gaines Moorer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ashley Phelps

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Zofia Rybkowski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Shannon Sapp

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • W Milton Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lester C Snyder III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Eddie Stewart

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Leonard P Toenjes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Stephen C Vanderbloemen

    DIRECTOR

    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.

Grants 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.

Provenance

Return type
form_990
Tax year
2022
Filed
5 October 2023
IRS schema version
2022v5.0
Source object
202322799349300207

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