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Nonprofiteer
← ANNE ARUNDEL COMMUNITY COLLEGE FOUNDATION INC

Form 990 for tax year 2023

Filed by ANNE ARUNDEL COMMUNITY COLLEGE FOUNDATION INC.

Totals

Total revenue
$5,891,616
Total expenses
$2,237,937
Contributions and grants received
$3,986,624
Grants paid
$1,429,595
Program service revenue
$1,256,390
Investment income
$648,602
Other revenue
$0
Total assets, end of year
$37,110,045
Total liabilities, end of year
$5,970,474
Net assets or fund balances, end of year
$31,139,571
Program services expenses (Part IX)
$2,012,064
Management and general expenses
$193,214
Fundraising expenses
$32,659
Program service expenses (Part III)
$2,012,064

Program services were 89.9% 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

    $3,986,624

  • 1g · Noncash contributions included above

    $419,321

  • 2a · Program service revenue: RELATED ENTITY RENTAL

    total $1,256,390 · related or exempt $1,256,390

  • 3 · Investment income

    total $648,602 · excluded $648,602

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,429,595 · program services $1,429,595

  • 11b · Fees: legal

    total $10,231 · management and general $10,231

  • 11c · Fees: accounting

    total $18,800 · management and general $18,800

  • 11f · Fees: investment management

    total $106,244 · management and general $106,244

  • 11g · Fees: other

    total $6,307 · management and general $2,325 · fundraising $3,982

  • 13 · Office expenses

    total $38,417 · program services $3,000 · management and general $7,909 · fundraising $27,508

  • 14 · Information technology

    total $28,879 · management and general $28,879

  • 16 · Occupancy

    total $73,654 · program services $73,654

  • 17 · Travel

    total $104 · management and general $104

  • 19 · Conferences, conventions and meetings

    total $25,279 · program services $8,845 · management and general $15,265 · fundraising $1,169

  • 20 · Interest

    total $174,526 · program services $174,526

  • 22 · Depreciation, depletion and amortization

    total $322,444 · program services $322,444

  • 23 · Insurance

    total $3,457 · management and general $3,457

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,716,984 · end of year $1,044,441

  • 2 · Savings and temporary cash investments

    beginning of year $498,683 · end of year $2,129,490

  • 3 · Pledges and grants receivable

    beginning of year $1,835,505 · end of year $1,467,315

  • 9 · Prepaid expenses and deferred charges

    beginning of year $24,442 · end of year $23,328

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

    $14,399,051

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

    $6,853,176

  • 10c · Land, buildings and equipment, net

    beginning of year $7,868,319 · end of year $7,545,875

  • 11 · Investments: publicly traded securities

    beginning of year $19,561,854 · end of year $24,189,146

  • 15 · Other assets

    beginning of year $758,124 · end of year $710,450

  • 17 · Accounts payable and accrued expenses

    beginning of year $86,673 · end of year $82,919

  • 20 · Tax-exempt bond liabilities

    beginning of year $5,822,201 · end of year $4,922,907

  • 24 · Unsecured notes and loans payable

    beginning of year $618,205 · end of year $560,429

  • 25 · Other liabilities

    beginning of year $202,976 · end of year $404,219

  • 27 · Net assets without donor restrictions

    beginning of year $10,305,972 · end of year $11,909,972

  • 28 · Net assets with donor restrictions

    beginning of year $15,227,884 · end of year $19,229,599

Mission and programs · 2023

Mission

THE ANNE ARUNDEL COMMUNITY COLLEGE FOUNDATION, INC. IS A 501(C)(3) CORPORATION WHOSE MISSION IS TO EXPAND PRIVATE PHILANTHROPY & CULTIVATE PARTNERSHIPS TO ENHANCE AACC'S ABILITY TO SUPPORT STUDENTS & INITIATIVES THAT STRENGTHEN OUR COMMUNITY.

Activities or mission (Part I)

TO SECURE PRIVATE FUNDS THAT INCREASE ACCESS TO HIGHER EDUCATION AND SUPPORT AACC PROGRAMS.

  • SCHOLARSHIPS:ANNE ARUNDEL COMMUNITY COLLEGE (AACC) IS ONE OF THE MOST AFFORDABLE COMMUNITY COLLEGES IN MARYLAND YET MANY CURRENT AND PROSPECTIVE AACC STUDENTS DEMONSTRATE FINANCIAL NEED AND REQUIRE FINANCIAL ASSISTANCE IN ORDER TO ENROLL AT THE COLLEGE. THE PRIVATELY FUNDED SCHOLARSHIP PROGRAM AT ANNE ARUNDEL COMMUNITY COLLEGE FOUNDATION, INC. PROVIDES THAT AID FOR HUNDREDS OF STUDENTS EACH YEAR.

    Expenses $1,206,744 · Grants $1,206,744

  • SUPPORT OF COLLEGE PROGRAMS:THE FOUNDATION'S FOCUS HAS HISTORICALLY BEEN ON PROVIDING SCHOLARSHIPS TO ANNE ARUNDEL COMMUNITY COLLEGE STUDENTS, WHICH REMAINS ONE OF THE FOUNDATION'S PRIMARY PURPOSES. HOWEVER, AS THE COMPLEXITIES OF A 21ST CENTURY EDUCATION INCREASE, ADDITIONAL RESOURCES IN AREAS SUCH AS TECHNOLOGY, EQUIPMENT, DEPARTMENTAL SUPPORT, FACILITIES, STUDENT ENRICHMENT AND INNOVATION HELP PROTECT THE COLLEGE'S POSITION OF STRENGTH. GENEROUS CONTRIBUTIONS TO THE AACC FOUNDATION ALLOW THE FOUNDATION TO PROVIDE FUNDING FOR SUCH NEEDS THAT CANNOT BE MET BY THE COLLEGE'S ANNUAL BUDGET. SEE SCHEDULE O FOR ADDITIONAL DETAILS ON PROGRAM SUPPORT DISBURSED IN THE CURRENT YEAR.THESE CONTRIBUTIONS PROTECT THE COLLEGE'S MARGIN OF EXCELLENCE AND ENSURE A REGIONAL VITALITY POWERED BY AN EDUCATED CITIZENRY AND WORKFORCE.

    Expenses $805,320 · Grants $222,851 · Revenue $1,256,390

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Vollie Melson

    EXECUTIVE DIRECTOR

    Total calculated
    $195,683
    From this org
    $0
    From related orgs
    $186,315
    Other
    $9,368
    Hours/week
    18 + 22 related

    Schedule J breakdown matched by us

    Base
    $0 + $186,315 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $9,368 related
    Filer's total
    $0 + $195,683 related

  • Dan Mathias

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Laura Westervelt

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Cara Ducellier

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Eric Keitz CPA

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Cullen Murray

    IMMEDIATE PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Dr Shawn Ashworth

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Vincent Brown Jr

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Gina Calvert

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dr Nadine Chien

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Michael Crim

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ethan Dietrich

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dr Richard Faircloth

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Rachel Gwin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mark Hartzell

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • David Leach

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mark Libby

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Maria Worthington McKenna

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Javier Melendez

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Julie Mussog CPA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • David Orso

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Louben Repke

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • John Rosso

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ellen Shiery

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jay Strickland

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ben Surosky

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Howard Weinstein Esq

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Laray Williams

    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

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)

PART I, LINE 3
COMPENSATION FOR THE EXECUTIVE DIRECTOR IS DETERMINED AND PAID BY ANNE ARUNDEL COMMUNITY COLLEGE (AACC), THE RELATED ORGANIZATION. AACC DETERMINES COMPENSATION USING A COMPENSATION SURVEY OF COMPARABLE ORGANIZATIONS. COMPARATIVE DATA IS USED TO SET COMPENSATION RANGES THAT ARE USED TO VALIDATE THE APPROPRIATENESS OF INDIVIDUAL SALARIES. THE EXECUTIVE DIRECTOR IS HIRED BY THE COLLEGE AND PERFORMANCE IS EVALUATED ANNUALLY.

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

  • ANNE ARUNDEL COMMUNITY COLLEGE

    $1,206,744

    SCHOLARSHIPS

  • ANNE ARUNDEL COMMUNITY COLLEGE

    $222,851

    PROGRAM 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.

  • ANNE ARUNDEL COMMUNITY COLLEGE

    EDUCATIONAL INSTITUTION · MD

Provenance

Return type
form_990
Tax year
2023
Filed
7 March 2025
IRS schema version
2023v6.0
Source object
202520669349300747

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