Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $24,039

• 1f · All other contributions, gifts and grants

  $304,509

• 1g · Noncash contributions included above

  $1,600

• 3 · Investment income

  total $55,862 · excluded $55,862

• 7a · Gross sales of assets other than inventory

  securities $5,679,641

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

  securities $5,521,034

• 7c · Gain or loss

  securities $158,607

• 7d · Net gain or loss

  total $158,607 · excluded $158,607

• 8a · Fundraising events: gross income

  $47,411

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

  $24,039

• 8b · Fundraising events: direct expenses

  $16,317

• 8c · Net income from fundraising events

  total $31,094 · excluded $31,094

• 9a · Gaming: gross income

  $678

• 9b · Gaming: direct expenses

  $0

• 9c · Net income from gaming

  total $678 · excluded $678

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $59,340 · program services $59,340

• 2 · Grants to domestic individuals

  total $183,161 · program services $183,161

• 11c · Fees: accounting

  total $4,628 · management and general $4,628

• 12 · Advertising and promotion

  total $3,191 · fundraising $3,191

• 13 · Office expenses

  total $10,071 · program services $2,524 · management and general $5,023 · fundraising $2,524

• 22 · Depreciation, depletion and amortization

  total $2,840 · management and general $2,840

• 24a · Other expenses: PURCHASED SERVICES

  total $105,010 · program services $67,510 · management and general $3,750 · fundraising $33,750

• 24b · Other expenses: PROGRAM EXPENSES

  total $14,528 · program services $6,765 · management and general $2,073 · fundraising $5,690

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $524,648 · end of year $0

• 2 · Savings and temporary cash investments

  beginning of year $613,185 · end of year $1,418,851

• 3 · Pledges and grants receivable

  beginning of year $159,160 · end of year $109,160

• 9 · Prepaid expenses and deferred charges

  beginning of year $7,765 · end of year $26,039

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

  $42,606

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

  $22,010

• 10c · Land, buildings and equipment, net

  beginning of year $23,436 · end of year $20,596

• 11 · Investments: publicly traded securities

  beginning of year $2,193,885 · end of year $2,219,890

• 17 · Accounts payable and accrued expenses

  beginning of year $38,362 · end of year $3,465

• 25 · Other liabilities

  beginning of year $99,153 · end of year $141,530

• 27 · Net assets without donor restrictions

  beginning of year $390,456 · end of year $365,785

• 28 · Net assets with donor restrictions

  beginning of year $2,994,108 · end of year $3,283,756

The filer's explanations (Part III)

PART I, LINE 3:

STAN KULA, EXECUTIVE DIRECTOR, IS EMPLOYED AND COMPENSATED BY SUSSEX COUNTY COMMUNITY COLLEGE, AN UNRELATED PARTY. HE DEVOTES 100% OF HIS TIME TO SUSSEX COUNTY COMMUNITY COLLEGE FOUNDATION AND, IN COMPLIANCE WITH PART VII INSTRUCTIONS OF THE FORM 990, HAS 100% OF HIS COMPENSATION ALLOCATED TO THE ORGANIZATION ($156,258). THE EXECUTIVE DIRECTOR'S COMPENSATION IS BASED ON THE SCOPE AND LEVEL OF THE POSITION, TAKEN IN CONJUNCTION WITH RELEVANT SKILLS, EXPERIENCE, AND AS COMPARED TO MARKET NORMS AND OTHER POSITIONS OF COMPARABLE SCOPE AND LEVEL.