Skip to content
Nonprofiteer
← SOUTHWEST VIRGINIA HIGHER EDUCATION CENTER FOUNDATION

Form 990 for tax year 2023

Filed by SOUTHWEST VIRGINIA HIGHER EDUCATION CENTER FOUNDATION.

Totals

Total revenue
$622,221
Total expenses
$460,303
Contributions and grants received
$672,152
Grants paid
$0
Program service revenue
$0
Investment income
$27,511
Other revenue
-$77,442
Total assets, end of year
$6,372,787
Total liabilities, end of year
$10,000
Net assets or fund balances, end of year
$6,362,787
Program services expenses (Part IX)
$414,595
Management and general expenses
$45,708
Fundraising expenses
$0
Program service expenses (Part III)
$414,595

Program services were 90.1% 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.

  • 1e · Government grants (contributions)

    $70,615

  • 1f · All other contributions, gifts and grants

    $601,537

  • 3 · Investment income

    total $27,575 · excluded $27,575

  • 5 · Royalties

    total $32,473 · excluded $32,473

  • 6a · Gross rents

    real property $148,966

  • 6b · Less rental expenses

    real property $261,381

  • 6c · Rental income or loss

    real property -$112,415

  • 6d · Net rental income or loss

    total -$112,415 · unrelated business -$112,415

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

    securities $64

  • 7c · Gain or loss

    securities -$64

  • 7d · Net gain or loss

    total -$64 · excluded -$64

  • 8a · Fundraising events: gross income

    $2,500

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $2,500 · excluded $2,500

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $4,520 · management and general $4,520

  • 11g · Fees: other

    total $4,082 · management and general $4,082

  • 13 · Office expenses

    total $37,106 · management and general $37,106

  • 22 · Depreciation, depletion and amortization

    total $70,108 · program services $70,108

  • 24a · Other expenses: GRANT DISBURSEMENTS

    total $344,487 · program services $344,487

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $797,255 · end of year $1,198,638

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

    $8,572,233

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

    $3,398,084

  • 10c · Land, buildings and equipment, net

    beginning of year $5,412,897 · end of year $5,174,149

  • 18 · Grants payable

    beginning of year $12,000 · end of year $10,000

  • 28 · Net assets with donor restrictions

    beginning of year $6,198,152 · end of year $6,362,787

Mission and programs · 2023

Mission

THE FOUNDATION WAS FORMED TO SUPPORT THE EDUCATIONAL PROGRAMS AND ACTIVITIES OF THE SOUTHWEST VIRGINIA HIGHER EDUCATION CENTER AND THE CLEAN ENERGY RESEARCH AND DEVELOPMENT CENTER BY PROVIDING ADMINISTRATIVE SERVICES, ENGAGING IN ALL MATTERS.

Activities or mission (Part I)

THE FOUNDATION WAS FORMED TO SUPPORT THE EDUCATIONAL PROGRAMS AND ACTIVITIES OF THE SOUTHWEST VIRGINIA HIGHER EDUCATION CENTER AND THE CLEAN ENERGY RESEARCH AND DEVELOPMENT CENTER BY PROVIDING ADMINISTRATIVE SERVICES.

  • THE SOUTHWEST VIRGINIA HIGHER EDUCATION CENTER FOUNDATION MANAGES GRANTS FOR THE SOUTHWEST VIRGINIA CLEAN ENERGY RESEARCH AND DEVELOPMENT CENTER. THE VIRGINIA TOBACCO INDEMNIFICATION AND COMMUNITY REVITALIZATION IS THE SPONSOR FOR THE AWARDS MANAGED BY THE FOUNDATION. THE SPONSOR REQUIRES LARGE EQUIPMENT PURCHASES TO BE TITLED TO THE FOUNDATION WHILE THE AWARD IS MANAGED. THE TOBACCO INDEMNIFICATION AND COMMUNITY REVITALIZATION GRANT AWARDS ALLOW THE SOUTHWEST VIRGINIA CLEAN ENERGY RESEARCH AND DEVELOPMENT CENTER AND THE FOUNDATION ASSIST IN THE INDEMNIFICATION AND COMMUNITY REVITALIZATION GRANT AND GIVES BUSINESSES THE SUPPORT NEEDED FOR STARTING A NEW VENTURE. THE R&D CENTER'S FOCUS IS ON APPLIED RESEARCH FOR TECHNOLOGIES, POLICY, AND INFRASTRUCTURE ISSUES, ALONG WITH BROKERING OF KEY WORKFORCE NEEDS, WILL SYSTEMATICALLY CONNECT INDUSTRY WITH THE EDUCATION AND RESEARCH RESOURCES NEEDED.THE MISSION OF THE SOUTHWEST VIRGINIA HIGHER EDUCATION CENTER FOUNDATION IS TO SUPPORT THE PROGRAMS OF THE SOUTHWEST VIRGINIA HIGHER EDUCATION CENTER.

    Expenses $414,595

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

Listed in Part VII

  • Carol Jones

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • David Matlock

    EX OFFICIO DIRECTOR

    Total calculated
    $0
    Hours/week
    0.75

  • Gary Hearl

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5

  • Mark Graham

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Donna Stanley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • James Blevins

    V.P. OF FINANCE

    Total calculated
    $0
    Hours/week
    3.75

  • Savannah Barber

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Patrick Callebs

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Mark Farris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Mark Nelson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Will Wampler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Joy Rumley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
12 July 2025
IRS schema version
2023v6.0
Source object
202522029349300727

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.