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← SOUTHWEST VIRGINIA COMMUNITY COLLEGE EDUCATIONAL FOUNDATION INC

Form 990 for tax year 2024

Filed by SOUTHWEST VIRGINIA COMMUNITY COLLEGE EDUCATIONAL FOUNDATION INC.

Totals

Total revenue
$1,927,046
Total expenses
$3,071,605
Contributions and grants received
$933,324
Grants paid
$2,354,370
Program service revenue
$0
Investment income
$1,254,922
Other revenue
-$261,200
Total assets, end of year
$42,985,062
Total liabilities, end of year
$3,386,054
Net assets or fund balances, end of year
$39,599,008
Program services expenses (Part IX)
$2,458,459
Management and general expenses
$504,208
Fundraising expenses
$108,938
Program service expenses (Part III)
$2,458,459

Program services were 80.0% 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

    $60,907

  • 1e · Government grants (contributions)

    $4,650

  • 1f · All other contributions, gifts and grants

    $867,767

  • 3 · Investment income

    total $714,172 · excluded $714,172

  • 6a · Gross rents

    real property $393,346

  • 6b · Less rental expenses

    real property $647,570

  • 6c · Rental income or loss

    real property -$254,224

  • 6d · Net rental income or loss

    total -$254,224 · related or exempt -$254,224

  • 7a · Gross sales of assets other than inventory

    securities $726,750 · other assets $29,000

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

    securities $0 · other assets $215,000

  • 7c · Gain or loss

    securities $726,750 · other assets -$186,000

  • 7d · Net gain or loss

    total $540,750 · related or exempt -$186,000 · excluded $726,750

  • 8a · Fundraising events: gross income

    $45,558

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

    $60,907

  • 8b · Fundraising events: direct expenses

    $63,898

  • 8c · Net income from fundraising events

    total -$18,340 · excluded -$18,340

  • 11a · Other revenue: ARTISAN'S CRAFTS - COMMISSIONS

    total $11,364 · related or exempt $11,364

  • 11e · Other revenue, total

    $11,364

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,354,370 · program services $2,354,370

  • 7 · Other salaries and wages

    total $451,980 · program services $31,000 · management and general $334,835 · fundraising $86,145

  • 11b · Fees: legal

    total $1,275 · management and general $1,275

  • 11c · Fees: accounting

    total $36,953 · management and general $36,953

  • 11f · Fees: investment management

    total $85,081 · management and general $85,081

  • 11g · Fees: other

    total $86 · management and general $86

  • 13 · Office expenses

    total $7,466 · management and general $6,896 · fundraising $570

  • 16 · Occupancy

    total $13,961 · program services $13,961

  • 17 · Travel

    total $250 · program services $250

  • 22 · Depreciation, depletion and amortization

    total $7,475 · management and general $7,475

  • 23 · Insurance

    total $14,617 · program services $11,044 · management and general $3,573

  • 24a · Other expenses: MISCELLANEOUS EXPENSE

    total $60,279 · program services $30,402 · management and general $28,034 · fundraising $1,843

  • 24b · Other expenses: FUNDRAISING OPERATIONS

    total $18,886 · fundraising $18,886

  • 24c · Other expenses: REPAIRS AND MAINTENANCE

    total $15,936 · program services $15,936

  • 24d · Other expenses: ENTERTAINMENT EXPENSE

    total $1,496 · program services $1,496

  • 24e · All other expenses

    total $1,494 · fundraising $1,494

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $150,377 · end of year $72,748

  • 2 · Savings and temporary cash investments

    beginning of year $490,671 · end of year $129,904

  • 3 · Pledges and grants receivable

    beginning of year $310,202 · end of year $171,071

  • 9 · Prepaid expenses and deferred charges

    beginning of year $39,615 · end of year $9,021

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

    $10,819,396

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

    $2,713,671

  • 10c · Land, buildings and equipment, net

    beginning of year $8,323,061 · end of year $8,105,725

  • 11 · Investments: publicly traded securities

    beginning of year $29,056,937 · end of year $30,988,794

  • 12 · Investments: other securities

    beginning of year $3,425,658 · end of year $3,494,569

  • 15 · Other assets

    beginning of year $31,341 · end of year $13,230

  • 17 · Accounts payable and accrued expenses

    beginning of year $80,222 · end of year $46,370

  • 23 · Secured mortgages and notes payable

    beginning of year $3,394,083 · end of year $3,315,599

  • 25 · Other liabilities

    beginning of year $31,341 · end of year $24,085

  • 27 · Net assets without donor restrictions

    beginning of year $25,944,953 · end of year $26,875,415

  • 28 · Net assets with donor restrictions

    beginning of year $12,377,263 · end of year $12,723,593

Mission and programs · 2024

Mission

THE FOUNDATION'S PURPOSE IS TO SUPPORT THE MISSION OF THE SWCC COLLEGE AND TO HELP MEET THE NEEDS OF AND PROVIDE OPPORTUNITIES FOR STUDENTS, FACULTY AND STAFF BY STRIVING TO PROVIDE ECONOMIC STABILITY BY ASSISTING THE SWCC COLLEGE IN MEETING THE NEEDS OF TODAY AND THE CHALLENGES OF TOMORROW.

Activities or mission (Part I)

PROVIDE SCHOLARSHIPS TO STUDENTS AND SUPPORT THE COLLEGE AND VIRGINIA COMMUNITY COLLEGE SYSTEM.

  • SOUTHWEST VIRGINIA COMMUNITY COLLEGE EDUCATIONAL FOUNDATION, INC. PURPOSE IS TO SUPPORT THE MISSION OF THE SWCC COLLEGE AND TO HELP MEET THE NEEDS OF AND PROVIDE OPPORTUNITIES FOR STUDENTS, FACULTY AND STAFF BY STRIVING TO PROVIDE ECONOMIC STABILITY BY ASSISTING THE SWCC COLLEGE IN MEETING THE NEEDS OF TODAY AND THE CHALLENGES OF TOMORROW. EXPENSES HAVE BEEN ALLOCATED TO THE SWCC COLLEGE IF THEY ARE CORRELATED OR DIRECTLY PAID FOR THE SWCC COLLEGE'S ASSETS, ACTIVITIES, INCLUDING STAFF, STUDENTS, CLUBS, AND DIRECT OVERALL SUPPORT.

    Expenses $2,354,370 · Grants $2,354,370

  • THE FOUNDATION'S PROGRAM ACTIVITIES RELATE TO ITS DIRECTLY RELATED EXPENSES. THIS INCLUDES THE FOUNDATION'S OPERATIONS, INCLUDING PAYROLL AND OVERALL SUPPORT OF ITS OWN ASSETS AND ACTIVITIES. A MAJORITY OF THESE EXPENSES ARE FOR THE ACTIVITIES ON THE GRUNDY BOOTH CENTER AND THE APPALACHIAN ARTS CENTER, INCLUDING THE ALLOCATION OF DEPRECIATION.

    Expenses $104,089 · Revenue -$428,860

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • SCOTT BUTCHER

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • MARCO WARNER

    BOARD VICE-CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • DR VICKIE RATLIFF

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • JIM BOYD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • ANDY HROVATIC

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • LYNN KEENE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • FRAN MINTON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • TOM MULLINS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • CATHY PAYNE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • AJ ROBINSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • MARY JEFFRIES

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

  • STACEY MCGHEE

    EXECUTIVE DIRECTOR

    Total calculated
    $90,222
    From this org
    $0
    From related orgs
    $72,675
    Other
    $17,547
    Hours/week
    40

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
2024
Filed
30 January 2026
IRS schema version
2024v5.5
Source object
202620689349301902

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