Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $61,114

• 1d · Related organizations

  $356,261

• 1f · All other contributions, gifts and grants

  $1,253

• 3 · Investment income

  total $88,372 · excluded $88,372

• 7a · Gross sales of assets other than inventory

  securities $1,462,973

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

  securities $1,192,764

• 7c · Gain or loss

  securities $270,209

• 7d · Net gain or loss

  total $270,209 · excluded $270,209

• 8a · Fundraising events: gross income

  $13,229

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

  $61,114

• 8b · Fundraising events: direct expenses

  $13,229

• 8c · Net income from fundraising events

  total $0

• 11a · Other revenue: PAYMENTS FROM WCCC

  total $301,441 · related or exempt $301,441

• 11e · Other revenue, total

  $301,441

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $101,576 · program services $101,576

• 11f · Fees: investment management

  total $354 · management and general $354

• 11g · Fees: other

  total $8,830 · fundraising $8,830

• 13 · Office expenses

  total $1,025 · management and general $1,025

• 14 · Information technology

  total $89,332 · management and general $89,332

• 17 · Travel

  total $482 · management and general $482

• 24a · Other expenses: SHARED SERVICES

  total $356,261 · management and general $356,261

• 24b · Other expenses: INSTRUCTIONAL EQUIPMENT

  total $41,516 · management and general $41,516

• 24c · Other expenses: MISC

  total $24,666 · management and general $24,666

• 24d · Other expenses: TELECOMMUNICATIONS

  total $12,161 · management and general $12,161

• 24e · All other expenses

  total $6,967 · management and general $6,967

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $3,317,023 · end of year $4,123,046

• 3 · Pledges and grants receivable

  beginning of year $290,296 · end of year $23,255

• 9 · Prepaid expenses and deferred charges

  end of year $2,636

• 11 · Investments: publicly traded securities

  beginning of year $3,421,378 · end of year $3,542,954

• 17 · Accounts payable and accrued expenses

  end of year $93,098

• 25 · Other liabilities

  beginning of year $611,307 · end of year $798,135

• 27 · Net assets without donor restrictions

  beginning of year $618,779 · end of year $1,160,079

• 28 · Net assets with donor restrictions

  beginning of year $5,798,611 · end of year $5,640,579

The filer's explanations (Part III)

PART I, LINE 3

ALL COMPENSATION FOR THE WESTMORELAND COUNTY COMMUNITY COLLEGE EDUCATION FOUNDATION, INC. EXECUTIVE DIRECTOR, COORDINATOR AND SECRETARY IS ESTABLISHED AND PAID BY THE WESTMORELAND COUNTY COMMUNITY COLLEGE. THE COMPENSATION FOR THESE POSITIONS REQUIRES BOARD APPROVAL ON AN ANNUAL BASIS. THE COMPENSATION FOR DR. TUESDAY STANLEY, PRESIDENT OF THE WESTMORELAND COUNTY COMMUNITY COLLEGE (WCCC), IS SET BY THE WCCC BOARD OF TRUSTEES. IT IS BASED ON A SURVEY OF PRESIDENTS SALARIES AT LIKE INSTITUTIONS. THE SALARY IS A COMPONENT ALONG WITH THE VALUE OF WCCC'S BENEFITS TO PROVIDE A COMPETITIVE TOTAL COMPENSATION PACKAGE.