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Nonprofiteer
← NEW RIVER COMMUNITY AND TECHNICAL COLLEGE FOUNDATION INC

Form 990 for tax year 2023

Filed by NEW RIVER COMMUNITY AND TECHNICAL COLLEGE FOUNDATION INC.

Totals

Total revenue
$431,277
Total expenses
$375,049
Contributions and grants received
$223,724
Grants paid
$279,786
Program service revenue
$0
Investment income
$165,595
Other revenue
$41,958
Total assets, end of year
$4,166,991
Total liabilities, end of year
$230,000
Net assets or fund balances, end of year
$3,936,991
Program services expenses (Part IX)
$326,647
Management and general expenses
$14,744
Fundraising expenses
$33,658
Program service expenses (Part III)
$326,647

Program services were 87.1% 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.

  • 1f · All other contributions, gifts and grants

    $223,724

  • 3 · Investment income

    total $165,595 · excluded $165,595

  • 8a · Fundraising events: gross income

    $82,972

  • 8b · Fundraising events: direct expenses

    $41,014

  • 8c · Net income from fundraising events

    total $41,958 · excluded $41,958

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $279,786 · program services $279,786

  • 5 · Compensation of officers, directors and key employees

    total $42,301 · program services $16,468 · management and general $8,312 · fundraising $17,521

  • 11c · Fees: accounting

    total $25,307 · program services $9,852 · management and general $4,973 · fundraising $10,482

  • 13 · Office expenses

    total $637 · program services $248 · management and general $125 · fundraising $264

  • 17 · Travel

    total $4,945 · program services $1,925 · management and general $972 · fundraising $2,048

  • 23 · Insurance

    total $1,842 · program services $717 · management and general $362 · fundraising $763

  • 24a · Other expenses: CONTRACT LABOR

    total $17,146 · program services $17,146

  • 24b · Other expenses: NIP CREDITS FEES

    total $2,580 · fundraising $2,580

  • 24c · Other expenses: CONTRIBUTIONS & SPONSOR

    total $505 · program services $505

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $440,878 · end of year $225,620

  • 3 · Pledges and grants receivable

    beginning of year $25,000 · end of year $25,000

  • 4 · Accounts receivable

    end of year $2,500

  • 11 · Investments: publicly traded securities

    beginning of year $1,770,698 · end of year $2,265,242

  • 15 · Other assets

    beginning of year $1,429,912 · end of year $1,648,629

  • 17 · Accounts payable and accrued expenses

    beginning of year $16,152 · end of year $17,500

  • 18 · Grants payable

    beginning of year $122,500 · end of year $212,500

  • 27 · Net assets without donor restrictions

    beginning of year $67,867 · end of year $98,430

  • 28 · Net assets with donor restrictions

    beginning of year $3,459,969 · end of year $3,838,561

Mission and programs · 2023

Mission

THE FOUNDAITON'S PURPOSE IS TO AID, STRENGTHEN, AND FURTHER IN EVERY PROPER WAY THE WORK AND SERVICES OF NEW RIVER COMMUNITY AND TECHNICAL COLLEGE, AN AGENCY OF THE STATE OF WEST VIGINIA. THE ORGANZATION IS OPERATED TO RECEIVE, HOLD, INVEST, AND ADMINSTER PROPERTY AND TO MAKE EXPENDITURES FOR THE BENEFIT OF NEW RIVER COMMUNITY & TECHNICAL COLLEGE AND ITS STUDENTS AND STAFF.

  • SCHOLARSHIPS FOR THE BENEFIT OF NEW RIVER COMMUNITY AND TECHNICAL COLLEGE AND BLUEFIELD STATE COLLEGE STUDENTS. SIGNIFICANT DONATED SERVICES ARE PROVIDED TO THE FOUNDATION BY NEW RIVER COMMUNITY AND TECHNICAL COLLEGE IN THE FORM OF PERSONNEL WHO OPERATE THE FOUNDATION, OFFICE SPACE AND GENERAL OPERATING SUPPLIES. THIS BENEFITS THIS PROGRAM.

    Expenses $326,647 · Grants $279,786

  • INDIRECT EXPENSES ALLOCATED TO THE FUNCTION OF STUDENT SUPPORT AND PROGRAM SERVICES.

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

Listed in Part VII

  • MICHAEL GREEN

    EXECUTIVE DI

    Total calculated
    $157,121
    From this org
    $42,301
    From related orgs
    $108,397
    Other
    $6,423
    Hours/week
    20

    Schedule J breakdown matched by us

    Base
    $42,301 + $108,397 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $6,423 related
    Nontaxable benefits
    not reported
    Filer's total
    $42,301 + $114,820 related

  • LESLIE BAKER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • CAROL COLE

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • ANN FORT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • DR KYLE FORT

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • DANIEL HALL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • EDWARD D KNIGHT III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • DR MARK C KILCOLLIN

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • CHESSICA LUCKY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • DR PAT MCHALE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • STEPHEN P NEW

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • SHARON ROWE

    VICE CHAIR

    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

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
3 February 2025
IRS schema version
2023v6.0
Source object
202510359349300731

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