Form 990 for tax year 2023

Totals

Total revenue

$870,217

Total expenses

$327,257

Contributions and grants received

$524,027

Grants paid

$256,368

Program service revenue

$0

Investment income

$296,461

Other revenue

$49,729

Total assets, end of year

$8,902,283

Total liabilities, end of year

$0

Net assets or fund balances, end of year

$8,902,283

Program services expenses (Part IX)

$256,457

Management and general expenses

$69,907

Fundraising expenses

$893

Program service expenses (Part III)

$256,457

Program services were 78.4% 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.

Mission and programs · 2023

• New Century Scholars (NCS) Program, funded solely by private gifts, is designed to improve school graduation and increase the college going rate of local students. It is a last dollar scholarship program. Over 2,556 students have been inducted into New Century Scholars since 1995. In addition to working toward their high school diplomas, New Century Scholars are expected to participate in community service activities, develop leadership skills, explore potential career options and prepare for success in college. . NCS Highlights: -The NCS program gives Southwestern Community and the public schools an opportunity to collaborate on behalf of student success in our region.

  Expenses $256,457 · Grants $256,368

• -School based selection committees meet annually to select rising 7th graders with high potential from the applicant pool. -NCS provides guaranteed, last-dollar tuition assistance to pursue a degree at SCC. -Students, parents, public schools and SCC sign agreements committing to specfic standards/support. -Community businesses, individuals and groups generously provide funding to induct new cohorts of New Century Scholars. . The programs funding is generated by annual donations from residents of Jackson, Macon and Swain Counties. https://www.southwesterncc.edu/new-century-scholars

• General Scholarship Support: Southwestern Community College Foundation was established in 1973. It exists solely to support the mission of SCC and is governed by a Board of Directors. The foundation receives unrestricted gifts through the Southwestern Community College Annual Fund, a yearly campaign to support students and the mission of the College. In addition, the foundation solicits contributions from individuals, foundations and companies to establish endowed Named Scholarships, as well as provide Annual Scholarships. For the year 2023-24, 224 Scholarships were awarded at a value of $259,000. . Financial gifts to the Foundation allow SCC to maintain a level of excellence beyond that provided by state and local financial support. These gifts help fund many of the essentials of education, and allow SCC to keep pace with the ever expanding needs of our community. It also enables us to support our faculty and staff in a number of ways resulting in teaching and student support excellence. Gala: The Boots, Blue Jeans & Bling annual SCC Gala has raised, since 2014, in excess of $750,000.00 for student scholarships. The Gala has become the preeminent fundraising event in our service region. In 2023, we changed the seating layout from 8 top tables to 10 top tables giving us the ability to accommodate more guests. Due to this change, 568 guests attended the Sold-Out event held in the Events Center, presented by generous benefactor, Harrahs Cherokee Casino Resorts. In 2023, over $159,000 was raised for student scholarships. We plan to return to the Events Center for our 2024 Gala which is already scheduled for September 28. https://www.southwesterncc.edu/news/once-again-annual-gala-breaks-records

As filed on the 2023 return.

Listed in Part VII

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.

• Southwestern Community College

  Govt · Higher Education · NC

  Directly controlled by none

Provenance

Return type

form_990

Tax year

2023

Filed

28 March 2025

IRS schema version

2023v6.0

Source object

202520909349301037

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