Form 990 for tax year 2024

Totals

Total revenue

$1,098,590

Total expenses

$398,831

Contributions and grants received

$597,563

Grants paid

$287,297

Program service revenue

$0

Investment income

$498,061

Other revenue

$2,966

Total assets, end of year

$10,185,942

Total liabilities, end of year

$0

Net assets or fund balances, end of year

$10,185,942

Program services expenses (Part IX)

$333,478

Management and general expenses

$64,172

Fundraising expenses

$1,181

Program service expenses (Part III)

$333,478

Program services were 83.6% 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 · 2024

• Hurricane Helene Relief Effort: Western North Carolina is still rebuilding from the devastation of Hurricane Helene in September 2024. Several SCC students lost family members, possessions, and even their homes during the storm. Despite communication and power outages throughout the region, SCC joined with local communities to raise and distribute over $50,000 to students in need. Many of these students have said that, without these funds, they would not have been able to continue their education.

  Expenses $333,478 · Grants $287,297

• 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 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 academic year 2025/2026, 264 student scholarships were awarded at a value of over $418,000, a 58% increase from the previous year. This is the third year in a row that we have broken previous records. 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 several ways, resulting in teaching and student support excellence. Gala: Since 2014, the annual SCC Boots, Blue Jeans & Bling Gala has raised more than $900,000 for student scholarships. The Gala has become the preeminent fundraising event in our service region. We are thrilled to report that this event has sold out for the past two years. This special evening is held in the Event Center presented by generous benefactor, Harrahs Cherokee Casino Resorts. In 2024, over $164,000 was raised for student scholarships, a 3% increase from the previous year. We are returning to the Event Center for our next Gala, which is scheduled for September 27.

As filed on the 2024 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

2024

Filed

12 May 2026

IRS schema version

2024v5.2

Source object

202601349349303260

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