Form 990 for tax year 2023
Filed by VIRGINIA FOUNDATION FOR COMMUNITY COLLEGE EDUCATION.
Totals
- Total revenue
- $5,247,332
- Total expenses
- $5,733,792
- Contributions and grants received
- $4,212,956
- Grants paid
- $3,817,296
- Program service revenue
- $0
- Investment income
- $1,034,376
- Other revenue
- $0
- Total assets, end of year
- $17,135,891
- Total liabilities, end of year
- $2,003,667
- Net assets or fund balances, end of year
- $15,132,224
- Program services expenses (Part IX)
- $4,605,312
- Management and general expenses
- $596,790
- Fundraising expenses
- $531,690
- Program service expenses (Part III)
- $4,605,312
Program services were 80.3% 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.
-
1e · Government grants (contributions)
$364,772
-
1f · All other contributions, gifts and grants
$3,848,184
-
1g · Noncash contributions included above
$658,773
-
3 · Investment income
total $422,701 · excluded $422,701
-
7a · Gross sales of assets other than inventory
securities $6,634,446
-
7b · Less cost or other basis and sales expenses
securities $6,022,771
-
7c · Gain or loss
securities $611,675
-
7d · Net gain or loss
total $611,675 · excluded $611,675
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $2,285,817 · program services $2,285,817
-
2 · Grants to domestic individuals
total $1,531,479 · program services $1,531,479
-
7 · Other salaries and wages
total $934,754 · program services $109,086 · management and general $404,559 · fundraising $421,109
-
11c · Fees: accounting
total $23,575 · management and general $23,575
-
11d · Fees: lobbying
total $270,000 · program services $270,000
-
11f · Fees: investment management
total $68,010 · management and general $68,010
-
11g · Fees: other
total $237,805 · program services $180,740 · management and general $1,065 · fundraising $56,000
-
12 · Advertising and promotion
total $82,252 · program services $50,978 · management and general $3,450 · fundraising $27,824
-
13 · Office expenses
total $49,664 · program services $46,656 · management and general $2,933 · fundraising $75
-
19 · Conferences, conventions and meetings
total $209,476 · program services $128,104 · management and general $74,141 · fundraising $7,231
-
24a · Other expenses: CULTIVATION - STEWARDSH
total $19,873 · program services $422 · fundraising $19,451
-
24b · Other expenses: ADMINISTRATIVE EXPENSES
total $19,837 · program services $2,030 · management and general $17,807
-
24c · Other expenses: OTHER EXPENSES
total $1,250 · management and general $1,250
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $4,317,932 · end of year $4,261,682
-
3 · Pledges and grants receivable
beginning of year $719,966 · end of year $826,159
-
4 · Accounts receivable
beginning of year $114,439 · end of year $45,631
-
11 · Investments: publicly traded securities
beginning of year $8,837,144 · end of year $6,798,809
-
12 · Investments: other securities
beginning of year $1,501,597 · end of year $5,203,610
-
17 · Accounts payable and accrued expenses
beginning of year $626,301 · end of year $626,751
-
25 · Other liabilities
beginning of year $10,634 · end of year $1,376,916
-
27 · Net assets without donor restrictions
beginning of year $4,051,366 · end of year $4,075,548
-
28 · Net assets with donor restrictions
beginning of year $10,802,777 · end of year $11,056,676
Mission and programs · 2023
Mission
THE VIRGINIA FOUNDATION FOR COMMUNITY COLLEGE EDUCATION (VFCCE) MISSION IS BUILDING STUDENT SUCCESS AND THE COMMONWEALTH'S FUTURE BY SUPPORTING VIRGINIA'S COMMUNITY COLLEGES. VFCCE PROVIDES STATEWIDE LEADERSHIP IN RAISING FUNDS FOR COMMUNITY COLLEGE STUDENTS, SUPPLEMENTING THE ACTIVITIES OF THE 23 COLLEGES AND SECURING SUPPORT FOR SYSTEM-WIDE INITIATIVES THAT COULD NOT BE UNDERTAKEN BY ANY SINGLE COLLEGE.
Activities or mission (Part I)
TO PROVIDE ACCESS TO EDUCATION & ENSURE SUCCESS FOR ALL STUDENTS, REGARDLESS OF BACKGROUND.
-
SCHOLARSHIPS SINCE 2006, THE FOUNDATION HAS SUPPORTED HUNDREDS OF STUDENTS ACROSS VIRGINIA'S 23 COMMUNITY COLLEGES THROUGH ITS SCHOLARSHIPS AND FELLOWSHIPS PROGRAM. THANKS TO OUR GENEROUS PARTNERS, THE VFCCE HAS AWARDED MORE THAN $6 MILLION IN SCHOLARSHIPS, HELPING STUDENTS INCREASE THEIR CHANCES OF SUCCESS. FOR THE 2023 -24 ACADEMIC YEAR, 103 SCHOLARSHIPS WERE AWARDED, TOTALING $458,566. THE PRESTIGIOUS FELLOWS PROGRAM AWARDS HIGH-ACHIEVING SECOND-YEAR STUDENTS WITH FULL SCHOLARSHIP SUPPORT TO COMPLETE ASSOCIATE DEGREES AND DEVELOP LEADERSHIP SKILLS THROUGH A COHORT MODEL. SINCE ITS LAUNCH IN 2011, 320 STUDENTS HAVE RECEIVED FINANCIAL SUPPORT, MENTORING, AND LEADERSHIP TRAINING THROUGH THE FELLOWS PROGRAM. COLLEGE ATTAINMENT FOR PARENT STUDENTS (CAPS)THE VIRGINIA FOUNDATION FOR COMMUNITY COLLEGE EDUCATION (VFCCE) LAUNCHED A CRITICAL INITIATIVE IN 2023 TO SUPPORT SINGLE PARENTS FROM LOW-INCOME BACKGROUNDS AS THEY PURSUE COLLEGE. THE COLLEGE ATTAINMENT FOR PARENT STUDENTS (CAPS) PROGRAM ADVANCES A TWO-GENERATION, ANTI-POVERTY SOLUTION THAT INCREASES EMPLOYMENT AND INCOME OPPORTUNITIES BY PROVIDING COMPREHENSIVE COACHING SERVICES AND TARGETED FINANCIAL ASSISTANCE. THE PILOT PROGRAM SERVED 100 PARENT STUDENTS ACROSS FIVE COLLEGES PROVIDING DIRECT STUDENT SUPPORT THROUGH A COHORT MODEL AND HELPED TO IDENTIFY STRUCTURAL CHALLENGES THAT ARE HINDERING PARENT-STUDENT SUCCESS. CAPS WILL BE RELAUNCHED IN FALL 2025 TO ENGAGE MORE COLLEGES AND SUPPORT MORE PARENT STUDENTS STATEWIDE.
Expenses $2,093,478 · Grants $1,782,340
-
THE GREAT EXPECTATIONS PROGRAM HELPS YOUNG PEOPLE WHO HAVE NAVIGATED THE FOSTER CARE SYSTEM COMPLETE HIGH SCHOOL, GAIN ACCESS AND SUCCEED IN COLLEGE, AND TRANSITION SUCCESSFULLY TO LIVING INDEPENDENTLY. SINCE THE PROGRAM BEGAN 16 YEARS AGO, 4,856 STUDENTS HAVE PARTICIPATED AND 1,062 HAVE EARNED A DEGREE, CREDENTIAL, OR CERTIFICATE.GREAT EXPECTATIONS STUDENTS HAVE ALMOST TRIPLED THE AVERAGE COLLEGE GRADUATION RATE FOR FOSTER YOUTH, WITH 22% OF GE STUDENTS OBTAINING A COLLEGE CREDENTIAL COMPARED TO ONLY 8% WHO GRADUATE NATIONALLY.
Expenses $772,979 · Grants $693,325
-
THE RURAL VIRGINIA HORSESHOE INITIATIVE (RVHI), ESTABLISHED IN 2014, HAS BEEN RENAMED TO THE GERALD L. BALILES RURAL VIRGINIA HORSESHOE INITIATIVE AWARD CONTINUING THE MISSION TO RAISE EDUCATIONAL ATTAINMENT LEVELS FOR STUDENTS IN RURAL VIRGINIA. RVHI PROVIDES CAREER COACHES IN RURAL HIGH SCHOOLS TO ENCOURAGE HIGH SCHOOL AND COLLEGE COMPLETION AND OFFERS FINANCIAL INCENTIVES AND TO ASSIST ADULT LEARNERS RETURN TO HIGHER EDUCATION AND TRAINING.FOURTEEN RURAL COMMUNITY COLLEGES PARTICIPATE IN THE PROGRAM. THE PROGRAM HAS TWO 10-YEAR GOALS. ONE IS TO REDUCE THE NUMBER OF RESIDENTS OF THE RURAL HORSESHOE REGION THAT HAVE NOT EARNED A HIGH SCHOOL DIPLOMA BY HALF, FROM 20% TO 10%. SINCE 2012, THAT METRIC HAS LOWERED TO 11.9%. THE OTHER IS TO DOUBLE THE POPULATION IN THE RURAL HORSESHOE WITH AN ASSOCIATE DEGREE OR CAREER CERTIFICATION. IN 2012, THAT PERCENTAGE WAS 26%. AS OF THIS REPORT, THAT METRIC IS UP TO 53.9%.SINCE THE PROGRAM'S INCEPTION, 91,546 STUDENTS WERE SERVED BY 28 HIGH SCHOOL CAREER COACHES, EITHER ON A ONE-TO-ONE BASIS, OR IN SMALL GROUPS. THANKS TO ENGAGED DONORS, THE VFCCE PROVIDES MATCH FUNDING THAT IS LEVERAGED BY LOCAL COLLEGE FOUNDATIONS TO SUPPORT THE PROGRAM.
Expenses $671,025 · Grants $670,952
-
Expenses $1,067,830 · Grants $670,679
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
GAYE MONTGOMERY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
ANNA JAMES
TREASURER
- Total calculated
- $0
- Hours/week
- 1.5
-
BEN DAVENPORT JR
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 1.5
-
CAROLINE PETTERS SAUER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
CEDRIC GREEN
SECRETARY
- Total calculated
- $0
- Hours/week
- 1.5
-
CHRIS FRENCH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DAVID DORE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DARREN CONNER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
FRED THOMPSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
WILLIAM HAZEL JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
ED DALRYMPLE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
SALLY CALDWELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
AMY HENECKE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
JENNIE REYNOLDS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
JENNIFER SAGER GENTRY
DIRECTOR; EXECUTIVE DIRECT
- Total calculated
- $0
- Hours/week
- 35
-
JOHN J RAINONE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
JULIA GILLIAM STERLING
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
JUSTIN BALLARD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
LEAH FRIED SEDWICK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MARY MORRIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MAURICE JONES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
PHILIP H GOODPASTURE GENERAL COUNSE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
RONALD H HOLMES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
MICHAEL O'KANE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
XAVIER BEALE
DIRECTOR
- 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.
Grants on this return
-
VIRGINIA COMMUNITY COLLEGE SYSTEM
$288,209
TO SUPPORT THE MELLON AND WORKFORCE PROGRAMS.
-
TO SUPPORT VA INFRASTRUCTURE ACADEMY, STUDENT EMERGENCY, CAPS AND GREAT EXPECTATIONS PROGRAMS.
-
$159,274
TO SUPPORT THE MELLON PROGAM.
-
TO SUPPORT THE MELLON PROGRAM.
-
TO SUPPORT STUDENT EMERGENCY AND GREAT EXPECTATION PROGRAMS.
-
MOUNTAIN GATEWAY COMMUNITY COLLEGE
$115,445
TO SUPPORT RURAL VIRGINIA HORSESHOE INITIATIVE AND GREAT EXPECTATIONS PROGRAM.
-
TO SUPPORT THE RURAL VIRGINIA HORSESHOE INIATIVE, STUDENT EMERGENCY AND GREAT EXPECTATION PROGRAMS.
-
TO SUPPORT THE RURAL VIRGINIA HORSESHOE INITIATIVE, STUDENT EMERGENCY AND GREAT EXPECTATION PROGRAMS.
-
$95,000
TO SUPPORT THE SKILLED TRADES TRAINING PROGRAM.
-
TO SUPPORT THE RURAL VIRGINIA HORSESHOE INIATIVE, STUDENT EMERGENCY AND GREAT EXPECTATION PROGRAMS.
The 10 largest by cash amount. The API serves every itemized grant.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 12 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202501349349309655
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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