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Nonprofiteer
← GATEWAY TECHNICAL COLLEGE FOUNDATION INC

Form 990 for tax year 2022

Filed by GATEWAY TECHNICAL COLLEGE FOUNDATION INC.

Totals

Total revenue
$1,603,732
Total expenses
$1,056,824
Contributions and grants received
$663,661
Grants paid
$802,937
Program service revenue
$0
Investment income
$735,981
Other revenue
$204,090
Total assets, end of year
$20,044,353
Total liabilities, end of year
$272,493
Net assets or fund balances, end of year
$19,771,860
Program services expenses (Part IX)
$893,561
Management and general expenses
$124,821
Fundraising expenses
$38,442
Program service expenses (Part III)
$893,561

Program services were 84.6% 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.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $663,661

  • 1g · Noncash contributions included above

    $11,773

  • 3 · Investment income

    total $735,981 · excluded $735,981

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6a · Gross rents

    real property $157,838

  • 6b · Less rental expenses

    real property $57,181

  • 6c · Rental income or loss

    real property $100,657

  • 6d · Net rental income or loss

    total $100,657 · excluded $100,657

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $121,552

  • 8b · Fundraising events: direct expenses

    $18,119

  • 8c · Net income from fundraising events

    total $103,433

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $140,626 · program services $140,626

  • 2 · Grants to domestic individuals

    total $662,311 · program services $662,311

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $36,000 · program services $36,000

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $320 · program services $320

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $27,143 · management and general $27,143

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $391 · program services $391

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $587 · program services $587

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $9,057 · management and general $9,057

  • 24a · Other expenses: TRUST FEES

    total $84,748 · management and general $84,748

  • 24b · Other expenses: ADD'L SUPPORT COLLEGE-BLDG TRS

    total $28,218 · program services $28,218

  • 24c · Other expenses: SUBSCRIPTION SOFTWARE

    total $18,103 · program services $499 · management and general $600 · fundraising $17,004

  • 24d · Other expenses: FOOD FOR EVENTS & MEETINGS

    total $10,361 · program services $7,847 · management and general $358 · fundraising $2,156

  • 24e · All other expenses

    total $38,959 · program services $16,762 · management and general $2,915 · fundraising $19,282

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $92,265 · end of year $342,642

  • 2 · Savings and temporary cash investments

    beginning of year $507,820 · end of year $562,718

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,362 · end of year $5,253

  • 10a · Land, buildings and equipment: cost or other basis

    $650,666

  • 10b · Land, buildings and equipment: accumulated depreciation

    $96,436

  • 10c · Land, buildings and equipment, net

    beginning of year $639,464 · end of year $554,230

  • 11 · Investments: publicly traded securities

    beginning of year $13,807,926 · end of year $16,197,931

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $3,607,813 · end of year $2,381,579

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,027 · end of year $81,181

  • 25 · Other liabilities

    beginning of year $124,343 · end of year $191,312

  • 27 · Net assets without donor restrictions

    beginning of year $1,206,140 · end of year $1,465,311

  • 28 · Net assets with donor restrictions

    beginning of year $17,330,140 · end of year $18,306,549

Mission and programs · 2022

Mission

THE GATEWAY TECHNICAL COLLEGE FOUNDATION SUPPORTS THE MISSION OF THE COLLEGE BY RAISING COMMUNITY AWARENESS AND FINANCIAL RESOURCES, BROADENING ITS BASE OF SUPPORT AND PROVIDING PROGRAMS SUCH AS SCHOLARSHIPS, GRANTS AND FUNDS FOR EDUCATIONAL GROWTH. THE FOUNDATION WILL ENHANCE THE COLLEGE'S TRADITION OF EXCELLENCE BY BEING RESPONSIVE TO ITS NEEDS AND STRENGTHENING THE VITALITY AND WELL-BEING OF THE DIVERSE COMMUNITIES IT SERVES.

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $659,768 · Grants $659,768

  • BUILDING AND CAPITAL FUNDING GRANTED TO THE COLLEGE STEM 101 CUSTOMIZED HEALTH CAREER KIT, OTHER SUPPLIES, MARKETING, EVENTS AND MEETINGS

    Expenses $231,251 · Grants $140,626

  • FRESH START TO FINISH - THIS PROGRAM OFFERS A PRIOR DEBT FORGIVNESS FOR QUALIFIED STUDENTS TO REDUCE THIS FINANCIAL BARRIER TO STUDENT SUCCESS.

    Expenses $1,481 · Grants $1,481

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • JENNIFER CHARPENTIER

    Executive Dir.

    Total calculated
    $122,946
    From this org
    $0
    From related orgs
    $94,924
    Other
    $28,022
    Hours/week
    40 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $94,924 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $28,022 related
    Filer's total
    not reported + $122,946 related

  • AMANDA FALVEY

    Director

    Total calculated
    $0
    Hours/week
    1

  • JANE KURYLO

    Director

    Total calculated
    $0
    Hours/week
    1

  • JOHN D ANDREOLI

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • THOMAS P MAHONEY

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • BRUCE BATTERSBY

    Director

    Total calculated
    $0
    Hours/week
    1

  • ANITA R CRUISE

    Director

    Total calculated
    $0
    Hours/week
    1

  • JODY HART

    Director

    Total calculated
    $0
    Hours/week
    1

  • RITU RAJU

    EX-OFFICIO

    Total calculated
    $0
    Hours/week
    1

  • MATT KIRCHNER

    Director

    Total calculated
    $0
    Hours/week
    1

  • BRYAN ALBRECHT

    EX-OFFICIO DIR

    Total calculated
    $0
    Hours/week
    0

  • MARK MOLINARO JR

    Chairman

    Total calculated
    $0
    Hours/week
    1

  • JOHN KIVLIN

    Director

    Total calculated
    $0
    Hours/week
    1

  • MARK NAIDICZ

    Director

    Total calculated
    $0
    Hours/week
    1

  • FREDERICK GANAWAY

    Director

    Total calculated
    $0
    Hours/week
    1

  • GEORGANN S STINSON

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • STEPHANIE SKLBA

    EX-OFFICIO DIR

    Total calculated
    $0
    Hours/week
    1

  • SHARON JOHNSON

    EX-OFFICIO

    Total calculated
    $0
    Hours/week
    1

  • SARAH STEHLY

    Director

    Total calculated
    $0
    Hours/week
    1

  • MICHELE RANDALL

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • ZAIDA HERNANDEZ

    EX OFFICIO

    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

  • 3 · Written employment contract

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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202441369349319199

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