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Nonprofiteer
← OTERO COLLEGE FOUNDATION

Form 990 for tax year 2022

Filed by OTERO COLLEGE FOUNDATION.

Totals

Total revenue
$265,611
Total expenses
$259,246
Contributions and grants received
$214,769
Grants paid
$0
Program service revenue
$0
Investment income
$8,764
Other revenue
$42,078
Total assets, end of year
$2,336,399
Total liabilities, end of year
$698,089
Net assets or fund balances, end of year
$1,638,310
Program services expenses (Part IX)
$190,982
Management and general expenses
$62,586
Fundraising expenses
$5,678
Program service expenses (Part III)
$190,982

Program services were 73.7% 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

    $214,769

  • 3 · Investment income

    total $8,764 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $42,078

  • 6c · Rental income or loss

    real property $42,078

  • 6d · Net rental income or loss

    total $42,078 · related or exempt $42,078

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $3,875 · program services $0 · management and general $3,875 · fundraising $0

  • 12 · Advertising and promotion

    total $2,009 · program services $2,009 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $3,768 · program services $0 · management and general $3,768 · fundraising $0

  • 20 · Interest

    total $12,451 · program services $0 · management and general $12,451 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $27,641 · program services $0 · management and general $27,641 · fundraising $0

  • 23 · Insurance

    total $14,851 · program services $0 · management and general $14,851 · fundraising $0

  • 24a · Other expenses: SCHOLARSHIPS

    total $147,602 · program services $147,602 · management and general $0 · fundraising $0

  • 24b · Other expenses: FUND RAISING EVENTS

    total $5,678 · program services $0 · management and general $0 · fundraising $5,678

  • 24c · Other expenses: ATHLETIC PROGRAM SUPPORT

    total $41,371 · program services $41,371 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,246,884 · end of year $1,342,333

  • 4 · Accounts receivable

    beginning of year $1,160 · end of year $850

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,305 · end of year $7,509

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

    $1,145,657

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

    $173,777

  • 10c · Land, buildings and equipment, net

    beginning of year $999,521 · end of year $971,880

  • 11 · Investments: publicly traded securities

    beginning of year $65,029 · end of year $13,827

  • 17 · Accounts payable and accrued expenses

    beginning of year $877 · end of year $64,441

  • 21 · Escrow or custodial account liability

    beginning of year $236,190 · end of year $209,790

  • 23 · Secured mortgages and notes payable

    beginning of year $450,887 · end of year $423,858

  • 27 · Net assets without donor restrictions

    beginning of year $891,510 · end of year $748,931

  • 28 · Net assets with donor restrictions

    beginning of year $740,435 · end of year $889,379

Mission and programs · 2022

Mission

FOUNDATION FUNDRAISING ACTIVITIES SUPPORTING OTERO COLLEGE

  • DEVELOPMENT AND SUSTAINING SCHOLARSHIP OPPORTUNITIES FOR STUDENTS OF OTERO COLLEGE. THE COLLEGE HAS IMPLEMENTED SEVERAL SCHOLARSHIP PROGRAMS INCLUDING THE PRESIDENT'S LEADERSHIP PROGRAM, AGRICULTURAL SCIENCES AND PRODUCTION PRPGRAMS, AS WELL AS AN ALLIED HEALTH SCHOLARSHIP PROGRAM TO ASSIST CANIDATES IN THE SUCCESSFUL COMPLETION OF NURSING AND MEDICAL LABORATORY TECHNICIAN, HEALTH NAVIGATOR, AND VARIOUS ADDITIONAL PROFESSIONS IN THE HEALTH CARE FIELD. SCHOLARSHIP RECIPIENTS ARE CHOSEN COMPETITIVELY BASED ON COMMUNITY SERVICE, CITIZENSHIP, INTERVIEWS, ACADEMIC PERFORMANCE, AND DESIRE TO BE SUCCESSUL. THE FOUNDATION HAS EMBRACED THESE PROGRAMS AND DEVELOPED FUND RAISING EVENTS TO GENERATE FUNDING TO SUPPORT THE SCHOLARSHIP AWARDS.

    Expenses $147,602 · Revenue $147,602

  • THE FOUNDATION ASSISTS WITH FUND RAISING THAT SUPPORTS THE OTERO COLLEGE ATHLETIC PROGRAMS VIA DIRECT PROGRAM SUPPORT AS WELL AS SCHOLARSHIP FUNDING FOR STUDENT ATHLETES. MANY OF THE COLLEGE'S STUDENT ATHLETES ARE SUCCESSFUL ON THE FIELD OF PLAY OR COURT AS WELL AS IN THE CLASSROOM IN THAT THE COLLEGE HAS NUMEROUS ACADEMIC ALL- AMERICANS THAT ARE CHOSEN BY THE NATIONAL JUNIOR COLLEGE ATHLETIC ASSOCIATION BASED ON OUTSTANDING PERFORMANCE IN THE CLASSROOM AND EXCEPTIONAL ATHLETIC CONTRIBUTIONS.

    Expenses $41,371 · Revenue $41,371

  • THE FOUNDATION CONTINUES TO DEVELOP NEW AND ENHANCE EXISTING FUND RAISING PROJECTS TO GENERATE FUNDS TO BENEFIT PRIMARILY STUDENTS ATTENDING OTERO COLLEGE.

    Expenses $2,009 · Revenue $2,009

As filed on the 2022 return.

Listed in Part VII

  • Betty Velasquez

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Brandon McCuistion

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Knapp

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Karen Tomky

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sharon Kolomitz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dillon Martin

    FOUNDATION MANAGER

    Total calculated
    $0
    Hours/week
    2

  • Seth Franzman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • James Rizzuto

    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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202343189349318389

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