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← DELAWARE TECHNICAL & COMMUNITY COLLEGE EDUCATIONAL FOUNDATION 866

Form 990 for tax year 2022

Filed by DELAWARE TECHNICAL & COMMUNITY COLLEGE EDUCATIONAL FOUNDATION 866.

Totals

Total revenue
$2,759,171
Total expenses
$1,892,697
Contributions and grants received
$1,680,841
Grants paid
$1,792,427
Program service revenue
$0
Investment income
$962,637
Other revenue
$115,693
Total assets, end of year
$33,965,936
Total liabilities, end of year
$234,720
Net assets or fund balances, end of year
$33,731,216
Program services expenses (Part IX)
$1,792,427
Management and general expenses
$100,270
Fundraising expenses
$0
Program service expenses (Part III)
$1,792,427

Program services were 94.7% 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

    $1,680,841

  • 3 · Investment income

    total $739,623 · excluded $739,623

  • 7a · Gross sales of assets other than inventory

    securities $3,715,456

  • 7b · Less cost or other basis and sales expenses

    securities $3,492,442

  • 7c · Gain or loss

    securities $223,014

  • 7d · Net gain or loss

    total $223,014 · related or exempt $223,014

  • 8a · Fundraising events: gross income

    $192,071

  • 8b · Fundraising events: direct expenses

    $76,378

  • 8c · Net income from fundraising events

    total $115,693 · excluded $115,693

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,792,427 · program services $1,792,427

  • 11c · Fees: accounting

    total $64,199 · management and general $64,199

  • 24a · Other expenses: COLLEGE-WIDE SUPPORT

    total $36,071 · management and general $36,071

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,753,382 · end of year $2,470,234

  • 3 · Pledges and grants receivable

    beginning of year $2,301,677 · end of year $470,528

  • 9 · Prepaid expenses and deferred charges

    beginning of year $38,279 · end of year $33,082

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

    $981,667

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $981,667 · end of year $981,667

  • 11 · Investments: publicly traded securities

    beginning of year $33,192,833 · end of year $28,957,664

  • 12 · Investments: other securities

    beginning of year $5,865 · end of year $2,629

  • 15 · Other assets

    beginning of year $1,050,132 · end of year $1,050,132

  • 17 · Accounts payable and accrued expenses

    beginning of year $73,240 · end of year $196,928

  • 25 · Other liabilities

    beginning of year $41,805 · end of year $37,792

  • 27 · Net assets without donor restrictions

    beginning of year $22,044,852 · end of year $17,293,630

  • 28 · Net assets with donor restrictions

    beginning of year $17,163,938 · end of year $16,437,586

Mission and programs · 2022

Mission

TO PROVIDE FINANCIAL ASSISTANCE TO DELAWARE TECHNICAL & COMMUNITY COLLEGE

  • AWARDS AND DONATIONS TO DELAWARE TECHNICAL & COMMUNITY COLLEGE FOR SUPPORT, EQUIPMENT, & IMPROVEMENT PURPOSES

    Expenses $968,764 · Grants $968,764

  • SCHOLARSHIPS

    Expenses $823,663 · Grants $823,663

As filed on the 2022 return.

Listed in Part VII

  • Nancy J Shevock

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0

  • Patti A Grimes

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    0

  • Michael J Hare

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Robert E Hagerty

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Lolita A Lopez

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Diane F Glenn

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • W Charles Paradee III

    SPECIAL TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • James B Porter Jr

    SPECIAL TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Thomas St John

    SPECIAL TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Cindy L Szabo Esq

    SPECIAL TRUSTEE

    Total calculated
    $0
    Hours/week
    0

  • Brigadier Gen Ernest G Talbertjr

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Dr Mark Brainard

    PRESIDENT

    Total calculated
    $303,333
    From this org
    $3,371
    From related orgs
    $290,713
    Other
    $9,249
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $3,371 + $265,676 related
    Bonus
    $0
    Other
    $0 + $25,037 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $9,249 related
    Filer's total
    $3,371 + $299,962 related

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 · Approval by the board or compensation committee

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

  • DELAWARE TECHNICAL & COMMUNITY COLLEGE A DIVISION OF THE STATE OF DELAWARE

    $968,764

    SUPPORT, EQUIPMENT & IMPROVEMENT PROCESS

  • DELAWARE TECHNICAL & COMMUNITY COLLEGE A DIVISION OF THE STATE OF DELAWARE

    $823,663

    SCHOLARSHIP ASSISTANCE

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.

  • DELAWARE TECHNICAL AND COMMUNITY COLLEGE

    501(C)(3) · INSTITUTION OF HIGHER LEARNING · DE

Provenance

Return type
form_990
Tax year
2022
Filed
11 May 2023
IRS schema version
2022v5.0
Source object
202311329349303916

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