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Nonprofiteer
← CENTRAL PIEDMONT COMMUNITY COLLEGE FOUNDATION INC

Form 990 for tax year 2023

Filed by CENTRAL PIEDMONT COMMUNITY COLLEGE FOUNDATION INC.

Totals

Total revenue
$26,723,160
Total expenses
$16,811,503
Contributions and grants received
$11,272,929
Grants paid
$16,240,691
Program service revenue
$280,000
Investment income
$15,014,491
Other revenue
$155,740
Total assets, end of year
$99,720,513
Total liabilities, end of year
$1,520,696
Net assets or fund balances, end of year
$98,199,817
Program services expenses (Part IX)
$16,323,947
Management and general expenses
$265,276
Fundraising expenses
$222,280
Program service expenses (Part III)
$16,323,947

Program services were 97.1% 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.

  • 1c · Fundraising events

    $100,312

  • 1e · Government grants (contributions)

    $38,724

  • 1f · All other contributions, gifts and grants

    $11,133,893

  • 1g · Noncash contributions included above

    $5,635,882

  • 2a · Program service revenue: RENTAL INCOME FROM AFFILIATE

    total $280,000 · related or exempt $280,000

  • 3 · Investment income

    total $713,939 · unrelated business -$49,101 · excluded $763,040

  • 7a · Gross sales of assets other than inventory

    securities $105,725,213 · other assets $6,622

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

    securities $91,336,283 · other assets $95,000

  • 7c · Gain or loss

    securities $14,388,930 · other assets -$88,378

  • 7d · Net gain or loss

    total $14,300,552 · excluded $14,300,552

  • 8a · Fundraising events: gross income

    $200,693

  • 8a · Fundraising events: contributions included on line 1c

    $100,312

  • 8b · Fundraising events: direct expenses

    $65,644

  • 8c · Net income from fundraising events

    total $135,049 · excluded $135,049

  • 11a · Other revenue: OTHER INCOME

    total $20,691 · excluded $20,691

  • 11e · Other revenue, total

    $20,691

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $16,240,691 · program services $16,240,691

  • 7 · Other salaries and wages

    total $84,576 · management and general $15,454 · fundraising $69,122

  • 10 · Payroll taxes

    total $5,233 · management and general $956 · fundraising $4,277

  • 11c · Fees: accounting

    total $56,188 · management and general $56,188

  • 11f · Fees: investment management

    total $137,552 · management and general $137,552

  • 11g · Fees: other

    total $8,379 · management and general $5,929 · fundraising $2,450

  • 13 · Office expenses

    total $35,499 · management and general $5,391 · fundraising $30,108

  • 14 · Information technology

    total $103,468 · management and general $22,549 · fundraising $80,919

  • 17 · Travel

    total $22,163 · management and general $5,240 · fundraising $16,923

  • 19 · Conferences, conventions and meetings

    total $6,005 · management and general $5,965 · fundraising $40

  • 20 · Interest

    total $70,206 · program services $70,206

  • 22 · Depreciation, depletion and amortization

    total $13,050 · program services $13,050

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $3,585 · management and general $1,085 · fundraising $2,500

  • 24e · All other expenses

    total $24,908 · management and general $8,967 · fundraising $15,941

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,401,378 · end of year $5,945,898

  • 2 · Savings and temporary cash investments

    beginning of year $12,178,691 · end of year $10,606,185

  • 3 · Pledges and grants receivable

    beginning of year $17,499,292 · end of year $16,331,787

  • 9 · Prepaid expenses and deferred charges

    beginning of year $26,033 · end of year $62,117

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

    $3,406,942

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

    $197,961

  • 10c · Land, buildings and equipment, net

    beginning of year $3,317,031 · end of year $3,208,981

  • 12 · Investments: other securities

    beginning of year $57,361,775 · end of year $63,300,440

  • 15 · Other assets

    beginning of year $1,111,150 · end of year $265,105

  • 17 · Accounts payable and accrued expenses

    beginning of year $302,407 · end of year $123,510

  • 19 · Deferred revenue

    beginning of year $23,332 · end of year $23,332

  • 23 · Secured mortgages and notes payable

    beginning of year $1,403,227 · end of year $1,254,455

  • 25 · Other liabilities

    beginning of year $159,790 · end of year $119,399

  • 27 · Net assets without donor restrictions

    beginning of year $10,913,418 · end of year $12,420,039

  • 28 · Net assets with donor restrictions

    beginning of year $84,093,176 · end of year $85,779,778

Mission and programs · 2023

Mission

THE FOUNDATION'S MISSION IS TO GENERATE PRIVATE FINANCIAL SUPPORT TO FURTHER THE MISSION OF CENTRAL PIEDMONT COMMUNITY COLLEGE.

Activities or mission (Part I)

SEE SCHEDULE O

  • THROUGH ITS EXTENSIVE EDUCATIONAL PROGRAMS, CENTRAL PIEDMONT OFFERS INDIVIDUALS THE OPPORTUNITY TO EARN AN ASSOCIATE DEGREE, WORK TOWARD A FOUR-YEAR DEGREE, OR TAKE A DIRECT PATH TO EMPLOYMENT. THE COLLEGE OFFERS NEARLY 300 PROGRAMS IN 14 CAREER FIELDS WITH MORE THAN 55 PROFESSIONAL PATHWAYS SO THAT STUDENTS ARE PREPARED FOR A REAL-WORLD CAREER. CLASSES ARE DESIGNED FOR CLOSE-KNIT LEARNING WITH A 19:1 AVERAGE STUDENT TO TEACHER RATIO. STUDENTS LEARN FROM FACULTY WITH ACTUAL CAREER EXPERIENCE AND A HANDS-ON EXPERIENTIAL APPROACH. HUNDREDS OF ONLINE CLASSES AND CONTINUING EDUCATION PROGRAMS ARE AVAILABLE TO PREPARE STUDENTS FOR THE NEXT STEP IN THEIR CAREER. THESE EDUCATIONAL PROGRAMS COMBINE TO EQUIP STUDENTS FOR PRODUCTIVE, MEANINGFUL LIVES AND POSITION THEM TO CONTRIBUTE TO THE GROWTH AND VITALITY OF THE REGION.

    Expenses $8,108,711 · Grants $8,108,711

  • BY REMOVING FINANCIAL BARRIERS AND EXPANDING ACCESS TO OPPORTUNITIES, CENTRAL PIEDMONT HAS BEEN A PLACE OF TRANSFORMATION THROUGHOUT ITS HISTORY. THE CENTRAL PIEDMONT FOUNDATION SECURES PHILANTHROPIC SUPPORT TO INVEST IN SCHOLARSHIPS THAT MAKE A COLLEGE EDUCATION ACCESSIBLE FOR STUDENTS. SCHOLARSHIPS INCLUDE OPPORTUNITY SCHOLARSHIPS FOR STUDENTS FROM CHARLOTTE'S MOST ECONOMICALLY CHALLENGED HIGH SCHOOLS AND NEIGHBORHOODS; TRANSFER SCHOLARSHIPS FOR STUDENTS PREPARING TO EARN A FOUR-YEAR DEGREE; CAREER-FOCUSED SCHOLARSHIPS FOR STUDENTS WHO ASPIRE TO ENTER THE WORKFORCE UPON GRADUATION; AND MANY GENERAL AND DISCIPLINE-SPECIFIC SCHOLARSHIPS. THE RESOURCES ARE FUNDED WITH DESIGNATED EXPENDABLE AND ENDOWED SUPPORT.DURING THE FISCAL YEAR ENDED JUNE 30, 2024, THE FOUNDATION FUNDED NEARLY 3,000 SCHOLARSHIPS TO SUPPORT STUDENTS.

    Expenses $3,145,836 · Grants $3,145,836

  • AS AN OPEN-DOOR INSTITUTION, CENTRAL PIEDMONT STRIVES TO PROVIDE ITS DIVERSE STUDENT BODY WITH THE TOOLS AND SUPPORT SERVICES NECESSARY TO FACILITATE SUCCESS. THE FOUNDATION'S WORK ENHANCES THE COLLEGE'S CAPACITY TO ADDRESS THE FACTORS THAT IMPEDE STUDENT RETENTION AND COMPLETION BY CREATING A CULTURE THAT PROMOTES STUDENT SUCCESS AND EXPANDS OPPORTUNITIES FOR STUDENTS TO MAKE MEANINGFUL CONNECTIONS TO THE COLLEGE. THE FOUNDATION SUPPORTED STUDENT SUCCESS AND ENGAGEMENT IN VARIOUS WAYS. SERVICES FOR STUDENTS INCLUDE PERSONAL AND FINANCIAL COUNSELING, EMERGENCY FUNDING, ACADEMIC AND CAREER ADVISING, SUMMER BRIDGE EXPERIENCES, DISABILITY SERVICES, FAMILY RESOURCE/FINANCIAL ADVISING, MILITARY FAMILY AND VETERANS SERVICES, MENTORSHIPS AND LEADERSHIP DEVELOPMENT, AS WELL AS OUT-OF-CLASSROOM EXPERIENCES SUCH AS INTERNSHIPS, APPRENTICESHIPS, WORK-BASED LEARNING, AND STUDY ABROAD.

    Expenses $2,772,380 · Grants $2,772,380 · Revenue $280,000

  • THE CENTRAL PIEDMONT FOUNDATION ENGAGES DONOR SUPPORT AT ALL LEVELS TO PROVIDE THE COLLEGE WITH THE RESOURCES REQUIRED TO RESPOND TO CURRENT AND EMERGING PRIORITIES AND NEEDS OF ITS STUDENTS AND THE COMMUNITY. GIFTS TO THE FOUNDATION PROVIDE CRITICAL RESOURCES TO SUSTAIN THE COLLEGE'S ESSENTIAL OPERATIONS AND CORE COMMITMENTS TO SUPPORT STUDENT SUCCESS. WITH FOUNDATION FUNDING, THE COLLEGE ALSO ENCOURAGES, DEVELOPS, AND RECOGNIZES EXCELLENCE AMONG ITS FACULTY AND STAFF. THE COLLEGE'S CENTER FOR TEACHING AND LEARNING EXCELLENCE PROVIDES PROFESSIONAL DEVELOPMENT TO ENSURE THAT FACULTY KNOWLEDGE AND SKILLS EVOLVE TO THE HIGHEST LEVELS TO MEET THE EVER-CHANGING NEEDS OF STUDENTS. FUNDING IS FURTHER UTILIZED FOR CAMPUS AND AUXILIARY SERVICES, FACILITIES, AND MAINTENANCE TO ENSURE AN OUTSTANDING ON-CAMPUS EXPERIENCE. THROUGH THE FUNDING OF VARIOUS PROGRAM SERVICES, THE FOUNDATION CONTINUES TO ENSURE FACULTY, STAFF, AND STUDENTS HAVE AN IDEAL ENVIRONMENT FOR TEACHING, LEARNING, AND GROWING TO FACILITATE A TRANSFORMATIONAL EXPERIENCE FOR ALL STUDENTS.

    Expenses $2,297,020 · Grants $2,213,764

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • J CARLTON SHOWALTER JR

    CHAIR

    Total calculated
    $0
    Hours/week
    0.25

  • LANDON WYATT

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.25

  • MADELYN CAPLE

    TREASURER

    Total calculated
    $0
    Hours/week
    0.25

  • ASHLEY SIMMONS ROSEBOROUGH

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.25

  • WESTON M ANDRESS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • ROSS ANNABLE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • LEWIS B BARNHARDT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • HENRY BATTEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • JOYE BLOUNT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • KRISTI COLEMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • BETSY CONWAY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • EDWIN DALRYMPLE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • DEBORAH L EDWARDS

    DIRECTOR (THRU 11/23)

    Total calculated
    $0
    Hours/week
    0.25

  • GREG EFTHIMIOU

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • TODD A GORELICK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • J TRAVIS HAIN

    DIRECTOR (THRU 01/24)

    Total calculated
    $0
    Hours/week
    0.25

  • E HOOPER HARDISON JR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • CLAUDIA F HEATH

    DIRECTOR (THRU 11/23)

    Total calculated
    $0
    Hours/week
    0.25

  • G CHRIS HILL

    DIRECTOR (THRU 02/24)

    Total calculated
    $0
    Hours/week
    0.25

  • LORI HUDSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • LOIS J INGLAND

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • SUSAN N JAMISON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • GARY E LABROSSE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • LYNNE TATUM LITTLE

    DIRECTOR (THRU 11/23)

    Total calculated
    $0
    Hours/week
    0.25

  • LAURENT J LONGIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • RAYMOND R MCGREGOR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • VINAY B PATEL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • CHRISTIAN M ROBINSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • PATRICIA A RODGERS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • R GLENN SHERRILL JR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • TIMOTHY SITTEMA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • AMY STRECKER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • EBONY THOMAS

    DIRECTOR (THRU 03/24)

    Total calculated
    $0
    Hours/week
    0.25

  • LAURA C THOMAS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • PAULA R VINCENT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • JESSICA BOYCE

    ASSISTANT SECRETARY (FROM 08/23)

    Total calculated
    $17,616
    From this org
    $13,628
    From related orgs
    $0
    Other
    $3,988
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $13,003
    Bonus
    $625
    Other
    $0
    Deferred
    $3,278
    Nontaxable benefits
    $710
    Filer's total
    $17,616

  • MIKE WHITEMAN

    ASISSTANT SECRETARY (THRU 08/23)

    Total calculated
    $24,880
    From this org
    $19,355
    From related orgs
    $0
    Other
    $5,525
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $18,503
    Bonus
    $250
    Other
    $602
    Deferred
    $4,836
    Nontaxable benefits
    $689
    Filer's total
    $24,880

  • WENDY J WALLER

    ASSISTANT TREASURER

    Total calculated
    $147,865
    From this org
    $112,688
    From related orgs
    $0
    Other
    $35,177
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $110,188
    Bonus
    $2,500
    Other
    $0
    Deferred
    $27,559
    Nontaxable benefits
    $7,618
    Filer's total
    $147,865

  • LISA SCHLACHTER

    VP, INST ADVMT

    Total calculated
    $157,952
    From this org
    $124,490
    From related orgs
    $0
    Other
    $33,462
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $112,990
    Bonus
    $11,500
    Other
    $0
    Deferred
    $28,393
    Nontaxable benefits
    $5,069
    Filer's total
    $157,952

  • VANESSA STOLEN

    AVP, INST, ADVMT

    Total calculated
    $139,589
    From this org
    $104,729
    From related orgs
    $0
    Other
    $34,860
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $99,101
    Bonus
    $4,000
    Other
    $1,628
    Deferred
    $27,242
    Nontaxable benefits
    $7,618
    Filer's total
    $139,589

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

  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
MOST OF THE EMPLOYEES WHO PERFORM WORK FOR THE FOUNDATION ARE EMPLOYED BY CENTRAL PIEDMONT COMMUNITY COLLEGE AND PROVIDE SERVICES TO CPCC FOUNDATION UNDER A SHARED SERVICES AGREEMENT. THEREFORE, ALL COMPENSATION METHODS AND ANALYSES ARE PERFORMED BY THE COLLEGE. THE COLLEGE USED THE FOLLOWING METHODS IN ESTABLISHING THE COMPENSATION OF THE FOUNDATION'S CEO/EXECUTIVE DIRECTOR: INDEPENDENT COMPENSATION CONSULTANT, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
PART I, LINE 7
EMPLOYEES LISA SCHLACHTER, WENDY WALLER, VANESSA STOLEN, MIKE WHITEMAN, AND JESSICA BOYCE LISTED IN PART VII OF THE RETURN WERE ELIGIBLE FOR NON FIXED MERIT BONUS AMOUNTS DURING THE YEAR. EMPLOYEES WERE NOMINATED BASED ON EXEMPLARY PERFORMANCE AND THEIR SIGNIFICANT CONTRIBUTIONS TO THE ORGANIZATION. THE EMPLOYEES WERE AWARDED AMOUNTS THAT ARE INCLUDED WITHIN THEIR TOTAL BONUS & INCENTIVE COMPENSATION AMOUNTS REPORTED IN SCHEDULE J, PART II, COLUMN (B)(II).
EXPLANATION OF COMPENSATION PAID BY AN UNRELATED ORGANIZATION:
WENDY WALLER, LISA SCHLACHTER, AND VANESSA STOLEN RECEIVED COMPENSATION FROM CENTRAL PIEDMONT, AN UNRELATED ORGANIZATION, FOR PROVIDING SERVICES TO THE FOUNDATION UNDER THE SHARED SERVICES AGREEMENT MENTIONED ABOVE. THE COMPENSATION FOR THEIR SERVICES IN RELATION TO THE FOUNDATION HAS BEEN REFLECTED IN PART VII AND SCHEDULE J AS IF IT WERE PAID BY THE FOUNDATION IN ACCORDANCE WITH THE INSTRUCTIONS TO THE FORM 990. THE FOUNDATION DID NOT PAY ANYTHING TO THEM DIRECTLY. ADDITIONALLY, 25% OF MIKE WHITEMAN'S COMPENSATION FROM CENTRAL PIEDMONT DURING THE TIME FRAME OF JANUARY 1, 2023 THROUGH AUGUST 16, 2023, AND 25% OF JESSICA BOYCE'S COMPENSATION FROM CENTRAL PIEDMONT DURING THE TIME FRAME OF AUGUST 17, 2023 THROUGH DECEMBER 31, 2023 WAS IN RELATION TO THEIR SERVICES FOR THE FOUNDATION. THE COMPENSATION FOR THEIR SERVICES IN RELATION TO THE FOUNDATION HAVE ALSO BEEN REFLECTED IN PART VII AND SCHEDULE J AS IF IT WERE PAID BY THE FOUNDATION IN ACCORDANCE WITH THE INSTRUCTIONS TO THE FORM 990. THE FOUNDATION DID NOT PAY ANYTHING TO THEM DIRECTLY.

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

  • CENTRAL PIEDMONT COMMUNITY COLLEGE

    $10,604,809

    FUNDING SUPPORTS SCHOLARSHIPS, SPONSORED PROGRAMS, AND OTHER OBJECTIVES OF CPCC. LAND ALSO PROVIDED TO USE AS SITE FOR FUTURE PUBLIC SAFETY TRAINING FACILITY.

Provenance

Return type
form_990
Tax year
2023
Filed
5 May 2025
IRS schema version
2023v6.0
Source object
202541289349303204

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