Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $5,485,663

• 1g · Noncash contributions included above

  $720,000

• 3 · Investment income

  total $1,097,561 · excluded $1,097,561

• 5 · Royalties

  total $25,382 · related or exempt $25,382

• 7a · Gross sales of assets other than inventory

  securities $8,095,283 · other assets $218

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

  securities $6,861,975 · other assets $0

• 7c · Gain or loss

  securities $1,233,308 · other assets $218

• 7d · Net gain or loss

  total $1,233,526 · excluded $1,233,526

• 11a · Other revenue: OTHER INCOME

  total $2,616 · excluded $2,616

• 11e · Other revenue, total

  $2,616

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $1,362,175 · program services $1,362,175

• 7 · Other salaries and wages

  total $504,834 · program services $350,014 · management and general $154,820

• 10 · Payroll taxes

  total $3,098 · management and general $3,098

• 11c · Fees: accounting

  total $25,029 · management and general $25,029

• 11f · Fees: investment management

  total $79,265 · management and general $79,265

• 11g · Fees: other

  total $34,501 · program services $34,239 · management and general $262

• 13 · Office expenses

  total $3,389 · program services $494 · management and general $2,895

• 17 · Travel

  total $83,271 · program services $77,576 · management and general $5,641 · fundraising $54

• 24a · Other expenses: PROGRAM EXPENSES

  total $720,000 · program services $720,000

• 24b · Other expenses: SUPPLIES & EQUIPMENT

  total $477,489 · program services $434,359 · management and general $43,130

• 24c · Other expenses: OTHER EXPENSES

  total $454,830 · program services $275,566 · management and general $134,261 · fundraising $45,003

• 24d · Other expenses: EVENT EXPENSES

  total $206,194 · program services $206,194

• 24e · All other expenses

  total $201,958 · program services $102,009 · management and general $99,949

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,250,456 · end of year $5,270,290

• 3 · Pledges and grants receivable

  beginning of year $3,116,312 · end of year $2,756,531

• 9 · Prepaid expenses and deferred charges

  beginning of year $0 · end of year $2,250

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

  $128,319

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

  $128,319

• 10c · Land, buildings and equipment, net

  beginning of year $0 · end of year $0

• 11 · Investments: publicly traded securities

  beginning of year $19,356,391 · end of year $24,513,875

• 12 · Investments: other securities

  beginning of year $2,034,248 · end of year $370,898

• 15 · Other assets

  beginning of year $2,399,856 · end of year $2,229,564

• 17 · Accounts payable and accrued expenses

  beginning of year $52,294 · end of year $0

• 25 · Other liabilities

  beginning of year $57,395 · end of year $53,731

• 27 · Net assets without donor restrictions

  beginning of year $6,395,536 · end of year $6,762,132

• 28 · Net assets with donor restrictions

  beginning of year $24,652,038 · end of year $28,327,545

The filer's explanations (Part III)

PART I, LINE 3

WAKE TECHNICAL COMMUNITY COLLEGE SETS AND PAYS ALL COMPENSATION FOR EMPLOYEES OF WAKE TECHNICAL COMMUNITY COLLEGE FOUNDATION.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• LS SELMA LLC

  LAND MGMT · NC · income $0 · assets $0

  Directly controlled by WAKE TECH COMMUNITY COLLEGE FOUNDATION INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• WAKE TECH INNOVATIONS INC

  C · SOLAR ELECTRIC · NC · 100% owned · share of income $67,288 · share of assets $236,854 · controlled entity

  Directly controlled by WAKE TECH CC FOUNDATION INC