Form 990 for tax year 2024
Filed by ALLEGANY COMMUNITY COLLEGE FOUNDATION INC.
Totals
- Total revenue
- $5,739,548
- Total expenses
- $3,346,171
- Contributions and grants received
- $1,442,116
- Grants paid
- $1,452,189
- Program service revenue
- $1,979,347
- Investment income
- $2,314,978
- Other revenue
- $3,107
- Total assets, end of year
- $28,811,621
- Total liabilities, end of year
- $22,229
- Net assets or fund balances, end of year
- $28,789,392
- Program services expenses (Part IX)
- $3,148,677
- Management and general expenses
- $197,494
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $3,148,677
Program services were 94.1% 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.
-
1e · Government grants (contributions)
$377,539
-
1f · All other contributions, gifts and grants
$1,064,577
-
2a · Program service revenue: ALLEGANY COLLEGE HOUSING, LLC
total $1,979,347 · related or exempt $1,979,347
-
3 · Investment income
total $552,086 · excluded $552,086
-
7a · Gross sales of assets other than inventory
securities $583,903
-
7b · Less cost or other basis and sales expenses
securities -$1,178,989
-
7c · Gain or loss
securities $1,762,892
-
7d · Net gain or loss
total $1,762,892 · excluded $1,762,892
-
11a · Other revenue: CHANGE IN VALUE OF DONATED LIFE I
total $3,909 · related or exempt $3,909
-
11b · Other revenue: CHANGE IN VALUE SPLIT-INTEREST AG
total -$802 · related or exempt -$802
-
11e · Other revenue, total
$3,107
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $96,902 · program services $96,902
-
2 · Grants to domestic individuals
total $1,355,287 · program services $1,355,287
-
11f · Fees: investment management
total $197,494 · management and general $197,494
-
24a · Other expenses: ALLEGANY COLLEGE HOUSIN
total $1,696,488 · program services $1,696,488
Balance sheet
Part X, book values.
-
11 · Investments: publicly traded securities
beginning of year $164,009 · end of year $189,188
-
12 · Investments: other securities
beginning of year $21,520,539 · end of year $23,052,476
-
15 · Other assets
beginning of year $5,040,915 · end of year $5,569,957
-
17 · Accounts payable and accrued expenses
beginning of year $17,126 · end of year $22,229
-
25 · Other liabilities
beginning of year $1,443 · end of year $0
-
27 · Net assets without donor restrictions
beginning of year $7,146,377 · end of year $7,551,476
-
28 · Net assets with donor restrictions
beginning of year $19,560,517 · end of year $21,237,916
Mission and programs · 2024
Mission
THE PURPOSE OF THE FOUNDATION IS TO ACCUMULATE, INVEST, REINVEST, AND EXPEND FUNDS, BY WAY OF ENDOWMENT OR OTHERWISE; TO USE EITHER THE PRINCIPAL OR INCOME THEREOF FOR SCHOLARSHIPS OR FOR SPECIAL PROGRAMS OR PROJECTS; AND TO FOSTER, ENCOURAGE, AND PROMOTE THE GROWTH, PROGRESS, AND GENERAL WELFARE OF ALLEGANY COLLEGE OF MARYLAND.
Activities or mission (Part I)
THE PURPOSE OF THE FOUNDATION IS TO ACCUMULATE, INVEST, REINVEST, AND EXPEND FUNDS, BY WAY OF ENDOWMENT OR OTHERWISE TO USE EITHER THE PRINCIPAL OR INCOME THEREOF FOR SCHOLARSHIPS OR FOR SPECIAL PROGRAMS OR PROJECTS AND TO FOSTER, ENCOURAGE, AND PROMOTE THE GROWTH, PROGRESS, AND GENERAL WELFARE OF ALLEGANY COLLEGE OF MARYLAND.
-
TO FOSTER, ENCOURAGE, AND PROMOTE THE GROWTH, PROGRESS, AND GENERAL WELFARE OF ALLEGANY COLLEGE OF MARYLAND.
Expenses $3,148,677 · Grants $1,452,189 · Revenue $1,979,347
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Aaron W HendricksonAARON W HENDRICKSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Amanda RuthenbergAMANDA RUTHENBERG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Bernice A FriedlandBERNICE A FRIEDLAND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Carl O Belt JrCARL O BELT JR
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 0
-
Chris MathewsCHRIS MATHEWS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
David N Aydelotte SrDAVID N AYDELOTTE SR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Destinee FrankenberryDESTINEE FRANKENBERRY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Dr Audie G KlinglerDR AUDIE G KLINGLER
PRESIDENT
- Total calculated
- $0
- Hours/week
- 0
-
Elaine K SolomonELAINE K SOLOMON
SECRETARY
- Total calculated
- $0
- Hours/week
- 0
-
George W Lapp JrGEORGE W LAPP JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
J Frederick SharerJ FREDERICK SHARER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
John J McMullenJOHN J MCMULLEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
John R Smyth JrJOHN R SMYTH JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Jonathan M DaytonJONATHAN M DAYTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Juli R McCoyJULI R MCCOY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Mary Ann D MoenMARY ANN D MOEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Matt MillerMATT MILLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Michael W KernsMICHAEL W KERNS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Robert E HeltzelROBERT E HELTZEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Robert J Martin JrROBERT J MARTIN JR
TREASURER
- Total calculated
- $0
- Hours/week
- 0
-
Robert J SmithROBERT J SMITH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
David R JonesDAVID R JONES
EXECUTIVE DIRECTOR
- Total calculated
- $0
- Hours/week
- 5 + 35 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.
Grants on this return
-
ALLEGANY COLLEGE OF MARYLAND
$96,902
TO SUPPORT ACM
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
HOUSING · MD · income $1,979,347 · assets $6,349,415
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 10 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202543179349308304
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