Skip to content
Nonprofiteer
← FOUNDATION FOR READING AREA COMMUNITY COLLEGE

Form 990 for tax year 2023

Filed by FOUNDATION FOR READING AREA COMMUNITY COLLEGE.

Totals

Total revenue
$4,212,353
Total expenses
$2,988,127
Contributions and grants received
$4,042,956
Grants paid
$2,846,439
Program service revenue
$0
Investment income
$186,220
Other revenue
-$16,823
Total assets, end of year
$28,950,000
Total liabilities, end of year
$700
Net assets or fund balances, end of year
$28,949,300
Program services expenses (Part IX)
$2,988,127
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$2,988,127

Program services were 100.0% 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

    $67,160

  • 1f · All other contributions, gifts and grants

    $3,975,796

  • 3 · Investment income

    total $305,562 · excluded $305,562

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

    securities $119,342

  • 7c · Gain or loss

    securities -$119,342

  • 7d · Net gain or loss

    total -$119,342 · excluded -$119,342

  • 8a · Fundraising events: gross income

    $25,665

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

    $67,160

  • 8b · Fundraising events: direct expenses

    $42,488

  • 8c · Net income from fundraising events

    total -$16,823 · excluded -$16,823

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,233,363 · program services $1,233,363

  • 2 · Grants to domestic individuals

    total $1,613,076 · program services $1,613,076

  • 11c · Fees: accounting

    total $14,250 · program services $14,250

  • 11f · Fees: investment management

    total $76,489 · program services $76,489

  • 12 · Advertising and promotion

    total $5,420 · program services $5,420

  • 23 · Insurance

    total $3,822 · program services $3,822

  • 24a · Other expenses: HOSPITALITY

    total $22,087 · program services $22,087

  • 24b · Other expenses: SCHOLARSHIP DINNER

    total $19,620 · program services $19,620

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,669 · end of year $10,605

  • 2 · Savings and temporary cash investments

    beginning of year $1,870,317 · end of year $2,423,802

  • 3 · Pledges and grants receivable

    beginning of year $266,145 · end of year $1,339,608

  • 11 · Investments: publicly traded securities

    beginning of year $13,349,014 · end of year $14,220,959

  • 15 · Other assets

    beginning of year $9,942,914 · end of year $10,955,026

  • 17 · Accounts payable and accrued expenses

    end of year $700

  • 19 · Deferred revenue

    beginning of year $2,500 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $2,536,561 · end of year $2,630,417

  • 28 · Net assets with donor restrictions

    beginning of year $22,899,998 · end of year $26,318,883

Mission and programs · 2023

Mission

THE MISSION OF THE FOUNDATION FOR READING AREA COMMUNITY COLLEGE IS TO AUGMENT AND ENHANCE THE COLLEGE'S ABILITY TO OFFER AFFORDABLE, QUALITY EDUCATIONAL OPPORTUNITIES TO THE COMMUNITY.

Activities or mission (Part I)

TO RAISE, INVEST AND MANAGE PRIVATE FUNDS FOR THE BENEFIT OF THE COLLEGE

  • TO MAINTAIN AND DEVELOP THE EDUCATIONAL FACILITIES AND PROGRAMS OF READING AREA COMMUNITY COLLEGE

    Expenses $1,208,091 · Grants $1,140,527

  • TO AWARD SCHOLARSHIPS AND/OR GRANTS TO FUTURE, PRESENT, AND FORMER STUDENTS OF THE READING AREA COMMUNITY COLLEGE

    Expenses $1,687,200 · Grants $1,613,076

  • TO PROVIDE BOOKS AND EQUIPMENT FOR READING AREA COMMUNITY COLLEGE

    Expenses $92,836 · Grants $92,836

As filed on the 2023 return.

Listed in Part VII

  • Gary M Moyer

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Mary M Palmer

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Ryan P Hottenstein

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Rebecca A Iannelli

    ASSISTANT TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Craig M Perrotty

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Charles Barbera

    DIRECTOR AS OF FEBRUARY

    Total calculated
    $0
    Hours/week
    1

  • William F Bender

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Eric G Burkey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Peter T Edelman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Steven A Ehrlich

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Charles Fries

    DIRECTOR (STUDENT REP)

    Total calculated
    $0
    Hours/week
    1

  • Sandra Focht

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kelsey Frankowski

    DIRECTOR AS OF JULY

    Total calculated
    $0
    Hours/week
    1

  • Kristi Gage-Linderman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Alexandra Goodman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jill Hackman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Katie B Hannon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Daniel B Laws Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Susan D Looney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jerome I Marcus

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael J Noon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Paul G Oxholm

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Maryanne Post Bell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gary W Rightmire

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Peter Rowley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Virginia Rush

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Becky Shemanski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sharon White

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael E Nagel

    VICE PRESIDENT EMERITUS (NON-VOTING

    Total calculated
    $0
    Hours/week
    1

  • Anthony Demarco

    EXECUTIVE DIRECTOR

    Total calculated
    $209,423
    From this org
    $0
    From related orgs
    $145,495
    Other
    $63,928
    Hours/week
    15 + 25 related

    Schedule J breakdown matched by us

    Base
    $0 + $145,495 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $13,005 related
    Nontaxable benefits
    $0 + $50,923 related
    Filer's total
    $0 + $209,423 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 · Compensation committee
  • 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

  • READING AREA COMMUNITY COLLEGE

    $1,233,363

    SCIENCE OF SUCCESS LAB CAMPAIGN, HEALTHCARE PAVILION CAMPAIGN, BOOKS AND EQUIPMENT, WORKS OF ART, ARTS, CULTURE AND LECTURES,

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.

  • READING AREA COMMUNITY COLLEGE

    COMMUNITY COLLEGE · PA

Provenance

Return type
form_990
Tax year
2023
Filed
23 September 2024
IRS schema version
2023v5.1
Source object
202402679349300040

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.