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Nonprofiteer
← NEW RIVER COMMUNITY AND TECHNICAL COLLEGE FOUNDATION INC

Form 990 for tax year 2022

Filed by NEW RIVER COMMUNITY AND TECHNICAL COLLEGE FOUNDATION INC.

Totals

Total revenue
$446,820
Total expenses
$187,090
Contributions and grants received
$346,607
Grants paid
$90,350
Program service revenue
$0
Investment income
$48,905
Other revenue
$51,308
Total assets, end of year
$3,666,488
Total liabilities, end of year
$138,652
Net assets or fund balances, end of year
$3,527,836
Program services expenses (Part IX)
$127,284
Management and general expenses
$23,512
Fundraising expenses
$36,294
Program service expenses (Part III)
$127,284

Program services were 68.0% 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.

  • 1f · All other contributions, gifts and grants

    $346,607

  • 3 · Investment income

    total $48,905 · excluded $48,905

  • 8a · Fundraising events: gross income

    $72,667

  • 8b · Fundraising events: direct expenses

    $21,359

  • 8c · Net income from fundraising events

    total $51,308 · excluded $51,308

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $90,350 · program services $90,350

  • 5 · Compensation of officers, directors and key employees

    total $35,334 · program services $13,533 · management and general $8,957 · fundraising $12,844

  • 11c · Fees: accounting

    total $15,800 · program services $6,051 · management and general $4,006 · fundraising $5,743

  • 13 · Office expenses

    total $451 · program services $172 · management and general $115 · fundraising $164

  • 17 · Travel

    total $18,319 · program services $7,016 · management and general $4,644 · fundraising $6,659

  • 23 · Insurance

    total $1,169 · program services $448 · management and general $296 · fundraising $425

  • 24a · Other expenses: OTHER OPERATIONAL EXPENSE

    total $21,675 · program services $8,302 · management and general $5,494 · fundraising $7,879

  • 24b · Other expenses: NIP CREDITS FEES

    total $2,580 · fundraising $2,580

  • 24c · Other expenses: CONTRIBUTIONS & SPONSOR

    total $1,225 · program services $1,225

  • 24d · Other expenses: CONTRACT LABOR

    total $187 · program services $187

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $262,296 · end of year $440,878

  • 3 · Pledges and grants receivable

    beginning of year $25,000 · end of year $25,000

  • 4 · Accounts receivable

    beginning of year $2,775

  • 11 · Investments: publicly traded securities

    beginning of year $1,610,785 · end of year $1,770,698

  • 15 · Other assets

    beginning of year $1,344,155 · end of year $1,429,912

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,950 · end of year $16,152

  • 18 · Grants payable

    beginning of year $182,750 · end of year $122,500

  • 27 · Net assets without donor restrictions

    beginning of year $33,708 · end of year $67,867

  • 28 · Net assets with donor restrictions

    beginning of year $3,015,603 · end of year $3,459,969

Mission and programs · 2022

Mission

THE FOUNDAITON'S PURPOSE IS TO AID, STRENGTHEN, AND FURTHER IN EVERY PROPER WAY THE WORK AND SERVICES OF NEW RIVER COMMUNITY AND TECHNICAL COLLEGE, AN AGENCY OF THE STATE OF WEST VIGINIA. THE ORGANZATION IS OPERATED TO RECEIVE, HOLD, INVEST, AND ADMINSTER PROPERTY AND TO MAKE EXPENDITURES FOR THE BENEFIT OF NEW RIVER COMMUNITY & TECHNICAL COLLEGE AND ITS STUDENTS AND STAFF.

  • SCHOLARSHIPS FOR THE BENEFIT OF NEW RIVER COMMUNITY AND TECHNICAL COLLEGE AND BLUEFIELD STATE COLLEGE STUDENTS. SIGNIFICANT DONATED SERVICES ARE PROVIDED TO THE FOUNDATION BY NEW RIVER COMMUNITY AND TECHNICAL COLLEGE IN THE FORM OF PERSONNEL WHO OPERATE THE FOUNDATION, OFFICE SPACE AND GENERAL OPERATING SUPPLIES. THIS BENEFITS THIS PROGRAM.

    Expenses $127,284 · Grants $90,350

  • INDIRECT EXPENSES ALLOCATED TO THE FUNCTION OF STUDENT SUPPORT AND PROGRAM SERVICES.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Michael Green

    EXECUTIVE DI

    Total calculated
    $126,350
    From this org
    $35,334
    From related orgs
    $86,138
    Other
    $4,878
    Hours/week
    20 + 20 related

  • Leslie Baker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Tom Cochran

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Carol Cole

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Ann Fort

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Dr Kyle Fort

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Daniel Hall

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Edward D Knight III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Dr Mark C Kilcollin

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Dr Mary Montgomery Lindquist

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Dr Pat McHale

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Stephen P New

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Debra Parsons

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Sharon Rowe

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
6 March 2024
IRS schema version
2022v5.0
Source object
202410669349301526

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