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Nonprofiteer
← FOUNDATION FOR READING AREA COMMUNITY COLLEGE

Form 990 for tax year 2022

Filed by FOUNDATION FOR READING AREA COMMUNITY COLLEGE.

Totals

Total revenue
$1,876,136
Total expenses
$1,902,741
Contributions and grants received
$1,613,608
Grants paid
$1,781,656
Program service revenue
$0
Investment income
$262,232
Other revenue
$296
Total assets, end of year
$25,439,059
Total liabilities, end of year
$2,500
Net assets or fund balances, end of year
$25,436,559
Program services expenses (Part IX)
$1,902,741
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,902,741

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

    $134,160

  • 1f · All other contributions, gifts and grants

    $1,479,448

  • 3 · Investment income

    total $262,232 · excluded $262,232

  • 8a · Fundraising events: gross income

    $85,755

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

    $134,160

  • 8b · Fundraising events: direct expenses

    $85,459

  • 8c · Net income from fundraising events

    total $296 · excluded $296

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $461,482 · program services $461,482

  • 2 · Grants to domestic individuals

    total $1,320,174 · program services $1,320,174

  • 11b · Fees: legal

    total $401 · program services $401

  • 11c · Fees: accounting

    total $12,250 · program services $12,250

  • 11f · Fees: investment management

    total $71,392 · program services $71,392

  • 12 · Advertising and promotion

    total $7,030 · program services $7,030

  • 24a · Other expenses: SCHOLARSHIP DINNER

    total $15,824 · program services $15,824

  • 24b · Other expenses: HOSPITALITY

    total $14,188 · program services $14,188

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $11,057 · end of year $10,669

  • 2 · Savings and temporary cash investments

    beginning of year $1,150,591 · end of year $1,870,317

  • 3 · Pledges and grants receivable

    beginning of year $353,693 · end of year $266,145

  • 4 · Accounts receivable

    beginning of year $343,280 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $13,083,439 · end of year $13,349,014

  • 15 · Other assets

    beginning of year $9,696,313 · end of year $9,942,914

  • 19 · Deferred revenue

    end of year $2,500

  • 27 · Net assets without donor restrictions

    beginning of year $2,427,210 · end of year $2,536,561

  • 28 · Net assets with donor restrictions

    beginning of year $22,211,163 · end of year $22,899,998

Mission and programs · 2022

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 $421,573 · Grants $371,379

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

    Expenses $1,391,065 · Grants $1,320,174

  • TO PROVIDE BOOKS AND EQUIPMENT FOR READING AREA COMMUNITY COLLEGE

    Expenses $90,103 · Grants $90,103

As filed on the 2022 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

  • REBECCA A IANNELLI

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • RYAN P HOTTENSTEIN

    ASSISTANT TREASURER

    Total calculated
    $0
    Hours/week
    1

  • CRAIG M PERROTTY

    SECRETARY

    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

  • PAUL D COHN

    DIRECTOR THROUGH SEPT

    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

  • SANDRA FOCHT

    DIRECTOR AS OF JULY

    Total calculated
    $0
    Hours/week
    1

  • KRISTI GAGE-LINDERMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ALEXANDRA GOODMAN

    DIRECTOR AS OF JULY

    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 AS OF JULY

    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 AS OF DEC

    Total calculated
    $0
    Hours/week
    1

  • VIRGINIA RUSH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WHITNEY A SANDERS II

    DIRECTOR THROUGH DEC

    Total calculated
    $0
    Hours/week
    1

  • ROGER J SCHMIDT

    DIRECTOR THROUGH JUNE

    Total calculated
    $0
    Hours/week
    1

  • BECKY SHEMANSKI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SHARON WHITE

    DIRECTOR AS OF JULY

    Total calculated
    $0
    Hours/week
    1

  • SEAN WYANDT

    DIRECTOR THROUGH JUNE

    Total calculated
    $0
    Hours/week
    1

  • GUST ZOGAS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CHARLES FIRES

    STUDENT REP AS OF MARCH

    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
    $238,192
    From this org
    $0
    From related orgs
    $165,411
    Other
    $72,781
    Hours/week
    15 + 25 related

    Schedule J breakdown matched by us

    Base
    $0 + $165,411 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $14,887 related
    Nontaxable benefits
    $0 + $57,894 related
    Filer's total
    $0 + $238,192 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

    $461,482

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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
12 September 2023
IRS schema version
2022v5.0
Source object
202342569349300014

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