Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $419,274

• 1f · All other contributions, gifts and grants

  $1,635,651

• 1g · Noncash contributions included above

  $7,122

• 3 · Investment income

  total $937,475 · excluded $937,475

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

  securities $161,123

• 7c · Gain or loss

  securities -$161,123

• 7d · Net gain or loss

  total -$161,123 · excluded -$161,123

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $746,015 · program services $746,015

• 7 · Other salaries and wages

  total $254,993 · program services $38,210 · management and general $130,577 · fundraising $86,206

• 11b · Fees: legal

  total $6,261 · management and general $6,261

• 11c · Fees: accounting

  total $30,731 · management and general $30,731

• 17 · Travel

  total $4,635 · management and general $4,188 · fundraising $447

• 23 · Insurance

  total $6,709 · management and general $5,854 · fundraising $855

• 24a · Other expenses: SUPPLIES

  total $217,842 · program services $199,222 · management and general $7,103 · fundraising $11,517

• 24b · Other expenses: RECEPTIONS AND ENTERTAI

  total $57,854 · program services $375 · management and general $30,995 · fundraising $26,484

• 24c · Other expenses: OTHER ALLOCATION

  total $51,039 · management and general $51,039

• 24d · Other expenses: EQUIPMENT

  total $24,341 · program services $24,341

• 24e · All other expenses

  total $50,421 · program services $9,000 · management and general $41,246 · fundraising $175

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $250 · end of year $250

• 2 · Savings and temporary cash investments

  beginning of year $572,691 · end of year $320,087

• 4 · Accounts receivable

  beginning of year $523,003 · end of year $226,594

• 9 · Prepaid expenses and deferred charges

  beginning of year $11,775 · end of year $11,693

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

  $18,781

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

  $18,781

• 10c · Land, buildings and equipment, net

  beginning of year $0 · end of year $0

• 12 · Investments: other securities

  beginning of year $33,839,526 · end of year $29,697,589

• 15 · Other assets

  beginning of year $423,609 · end of year $1,226,233

• 17 · Accounts payable and accrued expenses

  beginning of year $519,267 · end of year $186,100

• 19 · Deferred revenue

  end of year $500,000

• 27 · Net assets without donor restrictions

  beginning of year $7,163,877 · end of year $6,401,217

• 28 · Net assets with donor restrictions

  beginning of year $27,687,710 · end of year $24,395,129

The filer's explanations (Part III)

PART I, LINE 3

THE MOUNTAIN EMPIRE COMMUNTY COLLEGE FOUNDATION (MECCF) DOES NOT USE ANY METHOD OF ESTABLISHING COMPENSATION FOR DR. WESTOVER DUE TO HER CONTRACT AND PAY BEING PAID/SERVICED BY MOUNTAIN EMPIRE COMMUNITY COLLEGE (MECC) AND NOT MECCF. THE CONTRACTUAL AGREEMENT THAT IS HELD BETWEEN MECC AND MECCF DOES NOT INCORPORATE HER COMPENSATION.

PART I, LINE 5

N/A

PART I, LINE 6

N/A

PART I, LINE 7

N/A

PART I, LINE 8

N/A