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Nonprofiteer
← FORSYTH TECHNICAL COMMUNITY COLLEGE FOUNDATION INC

Form 990 for tax year 2022

Filed by FORSYTH TECHNICAL COMMUNITY COLLEGE FOUNDATION INC.

Totals

Total revenue
$2,351,370
Total expenses
$2,561,054
Contributions and grants received
$1,937,170
Grants paid
$2,400,632
Program service revenue
$0
Investment income
$414,200
Other revenue
$0
Total assets, end of year
$14,533,335
Total liabilities, end of year
$4,329
Net assets or fund balances, end of year
$14,529,006
Program services expenses (Part IX)
$2,411,699
Management and general expenses
$99,079
Fundraising expenses
$50,276
Program service expenses (Part III)
$2,411,699

Program services were 94.2% 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

    $1,937,170

  • 1g · Noncash contributions included above

    $29,670

  • 3 · Investment income

    total $436,943 · excluded $436,943

  • 7a · Gross sales of assets other than inventory

    securities $22,818,638 · other assets $285,000

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

    securities $22,983,436 · other assets $142,945

  • 7c · Gain or loss

    securities -$164,798 · other assets $142,055

  • 7d · Net gain or loss

    total -$22,743 · excluded -$22,743

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,351,422 · program services $2,351,422

  • 2 · Grants to domestic individuals

    total $49,210 · program services $49,210

  • 11c · Fees: accounting

    total $7,500 · management and general $7,500

  • 11e · Fees: professional fundraising services

    total $12,500 · fundraising $12,500

  • 11f · Fees: investment management

    total $42,806 · management and general $42,806

  • 11g · Fees: other

    total $31,545 · management and general $31,545

  • 12 · Advertising and promotion

    total $1,500 · fundraising $1,500

  • 13 · Office expenses

    total $1,767 · management and general $1,520 · fundraising $247

  • 17 · Travel

    total $14,459 · program services $11,067 · management and general $3,392

  • 24a · Other expenses: MISCELLANEOUS EXPENSE

    total $48,345 · management and general $12,316 · fundraising $36,029

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $215,550 · end of year $111,935

  • 2 · Savings and temporary cash investments

    beginning of year $3,849,371 · end of year $3,644,640

  • 3 · Pledges and grants receivable

    beginning of year $28,821 · end of year $24,525

  • 4 · Accounts receivable

    beginning of year $9,806 · end of year $23,053

  • 9 · Prepaid expenses and deferred charges

    end of year $1,741

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

    $79,000

  • 10c · Land, buildings and equipment, net

    beginning of year $204,000 · end of year $79,000

  • 11 · Investments: publicly traded securities

    beginning of year $9,717,333 · end of year $10,553,752

  • 15 · Other assets

    beginning of year $88,068 · end of year $94,689

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,815 · end of year $4,329

  • 27 · Net assets without donor restrictions

    beginning of year $3,839,994 · end of year $3,648,630

  • 28 · Net assets with donor restrictions

    beginning of year $10,269,140 · end of year $10,880,376

Mission and programs · 2022

Mission

THE PURPOSES OF THE FOUNDATION ARE TO FOSTER PUBLIC UNDERSTANDING OF, AND SUPPORT FOR, FORSYTH TECHNICAL COMMUNITY COLLEGE AND TO SOLICIT AND PROMOTE DONATIONS OF ANY KIND FOR THE EXCLUSIVE BENEFIT OF THE COLLEGE.

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $927,863 · Grants $916,796

  • CONTRIBUTIONS TO FORSYTH TECHNICAL COMMUNITY COLLEGE FOR THE SUPPORT OF THEIR OVER 275 (247 CURRICULUM) EDUCATIONAL PROGRAMS PROVIDED TO OVER 11,000 CREDIT STUDENTS AND 9,000 CORPORATE AND CONTINUING EDUCATION STUDENTS.

    Expenses $1,483,836 · Grants $1,483,836

As filed on the 2022 return. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • Dr Janet Spriggs

    SECRETARY

    Total calculated
    $361,974
    From this org
    $0
    From related orgs
    $272,002
    Other
    $89,972
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $272,002 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $80,179 related
    Nontaxable benefits
    $0 + $9,793 related
    Filer's total
    $0 + $361,974 related

  • Kizzy Lea

    TREASURER

    Total calculated
    $208,622
    From this org
    $0
    From related orgs
    $158,173
    Other
    $50,449
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $158,173 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $41,795 related
    Nontaxable benefits
    $0 + $8,654 related
    Filer's total
    $0 + $208,622 related

  • William Green

    EXECUTIVE DIRECTOR

    Total calculated
    $152,132
    From this org
    $0
    From related orgs
    $113,707
    Other
    $38,425
    Hours/week
    32 + 8 related

    Schedule J breakdown matched by us

    Base
    $0 + $113,707 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $29,771 related
    Nontaxable benefits
    $0 + $8,654 related
    Filer's total
    $0 + $152,132 related

  • Charles Corpening

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Ginger Salt

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Brent Collins

    FIRST VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Precious Quire-McCloud

    SECOND VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Beth Baldwin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Scott Carpenter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sherry Carpenter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Cocklereece

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brajan Funes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Edward Griggs

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Stephan Lillie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Amanda Locklear

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ann Watts

    DIRECTOR

    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. 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

None.

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

  • FORSYTH TECHNICAL COMMUNITY COLLEGE

    $1,421,036

    EDUCATION PROGRAMS

  • FORSYTH TECHNICAL COMMUNITY COLLEGE

    $910,586

    SCHOLARSHIPS

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.

  • FORSYTH TECHNICAL COMMUNITY COLLEGE

    501(C)(3) · COLLEGE · NC

Provenance

Return type
form_990
Tax year
2022
Filed
13 December 2023
IRS schema version
2022v5.0
Source object
202333479349301503

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