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Nonprofiteer
← ROCK VALLEY COLLEGE FOUNDATION

Form 990 for tax year 2023

Filed by ROCK VALLEY COLLEGE FOUNDATION.

Totals

Total revenue
$1,108,338
Total expenses
$1,392,208
Contributions and grants received
$1,165,159
Grants paid
$814,871
Program service revenue
$0
Investment income
-$56,821
Other revenue
$0
Total assets, end of year
$20,495,112
Total liabilities, end of year
$1,760,173
Net assets or fund balances, end of year
$18,734,939
Program services expenses (Part IX)
$867,881
Management and general expenses
$387,765
Fundraising expenses
$136,562
Program service expenses (Part III)
$867,881

Program services were 62.3% 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

    $1,165,159

  • 1g · Noncash contributions included above

    $45,262

  • 3 · Investment income

    total $3,494 · excluded $3,494

  • 7a · Gross sales of assets other than inventory

    securities $177,782

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

    securities $238,097

  • 7c · Gain or loss

    securities -$60,315

  • 7d · Net gain or loss

    total -$60,315 · excluded -$60,315

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $249,163 · program services $249,163

  • 2 · Grants to domestic individuals

    total $565,708 · program services $565,708

  • 7 · Other salaries and wages

    total $382,135 · program services $19,107 · management and general $240,745 · fundraising $122,283

  • 11f · Fees: investment management

    total $74,180 · management and general $74,180

  • 11g · Fees: other

    total $12,431 · management and general $12,431

  • 13 · Office expenses

    total $28,060 · program services $1,262 · management and general $18,721 · fundraising $8,077

  • 14 · Information technology

    total $22,592 · management and general $22,592

  • 17 · Travel

    total $714 · management and general $714

  • 19 · Conferences, conventions and meetings

    total $10,866 · management and general $4,664 · fundraising $6,202

  • 24a · Other expenses: ADMINISTRATIVE FEES

    total $46,359 · program services $32,641 · management and general $13,718

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,682,758 · end of year $740,705

  • 3 · Pledges and grants receivable

    beginning of year $248,611 · end of year $128,807

  • 11 · Investments: publicly traded securities

    beginning of year $15,960,964 · end of year $19,625,600

  • 17 · Accounts payable and accrued expenses

    beginning of year $288 · end of year $627,287

  • 25 · Other liabilities

    beginning of year $786,982 · end of year $1,132,886

  • 27 · Net assets without donor restrictions

    beginning of year $5,110,588 · end of year $5,861,720

  • 28 · Net assets with donor restrictions

    beginning of year $11,994,475 · end of year $12,873,219

Mission and programs · 2023

Mission

THE ROCK VALLEY COLLEGE FOUNDATION'S MISSION IS TO BUILD REGIONAL RELATIONSHIPS AND SECURE RESOURCES TO ADVANCE RVC AND ITS STUDENTS.

Activities or mission (Part I)

THE ROCK VALLEY COLLEGE FOUNDATION PROVIDES SUPPORT TO ROCK VALLEY COLLEGE AND ITS STUDENTS.

  • FOUNDATION SCHOLARSHIPS GIVEN TO 405 STUDENTS ATTENDING ROCK VALLEY COLLEGE DURING THE YEAR ENDING JUNE 30, 2024 TOTALING $528,003.

    Expenses $528,003 · Grants $528,003

  • CONTRIBUTIONS TO ROCK VALLEY COLLEGE DURING THE YEAR ENDED JUNE 30, 2024. THE FOUNDATION PROVIDED CASH GRANTS AND ASSISTANCE TOTALING $249,163.

    Expenses $249,163 · Grants $249,163

  • THROUGH EMERGENCY RELIEF FUND AWARDS, THE RVC FOUNDATION HELPED KEEP 50 STUDENTS ENROLLED AND ON TRACK TO COMPLETION DURING UNEXPECTED FINANCIAL CRISIS. THESE FUNDS TOTALED $37,705.

    Expenses $37,705 · Grants $37,705

  • THE RVC FOUNDATION SECURED AND/OR MANAGED PROGRAM FUNDS TO SUPPORT 80 UNIQUE PROGRAMS WITHIN ROCK VALLEY COLLEGE RANGING FROM STUDENT CLUBS, EDUCATIONAL RESOURCES, CAMPUS BEAUTIFICATION, AND MORE.

    Expenses $53,010

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Robert W Senstrom

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • John Wolf

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Brent Bernardi

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Bridgett Coleman

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Steven Gunderson Do

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • James Pirages

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Brent Brodeski

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Jadediah Cantrel

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Lesly Couper

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Jamie Fanara

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Ira Grimmett

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Barry Kramer

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Tad Olson

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • James Waddell

    MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Brittany Freiberg

    CHIEF DEVELOPMENT OFFICER

    Total calculated
    $0
    Hours/week
    40

  • Ellen Olson

    TREASURER/CFO

    Total calculated
    $0
    Hours/week
    2

  • Sarah Shumway

    ASSISTANT TREASURER

    Total calculated
    $0
    Hours/week
    14

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.

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

The filer's explanations (Part III)

FORM 990, PART VII, LINE 5
ROCK VALLEY COLLEGE, AN UNRELATED ORGANIZATION TO ROCK VALLEY COLLEGE FOUNDATION, PAID THE FOLLOWING OFFICERS FOR SERVICES RENDERED TO ROCK VALLEY COLLEGE FOUNDATION IN 2023: BRITTANY FREIBERG (CHIEF DEVELOPMENT OFFICER) A BASE SALARY OF 104,632 AND NON-TAXABLE BENEFITS OF 38,738. ELLEN OLSON (TREASURER) A BASE SALARY OF 7,418 AND NON-TAXABLE BENEFITS OF 58. SARAH SHUMWAY (ASSISTANT TREASURER) A BASE SALARY OF 23,782 AND NON-TAXABLE BENEFITS OF 8,803.

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

  • ROCK VALLEY COLLEGE

    $203,901

    TO SUPPORT VARIOUS COLLEGE DEPARTMENTS AND PROGRAMS.

Provenance

Return type
form_990
Tax year
2023
Filed
17 December 2024
IRS schema version
2023v5.1
Source object
202403559349301100

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