Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $5,730,516

• 1g · Noncash contributions included above

  $12,321

• 3 · Investment income

  total $1,265,583 · excluded $1,265,583

• 6a · Gross rents

  real property $100,000

• 6c · Rental income or loss

  real property $100,000

• 6d · Net rental income or loss

  total $100,000 · excluded $100,000

• 7a · Gross sales of assets other than inventory

  securities $6,222,561 · other assets $261,237

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

  securities $5,076,881

• 7c · Gain or loss

  securities $1,145,680 · other assets $261,237

• 7d · Net gain or loss

  total $1,406,917 · excluded $1,406,917

• 11a · Other revenue: STUDENT FEES

  total $77,149 · excluded $77,149

• 11e · Other revenue, total

  $77,149

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $19,780 · program services $19,780

• 2 · Grants to domestic individuals

  total $3,899,957 · program services $3,899,957

• 11a · Fees: management

  total $140,060 · management and general $35,015 · fundraising $105,045

• 11c · Fees: accounting

  total $6,759 · management and general $6,759

• 11f · Fees: investment management

  total $166,957 · management and general $166,957

• 13 · Office expenses

  total $18,743 · management and general $4,686 · fundraising $14,057

• 14 · Information technology

  total $12,833 · management and general $12,833

• 17 · Travel

  total $2,812 · management and general $703 · fundraising $2,109

• 24a · Other expenses: FUNDRAISING

  total $12,089 · fundraising $12,089

• 24b · Other expenses: MEALS

  total $2,223 · management and general $556 · fundraising $1,667

• 24c · Other expenses: MISCELLANEOUS

  total $1,771 · management and general $443 · fundraising $1,328

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $117,671 · end of year $75,801

• 3 · Pledges and grants receivable

  beginning of year $795,000 · end of year $1,285,000

• 4 · Accounts receivable

  beginning of year $14,487

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

  $719,529

• 10c · Land, buildings and equipment, net

  beginning of year $719,529 · end of year $719,529

• 13 · Investments: program-related

  beginning of year $41,436,764 · end of year $46,738,646

• 15 · Other assets

  beginning of year $125,086 · end of year $146,770

• 17 · Accounts payable and accrued expenses

  beginning of year $7,316 · end of year $169,909

• 25 · Other liabilities

  beginning of year $30,026 · end of year $31,388

• 27 · Net assets without donor restrictions

  beginning of year $2,047,343 · end of year $2,220,512

• 28 · Net assets with donor restrictions

  beginning of year $41,123,852 · end of year $46,543,937

The filer's explanations (Part III)

SCHEDULE J, PART III

AMY JORGENS IS AN EMPLOYEE OF SOUTHEAST COMMMUNITY COLLEGE. SHE SPENDS APPROXIMATELY 10% OF HER TIME WORKING WITH THE FOUNDATION. HER WAGES ARE PAID BY SOUTHEAST COMMUNITY COLLEGE, RATHER THAN THE FOUNDATION. THE FOUNDATION RECORDS REVENUE FOR CONTRIBUTED SERVICES AND EXPENSES FOR THE USE OF CONTRIBUTED SERVICES FOR FINANCIAL STATEMENT PURPOSES.