Form 990 for tax year 2022

Totals

Total revenue

$5,006,881

Total expenses

$4,811,518

Contributions and grants received

$4,522,874

Grants paid

$3,123,111

Program service revenue

$0

Investment income

$484,007

Other revenue

$0

Total assets, end of year

$15,491,078

Total liabilities, end of year

$636,935

Net assets or fund balances, end of year

$14,854,143

Program services expenses (Part IX)

$3,801,874

Management and general expenses

$590,488

Fundraising expenses

$419,156

Program service expenses (Part III)

$3,801,874

Program services were 79.0% 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.

Mission and programs · 2022

• SINCE 2006, THE FOUNDATION HAS SUPPORTED HUNDREDS OF STUDENTS ACROSS VIRGINIA'S 23 COMMUNITY COLLEGES THROUGH ITS SCHOLARSHIPS AND FELLOWSHIPS PROGRAM. THANKS TO OUR GENEROUS PARTNERS, THE VFCCE HAS AWARDED MORE THAN $6 MILLION IN SCHOLARSHIPS, HELPING STUDENTS INCREASE THEIR CHANCES OF SUCCESS. FOR THE 2022 -23 ACADEMIC YEAR, 130 SCHOLARSHIPS WERE AWARDED, TOTALING $549,400. THE PRESTIGIOUS FELLOWS PROGRAM AWARDS HIGH-ACHIEVING SECOND-YEAR STUDENTS WITH FULL SCHOLARSHIP SUPPORT TO COMPLETE ASSOCIATE DEGREES AND DEVELOP LEADERSHIP SKILLS THROUGH A COHORT MODEL. SINCE ITS LAUNCH IN 2011, 257 STUDENTS HAVE RECEIVED FINANCIAL SUPPORT, MENTORING, AND LEADERSHIP TRAINING THROUGH THE FELLOWS PROGRAM. COLLEGE ATTAINMENT FOR PARENT STUDENTS (CAPS)THE VIRGINIA FOUNDATION FOR COMMUNITY COLLEGE EDUCATION (VFCCE) LAUNCHED A SCALABLE INITIATIVE IN 2023 TO SUPPORT SINGLE PARENTS FROM LOW-INCOME BACKGROUNDS. THE COLLEGE ATTAINMENT FOR PARENT STUDENTS (CAPS) PROGRAM ADVANCES A TWO-GENERATION, ANTI-POVERTY SOLUTION THAT INCREASES EMPLOYMENT AND INCOME OPPORTUNITIES BY PROVIDING FINANCIAL ASSISTANCE AND COACHING SERVICES TO 100 PARENT STUDENTS ACROSS FIVE COLLEGES. WHILE THE PILOT PROGRAM IS SERVING STUDENTS DIRECTLY, IT IS ALSO HELPING TO IDENTIFY STRUCTURAL CHALLENGES THAT ARE HINDERING PARENT-STUDENT SUCCESS.

  Expenses $2,034,423 · Grants $1,800,579

• THE GREAT EXPECTATIONS PROGRAM HELPS YOUNG PEOPLE WHO HAVE NAVIGATED THE FOSTER CARE SYSTEM COMPLETE HIGH SCHOOL, GAIN ACCESS AND SUCCEED IN COLLEGE, AND TRANSITION SUCCESSFULLY TO LIVING INDEPENDENTLY. GREAT EXPECTATIONS STUDENTS HAVE ALMOST TRIPLED THE AVERAGE COLLEGE GRADUATION RATE FOR FOSTER YOUTH, WITH 23% OF GE STUDENTS OBTAINING A COLLEGE CREDENTIAL COMPARED TO ONLY 8% WHO GRADUATE NATIONALLY. ALMOST 1,612 DEGREES, DIPLOMAS, CERTIFICATES, AND CREDENTIALS HAVE BEEN AWARDED TO 933 STUDENTS WHO HAVE EXPERIENCED FOSTER CARE SINCE GREAT EXPECTATIONS' INCEPTION IN 2008. APPROXIMATELY 25% OF GREAT EXPECTATIONS STUDENTS GRADUATE WITH ACADEMIC HONORS, AND MANY GRADUATES CONTINUE TO SET THEIR GOALS AND EXPECTATIONS OF THEMSELVES HIGHER AND HIGHER.

  Expenses $315,987 · Grants $264,438

• THE RURAL VIRGINIA HORSESHOE INITIATIVE (RVHI), ESTABLISHED IN 2014, HAS BEEN RENAMED TO THE GERALD L. BALILES RURAL VIRGINIA HORSESHOE INITIATIVE AWARD CONTINUING THE MISSION TO RAISE EDUCATIONAL ATTAINMENT LEVELS FOR STUDENTS IN RURAL VIRGINIA. RVHI PROVIDES CAREER COACHES IN RURAL HIGH SCHOOLS TO ENCOURAGE HIGH SCHOOL AND COLLEGE COMPLETION AND OFFERS FINANCIAL INCENTIVES AND TO ASSIST ADULT LEARNERS RETURN TO HIGHER EDUCATION AND TRAINING.14 RURAL COMMUNITY COLLEGES ARE ELIGIBLE TO PARTICIPATE IN THE PROGRAM. THE PROGRAM HAS TWO 10-YEAR GOALS. ONE IS TO REDUCE THE NUMBER OF RESIDENTS OF THE RURAL HORSESHOE REGION THAT HAVE NOT EARNED A HIGH SCHOOL DIPLOMA BY HALF, FROM 20% TO 10%. SINCE 2012, THAT METRIC HAS LOWERED TO 12.7%. THE OTHER IS TO DOUBLE THE POPULATION IN THE RURAL HORSESHOE WITH AN ASSOCIATE DEGREE OR CAREER CERTIFICATION. IN 2012, THAT PERCENTAGE WAS 26%. AS OF THIS REPORT, THAT METRIC IS UP TO 33%.IN FY'23, 9,652 STUDENTS WERE SERVED BY 65 HIGH SCHOOL CAREER COACHES, EITHER ON A ONE-TO-ONE BASIS, OR IN SMALL GROUPS. A TOTAL OF 61,107 HIGH SCHOOL STUDENTS HAVE BEEN SERVED BY A CAREER COACH BETWEEN JULY 1, 2014 AND JUNE 30, 2023. THANKS TO ENGAGED DONORS, THE VFCCE PROVIDES MATCH FUNDING THAT IS LEVERAGED BY LOCAL COLLEGE FOUNDATIONS TO SUPPORT THE PROGRAM.

  Expenses $390,494 · Grants $387,818

• BY 2026, THE VIRGINIA EMPLOYMENT COMMISSION EXPECTS THERE TO BE 2.6 MILLION MIDDLE SKILLED JOBS IN VIRGINIA JOBS THAT REQUIRE SOME TRAINING, BUT NOT A FOUR-YEAR DEGREE. IN 2016, VIRGINIA'S GENERAL ASSEMBLY ENACTED LANDMARK LEGISLATION, THE NEW ECONOMY WORKFORCE CREDENTIAL GRANT, PROVIDING STATE FINANCIAL AID FOR UP TO 2/3 OF THE COST FOR STUDENTS PURSUING APPROVED NONCREDIT WORKFORCE DEVELOPMENT PROGRAMS THAT PREPARE STUDENTS FOR HIGH DEMAND CAREERS IN TARGETED INDUSTRIES IN THE COMMONWEALTH. OVER 53,000 STUDENTS HAVE EARNED CREDENTIALS IN THESE HIGH DEMAND TRAINING PROGRAMS IN INDUSTRY SECTORS SUCH AS HEALTHCARE, SKILLED TRADES, TRANSPORTATION AND LOGISTICS, EDUCATION, AND INFORMATION TECHNOLOGY. UPON COMPLETION, STUDENTS SEE AVERAGE WAGE GAINS OF 55 PERCENT AND GAIN ACCESS TO BENEFITS SUCH AS EMPLOYER-PAID MEDICAL INSURANCE, PAID VACATION, AND SICK LEAVE. ALTHOUGH PUBLIC FUNDS SUPPORT TWO-THIRDS OF PROGRAM COSTS, OFTENTIMES, PARTICULARLY FOR THOSE FROM UNDERSERVED COMMUNITIES, THE REMAINING ONE-THIRD OR OTHER NON-TUITION BARRIERS INCLUDING TRANSPORTATION, CHILDCARE, AND EQUIPMENT COSTS, SERVE AS A BARRIER TO STARTING OR COMPLETING A SHORT-TERM CREDENTIAL.

  Expenses $1,060,970 · Grants $670,276

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

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.

Grants on this return

• BRIGHTPOINT COMMUNITY COLLEGE

  $306,395

  TO SUPPORT THE MELLON, CAPS AND WORKFORCE PROGRAMS.

• VIRGINIA COMMUNITY COLLEGE SYSTEM

  $196,099

  TO SUPPORT THE MELLON AND WORKFORCE PROGRAMS.

• J SARGEANT REYNOLDS COMMUNITY COLLEGE

  $159,354

  TO SUPPORT THE MELLON PROGRAM.

• SOUTHSIDE VIRGINIA COMMUNITY COLLEGE EDUCATIONAL FOUNDATION

  $111,364

  TO SUPPORT THE RURAL VIRGINIA HORSESHOE INIATIVE, STUDENT EMERGENCY AND WORKFORCE PROGRAMS.

• RAPPAHANNOCK COMMUNITY COLLEGE EDUCATIONAL FOUNDATION

  $90,295

  TO SUPPORT THE RURAL VIRGINIA HORSESHOE INIATIVE, STUDENT EMERGENCY AND WORKFORCE PROGRAMS.

• EASTERN SHORE COMMUNITY COLLEGE FOUNDATION

  $84,005

  TO SUPPORT THE RURAL VIRGINIA HORSESHOE INIATIVE, STUDENT EMERGENCY AND WORKFORCE PROGRAMS.

• SOUTHWEST VIRGINIA COMMUNITY COLLEGE EDUCATIONAL FOUNDATION

  $72,051

  TO SUPPORT THE RURAL VIRGINIA HORSESHOE INIATIVE, STUDENT EMERGENCY AND WORKFORCE PROGRAMS.

• VIRGINIA HIGHLANDS COMMUNITY COLLEGE EDUCATIONAL FOUNDATION

  $67,500

  TO SUPPORT GREAT EXPECTATIONS AND STUDENT EMERGENCY PROGRAMS.

• MOUNTAIN EMPIRE COMMUNITY COLLEGE EDUCATIONAL FOUNDATION

  $67,195

  TO SUPPORT THE RURAL VIRGINIA HORSESHOE INIATIVE, STUDENT EMERGENCY AND WORKFORCE PROGRAMS.

• PATRICK HENRY COMMUNITY COLLEGE EDUCATION FOUNDATION

  $51,451

  TO SUPPORT THE RURAL VIRGINIA HORSESHOE INIATIVE, STUDENT EMERGENCY AND WORKFORCE PROGRAMS.

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type

form_990

Tax year

2022

Filed

10 May 2024

IRS schema version

2022v5.0

Source object

202411349349300846

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.