Virginia Western Community College Educational Founation Inc in Roanoke, Virginia (VA)

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Virginia Western Community College Educational Founation Inc
Employer Identification Number (EIN)521200913
Name of OrganizationVirginia Western Community College Educational Founation Inc
AddressPO BOX 14007, Roanoke, VA 24038-4007
SubsectionCharitable Organization
Ruling Date04/1981
DeductibilityContributions are deductible
FoundationOrganizations operated solely for the benefit of and in conjunction with organizations described in 10 through 16 above
OrganizationAssociation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$10,000,000 to $49,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$12,938,098
Amount of Income$4,450,611
Form 990 Revenue Amount$1,910,148
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Community or Junior Colleges


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Amount of income in 2013: $4,450,611 (it was $9,140,767 in 2012)
This organization: 

 $4,450,611
Other organizations performing similar types of work: 

 $4,450,611

Assets in 2013: $12,938,098 (it was $11,300,356 in 2012)
Virginia Western Community College Educational Founation Inc: 

 $12,938,098
Other organizations performing similar types of work: 

 $7,072,342

Expenses in 2013: $1,073,132
This organization: 

 $1,073,132
Other organizations performing similar types of work: 

 $2,433,366

Income to expenses ratio in 2013: 4.1
This organization: 

 4.1
Other organizations performing similar types of work: 

 1.1

Grants share in income in 2013: 79.2%
This organization: 

 79.2%
Other organizations performing similar types of work: 

 3.7%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Support schedule

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?YesYes
Is the organization required to complete Schedule B, Schedule of Contributors?YesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?YesYes
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?NoNo
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNo
Did the organization report an amount for other liabilities?NoNo
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?YesYes
Did the organization obtain separate, independent audited financial statements for the tax year?YesYes
Was the organization included in consolidated, independent audited financial statements for the tax year?YesYes
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?NoNo
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?YesYes
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?YesYes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?NoNo
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?NoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?NoNo
Did the organization receive more than $25,000 in non-cash contributions?NoYes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?YesYes
Was the organization related to any tax-exempt or taxable entity?YesYes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?YesYes
Did the organization make any transfers to an exempt non-charitable related organization?YesYes
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
201120122013
The number reported in Box 3 of Form 1096611
The number of Forms W-2G00
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return00
Did the organization file all required federal employment tax returns?NoNo
Did the organization have unrelated business gross income of $1,000 or more during the year?NoNoNo
Has it filed a Form 990-T for this year?NoNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?NoNo
Did the organization notify the donor of the value of the goods or services provided?NoNo
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$10,000$25,000
Total reportable compensation from related organizations$179,220$178,271
Total estimated amount of other compensation from the organization and related organizations$23,032$39,919
Total number of individuals who received more than $100,000 of reportable compensation from the organization00
Total number of independent contractors who received more than $100,000 of compensation from the organization00
Statement of Revenue
201120122013
Total revenue$894,653$6,221,963$1,910,148
Contributions, Gifts, Grants and Other Similar Amounts$653,551$6,011,777$1,513,522
Program Service Revenue$0$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$130,155$151,059$174,141
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$0$0$0
Net rental income$0$0$0
Net gain/loss from sales of assets other than inventory$100,193$54,355$227,530
Gross amount from sales of assets other than inventory (Securities / Other)$2,627,481 / $0$2,973,159 / $0$2,767,993 / $0
Less: cost or other basis and sales expenses (Securities / Other)$2,527,288 / $0$2,918,804 / $0$2,540,463 / $0
Gain or (loss) (Securities / Other)$100,193 / $0$54,355 / $0$227,530 / $0
Net income/loss from fundraising events$0$0$0
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$0$0$0
Miscellaneous Revenue$10,754$4,772$-5,045
900099$4,772$-5,045
All other revenue$0$0
Statement of Functional Expenses
201120122013
Total functional expenses$592,718$633,060$1,073,132
Grants and other assistance to domestic organizations and domestic governments$55,262$55,000
Grants and other assistance to domestic individuals$350,520$529,940
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$0$0$25,000
Compensation not included above, to disqualified persons$0$0
Other salaries and wages$0$0$0
Pension plan accruals and contributions$0$0
Other employee benefits$0$0
Payroll taxes$0$0$0
Fees for services (non-employees)
Management$0$0
Legal$0$0
Accounting$37,025$30,372
Lobbying$0$0
Professional fundraising services$0$0$0
Investment management fees$24,687$35,560
Other$47,706$38,719
Advertising and promotion$36,804$60,224
Office expenses$0$4,296
Information technology$4,092$0
Royalties$0$0
Occupancy$0$0
Travel$8,880$8,051
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$0$0
Interest$0$0
Payments to affiliates$0$0
Depreciation, depletion, and amortization$4,453$2,923
Insurance$5,831$5,831
Other expenses$38,273$196,344
Other expenses$16,439$48,716
Other expenses$1,773$16,439
Other expenses$1,315$14,028
Other expenses$0$1,689
Balance Sheet
201120122013
Total assets$5,421,649$11,300,356$12,938,098
Cash - non-interest-bearing$0$0
Savings and temporary cash investments$1,383,206$1,090,912
Pledges and grants receivable, net$4,233,715$2,763,159
Accounts receivable, net$15,387$27,350
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$578,637$507,570
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$6,483$6,483
Land, buildings, and equipment: cost or other basis$13,715$10,792
Investments - publicly traded securities$5,040,529$8,509,924
Investments - other securities$0$0
Investments - program-related$0$0
Intangible assets$0$0
Other assets$28,684$21,908
Total liabilities$23,054$47,717$79,704
Accounts payable and accrued expenses$47,717$79,704
Grants payable$0$0
Deferred revenue$0$0
Tax-exempt bond liabilities$0$0$0
Escrow or custodial account liability$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$0$0$0
Unsecured notes and loans payable to unrelated third parties$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$0$0
Total net assets or fund balances$5,398,595$11,252,639$12,858,394
Unrestricted net assets$1,000,399$1,027,800
Temporarily restricted net assets$10,252,240$11,830,594
Permanently restricted net assets$0$0
Capital stock or trust principal, or current funds$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:A federal, state, or local government or governmental unit described in section 170(b)(1)(A)(v)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2009 - 2013)
2009 - 2013 Total
Public Support$11,874,704
Subtotal Support$11,874,704
Gifts, grants, contributions, and membership fees received$10,211,544
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$1,663,160
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$0
Total Support$12,505,078
Public Support$11,874,704
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$630,374
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income. Do not include gain or loss from the sale of capital assets$0
Gross receipts from related activities, etc.$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Mount Aloysius College7373 Admiral Peary Hwy, Cresson, PA 16630-1902PA1964-09$72,274,852
2Raritan Valley Community College Dir Of Budget & Finance OfficePO BOX 3300, Somerville, NJ 08876-1265NJ1969-02$62,614,577
3Southern Virginia University1 University Hill Dr, Buena Vista, VA 24416-3038VA1960-02$20,896,413
4Salish Kootenai College IncPO BOX 70, Pablo, MT 59855-0070MT1979-08$29,371,601
5Truett Mcconnell College100 Alumni Dr, Cleveland, GA 30528-1264GA1948-06$17,274,646
6Sierra College Foundation5000 Rocklin Rd, Rocklin, CA 95677-3337CA1974-10$4,661,459
7Virginia Western Community College Educational Founation IncPO BOX 14007, Roanoke, VA 24038-4007VA1981-04$4,450,611
8Woodbury College660 Elm St, Montpelier, VT 05602-4001VT1976-01$2,275,655
9Springfield College In Illinois1500 N 5th St, Springfield, IL 62702-2643IL1946-03$1,644,532
10Springfield Technical Community College Foundation Inc, Fleet National Bk Of Ma1 Armory Square, Springfield, MA 01105-1700MA1985-08$1,220,903
11Wytheville Community College Educational Foundation Inc1000 E Main St, Wytheville, VA 24382-3308VA1981-08$883,470
12Trinidad State Junior College Educational FoundationPO BOX 204, Trinidad, CO 81082-0204CO1978-06$635,781
13Southern West Virginia Community College FoundationPO BOX 1886, Logan, WV 25601-1886WV1990-10$520,643
14Castle College Inc21 Searles Rd, Windham, NH 03087-1203NH1946-03$0
15Chaffey College Financing Authority5885 Haven Ave, Rancho Cucamonga, CA 91737CA1995-12$0
16Fort Berthold Community CollegePO BOX 490, New Town, ND 58763-0490ND1978-08$0
17Georgia Military College201 E Greene St, Milledgeville, GA 31061-3519GA1943-03$0
18Hilton Head College Center Inc29 Wax Myrtle Ct, Hilton Head, SC 29926-1051SC1992-12$0
19Port-Au-Prince Christian Institute Inc145 Mckenney Ln, Sturgis, KY 42459-7176KY1997-12$0
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Number of organizations performing similar types of work
Alaska1
Arkansas2
California3
Colorado3
Florida2
Georgia3
Iowa1
Illinois2
Indiana2
Kentucky3
Massachusetts2
Maryland1
Michigan3
Minnesota1
Missouri2
Montana2
North Dakota3
New Hampshire3
New Jersey1
New York4
Ohio1
Oklahoma1
Pennsylvania4
South Carolina3
Tennessee2
Texas1
Virginia3
Vermont1
Washington1
West Virginia1
Wyoming1
Total63

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