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Higher Education Foundation FY2022 filing

Beckley, WVUnknown exempt organizationEIN 26-0345821

The purpose of the foundation is the furtherance of all aspects of higher education both public and private,for students of all ages; facilities are open for a fee to all organizations,private or public,business or labor, to provide post-secondary educatioanl opportunities that meet both community and educational standards as directed by board.

98¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $204K a year · 7056% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.9 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5K
+100% vs prior year
Spent
$260K
To programs
98%
Net assets
$6.9M
By yearFY2021–FY2025
Revenue
$5K
FY2022▲ +100%
Revenue by fiscal year
FY2021$2K
FY2022$5K
FY2023$7K
FY2024$0
FY2025$0
Expenses
$260K
FY2022+0.5%
Expenses by fiscal year
FY2021$259K
FY2022$260K
FY2023$249K
FY2024$250K
FY2025$16K
Net assets
$6.9M
FY2022▼ -4%
Net assets by fiscal year
FY2021$7.2M
FY2022$6.9M
FY2023$6.7M
FY2024$6.4M
FY2025$0

From the FY2022 Form 990 (year ending June 2022) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $255K Management & general 2% · $5K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Tom Lemeke
President
$0Pt VII · Sec A
William Baker
V. Pres/Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Drpaul Hill
Ex-Officio
$0Pt VII · Sec A
Dr Sarah Tucker
Ex-Officio
$0Pt VII · Sec A
See Higher Education Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports higher education for all ages and offers facilities for post-secondary learning.

Provided by the organization

This section is blank until Higher Education Foundation claims this page.

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1 program service account for $255K of program spending, described in the organization's own filed words · FY2021.
01

The creation of a college campus to house the outreach initiatives of all public institutions of higher learning in a multi county area of southern west virginia

$255Kprogram expense

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By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$5K
Ln 12
Fees for servicesLn 2g$5K
Money outPt IX
$260K
Ln 25
Programscol B$255K
Managementcol C$5K
Owns and owesPt X
$6.9M
net assets · Ln 32
Cash and savingsLn 1–2$19K
Total assetsLn 16$6.9M
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$5K
Total revenueLn 12$5K
Assets in detailPt X, end of year
CashLn 1$19K
Cash and savings togetherLn 1–2$19K
Land, buildings, equipmentLn 10c$6.9M
Total assetsLn 16$6.9M
LiabilitiesLn 26$0
Net assetsLn 32$6.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$20K$19K
Land, buildings, equipmentLn 10c$7.1M$6.9M
Total assetsLn 16$7.2M$6.9M
LiabilitiesLn 26$0$0
Net assetsLn 32$7.2M$6.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$2K$1K$1K
Depreciation, depletion and amortizationLn 22$254K$254K
Other expenses (24a–d)Ln 24$4K$4K
Total functional expensesLn 25$260K$255K$5K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $0$16K−$16K$0 990 PDF
FY2024 $0$250K−$250K$6.4M 990 PDF
FY2023 $7K$249K−$242K$6.7M 990 PDF
FY2022 Viewing $5K$260K−$255K$6.9M 990 PDF
FY2021 $2K$259K−$256K$7.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (4 parts)
Part VIII · Statement of revenue $5,000 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,000$5,000
VIII-12 Total revenueRelated to mission $5,000 · Unrelated business $0 · Excluded from tax $0$5,000
Part IX · Statement of functional expenses $260,035 across 3 lines filed
IX-11c Accounting feesPrograms $1,025 · Management $1,025$2,050
IX-22 Depreciation, depletion and amortizationPrograms $253,779$253,779
IX-24 Other expenses (24a–d)Management $4,206$4,206
IX-25 Total functional expensesPrograms $254,804 · Management $5,231 · Fundraising $0$260,035
Part X · Balance sheet $6,895,600 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $20,374$19,118
X-10c Land, buildings and equipment, netStart of year $7,130,261$6,876,482
X-16 Total assetsStart of year $7,150,635$6,895,600
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $7,150,635$6,895,600
X-33 Total liabilities and net assetsStart of year $7,150,635$6,895,600
Part XI · Reconciliation of net assets $6,895,600 net assets at year end
XI-1 Total revenue$5,000
XI-2 Total expenses$260,035
XI-3 Revenue less expenses−$255,035
XI-4 Net assets at start of year$7,150,635
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$6,895,600

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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