Northeastern Technical College Foundation FY2022 filing

Tax-deductible

Cheraw, SC501(c)(3)Since 1979EIN 57-0690280

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The purpose of the Foundation shall be to develop and administer a program for the welfare of Northeastern Technical College. The program shall be administered in conjunction with, or a supplement to, and consistent with an official government program for Northeastern Technical College.

501(c)(3) charity; gifts are tax-deductible.
76¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $277K a year · 60% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
76%
of spending
Looks good: 76% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
64 mo
of spending, in cash
Looks good: 64.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $22K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$40K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$669K
+43% vs prior year
Spent
$167K
To programs
76%
Net assets
$2.4M
By yearFY2021–FY2024
Revenue
$669K
FY2022▲ +43%
Revenue by fiscal year
FY2021$467K
FY2022$669K
FY2023$403K
FY2024$301K
FY2024$411K
Expenses
$167K
FY2022▼ -26%
Expenses by fiscal year
FY2021$227K
FY2022$167K
FY2023$204K
FY2024$133K
FY2024$278K
Net assets
$2.4M
FY2022▲ +25%
Net assets by fiscal year
FY2021$1.9M
FY2022$2.4M
FY2023$2.5M
FY2024$2.6M
FY2024$2.8M

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

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1981.

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

Where the money goes

76 cents of each dollar spent went to programs.

Program services 76% · $127K Management & general 21% · $35K Fundraising 3% · $6K

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

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Who runs it and what they're paid

11 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
President, Netc
$0Pt VII · Sec A
Finance Chairman
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Northeastern Technical College 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 Northeastern Technical College's educational programs and student success.

Provided by the organization

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1 program service account for $127K of program spending, described in the organization's own filed words · FY2021.
01

The foundation is the support for northeastern technical college training program for current companies, future companies and for the local counties and communities.

$127Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$22K
Grants paid · 8 grants · $501K · 2020–2024
Northeastern Technical CollegeFY2024$171,997
Unitemized GrantFY2023$33,721
Northeastern Technical CollegeFY2023$21,250
Northeastern Technical CollegeFY2022$98,352
Unitemized GrantFY2022$23,501
Northeastern Technical CollegeFY2021$45,016
Unitemized GrantFY2021$35,103
Northeastern Technical CollegeFY2020$72,550

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$669K
Ln 12
Gifts and grantsLn 1h$593K
Fees for servicesLn 2g$67K
Investment incomeLn 3$9K
Money outPt IX
$167K
Ln 25
Programscol B$127K
Managementcol C$35K
Fundraisingcol D$6K
Owns and owesPt X
$2.4M
net assets · Ln 32
Cash and savingsLn 1–2$893K
Total assetsLn 16$2.4M
LiabilitiesLn 26$40K
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$593K
Fees for servicesLn 2g$67K
Investment incomeLn 3$9K
Gains on assetsLn 7$9K
Total revenueLn 12$669K
Assets in detailPt X, end of year
CashLn 1$34K
SavingsLn 2$859K
Cash and savings togetherLn 1–2$893K
InvestmentsLn 11–13$172K
Land, buildings, equipmentLn 10c$1.2M
Other assetsLn 15$0
Total assetsLn 16$2.4M
LiabilitiesLn 26$40K
Net assetsLn 32$2.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
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$539K$893K
InvestmentsLn 11–13$190K$172K
Land, buildings, equipmentLn 10c$1.1M$1.2M
Total assetsLn 16$1.9M$2.4M
LiabilitiesLn 26$0$40K
Net assetsLn 32$1.9M$2.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$45K$45K
Grants to domestic individualsLn 2$35K$35K
Legal feesLn 11b$957$957
Lobbying feesLn 11d$12K$12K
Investment management feesLn 11f$1K$1K
Other fees for servicesLn 11g$7K$7K
Office expensesLn 13$2K$2K
OccupancyLn 16$16K$11K$6K
Conferences, conventions and meetingsLn 19$484$484
Depreciation, depletion and amortizationLn 22$46K$46K
InsuranceLn 23$697$697
Total functional expensesLn 25$167K$127K$35K$6K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $301K$133K$168K$2.6M 990 PDF
FY2023 $403K$204K$199K$2.5M 990 PDF
FY2022 Viewing $669K$167K$502K$2.4M 990 PDF
FY2021 $467K$227K$240K$1.9M 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 $668,910 across 6 lines filed
VIII-1f All other contributions, gifts and grants$592,836
VIII-1h Total contributions, gifts and grants$592,836
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $66,910$66,910
VIII-3 Investment incomeExcluded from tax $489$489
VIII-7 Net gain or loss on sales of assetsExcluded from tax $8,675$8,675
VIII-12 Total revenueRelated to mission $66,910 · Unrelated business $0 · Excluded from tax $9,164$668,910
Part IX · Statement of functional expenses $166,857 across 11 lines filed
IX-1 Grants to domestic organizationsPrograms $45,016$45,016
IX-2 Grants to domestic individualsPrograms $35,103$35,103
IX-11b Legal feesManagement $957$957
IX-11d Lobbying feesManagement $12,376$12,376
IX-11f Investment management feesManagement $1,341$1,341
IX-11g Other fees for servicesManagement $6,600$6,600
IX-13 Office expensesManagement $1,826$1,826
IX-16 OccupancyManagement $10,511 · Fundraising $5,527$16,038
IX-19 Conferences, conventions and meetingsManagement $484$484
IX-22 Depreciation, depletion and amortizationPrograms $46,419$46,419
IX-23 InsuranceManagement $697$697
IX-25 Total functional expensesPrograms $126,538 · Management $34,792 · Fundraising $5,527$166,857
Part X · Balance sheet $2,449,432 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $144,963$33,812
X-2 Savings and temporary cash investmentsStart of year $394,428$859,143
X-3 Pledges and grants receivableStart of year $115,000$143,504
X-10c Land, buildings and equipment, netStart of year $1,060,466$1,240,509
X-11 Publicly traded securitiesStart of year $190,160$172,464
X-15 Other assetsStart of year $28,215$0
X-16 Total assetsStart of year $1,933,232$2,449,432
X-19 Deferred revenueStart of year $0$39,507
X-26 Total liabilitiesStart of year $0$39,507
X-27 Net assets without donor restrictionsStart of year $1,268,463$1,334,412
X-28 Net assets with donor restrictionsStart of year $664,769$1,075,513
X-32 Total net assets or fund balancesStart of year $1,933,232$2,409,925
X-33 Total liabilities and net assetsStart of year $1,933,232$2,449,432
Part XI · Reconciliation of net assets $2,409,925 net assets at year end
XI-1 Total revenue$668,910
XI-2 Total expenses$166,857
XI-3 Revenue less expenses$502,053
XI-4 Net assets at start of year$1,933,232
XI-5 Net unrealized gains (losses) on investments−$25,360
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,409,925

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

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