Civic Intelligence

Kennebec Valley Community College Foundation

990 • Fiscal year 2021 • EIN 01-0471173

Jul 01, 2020 to Jun 30, 2021 • Filed on Nov 01, 2021

Organization ProfileWWW.KVCC.ME.EDU
92 Western AvenueFairfield, ME 04937-1367

(207) 453-5020

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

14th percentile

0.00x

Higher debt load relative to assets than 14% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

18th percentile

0.02x

Higher debt load relative to revenue than 18% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

81st percentile

39%

Higher net margin than 81% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

78th percentile

27%

Faster asset growth than 78% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

84th percentile

71%

Faster revenue growth than 84% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets14th percentile

Assets

Up

$5,369,576

Up $1,125,697 (+27%) from 2020

Net Assets

Up

$5,356,575

Up $1,137,670 (+27%) from 2020

Liabilities

Down

$13,001

Down $11,973 (-48%) from 2020

Revenue And Expenses
Liabilities / Revenue18th percentileNet Margin81st percentile

Revenue

Up

$579,733

Up $240,322 (+71%) from 2020

Expenses

Down

$351,631

Down $79,888 (-19%) from 2020

Net Income

Up

$228,102

Up $320,210 (+348%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth78th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $2,689,262Liabilities 2010: $2,258Net Assets 2010: $2,687,0042010Assets 2011: $3,239,884Liabilities 2011: $3,752Net Assets 2011: $3,236,1322011Assets 2012: $3,194,087Liabilities 2012: $23,021Net Assets 2012: $3,171,0662012Assets 2013: $3,473,369Liabilities 2013: $21,640Net Assets 2013: $3,451,7292013Assets 2014: $3,910,685Liabilities 2014: $13,506Net Assets 2014: $3,897,1792014Assets 2015: $4,125,530Liabilities 2015: $10,576Net Assets 2015: $4,114,9542015Assets 2016: $4,100,826Liabilities 2016: $80,706Net Assets 2016: $4,020,1202016Assets 2017: $4,198,187Liabilities 2017: $22,837Net Assets 2017: $4,175,3502017Assets 2018: $4,321,539Liabilities 2018: $28,158Net Assets 2018: $4,293,3812018Assets 2019: $4,500,571Liabilities 2019: $50,489Net Assets 2019: $4,450,0822019Assets 2020: $4,243,879Liabilities 2020: $24,974Net Assets 2020: $4,218,9052020Assets 2021: $5,369,576Liabilities 2021: $13,001Net Assets 2021: $5,356,5752021Assets 2022: $5,554,302Liabilities 2022: $19,664Net Assets 2022: $5,534,6382022Assets 2023: $5,562,726Liabilities 2023: $33,832Net Assets 2023: $5,528,8942023Assets 2024: $5,977,355Liabilities 2024: $67,475Net Assets 2024: $5,909,8802024Assets 2025: $6,365,417Liabilities 2025: $219,860Net Assets 2025: $6,145,5572025

Highlighted filing

2021

Assets$5,369,576
Liabilities$13,001
Net Assets$5,356,575
Open 2021 Filing

Operations Trend

Revenue Growth84th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2010: $191,0942010Expenses 2011: $149,6102011Expenses 2012: $273,4892012Revenue 2013: $879,602Expenses 2013: $253,997Net Income 2013: $625,6052013Revenue 2014: $475,474Expenses 2014: $288,812Net Income 2014: $186,6622014Revenue 2015: $660,216Expenses 2015: $371,148Net Income 2015: $289,0682015Revenue 2016: $461,320Expenses 2016: $699,373Net Income 2016: -$238,0532016Revenue 2017: $357,019Expenses 2017: $364,767Net Income 2017: -$7,7482017Revenue 2018: $1,046,178Expenses 2018: $354,470Net Income 2018: $691,7082018Revenue 2019: $501,436Expenses 2019: $395,706Net Income 2019: $105,7302019Revenue 2020: $339,411Expenses 2020: $431,519Net Income 2020: -$92,1082020Revenue 2021: $579,733Expenses 2021: $351,631Net Income 2021: $228,1022021Revenue 2022: $699,650Expenses 2022: $309,644Net Income 2022: $390,0062022Revenue 2023: $534,504Expenses 2023: $399,851Net Income 2023: $134,6532023Revenue 2024: $555,685Expenses 2024: $494,673Net Income 2024: $61,0122024Revenue 2025: $625,285Expenses 2025: $645,676Net Income 2025: -$20,3912025

Highlighted filing

2021

Revenue$579,733
Expenses$351,631
Net Income$228,102
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 1, 2021
Return Version
2020v4.1
Gross Receipts
$2,179,283
Mission and Program Overview

Mission

To provide scholarships to qualifying Kennebec Valley Community College (KVCC) students and financial support to the College to use in support of academic programs, capital investment and college operations.

To raise funds for scholarships, facilities and support for Kennebec Valley Community College.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,904,292$5,021,900▲ $1,117,608
Cash and Non-Interest-Bearing Accounts$285,589$312,830▲ $27,241
Savings and Temporary Cash Investments$51,998$34,846▼ $17,152
Accounts Receivable$2,000$0▼ $2,000
Total Assets$4,243,879$5,369,576▲ $1,125,697
Liabilities
Accounts Payable and Accrued Expenses$24,974$13,001▼ $11,973
Total Liabilities$24,974$13,001▼ $11,973
Net Assets / Fund Balance
Net Assets With Donor Restrictions$4,088,929$5,224,696▲ $1,135,767
Net Assets Without Donor Restrictions$129,976$131,879▲ $1,903
Total Net Assets Fund Balance$4,218,905$5,356,575▲ $1,137,670
Total Liabilities and Net Assets / Fund Balance$4,243,879$5,369,576▲ $1,125,697

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$3,904,292$294,151▲ $1,083,942-$5,021,900
2019$4,187,042$61,490▼ $34,245-$3,904,292
2018$4,075,606$193,946▲ $212,034-$4,187,042
2017$3,997,326$57,382▲ $296,054-$4,075,606
2016$3,901,088$37,614▲ $343,369-$3,997,326
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Dwight LittlefieldChair
John DaltonPast Chair
Bruce HarringtonVice Chair
Arne KochTrustee
Dan CoffeyTrustee
Donald BormanTrustee
Jeffrey TraskTrustee
Jenni Tilton-FloodTrustee
John E MardenTrustee
John SuttonTrustee
Michael CrowellTrustee
Nancy SmithTrustee
Peter HallenTrustee
Sara J SylvesterTrustee
Karen NormandinSecretary
Melissa HigginsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$380,984
Program Service Revenue
$0
Investment Income
$198,749
Other Revenue
$0
All Other Contributions
$380,984
Change in Net Assets
$228,102

Audited Revenue Reconciliation

Revenue per Audited Statements
$556,284
Revenue Not Reported on Financial Statements
$23,449
Revenue Not Reported on Form 990
$914,391
Total Revenue per Audited Statements
$1,470,675
Total Revenue per Form 990
$579,733
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$211,596
Total Fundraising Expense$97,668
Salaries, Compensation, and Employee Benefits$89,763
Other Expenses$50,272
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$211,596--$211,596
Other Salaries and Wages--$61,541$61,541
Fees for Service Investment Mgmnt Fees-$23,449-$23,449
Other Employee Benefits--$20,130$20,130
Fees for Services Other-$8,750-$8,750
Pension Plan Contributions--$8,092$8,092
Other Expenses-$10,168$7,607$7,607
Total Functional Expenses$211,596$42,367$97,668$351,631

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$351,631
Total Expenses per Audited Statements$333,005
Expenses per Audited Statements$328,182
Expenses Not Reported on Financial Statements$23,449
Expenses Not Reported on Form 990$4,823
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
KvccFairfield, ME-Scholarships & Support$211,596
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 8B

“Line 9 explanation - The Foundation does not have any committee with the authority to act on behalf of the governing body. All committees are advisory in nature.”

Form 990, Part VI, Section B, line 11B

“The Foundation compares a draft copy of Form 990 prepared by an independent public accounting firm to the Foundation's audited financial statements. The return is then reviewed by interested members of the Board of Trustees.”

Form 990, Part VI, Section B, line 12C

“At the beginning of each meeting, the President of the Board of Trustees will ask if there are any conflicts of interest with any item on the agenda for that meeting. If there are no conflicts, the meeting proceeds uninterrupted.”

Form 990, Part VI, Section B, line 15

“Compensation is paid by Kennebec Valley Community College and the Foundation reimburses the College for the compensation and related benefits and taxes.”

Form 990, Part VI, Section C, line 19

“The Foundation makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Kennebec Valley Community College
EIN
01-0471173
Phone
2074535020
Address
92 Western Avenue, Fairfield, ME 04937-1367

Signing Officer

Name
Melissa Higgins
Title
Treasurer
Phone
2074535020
Signed
2021-11-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Melissa Higgins
Formed
1991
Legal Domicile
Me
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
15

Preparer

Firm
Wipfli LLP
Address
30 Long Creek Drive, South Portland, ME 04106-2437
Preparer
Patrick Nicholas CPA
Phone
2077745701
Supplemental Narrative

Financial Statement Notes

Part V, Line 4:

“Endowment funds were awarded as scholarships to eligible recipients. Eligibility is governed by the wishes of each respective donor and screening process accomplished by College financial aid staff prior to award.”

Part X, Line 2:

“The Foundation has been determined to be exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. Management has determined that the Foundation has no uncertain tax positions that require adjustment to the financial statements. The Foundation is currently open to examination under the statute of limitations by the Internal Revenue Service for three years after the filing of the return.”

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IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt01599550
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0To provide scholarships to qualifying Kennebec Valley Community College (KVCC) students and financial support to the College to use in support of academic programs, capital investment and college operations.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt04218905
IRS990/NetAssetsOrFundBalancesEOYAmt05356575
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt036492
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt036492
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0909568
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0129976
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0131879
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt020130
IRS990/OtherEmployeeBenefitsGrp/TotalAmt020130
IRS990/OtherExpensesGrp/Desc0Miscellaneous
IRS990/OtherExpensesGrp/Desc1Printing & Subscription
IRS990/OtherExpensesGrp/FundraisingAmt0298
IRS990/OtherExpensesGrp/FundraisingAmt17607
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt010168
IRS990/OtherExpensesGrp/TotalAmt010466
IRS990/OtherExpensesGrp/TotalAmt17607
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt061541
IRS990/OtherSalariesAndWagesGrp/TotalAmt061541
IRS990/PartialLiquidationInd00
IRS990/PensionPlanContributionsGrp/FundraisingAmt08092
IRS990/PensionPlanContributionsGrp/TotalAmt08092
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0Melissa Higgins
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0Grants to KVCC for academic support and capital purposes.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt070562
IRS990/ProgSrvcAccomActy2Grp/GrantAmt070562
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0205664
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0286242
IRS990/PYInvestmentIncomeAmt0128553
IRS990/PYOtherExpensesAmt040995
IRS990/PYOtherRevenueAmt05194
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-92108
IRS990/PYSalariesCompEmpBnftPaidAmt0104282
IRS990/PYTotalExpensesAmt0431519
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0339411
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0228102
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt051998
IRS990/SavingsAndTempCashInvstGrp/EOYAmt034846
IRS990ScheduleA/CollegeOrganizationInd0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0380984
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0205664
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0279889
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0109316
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0130478
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01106331
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0162257
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0109043
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0114306
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0106922
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0117569
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0610097
IRS990ScheduleA/PublicSupportCY170Pct00.40190
IRS990ScheduleA/PublicSupportPY170Pct00.38470
IRS990ScheduleA/PublicSupportTotal170Amt0689879
IRS990ScheduleA/SubstantialContributorsTotAmt0416452
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0380984
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0205664
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0279889
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0109316
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0130478
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01106331
IRS990ScheduleA/TotalSupportAmt01716428
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.00000
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt048889
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt03904292
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0294151
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt05021900
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0211596
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt01083942
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt023753
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt04187042
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt061490
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt03904292
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt0286242
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-34245
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt049187
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt04075606
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0193946
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt04187042
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt0245357
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0212034
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt061816
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt03997326
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt057382
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt04075606
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt0213340
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0296054
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt054978
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt03901088
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt037614
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt03997326
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt0229767
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0343369
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt04823
IRS990ScheduleD/DonatedServicesUseFcltsAmt04823
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/ExpensesNotReportedAmt04823
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt023449
IRS990ScheduleD/ExpensesSubtotalAmt0328182
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt023449
IRS990ScheduleD/InvestmentExpensesNotIncldAmt023449
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0909568
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct01.00000
IRS990ScheduleD/RevenueNotReportedAmt0914391
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt023449
IRS990ScheduleD/RevenueSubtotalAmt0556284
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Endowment funds were awarded as scholarships to eligible recipients. Eligibility is governed by the wishes of each respective donor and screening process accomplished by College financial aid staff prior to award.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The Foundation has been determined to be exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. Management has determined that the Foundation has no uncertain tax positions that require adjustment to the financial statements. The Foundation is currently open to examination under the statute of limitations by the Internal Revenue Service for three years after the filing of the return.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part V, Line 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part X, Line 2:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.00000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0351631
IRS990ScheduleD/TotalRevenuePerForm990Amt0579733
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01470675
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0333005
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0211596
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Scholarships & Support
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0KVCC
IRS990ScheduleI/RecipientTable/RecipientEIN0010416015
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt092 Western Ave
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Fairfield
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0ME
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd004937
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0A review of all source documents is conducted by the registered agent and periodically by the Treasurer of the Foundation. All invoices are reviewed, approved and processed for payment after the questions are resolved about invoices. There is a segregation of duties between the approvers and the registered agent who actually processes the payments to the college.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PART I, LINE 2
IRS990ScheduleI/Total501c3OrgCnt01
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Line 9 explanation - The Foundation does not have any committee with the authority to act on behalf of the governing body. All committees are advisory in nature.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Foundation compares a draft copy of Form 990 prepared by an independent public accounting firm to the Foundation's audited financial statements. The return is then reviewed by interested members of the Board of Trustees.

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,369,576
Liabilities
$13,001
Net assets
$5,356,575
Revenue
$579,733
Expenses
$351,631
Net income
$228,102
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$6.37$0.22$6.15$0.63$0.65$0.02
2024Detailed filing. Detailed filing data is available for this year.$5.98$0.07$5.91$0.56$0.49$0.06
2023Detailed filing. Detailed filing data is available for this year.$5.56$0.03$5.53$0.53$0.40$0.13
2022Detailed filing. Detailed filing data is available for this year.$5.55$0.02$5.53$0.70$0.31$0.39
2021Detailed filing. Detailed filing data is available for this year.$5.37$0.01$5.36$0.58$0.35$0.23
2020Detailed filing. Detailed filing data is available for this year.$4.24$0.02$4.22$0.34$0.43$0.09
2019Detailed filing. Detailed filing data is available for this year.$4.50$0.05$4.45$0.50$0.40$0.11
2018Detailed filing. Detailed filing data is available for this year.$4.32$0.03$4.29$1.05$0.35$0.69
2017Detailed filing. Detailed filing data is available for this year.$4.20$0.02$4.18$0.36$0.36$0.01
2016Detailed filing. Detailed filing data is available for this year.$4.10$0.08$4.02$0.46$0.70$0.24
2015Detailed filing. Detailed filing data is available for this year.$4.13$0.01$4.11$0.66$0.37$0.29
2014Detailed filing. Detailed filing data is available for this year.$3.91$0.01$3.90$0.48$0.29$0.19
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.47$0.02$3.45$0.88$0.25$0.63
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.19$0.02$3.17$0.27
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.24$0.00$3.24$0.15
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.69$0.00$2.69$0.19