Civic Intelligence

Wallace State Community College Future Foundation Inc.

990 • Fiscal year 2017 • EIN 20-1438564

Jul 01, 2016 to Jun 30, 2017 • Filed on Jan 11, 2018

Organization ProfileN/A
801 Main Street NWHanceville, AL 35077

(256) 352-8144

Siviq Scores

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

Liabilities / Assets

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

89th percentile

41%

Higher net margin than 89% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

78th percentile

17%

Faster asset growth than 78% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

93rd percentile

108%

Faster revenue growth than 93% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets14th percentile

Assets

Up

$2,832,725

Up $418,600 (+17%) from 2016

Net Assets

Up

$2,832,725

Up $418,600 (+17%) from 2016

Liabilities

Flat

$0

Flat from 2016

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin89th percentile

Revenue

Up

$741,306

Up $385,674 (+108%) from 2016

Expenses

Up

$437,257

Up $83,354 (+24%) from 2016

Net Income

Up

$304,049

Up $302,320 (+17485%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth78th percentile

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

$10M$5.0M$0Assets 2011: $1,751,604Liabilities 2011: $134Net Assets 2011: $1,751,4702011Assets 2012: $2,034,486Liabilities 2012: $21,938Net Assets 2012: $2,012,5482012Assets 2013: $2,104,827Liabilities 2013: $0Net Assets 2013: $2,104,8272013Assets 2014: $2,228,758Liabilities 2014: $0Net Assets 2014: $2,228,7582014Assets 2015: $2,393,803Liabilities 2015: $1,705Net Assets 2015: $2,392,0982015Assets 2016: $2,414,125Liabilities 2016: $0Net Assets 2016: $2,414,1252016Assets 2017: $2,832,725Liabilities 2017: $0Net Assets 2017: $2,832,7252017Assets 2018: $3,895,453Liabilities 2018: $0Net Assets 2018: $3,895,4532018Assets 2019: $4,374,530Liabilities 2019: $140,700Net Assets 2019: $4,233,8302019Assets 2020: $4,393,519Liabilities 2020: $0Net Assets 2020: $4,393,5192020Assets 2021: $5,796,616Liabilities 2021: $0Net Assets 2021: $5,796,6162021Assets 2022: $6,234,798Liabilities 2022: $4,093Net Assets 2022: $6,230,7052022Assets 2023: $7,458,931Liabilities 2023: $0Net Assets 2023: $7,458,9312023Assets 2024: $8,175,254Liabilities 2024: $0Net Assets 2024: $8,175,2542024

Highlighted filing

2017

Assets$2,832,725
Liabilities$0
Net Assets$2,832,725
Open 2017 Filing

Operations Trend

Revenue Growth93rd percentile

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

$3.0M$2.0M$1.0M$0Revenue 2011: $257,740Expenses 2011: $157,530Net Income 2011: $100,2102011Revenue 2012: $552,167Expenses 2012: $291,089Net Income 2012: $261,0782012Expenses 2013: $267,3062013Revenue 2014: $306,873Expenses 2014: $253,201Net Income 2014: $53,6722014Revenue 2015: $549,875Expenses 2015: $356,534Net Income 2015: $193,3412015Revenue 2016: $355,632Expenses 2016: $353,903Net Income 2016: $1,7292016Revenue 2017: $741,306Expenses 2017: $437,257Net Income 2017: $304,0492017Revenue 2018: $1,503,642Expenses 2018: $458,960Net Income 2018: $1,044,6822018Revenue 2019: $903,269Expenses 2019: $595,384Net Income 2019: $307,8852019Revenue 2020: $1,068,359Expenses 2020: $722,363Net Income 2020: $345,9962020Revenue 2021: $953,473Expenses 2021: $471,478Net Income 2021: $481,9952021Revenue 2022: $2,491,571Expenses 2022: $703,009Net Income 2022: $1,788,5622022Revenue 2023: $1,193,175Expenses 2023: $741,091Net Income 2023: $452,0842023Revenue 2024: $1,119,177Expenses 2024: $789,080Net Income 2024: $330,0972024

Highlighted filing

2017

Revenue$741,306
Expenses$437,257
Net Income$304,049
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Jan 11, 2018
Return Version
2016v3.0
Gross Receipts
$755,992
Mission and Program Overview

Mission

The foundation is a not-for-profit corporation that assists wallace state community college, a public institution of higher education, in fulfilling and performing its educational purposes

To benefit the educational objectives of wallace state community college

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,064,214$1,740,958▲ $676,744
Pledges and Grants Receivable$480,746$535,651▲ $54,905
Cash and Non-Interest-Bearing Accounts$743,023$429,534▼ $313,489
Accounts Receivable$443$883▲ $440
Prepaid Expenses and Deferred Charges$699$699→ $0
Total Assets$2,414,125$2,832,725▲ $418,600
Other Assets Total$125,000$125,000→ $0
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Permanently Rstr Net Assets$1,404,444$1,631,677▲ $227,233
Temporarily Rstr Net Assets$743,689$1,010,670▲ $266,981
Unrestricted Net Assets$265,992$190,378▼ $75,614
Total Net Assets Fund Balance$2,414,125$2,832,725▲ $418,600
Total Liabilities and Net Assets / Fund Balance$2,414,125$2,832,725▲ $418,600

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$1,404,444$227,233--$1,631,677
2015$1,345,216$59,228--$1,404,444
2014$1,161,281$183,935--$1,345,216
2013$1,046,175$2,700▲ $112,406-$1,161,281
2012$1,028,705$17,470--$1,046,175
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Jason SpannPresident
Leah BolinVice President
Billy JacksonBoard Member
Dale GreerBoard Member
Danny KellyBoard Member
Don HubbardBoard Member
Donna GuthrieBoard Member
Jeb WilliamsonBoard Member
John RileyBoard Member
Layne LoweryBoard Member
Lisa WeeksBoard Member
Retha TinneyBoard Member
Scotty HooperBoard Member
Shirley QuattlebaumBoard Member
Tim ComptonBoard Member
Tj FraneyBoard Member
Betty Leeth HaynesEmeritus
Fred CespedesEmeritus
Tomesa SmithEx-officio
Vicki KarolewicsEx-officio
Bill St JohnTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$717,455
Program Service Revenue
$0
Investment Income
$35,811
Other Revenue
$-11,960
All Other Contributions
$571,172
Change in Net Assets
$304,049

Audited Revenue Reconciliation

Revenue per Audited Statements
$741,306
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$126,511
Total Revenue per Audited Statements
$867,817
Total Revenue per Form 990
$741,306
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$269,408
Grants and Similar Amounts Paid$167,849
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$167,849--$167,849
Fees for Services Other-$8,965-$8,965
Other Expenses$23,113$8,585-$8,585
Fees for Services Accounting-$7,900-$7,900
Fees for Service Investment Mgmnt Fees-$6,024-$6,024
All Other Expenses$200$4,665-$4,865
Conferences and Meetings-$1,707-$1,707
Insurance-$1,340-$1,340
Office Expenses-$656-$656
Total Functional Expenses$397,415$39,842$0$437,257

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$449,217
Expenses per Audited Statements$437,257
Total Expenses per Form 990$437,257
Expenses Not Reported on Form 990$11,960
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$11,960
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Foundation/alumni Events$131,534-$11,960-
Total Events$131,534-$11,960$-11,960
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
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 B, Line 11B

“The board and officers provide all supporting documents for preparation of the information return and the board reviews the form 990 prior to filing”

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

“There is no formal process set forth to monitor compliance with this policy. It is expressly known by all directors and officers that conflicts of interest are not allowed.”

Form 990, Part VI, Section C, Line 19

“All governing documents, conflict of interest policy, financial statements and form 990 are available for public inspection at the office of the organization at 801 main street nw, hanceville, al 35077.”

Filing and Contact Details

Filer

Filer Name
Wallace State Community College Future
EIN
20-1438564
Phone
2563528144
Address
801 MAIN STREET NW, HANCEVILLE, AL 35077

Signing Officer

Name
Jason Spann
Title
President
Phone
2563528144
Signed
2018-01-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jason Spann
Formed
2004
Legal Domicile
Al
Voting Board Members
17
Independent Board Members
17
Employees
0
Volunteers
83

Preparer

Firm
Dipiazza Larocca Heeter & Co LLC
Address
P O BOX 530095, BIRMINGHAM, AL 35253-0095
Preparer
Monty S Waites CPA
Phone
2058719973
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

“The organization intends to hold the principal amount of the endowments in perpituity”

PART X, LINE 2:

“The foundation follows the accounting requirements associated with uncertainty in income taxes using the provisions of financial accounting standards board (fasb) asc 740, income taxes. The foundation had no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. Previous open tax years may be subject to examination by taxing authorities.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Fundraising expenses 11,960.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Fundraising expenses 11,960.”

Raw XML AppendixShowing 400 of 549 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt14EMERITUS
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt19PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt20TREASURER
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IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
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IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE FOUNDATION IS A NOT-FOR-PROFIT CORPORATION THAT ASSISTS WALLACE STATE COMMUNITY COLLEGE, A PUBLIC INSTITUTION OF HIGHER EDUCATION, IN FULFILLING AND PERFORMING ITS EDUCATIONAL PURPOSES
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/NetAssetsOrFundBalancesEOYAmt02832725
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IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt0-11960
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt0-11960
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0114551
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0656
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IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherExpensesGrp/Desc0ALUMNI EXPENSE
IRS990/OtherExpensesGrp/Desc1AWARDS/COMMUNITY RELATI
IRS990/OtherExpensesGrp/Desc2STUDENT INVESTMENT LUNC
IRS990/OtherExpensesGrp/Desc3FOUNDATION EXPENSES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt08585
IRS990/OtherExpensesGrp/ProgramServicesAmt0133654
IRS990/OtherExpensesGrp/ProgramServicesAmt172599
IRS990/OtherExpensesGrp/ProgramServicesAmt223113
IRS990/OtherExpensesGrp/TotalAmt0133654
IRS990/OtherExpensesGrp/TotalAmt172599
IRS990/OtherExpensesGrp/TotalAmt223113
IRS990/OtherExpensesGrp/TotalAmt38585
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt01404444
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IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0699
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IRS990/PrincipalOfficerNm0JASON SPANN
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0386932
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0191824
IRS990/PYInvestmentIncomeAmt0-24154
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IRS990/PYRevenuesLessExpensesAmt01729
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IRS990/PYTotalProfFndrsngExpnsAmt00
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IRS990/QuidProQuoContributionsInd01
IRS990/QuidProQuoContriDisclInd01
IRS990/ReconcilationRevenueExpnssAmt0304049
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01064214
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01740958
IRS990ScheduleA/CollegeOrganizationInd0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0717455
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0396932
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0498957
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0288241
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0386398
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt032371
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt036996
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IRS990ScheduleA/PublicSupportTotal170Amt02287983
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02287983
IRS990ScheduleA/TotalSupportAmt02417105
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt01345216
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt01046175
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt02700
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt01161281
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0112406
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt01028705
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt017470
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt01046175
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
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IRS990ScheduleD/ExpensesNotReportedAmt011960
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/OtherExpensesIncludedAmt011960
IRS990ScheduleD/OtherRevenueAmt011960
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0741306
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION INTENDS TO HOLD THE PRINCIPAL AMOUNT OF THE ENDOWMENTS IN PERPITUITY
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION FOLLOWS THE ACCOUNTING REQUIREMENTS ASSOCIATED WITH UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ASC 740, INCOME TAXES. THE FOUNDATION HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PREVIOUS OPEN TAX YEARS MAY BE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES.

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,832,725
Liabilities
$0
Net assets
$2,832,725
Revenue
$741,306
Expenses
$437,257
Net income
$304,049
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.18$0.00$8.18$1.12$0.79$0.33
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.46$0.00$7.46$1.19$0.74$0.45
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.23$0.00$6.23$2.49$0.70$1.79
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.80$0.00$5.80$0.95$0.47$0.48
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.39$0.00$4.39$1.07$0.72$0.35
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.37$0.14$4.23$0.90$0.60$0.31
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.90$0.00$3.90$1.50$0.46$1.04
2017Detailed filing. Detailed filing data is available for this year.$2.83$0.00$2.83$0.74$0.44$0.30
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.41$0.00$2.41$0.36$0.35$0.00
2015Detailed filing. Detailed filing data is available for this year.$2.39$0.00$2.39$0.55$0.36$0.19
2014Detailed filing. Detailed filing data is available for this year.$2.23$0.00$2.23$0.31$0.25$0.05
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.10$0.00$2.10$0.27
2012Summary only. Only limited summary data is available for this year.$2.03$0.02$2.01$0.55$0.29$0.26
2011Summary only. Only limited summary data is available for this year.$1.75$0.00$1.75$0.26$0.16$0.10