Civic Intelligence

Mhc Academic Foundation

990 • Fiscal year 2021 • EIN 20-8407010

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

Organization Profilencfmhc.org
PO Box 492Martinsville, VA 24114

(276) 403-4445

Siviq Scores

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

Liabilities / Assets

6th percentile

0.00x

Higher debt load relative to assets than 6% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2021

Net Margin

100th percentile

124%

Higher net margin than 100% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

17th percentile

$58,421

Higher top officer pay than 17% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

2nd percentile

-27%

Faster asset growth than 2% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets6th percentile

Assets

Down

$13,547,909

Down $4,976,282 (-27%) from 2020

Net Assets

Down

$13,544,498

Down $4,897,627 (-27%) from 2020

Liabilities

Down

$3,411

Down $78,655 (-96%) from 2020

Revenue And Expenses
Liabilities / RevenueScore unavailableNet Margin100th percentile

Revenue

Down

-$5,080,920

Down $5,749,191 (-860%) from 2020

Expenses

Down

$1,222,019

Down $75,063 (-5.8%) from 2020

Net Income

Down

-$6,302,939

Down $5,674,128 (-902%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

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

$30M$20M$10M$0Assets 2011: $2,331,363Liabilities 2011: $86,299Net Assets 2011: $2,245,0642011Assets 2012: $2,558,130Liabilities 2012: $2,166Net Assets 2012: $2,555,9642012Assets 2013: $14,870,657Liabilities 2013: $736,223Net Assets 2013: $14,134,4342013Assets 2014: $22,978,040Liabilities 2014: $1,350,525Net Assets 2014: $21,627,5152014Assets 2015: $22,383,895Liabilities 2015: $787,871Net Assets 2015: $21,596,0242015Assets 2016: $21,729,046Liabilities 2016: $800,137Net Assets 2016: $20,928,9092016Assets 2017: $21,126,098Liabilities 2017: $604,433Net Assets 2017: $20,521,6652017Assets 2018: $19,887,328Liabilities 2018: $18,993Net Assets 2018: $19,868,3352018Assets 2019: $19,344,867Liabilities 2019: $36,583Net Assets 2019: $19,308,2842019Assets 2020: $18,524,191Liabilities 2020: $82,066Net Assets 2020: $18,442,1252020Assets 2021: $13,547,909Liabilities 2021: $3,411Net Assets 2021: $13,544,4982021Assets 2022: $12,178,988Liabilities 2022: $6,309Net Assets 2022: $12,172,6792022Assets 2023: $13,028,839Liabilities 2023: $43,506Net Assets 2023: $12,985,3332023Assets 2024: $14,498,458Liabilities 2024: $7,154Net Assets 2024: $14,491,3042024Assets 2025: $16,118,675Liabilities 2025: $2,061Net Assets 2025: $16,116,6142025

Highlighted filing

2021

Assets$13,547,909
Liabilities$3,411
Net Assets$13,544,498
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$10M$5.0M$0-$5.0M-$10MExpenses 2011: $1,119,8022011Expenses 2012: $1,353,9062012Expenses 2013: $2,193,1882013Revenue 2014: $9,350,154Expenses 2014: $1,978,026Net Income 2014: $7,372,1282014Revenue 2015: $3,444,931Expenses 2015: $3,507,428Net Income 2015: -$62,4972015Revenue 2016: $2,109,957Expenses 2016: $2,801,837Net Income 2016: -$691,8802016Revenue 2017: $1,748,611Expenses 2017: $2,344,386Net Income 2017: -$595,7752017Revenue 2018: $844,189Expenses 2018: $1,615,178Net Income 2018: -$770,9892018Revenue 2019: $713,871Expenses 2019: $1,416,855Net Income 2019: -$702,9842019Revenue 2020: $668,271Expenses 2020: $1,297,082Net Income 2020: -$628,8112020Revenue 2021: -$5,080,920Expenses 2021: $1,222,019Net Income 2021: -$6,302,9392021Revenue 2022: $1,115,149Expenses 2022: $483,835Net Income 2022: $631,3142022Revenue 2023: $669,738Expenses 2023: $320,979Net Income 2023: $348,7592023Revenue 2024: $763,302Expenses 2024: $283,883Net Income 2024: $479,4192024Revenue 2025: $1,196,414Expenses 2025: $295,020Net Income 2025: $901,3942025

Highlighted filing

2021

Revenue-$5,080,920
Expenses$1,222,019
Net Income-$6,302,939
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Sep 30, 2021
Return Version
2020v4.0
Gross Receipts
$10,176,006
Mission and Program Overview

Mission

To provide financial and other support to new college institute, a virginia public body constituted by statute as a governmental instrumentality for the dissemination of education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,294,456$13,231,645▲ $9,937,189
Cash and Non-Interest-Bearing Accounts$1,038,234$240,884▼ $797,350
Pledges and Grants Receivable-$72,500-
Accounts Receivable$4,916$0▼ $4,916
Land, Buildings, and Equipment, Net$14,166,715$1,310▼ $14,165,405
Prepaid Expenses and Deferred Charges$18,774$474▼ $18,300
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$18,524,191$13,547,909▼ $4,976,282
Other Assets Total$1,096$1,096→ $0
Liabilities
Other Liabilities$7,555--
Deferred Revenue$6,482--
Accounts Payable and Accrued Expenses$68,029$3,411▼ $64,618
Total Liabilities$82,066$3,411▼ $78,655
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$16,878,713$11,744,459▼ $5,134,254
Net Assets With Donor Restrictions$1,563,412$1,800,039▲ $236,627
Total Net Assets Fund Balance$18,442,125$13,544,498▼ $4,897,627
Total Liabilities and Net Assets / Fund Balance$18,524,191$13,547,909▼ $4,976,282

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,310$3,890$5,200

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$831,588$6,500▲ $278,772-$1,089,860
2019$1,490,281$5,000▼ $241,342$405,351$831,588
2018$1,388,302$8,250▲ $138,229-$1,490,281
2017$1,253,198$60,881▲ $117,723-$1,388,302
2016$1,097,976$9,748▲ $160,771-$1,253,198
Compensation and Service Providers
Top Officer Pay17th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kevin DekoninckExecutive DirectorFT$58,421$58,421

Board Members and Trustees

NameTitle
Simone ReddChairwoman
Patrice NewnamPast Chair
Dr James RoundtreeVice Chair
Jodi JonesTrustee
Schnika HodgeTrustee
Darrell JonesSecretary
Beth DeatherageTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$150,454
Program Service Revenue
$0
Investment Income
$-5,387,759
Other Revenue
$156,385
All Other Contributions
$112,954
Change in Net Assets
$-6,302,939

Audited Revenue Reconciliation

Revenue per Audited Statements
$-5,080,920
Revenue Not Reported on Form 990
$6,843,809
Total Revenue per Audited Statements
$1,762,889
Total Revenue per Form 990
$-5,080,920
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$756,764
Other Expenses$359,395
Salaries, Compensation, and Employee Benefits$105,860
Total Fundraising Expense$5,293
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$713,764--$713,764
Depreciation Depletion$142,528$1,440-$143,968
Current Officers, Directors, Trustees, and Key Employees$19,500$42,250$3,250$65,000
Fees for Services Accounting$12,900$30,100-$43,000
Grants to Domestic Individuals$43,000--$43,000
Other Salaries and Wages$8,040$17,419$1,340$26,799
Insurance$10,599$10,599-$21,198
Occupancy$4,318$12,955-$17,273
Office Expenses$2,187$8,747-$10,934
Payroll Taxes$2,246$4,865$374$7,485
All Other Expenses$522$3,645-$4,167
Other Employee Benefits$1,140$2,470$190$3,800
Other Expenses$3,101$163-$3,264
Pension Plan Contributions$833$1,804$139$2,776
Advertising$535--$535
Travel-$47-$47
Total Functional Expenses$1,078,959$137,767$5,293$1,222,019

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,222,019
Total Expenses per Audited Statements$1,222,019
Total Expenses per Form 990$1,222,019
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
New College InstituteMartinsville, VACommonwealth of VaDevelop Additional Programs$37,501
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Deborah KauffmanFormer EdConsulting ServicesNo$966

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
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, Line 11B: Form 990 Review Process

“Reviewed internally by staff. Then reviewed by Audit Committee and presented to the Board for review.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Review of salaries for similar positions and educational levels are approved by the board.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“Officers do not receive compensation. No employees earn more than $100,000.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
New College Foundation
EIN
20-8407010
Phone
2764034445
Address
PO BOX 492, MARTINSVILLE, VA 24114

Signing Officer

Name
Kevin Dekoninck
Title
Executive Director
Signed
2021-09-30
Discuss with paid preparer
Yes

Organization Details

Formed
2006
Legal Domicile
Va
Voting Board Members
7
Independent Board Members
7
Employees
8

Preparer

Firm
Foti Flynn Lowen & Co PC
Address
PO Box 12765, Roanoke, VA 24028
Preparer
Bradley J Davis CPA
Phone
5403449246
Supplemental Narrative

Financial Statement Notes

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

“Realized loss c/y (p/y impairment loss) $5438497”

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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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$13,547,909
Liabilities
$3,411
Net assets
$13,544,498
Revenue
-$5,080,920
Expenses
$1,222,019
Net income
-$6,302,939
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$16.1$0.00$16.1$1.20$0.30$0.90
2024Detailed filing. Detailed filing data is available for this year.$14.5$0.01$14.5$0.76$0.28$0.48
2023Detailed filing. Detailed filing data is available for this year.$13.0$0.04$13.0$0.67$0.32$0.35
2022Detailed filing. Detailed filing data is available for this year.$12.2$0.01$12.2$1.12$0.48$0.63
2021Detailed filing. Detailed filing data is available for this year.$13.5$0.00$13.5$5.08$1.22$6.30
2020Detailed filing. Detailed filing data is available for this year.$18.5$0.08$18.4$0.67$1.30$0.63
2019Detailed filing. Detailed filing data is available for this year.$19.3$0.04$19.3$0.71$1.42$0.70
2018Detailed filing. Detailed filing data is available for this year.$19.9$0.02$19.9$0.84$1.62$0.77
2017Detailed filing. Detailed filing data is available for this year.$21.1$0.60$20.5$1.75$2.34$0.60
2016Detailed filing. Detailed filing data is available for this year.$21.7$0.80$20.9$2.11$2.80$0.69
2015Detailed filing. Detailed filing data is available for this year.$22.4$0.79$21.6$3.44$3.51$0.06
2014Detailed filing. Detailed filing data is available for this year.$23.0$1.35$21.6$9.35$1.98$7.37
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.9$0.74$14.1$2.19
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.56$0.00$2.56$1.35
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.33$0.09$2.25$1.12
Peer Organizations

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