Civic Intelligence

Quinebaug Valley Community College Foundation Inc.

990 • Fiscal year 2019 • EIN 23-7137794

Jul 01, 2018 to Jun 30, 2019 • Filed on Sep 05, 2019

742 Upper Maple StreetDanielson, CT 06239-1436

(860) 412-7328

Siviq Scores

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

Liabilities / Assets

19th percentile

0.00x

Higher debt load relative to assets than 19% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

23rd percentile

0.01x

Higher debt load relative to revenue than 23% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

93rd percentile

55%

Higher net margin than 93% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

76th percentile

17%

Faster asset growth than 76% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

92nd percentile

87%

Faster revenue growth than 92% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Up

$4,954,153

Up $705,128 (+17%) from 2018

Net Assets

Up

$4,947,287

Up $704,432 (+17%) from 2018

Liabilities

Up

$6,866

Up $696 (+11%) from 2018

Revenue

Up

$812,548

Up $378,066 (+87%) from 2018

Expenses

Up

$364,992

Up $56,348 (+18%) from 2018

Net Income

Up

$447,556

Up $321,718 (+256%) from 2018

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $2,627,065Liabilities 2011: $8,488Net Assets 2011: $2,618,5772011Assets 2012: $2,691,535Liabilities 2012: $16,378Net Assets 2012: $2,675,1572012Assets 2013: $3,077,909Liabilities 2013: $134,046Net Assets 2013: $2,943,8632013Assets 2014: $3,540,668Liabilities 2014: $137,722Net Assets 2014: $3,402,9462014Assets 2015: $3,707,714Liabilities 2015: $151,227Net Assets 2015: $3,556,4872015Assets 2016: $3,646,185Liabilities 2016: $11,195Net Assets 2016: $3,634,9902016Assets 2017: $3,952,496Liabilities 2017: $9,240Net Assets 2017: $3,943,2562017Assets 2018: $4,249,025Liabilities 2018: $6,170Net Assets 2018: $4,242,8552018Assets 2019: $4,954,153Liabilities 2019: $6,866Net Assets 2019: $4,947,2872019Assets 2020: $5,139,448Liabilities 2020: $309,743Net Assets 2020: $4,829,7052020Assets 2021: $6,102,068Liabilities 2021: $291,115Net Assets 2021: $5,810,9532021Assets 2022: $5,166,321Liabilities 2022: $256,043Net Assets 2022: $4,910,2782022Assets 2023: $5,773,861Liabilities 2023: $24,086Net Assets 2023: $5,749,7752023Assets 2024: $6,544,369Liabilities 2024: $270,455Net Assets 2024: $6,273,9142024Assets 2025: $283,987Liabilities 2025: $1,250Net Assets 2025: $282,7372025

Highlighted filing

2019

Assets$4,954,153
Liabilities$6,866
Net Assets$4,947,287

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2011: $196,5682011Expenses 2012: $209,4062012Expenses 2013: $204,8262013Revenue 2014: $480,783Expenses 2014: $234,813Net Income 2014: $245,9702014Revenue 2015: $414,492Expenses 2015: $274,753Net Income 2015: $139,7392015Revenue 2016: $430,970Expenses 2016: $301,364Net Income 2016: $129,6062016Revenue 2017: $416,473Expenses 2017: $295,121Net Income 2017: $121,3522017Revenue 2018: $434,482Expenses 2018: $308,644Net Income 2018: $125,8382018Revenue 2019: $812,548Expenses 2019: $364,992Net Income 2019: $447,5562019Revenue 2020: $392,660Expenses 2020: $448,603Net Income 2020: -$55,9432020Revenue 2021: $382,802Expenses 2021: $394,061Net Income 2021: -$11,2592021Revenue 2022: $480,780Expenses 2022: $395,475Net Income 2022: $85,3052022Revenue 2023: $482,892Expenses 2023: $326,352Net Income 2023: $156,5402023Revenue 2024: $867,101Expenses 2024: $579,651Net Income 2024: $287,4502024Revenue 2025: $430,344Expenses 2025: $119,339Net Income 2025: $311,0052025

Highlighted filing

2019

Revenue$812,548
Expenses$364,992
Net Income$447,556
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Sep 5, 2019
Return Version
2018v3.1
Gross Receipts
$868,095
Mission and Program Overview

Mission

To raise funds so that all residents of northeastern connecticut are provided the opportunity to attend quinebaug valley community college regardless of income, and to support educational excellence, technological advancement, and professional development at the college and to serve as the regional advisory council to the college.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,961,633$4,790,694▲ $829,061
Savings and Temporary Cash Investments$239,762$113,712▼ $126,050
Pledges and Grants Receivable$36,759$37,493▲ $734
Accounts Receivable$6,500$8,995▲ $2,495
Prepaid Expenses and Deferred Charges$4,371$3,259▼ $1,112
Total Assets$4,249,025$4,954,153▲ $705,128
Liabilities
Accounts Payable and Accrued Expenses$6,170$6,866▲ $696
Total Liabilities$6,170$6,866▲ $696
Net Assets / Fund Balance
Permanently Rstr Net Assets$3,246,122$3,761,863▲ $515,741
Temporarily Rstr Net Assets$707,281$932,688▲ $225,407
Unrestricted Net Assets$289,452$252,736▼ $36,716
Total Net Assets Fund Balance$4,242,855$4,947,287▲ $704,432
Total Liabilities and Net Assets / Fund Balance$4,249,025$4,954,153▲ $705,128

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$3,953,366$558,847▲ $336,030-$4,694,573
2017$3,675,866$177,015▲ $248,426-$3,953,366
2016$3,369,350$198,715▲ $231,236-$3,675,866
2015$3,292,574$169,628▲ $39,922-$3,369,350
2014$3,160,425$169,094▲ $76,125-$3,292,574
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$621,329
Program Service Revenue
$0
Investment Income
$116,533
Other Revenue
$74,686
All Other Contributions
$621,329
Change in Net Assets
$447,556

Audited Revenue Reconciliation

Revenue per Audited Statements
$781,278
Revenue Not Reported on Financial Statements
$31,270
Revenue Not Reported on Form 990
$312,423
Total Revenue per Audited Statements
$1,093,701
Total Revenue per Form 990
$812,548
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$225,690
Other Expenses$77,940
Salaries, Compensation, and Employee Benefits$61,362
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$225,690--$225,690
Other Salaries and Wages$51,720--$51,720
Fees for Service Investment Mgmnt Fees$31,270--$31,270
Office Expenses$19,408--$19,408
Fees for Services Accounting$14,100--$14,100
Other Employee Benefits$5,038--$5,038
Payroll Taxes$4,604--$4,604
Advertising$4,017--$4,017
Travel$3,917--$3,917
Insurance$3,326--$3,326
Information Technology$1,902--$1,902
Total Functional Expenses$364,992$0$0$364,992

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$389,269
Total Expenses per Form 990$364,992
Expenses per Audited Statements$333,722
Expenses Not Reported on Form 990$55,547
Expenses Not Reported on Financial Statements$31,270
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Quinebaug Valley Community CollegeDanielson, CT3Scholarships & Aid$225,690
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$130,233
Fundraising Direct Expenses$55,547
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournment$65,329$65,329$16,163$49,166
Tackle the Trai$49,543$49,543$25,066$24,477
Total Events$130,233$130,233$55,547$74,686
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
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
Yes
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, Page 6, Part VI, Line 11B

A copy of the 990 was emailed to board members for review.

Form 990, Page 6, Part VI, Line 12C

Requires the directors to annually complete the questionaire and all conflicts are investigated.

Form 990, Page 6, Part VI, Line 15B

Salaries are approved by board in the budget.

Form 990, Page 6, Part VI, Line 19

The governing documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Qvcc Foundation Inc
EIN
23-7137794
Phone
8604127328
Address
742 UPPER MAPLE STREET, DANIELSON, CT 06239-1436

Signing Officer

Name
Christian Sarantopoulos
Title
Treasurer
Phone
8604127328
Signed
2019-09-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christian Sarantopoulos
Formed
1971
Legal Domicile
Ct
Voting Board Members
16
Independent Board Members
16
Employees
2
Volunteers
100

Preparer

Firm
SHANE NAVRATIL & CO CPA'S
Address
20 WALNUT ST, WILLIMANTIC, CT 06226
Preparer
Michael Rubin
Phone
8604562297
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To raise funds so that all residents of northeastern connecticut are provided the opportunity to attend quinebaug valley community college regardless of income, and to support educational excellence, technological advancement, and professional development at the college and to serve as the regional advisory council to the college.

Form 990, Page 1, Part I, Line 6

All members of the board are volunteers, volunteers also assist with fundraising events.

Form 990, Part XI, Line 9

Fundraising expenses 55,547 fundraising expenses -55,547

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

Fundraising expenses 55,547

Schedule D, Page 4, Part XII, Line 2D

Fundraising expenses 55,547

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IRS990/InsuranceGrp/ProgramServicesAmt03326
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IRS990/MissionDesc0TO RAISE FUNDS SO THAT ALL RESIDENTS OF NORTHEASTERN CONNECTICUT ARE PROVIDED THE OPPORTUNITY TO ATTEND QUINEBAUG VALLEY COMMUNITY COLLEGE REGARDLESS OF INCOME, AND TO SUPPORT EDUCATIONAL EXCELLENCE, TECHNOLOGICAL ADVANCEMENT, AND PROFESSIONAL DEVELOPMENT AT THE COLLEGE AND TO SERVE AS THE REGIONAL ADVISORY COUNCIL TO THE COLLEGE.
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IRS990/OfficeExpensesGrp/ProgramServicesAmt019408
IRS990/OfficeExpensesGrp/TotalAmt019408
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IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt05038
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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt051720
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IRS990/PayrollTaxesGrp/ProgramServicesAmt04604
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IRS990/PrincipalOfficerNm0CHRISTIAN SARANTOPOULOS
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0278258
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01682946
IRS990ScheduleA/TotalSupportAmt02072820
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
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IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0153670
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IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0198715
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt03675866
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IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt0169628
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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt0113070
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IRS990ScheduleD/ExpensesNotReportedAmt055547
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt031270
IRS990ScheduleD/ExpensesSubtotalAmt0333722
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt031270
IRS990ScheduleD/InvestmentExpensesNotIncldAmt031270
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IRS990ScheduleD/OtherRevenueAmt055547
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IRS990ScheduleD/RevenueNotReportedAmt0312423
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt031270
IRS990ScheduleD/RevenueSubtotalAmt0781278
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FUNDRAISING EXPENSES 55,547
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FUNDRAISING EXPENSES 55,547
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleD/TotalRevenuePerForm990Amt0812548
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01093701
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0389269
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt055547
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0GOLF TOURNMENT
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0TACKLE THE TRAI
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt049543
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt015361
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt065329
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt049543
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt015361
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0130233
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt074686
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt014318
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt055547
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt016163
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt025066
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt02
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt0225690
IRS990ScheduleI/RecipientTable/IRCSectionDesc03
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0SCHOLARSHIPS & AID
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0QUINEBAUG VALLEY COMMUNITY COLLEGE
IRS990ScheduleI/RecipientTable/RecipientEIN0061359687
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0742 UPPER MAPLE ST

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.28$0.00$0.28$0.43$0.12$0.31
2024Detailed filing. Detailed filing data is available for this year.$6.54$0.27$6.27$0.87$0.58$0.29
2023Detailed filing. Detailed filing data is available for this year.$5.77$0.02$5.75$0.48$0.33$0.16
2022Detailed filing. Detailed filing data is available for this year.$5.17$0.26$4.91$0.48$0.40$0.09
2021Detailed filing. Detailed filing data is available for this year.$6.10$0.29$5.81$0.38$0.39$0.01
2020Detailed filing. Detailed filing data is available for this year.$5.14$0.31$4.83$0.39$0.45$0.06
2019Detailed filing. Detailed filing data is available for this year.$4.95$0.01$4.95$0.81$0.36$0.45
2018Detailed filing. Detailed filing data is available for this year.$4.25$0.01$4.24$0.43$0.31$0.13
2017Detailed filing. Detailed filing data is available for this year.$3.95$0.01$3.94$0.42$0.30$0.12
2016Detailed filing. Detailed filing data is available for this year.$3.65$0.01$3.63$0.43$0.30$0.13
2015Detailed filing. Detailed filing data is available for this year.$3.71$0.15$3.56$0.41$0.27$0.14
2014Detailed filing. Detailed filing data is available for this year.$3.54$0.14$3.40$0.48$0.23$0.25
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.08$0.13$2.94$0.20
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.69$0.02$2.68$0.21
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.63$0.01$2.62$0.20