Civic Intelligence

Quinebaug Valley Community College Foundation Inc.

990 • Fiscal year 2020 • EIN 23-7137794

Jul 01, 2019 to Jun 30, 2020 • Filed on Sep 16, 2020

Organization ProfileQVCC.COMMNET.EDU/FOUNDATION
742 Upper Maple StreetDanielson, CT 06239-1436

(860) 932-4174

Siviq Scores

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

Liabilities / Assets

34th percentile

0.06x

Higher debt load relative to assets than 34% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

78th percentile

0.79x

Higher debt load relative to revenue than 78% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

17th percentile

-14%

Higher net margin than 17% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

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

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

43rd percentile

3.7%

Faster asset growth than 43% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

7th percentile

-52%

Faster revenue growth than 7% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets34th percentile

Assets

Up

$5,139,448

Up $185,295 (+3.7%) from 2019

Net Assets

Down

$4,829,705

Down $117,582 (-2.4%) from 2019

Liabilities

Up

$309,743

Up $302,877 (+4411%) from 2019

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin17th percentile

Revenue

Down

$392,660

Down $419,888 (-52%) from 2019

Expenses

Up

$448,603

Up $83,611 (+23%) from 2019

Net Income

Down

-$55,943

Down $503,499 (-112%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

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

2020

Assets$5,139,448
Liabilities$309,743
Net Assets$4,829,705
Open 2020 Filing

Operations Trend

Revenue Growth7th percentile

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

2020

Revenue$392,660
Expenses$448,603
Net Income-$55,943
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Sep 16, 2020
Return Version
2019v5.0
Gross Receipts
$433,246
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$4,790,694$4,737,970▼ $52,724
Savings and Temporary Cash Investments$113,712$352,751▲ $239,039
Pledges and Grants Receivable$37,493$38,232▲ $739
Accounts Receivable$8,995$7,300▼ $1,695
Prepaid Expenses and Deferred Charges$3,259$3,195▼ $64
Total Assets$4,954,153$5,139,448▲ $185,295
Liabilities
Accounts Payable and Accrued Expenses$6,866$309,743▲ $302,877
Total Liabilities$6,866$309,743▲ $302,877
Net Assets / Fund Balance
Net Assets With Donor Restrictions$4,694,551$4,686,079▼ $8,472
Net Assets Without Donor Restrictions$252,736$143,626▼ $109,110
Total Net Assets Fund Balance$4,947,287$4,829,705▼ $117,582
Total Liabilities and Net Assets / Fund Balance$4,954,153$5,139,448▲ $185,295

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$4,694,552$136,775▲ $19,830-$4,686,101
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
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Peter DearyPresident
Amanda MillerDirector
Anne Dubay DauphinaisDirector
Christian SarantopoulosDirector
Diana RoseDirector
Eddie GraffDirector
Gail Rooke-normanDirector
James TurnerDirector
Jeff PaulDirector
Jeffrey RawsonDirector
Jim ZahanskyDirector
Joan DashDirector
Karen OsbreyDirector
Katalin BornerDirector
Kevin ColeDirector
Mae FlexerDirector
Marc ArchambaultDirector
Marc ScrivenerDirector
Mark LightDirector
Mary Jane BurkeDirector
Matt DesaulnierDirector
Monique WolaninDirector
Pam BrownDirector
Rocky WagnerDirector
Rusty HainesDirector
Susan HarrodDirector
Thomas HarneyDirector
Joseph Adiletta1st Vice Pre
Dr Rose EllisInterim CEO
Lynne ComtoisSecretary
Joseph MarkleyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$197,679
Program Service Revenue
$0
Investment Income
$121,300
Other Revenue
$73,681
All Other Contributions
$195,679
Change in Net Assets
$-55,943

Audited Revenue Reconciliation

Revenue per Audited Statements
$356,671
Revenue Not Reported on Financial Statements
$35,989
Revenue Not Reported on Form 990
$-21,054
Total Revenue per Audited Statements
$335,617
Total Revenue per Form 990
$392,660
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$302,512
Other Expenses$82,530
Salaries, Compensation, and Employee Benefits$63,561
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$302,512--$302,512
Other Salaries and Wages$53,180--$53,180
Fees for Service Investment Mgmnt Fees$35,990--$35,990
Office Expenses$20,585--$20,585
Fees for Services Accounting$14,100--$14,100
Other Employee Benefits$5,808--$5,808
Payroll Taxes$4,573--$4,573
Travel$3,307--$3,307
Advertising$3,278--$3,278
Insurance$3,188--$3,188
Information Technology$2,006--$2,006
Interest$76--$76
Total Functional Expenses$448,603$0$0$448,603

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$453,199
Total Expenses per Form 990$448,603
Expenses per Audited Statements$412,614
Expenses Not Reported on Form 990$40,585
Expenses Not Reported on Financial Statements$35,989
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Quinebaug Valley Community CollegeDanielson, CT3Scholarships & Aid$302,512
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$114,267
Fundraising Direct Expenses$40,586
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournment$57,286$57,286$12,930$44,356
Tackle the Trai$55,841$55,841$26,786$29,055
Total Events$113,127$113,127$39,716$73,411
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 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
Yes
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 15A

“All compensation is part of the budget that is reviewed and approved by the board.”

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
8609324174
Address
742 UPPER MAPLE STREET, DANIELSON, CT 06239-1436

Signing Officer

Name
Peter Deary
Title
President
Phone
8609324174
Signed
2020-09-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Peter Deary
Formed
1971
Legal Domicile
Ct
Voting Board Members
29
Independent Board Members
29
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 40,585 fundraising expenses -40,585”

Financial Statement Notes

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

“Fundraising expenses 40,585”

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

“Fundraising expenses 40,585”

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IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,139,448
Liabilities
$309,743
Net assets
$4,829,705
Revenue
$392,660
Expenses
$448,603
Net income
-$55,943
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