Civic Intelligence

Quinebaug Valley Community College Foundation Inc.

990 • Fiscal year 2022 • EIN 23-7137794

Jul 01, 2021 to Jun 30, 2022 • Filed on Sep 13, 2022

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

35th percentile

0.05x

Higher debt load relative to assets than 35% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

75th percentile

0.53x

Higher debt load relative to revenue than 75% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

68th percentile

18%

Higher net margin than 68% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

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.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

11th percentile

-15%

Faster asset growth than 11% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

74th percentile

26%

Faster revenue growth than 74% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets35th percentile

Assets

Down

$5,166,321

Down $935,747 (-15%) from 2021

Net Assets

Down

$4,910,278

Down $900,675 (-15%) from 2021

Liabilities

Down

$256,043

Down $35,072 (-12%) from 2021

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin68th percentile

Revenue

Up

$480,780

Up $97,978 (+26%) from 2021

Expenses

Up

$395,475

Up $1,414 (+0.4%) from 2021

Net Income

Up

$85,305

Up $96,564 (+858%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth11th 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

2022

Assets$5,166,321
Liabilities$256,043
Net Assets$4,910,278
Open 2022 Filing

Operations Trend

Revenue Growth74th 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

2022

Revenue$480,780
Expenses$395,475
Net Income$85,305
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Sep 13, 2022
Return Version
2021v4.0
Gross Receipts
$527,640
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$5,751,459$4,803,560▼ $947,899
Savings and Temporary Cash Investments$306,611$319,610▲ $12,999
Pledges and Grants Receivable$38,796$39,368▲ $572
Prepaid Expenses and Deferred Charges$4,952$3,783▼ $1,169
Accounts Receivable$250--
Total Assets$6,102,068$5,166,321▼ $935,747
Liabilities
Accounts Payable and Accrued Expenses$251,665$240,843▼ $10,822
Grants Payable$39,450$15,200▼ $24,250
Total Liabilities$291,115$256,043▼ $35,072
Net Assets / Fund Balance
Net Assets With Donor Restrictions$5,707,085$4,773,475▼ $933,610
Net Assets Without Donor Restrictions$103,868$136,803▲ $32,935
Total Net Assets Fund Balance$5,810,953$4,910,278▼ $900,675
Total Liabilities and Net Assets / Fund Balance$6,102,068$5,166,321▼ $935,747

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$5,707,106$158,841▼ $807,945-$4,773,475
2020$4,686,101$140,403▲ $1,087,691-$5,707,106
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
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Joseph AdilettaPresident
Amanda MillerDirector
Anne Dubay DauphinaisDirector
Celicia Boyden HardyDirector
Christian SarantopoulosDirector
Devon HarrisDirector
Dr Karen HynickDirector
Eddie GraffDirector
Gail Rooke-normanDirector
Jeff PaulDirector
Jeffrey RawsonDirector
Jim ZahanskyDirector
John XellerDirector
Karen OsbreyDirector
Katalin BornerDirector
Lynne ComtoisDirector
Mae FlexerDirector
Marc ArchambaultDirector
Mark LightDirector
Mary Jane BurkeDirector
Monique WolaninDirector
Pam BrownDirector
Peter DearyDirector
Rocky WagnerDirector
Rusty HainesDirector
Thomas HarneyDirector
Trevor CardinalDirector
Diana RoseSecretary
Matt DesaulnierTreasurer
Joseph MarkleyVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$222,252
Program Service Revenue
$0
Investment Income
$168,110
Other Revenue
$90,418
All Other Contributions
$222,252
Change in Net Assets
$85,305

Audited Revenue Reconciliation

Revenue per Audited Statements
$437,039
Revenue Not Reported on Financial Statements
$43,741
Revenue Not Reported on Form 990
$-939,120
Total Revenue per Audited Statements
$-502,081
Total Revenue per Form 990
$480,780
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$227,670
Other Expenses$99,781
Salaries, Compensation, and Employee Benefits$68,024
Total Fundraising Expense$15,412
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$227,670--$227,670
Other Salaries and Wages$61,358--$61,358
Fees for Service Investment Mgmnt Fees$43,741--$43,741
Office Expenses$5,381-$15,412$20,793
Fees for Services Accounting$15,000--$15,000
Advertising$8,426--$8,426
Payroll Taxes$5,299--$5,299
Travel$3,462--$3,462
Insurance$3,450--$3,450
Other Expenses$2,737--$2,737
Information Technology$2,172--$2,172
Other Employee Benefits$1,367--$1,367
Total Functional Expenses$380,063$0$15,412$395,475

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$398,594
Total Expenses per Form 990$395,475
Expenses per Audited Statements$351,734
Expenses Not Reported on Form 990$46,860
Expenses Not Reported on Financial Statements$43,741
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Quinebaug Valley Community CollegeDanielson, CT3Scholarships & Aid$227,670
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$137,278
Fundraising Direct Expenses$46,860
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Tackle the Trai$72,926$72,926$26,762$46,164
Golf Tournment$61,027$61,027$17,010$44,017
Total Events$133,953$133,953$43,772$90,181
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
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
Monique Wolanin
Title
Director
Phone
8609324174
Signed
2022-09-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph Adiletta
Formed
1971
Legal Domicile
Ct
Voting Board Members
30
Independent Board Members
30
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 46,860 fundraising expenses -46,860”

Financial Statement Notes

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

“Fundraising expenses 46,860”

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

“Fundraising expenses 46,860”

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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,166,321
Liabilities
$256,043
Net assets
$4,910,278
Revenue
$480,780
Expenses
$395,475
Net income
$85,305
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