Civic Intelligence

Southwestern Community College Foundation

EIN 23-7322352 • 501(c)3 • Sylva, NC

Profile

The Foundation, through its initiatives, partners with Southwestern Community College

447 College DriveSylva, NC 28779

www.southwesterncc.edu

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

9th percentile

0.00x

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

NTEE B • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

9th percentile

0.00x

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

NTEE B • $5M-$10M nonprofits • Source year 2024

Net Margin

93rd percentile

62%

Higher net margin than 93% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

41st percentile

$101,662

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 11.7% of source-year revenue.

NTEE B • $5M-$10M nonprofits • Source year 2024

Asset Growth

74th percentile

17%

Faster asset growth than 74% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

83rd percentile

51%

Faster revenue growth than 83% of similar nonprofits.

NTEE B • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Up

$7,672,280

Up $1,697,308 (+28%) from 2020

Liabilities

Down

$0

Down $81 (-100%) from 2020

Net Assets

Up

$7,672,280

Up $1,697,389 (+28%) from 2020

Revenue

Up

$2,015,919

Up $1,600,110 (+385%) from 2020

Expenses

Up

$318,530

Up $26,885 (+9.2%) from 2020

Net Income

Up

$1,697,389

Up $1,573,225 (+1267%) from 2020

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $3,208,755Liabilities 2011: $0Net Assets 2011: $3,208,7552011Assets 2012: $3,209,224Liabilities 2012: $918Net Assets 2012: $3,208,3062012Assets 2014: $4,184,133Liabilities 2014: $704Net Assets 2014: $4,183,4292014Assets 2015: $4,463,777Liabilities 2015: $0Net Assets 2015: $4,463,7772015Assets 2017: $5,149,763Liabilities 2017: $0Net Assets 2017: $5,149,7632017Assets 2018: $5,560,546Liabilities 2018: $1,291Net Assets 2018: $5,559,2552018Assets 2019: $5,844,384Liabilities 2019: $36,188Net Assets 2019: $5,808,1962019Assets 2020: $5,974,972Liabilities 2020: $81Net Assets 2020: $5,974,8912020Assets 2021: $7,672,280Liabilities 2021: $0Net Assets 2021: $7,672,2802021

Highlighted filing

2021

Assets$7,672,280
Liabilities$0
Net Assets$7,672,280

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0Expenses 2011: $98,8632011Expenses 2012: $126,3892012Revenue 2014: $230,775Expenses 2014: $113,468Net Income 2014: $117,3072014Revenue 2015: $486,112Expenses 2015: $216,043Net Income 2015: $270,0692015Revenue 2017: $430,300Expenses 2017: $255,388Net Income 2017: $174,9122017Revenue 2018: $395,668Expenses 2018: $194,998Net Income 2018: $200,6702018Revenue 2019: $359,012Expenses 2019: $285,345Net Income 2019: $73,6672019Revenue 2020: $415,809Expenses 2020: $291,645Net Income 2020: $124,1642020Revenue 2021: $2,015,919Expenses 2021: $318,530Net Income 2021: $1,697,3892021

Highlighted filing

2021

Revenue$2,015,919
Expenses$318,530
Net Income$1,697,389

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Feb 16, 2022
Return Version
2020v4.1
Gross Receipts
$2,015,919
Mission and Program Overview

Mission

The Foundation, through its initiatives, partners with Southwestern Community College

The Foundation, through its initiatives, partners with Southwestern Community College in its efforts to offer high quality, innovative instruction and support. See full mission statement on page 2

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,685,376$7,349,386▲ $1,664,010
Cash and Non-Interest-Bearing Accounts$119,843$129,094▲ $9,251
Savings and Temporary Cash Investments$94,589$119,843▲ $25,254
Pledges and Grants Receivable$75,164$73,957▼ $1,207
Total Assets$5,974,972$7,672,280▲ $1,697,308
Liabilities
Accounts Payable and Accrued Expenses$81$0▼ $81
Other Liabilities-$0-
Total Liabilities$81$0▼ $81
Net Assets / Fund Balance
Net Assets With Donor Restrictions$5,793,573$7,422,414▲ $1,628,841
Net Assets Without Donor Restrictions$181,318$249,866▲ $68,548
Total Net Assets Fund Balance$5,974,891$7,672,280▲ $1,697,389
Total Liabilities and Net Assets / Fund Balance$5,974,972$7,672,280▲ $1,697,308

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$4,827,145$0▲ $1,333,873-$6,161,018
2019$4,467,874$146,478▲ $212,793-$4,827,145
2018$4,247,219$104,244▲ $116,411-$4,467,874
2017$3,964,288$147,414▲ $135,517-$4,247,219
2016$3,481,192$67,019▲ $416,077-$3,964,288
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brett L Woods MLA CFREDirector of the FoundationPT$22,313$7,189$29,502

Board Members and Trustees

NameTitle
Lisa LeathermanChair
Jenny HollandChair Elect
Dr Don TomasCollege President
Brad HyderBoard Member
Brenda HoltBoard Member
Brooks RobinsonBoard Member
Charles WolfBoard Member
Gail DebnamBoard Member
Howard AllmanBoard Member
J Vance DavidsonBoard Member
Jim MooreBoard Member
Kim AlbrittonBoard Member
Leo JamesBoard Member
Lucretia StargellBoard Member
Luke HydeBoard Member
Lynn DillardBoard Member
Terri McElroyBoard Member
Wendy LemayBoard Member
Diane SherrillSecretary
William BrothersVP, Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$351,030
Program Service Revenue
$0
Investment Income
$1,664,889
Other Revenue
$0
All Other Contributions
$351,030
Change in Net Assets
$1,697,389

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,015,919
Revenue Not Reported on Form 990
$209,947
Total Revenue per Audited Statements
$2,225,866
Total Revenue per Form 990
$2,015,919
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$181,802
Other Expenses$136,728
Total Fundraising Expense$8,400
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$181,802--$181,802
Other Expenses$0$19,213$0$19,213
Information Technology$0$14,000$0$14,000
Fees for Services Accounting$0$7,910$0$7,910
Total Functional Expenses$269,007$41,123$8,400$318,530

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$528,477
Expenses per Audited Statements$318,530
Total Expenses per Form 990$318,530
Expenses Not Reported on Form 990$209,947
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
N/a$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
No
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
Filing and Contact Details

Filer

Filer Name
Southwestern Community College Foundation Inc
EIN
23-7322352
Phone
8285864091
Address
447 College Drive, Sylva, NC 28779

Signing Officer

Name
Brett Woods
Title
Director
Phone
8285864091
Signed
2022-02-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brett Woods
Formed
1973
Legal Domicile
Nc
Voting Board Members
20
Independent Board Members
20
Employees
0
Volunteers
25

Preparer

Firm
Corliss & Solomon Pllc
Address
242 CHARLOTTE ST SUITE 1, ASHEVILLE, NC 28801
Preparer
Stephen C Corliss
Phone
8282360206
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

The 990 is prepared by independent accountants and reviewed by management and presented to the Board for review and questions.

Pt VI, Line 12C

Discussed in Board meetings. Any Board Member with a conflict of interest on any specific issue informs the Board and abstains from voting on the issue.

Pt VI, Line 15A

Consistent with the Community College Laws of North Carolina for nonprofit corporations whose sole purpose is to support the community college system, the College provides various resources and services to the Foundation. The management and administration of the foundation are carried out by employees of the College.

Pt VI, Line 19

Upon request, through the NC Secretary of State website, and online through the websites of many charity watch organizations.

Other

Part VII - Compensation reported in Part VII for the Director of the Foundation is paid by the College. Since the amount paid was for services to the Foundation and the College does not meet the IRS definition of a Related Organization, the amount has been reported as if it were paid by the Foundation in accordance with Form 990 instructions. Further, the Director of the Foundation's time is divided and allocated between Foundation and College activities. The amount of compensation reported for the Director of the Foundation in Part VII represents 30 percent of total compensation.

Financial Statement Notes

Pt V, Line 4

The endowment funds are all designed to generate income to fund scholarships for students of Southwestern Community College.

Pt X, Line 2

The Foundation is exempt from federal income taxes under 501(c)(3) of the Internal Revenue Code. Under the Code, however, income from certain activities not related to the organization's tax-exempt purpose may be subject to taxation as unrelated business income. The organization had no income from unrelated business activities in 2019-20 and was, therefore, not required to file Federal Form 990-T (Exempt Organization Business Income Tax Return). The organization believes that it has appropriate support for all tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements.

Pt XI, Line 2D

Event Expense $4,679

Pt XII, Line 2D

Event Expense $4,679

Other

Pt XII Line 2b The College provides personnel, office space and the use of office equipment for Foundation activities as an in-kind donation. The Foundation does not have any employees of its own. Programs are carried out by College employees, who divide their time between College and Foundation activities. College employees include the Foundation Executive Director.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0College President
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IRS990/Form990PartVIISectionAGrp/TitleTxt7Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt8Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt9Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt10Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt11Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt12Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt13Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt14Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt15Board Member
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IRS990/ProgSrvcAccomActy2Grp/Desc0-School based selection committees meet annually to select rising 7th graders with high potential from the applicant pool. -NCS provides guaranteed, last-dollar tuition assistance to pursue a degree at SCC. -Students, parents, public schools and SCC sign agreements committing to specfic standards/support. -Community businesses, individuals and groups generously provide funding to induct new cohorts of New Century Scholars. . The program's funding is generated by annual donations from residents of Jackson, Macon and Swain Counties. https://www.southwesterncc.edu/new-century-scholars
IRS990/ProgSrvcAccomActy3Grp/Desc0General Scholarship Support: Southwestern Community College Foundation was established in 1973. It exists solely to support the mission of SCC and is governed by a Board of Directors. The foundation receives unrestricted gifts through the Southwestern Community College Annual Fund, a yearly campaign to support students and the mission of the College. In addition, the foundation solicits contributions from individuals, foundations and companies to establish endowed Named Scholarships, as well as provide Annual Scholarships. In 2020-21 164 Scholarships were awarded at a value of $181,802. Financial gifts to the Foundation allow SCC to maintain a level of excellence beyond that provided by state and local financial support. These gifts help fund many of the "essentials" of education, and allow SCC to keep pace with the ever expanding needs of our community. Scholarship Types: Endowed scholarships are established by individuals wishing to provide long term, multigenerational support to students at SCC. For $15,000 or more, a scholarship is established and awarded based on the donors' criteria, out of the earnings of their gift. The entire $15,000 does not have to be provided initially. The commitment may be spread over time. Some donors prefer to provide a gift every year to assist a student or students. Dogwood Crafters has been providing scholarship monies to the Foundation for close to a decade to annually assist students with an interest in the arts and crafts areas of traditional mountain heritage. The Foundation has an Annual Fund drive to raise money to assure a vibrant and financially strong Foundation. In most years, a portion of these funds are offered to students in the form of scholarships.
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