Civic Intelligence

Somerset Community College Foundation Inc.

990 • Fiscal year 2020 • EIN 27-0137175

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

Organization ProfileN/A
808 Monticello StreetSomerset, KY 42501

(606) 451-6618

Siviq Scores

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

Liabilities / Assets

21st percentile

0.00x

Higher debt load relative to assets than 21% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

22nd percentile

0.01x

Higher debt load relative to revenue than 22% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

81st percentile

30%

Higher net margin than 81% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

60th percentile

11%

Faster asset growth than 60% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

96th percentile

217%

Faster revenue growth than 96% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets21st percentile

Assets

Up

$1,012,429

Up $97,757 (+11%) from 2019

Net Assets

Up

$1,008,829

Up $97,757 (+11%) from 2019

Liabilities

Flat

$3,600

Flat from 2019

Revenue And Expenses
Liabilities / Revenue22nd percentileNet Margin81st percentile

Revenue

Up

$322,261

Up $220,479 (+217%) from 2019

Expenses

Up

$224,504

Up $183,807 (+452%) from 2019

Net Income

Up

$97,757

Up $36,672 (+60%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth60th percentile

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

$1.5M$1.0M$500K$0Assets 2012: $445,918Liabilities 2012: $3,450Net Assets 2012: $442,4682012Assets 2013: $758,633Liabilities 2013: $4,043Net Assets 2013: $754,5902013Assets 2014: $1,024,417Liabilities 2014: $3,500Net Assets 2014: $1,020,9172014Assets 2015: $811,048Liabilities 2015: $14,794Net Assets 2015: $796,2542015Assets 2017: $788,089Liabilities 2017: $3,612Net Assets 2017: $784,4772017Assets 2018: $853,587Liabilities 2018: $3,600Net Assets 2018: $849,9872018Assets 2019: $914,672Liabilities 2019: $3,600Net Assets 2019: $911,0722019Assets 2020: $1,012,429Liabilities 2020: $3,600Net Assets 2020: $1,008,8292020Assets 2021: $922,170Liabilities 2021: $3,600Net Assets 2021: $918,5702021Assets 2022: $1,018,619Liabilities 2022: $3,750Net Assets 2022: $1,014,8692022Assets 2023: $889,002Liabilities 2023: $4,438Net Assets 2023: $884,5642023

Highlighted filing

2020

Assets$1,012,429
Liabilities$3,600
Net Assets$1,008,829
Open 2020 Filing

Operations Trend

Revenue Growth96th percentile

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

$600K$400K$200K$0-$200K-$400KRevenue 2012: $20,206Expenses 2012: $17,268Net Income 2012: $2,9382012Expenses 2013: $17,8212013Revenue 2014: $307,635Expenses 2014: $41,308Net Income 2014: $266,3272014Revenue 2015: $185,428Expenses 2015: $410,091Net Income 2015: -$224,6632015Revenue 2017: $76,986Expenses 2017: $146,266Net Income 2017: -$69,2802017Revenue 2018: $107,149Expenses 2018: $41,639Net Income 2018: $65,5102018Revenue 2019: $101,782Expenses 2019: $40,697Net Income 2019: $61,0852019Revenue 2020: $322,261Expenses 2020: $224,504Net Income 2020: $97,7572020Revenue 2021: $120,129Expenses 2021: $210,388Net Income 2021: -$90,2592021Revenue 2022: $358,169Expenses 2022: $261,870Net Income 2022: $96,2992022Revenue 2023: $329,399Expenses 2023: $459,704Net Income 2023: -$130,3052023

Highlighted filing

2020

Revenue$322,261
Expenses$224,504
Net Income$97,757
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Nov 16, 2020
Return Version
2019v5.0
Gross Receipts
$322,261
Mission and Program Overview

Mission

To conduct and carry on work, not for profit, but exclusively for charitable, scientific, literary or educational purposes and to stimulate voluntary financial support for Somerset Community College.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$911,866$975,203▲ $63,337
Pledges and Grants Receivable$2,392$36,712▲ $34,320
Prepaid Expenses and Deferred Charges$414$514▲ $100
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$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-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$914,672$1,012,429▲ $97,757
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$3,600$3,600→ $0
Total Liabilities$3,600$3,600→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$609,036$805,170▲ $196,134
Net Assets Without Donor Restrictions$302,036$203,659▼ $98,377
Total Net Assets Fund Balance$911,072$1,008,829▲ $97,757
Total Liabilities and Net Assets / Fund Balance$914,672$1,012,429▲ $97,757
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Mike ChandlerChairman
Mike TarterVice Chairman
Charlene HarrisDirector
Danny FordDirector
Donald BloomerDirector
Martin HatfieldDirector
Paula ThompsonDirector
Phil SmithDirector
Robert ParkerDirector
Tiffany FinleyDirector
Cindy ClouseExecutive Director
Dr Carey CastleEx-Officio
Rodney CasadaSecretary/Treas
Revenue and Support

Revenue Composition

Contributions and Grants
$313,188
Program Service Revenue
$0
Investment Income
$9,073
Other Revenue
$0
All Other Contributions
$313,188
Change in Net Assets
$97,757
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$224,504
Total Fundraising Expense$3,802
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$19,437$19,706$3,802$3,802
Fees for Services Accounting-$3,600-$3,600
All Other Expenses$559$788-$1,347
Insurance-$889-$889
Total Functional Expenses$195,719$24,983$3,802$224,504
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

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
No
Backup withholding compliance
No
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
No
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 with Executive Director.”

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

“Available at Foundation office upon request.”

Filing and Contact Details

Filer

Filer Name
Somerset Community College
EIN
27-0137175
Phone
6064516618
Address
808 Monticello Street, Somerset, KY 42501

Signing Officer

Name
Cindy Clouse
Title
Executive Director
Signed
2020-11-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cindy Clouse
Legal Domicile
Ky
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
15

Preparer

Firm
Randall D Turpin CPA Pllc
Address
225 PARKERS MILL ROAD, SOMERSET, KY 42501
Preparer
Randall D Turpin
Phone
6064511550
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IRS990/PrincipalOfficerNm0Cindy Clouse
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IRS990/ProgSrvcAccomActy2Grp/Desc0Scholarship program is used to provide scholarships to students who might not otherwise have the opportunity to further their education or who have exhibited characteristics and achievements in their educational process that is deemed fitting of recognition and reward.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt019437
IRS990/ProgSrvcAccomActy3Grp/Desc0Other program expenses are amounts used to support Somerset Community College in a variety of general ways.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0559
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt092867
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt08915
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IRS990/PYOtherExpensesAmt040697
IRS990/PYRevenuesLessExpensesAmt061085
IRS990/PYTotalExpensesAmt040697
IRS990/PYTotalRevenueAmt0101782
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt097757
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/CollegeOrganizationInd0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0313188
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt092867
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt099134
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt068341
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0101315
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt08126
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0674845
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IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Reviewed with Executive Director.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Available at Foundation office upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/TotalAssetsGrp/EOYAmt01012429
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt024983
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0195719
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IRS990/TravelGrp/TotalAmt00
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IRS990/UponRequestInd0X

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$1,012,429
Liabilities
$3,600
Net assets
$1,008,829
Revenue
$322,261
Expenses
$224,504
Net income
$97,757
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.89$0.00$0.88$0.33$0.46$0.13
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.02$0.00$1.01$0.36$0.26$0.10
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.92$0.00$0.92$0.12$0.21$0.09
2020Detailed filing. Detailed filing data is available for this year.$1.01$0.00$1.01$0.32$0.22$0.10
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.91$0.00$0.91$0.10$0.04$0.06
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.85$0.00$0.85$0.11$0.04$0.07
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.79$0.00$0.78$0.08$0.15$0.07
2015Detailed filing. Detailed filing data is available for this year.$0.81$0.01$0.80$0.19$0.41$0.22
2014Detailed filing. Detailed filing data is available for this year.$1.02$0.00$1.02$0.31$0.04$0.27
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.76$0.00$0.75$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.45$0.00$0.44$0.02$0.02$0.00
Peer Organizations

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