Civic Intelligence

Southeastern Community College Foundation

990 • Fiscal year 2021 • EIN 42-1212111

Jul 01, 2020 to Jun 30, 2021 • Filed on Nov 15, 2021

Organization ProfileWWW.SCCIOWA.EDU/FOUNDATION/INDEX.ASPX
1500 W Agency RdWest Burlington, IA 52655

(319) 208-5065

Siviq Scores

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

Liabilities / Assets

15th percentile

0.01x

Higher debt load relative to assets than 15% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

20th percentile

0.05x

Higher debt load relative to revenue than 20% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

94th percentile

73%

Higher net margin than 94% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

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

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

69th percentile

19%

Faster asset growth than 69% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

94th percentile

194%

Faster revenue growth than 94% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets15th percentile

Assets

Up

$14,492,110

Up $2,293,750 (+19%) from 2020

Net Assets

Up

$14,369,488

Up $3,159,666 (+28%) from 2020

Liabilities

Down

$122,622

Down $865,916 (-88%) from 2020

Revenue And Expenses
Liabilities / Revenue20th percentileNet Margin94th percentile

Revenue

Up

$2,335,661

Up $1,541,364 (+194%) from 2020

Expenses

Down

$629,371

Down $7,719,969 (-92%) from 2020

Net Income

Up

$1,706,290

Up $9,261,333 (+123%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth69th percentile

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

$30M$20M$10M$0Assets 2011: $4,033,731Liabilities 2011: $5,797Net Assets 2011: $4,027,9342011Assets 2012: $4,145,921Liabilities 2012: $1,654Net Assets 2012: $4,144,2672012Assets 2013: $6,864,258Liabilities 2013: $0Net Assets 2013: $6,864,2582013Assets 2014: $7,424,546Liabilities 2014: $2,369Net Assets 2014: $7,422,1772014Assets 2015: $13,586,523Liabilities 2015: $4,147Net Assets 2015: $13,582,3762015Assets 2016: $14,984,706Liabilities 2016: $0Net Assets 2016: $14,984,7062016Assets 2017: $19,461,893Liabilities 2017: $2,007,673Net Assets 2017: $17,454,2202017Assets 2018: $24,011,314Liabilities 2018: $5,304,714Net Assets 2018: $18,706,6002018Assets 2019: $20,604,467Liabilities 2019: $1,762,891Net Assets 2019: $18,841,5762019Assets 2020: $12,198,360Liabilities 2020: $988,538Net Assets 2020: $11,209,8222020Assets 2021: $14,492,110Liabilities 2021: $122,622Net Assets 2021: $14,369,4882021Assets 2022: $16,375,654Liabilities 2022: $2,627,607Net Assets 2022: $13,748,0472022Assets 2023: $19,813,374Liabilities 2023: $5,295,142Net Assets 2023: $14,518,2322023Assets 2024: $20,982,129Liabilities 2024: $5,521,745Net Assets 2024: $15,460,3842024Assets 2025: $21,447,215Liabilities 2025: $5,548,007Net Assets 2025: $15,899,2082025

Highlighted filing

2021

Assets$14,492,110
Liabilities$122,622
Net Assets$14,369,488
Open 2021 Filing

Operations Trend

Revenue Growth94th percentile

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

$10M$5.0M$0-$5.0M-$10MExpenses 2011: $207,1412011Expenses 2012: $150,6612012Expenses 2013: $287,6912013Revenue 2014: $525,194Expenses 2014: $318,299Net Income 2014: $206,8952014Revenue 2015: $6,664,699Expenses 2015: $320,687Net Income 2015: $6,344,0122015Revenue 2016: $1,929,384Expenses 2016: $340,383Net Income 2016: $1,589,0012016Revenue 2017: $3,767,865Expenses 2017: $1,657,326Net Income 2017: $2,110,5392017Revenue 2018: $1,753,388Expenses 2018: $584,874Net Income 2018: $1,168,5142018Revenue 2019: $1,017,556Expenses 2019: $1,075,608Net Income 2019: -$58,0522019Revenue 2020: $794,297Expenses 2020: $8,349,340Net Income 2020: -$7,555,0432020Revenue 2021: $2,335,661Expenses 2021: $629,371Net Income 2021: $1,706,2902021Revenue 2022: $3,936,639Expenses 2022: $3,046,472Net Income 2022: $890,1672022Revenue 2023: $1,068,888Expenses 2023: $709,183Net Income 2023: $359,7052023Revenue 2024: $1,351,149Expenses 2024: $1,165,160Net Income 2024: $185,9892024Revenue 2025: $1,434,571Expenses 2025: $1,527,536Net Income 2025: -$92,9652025

Highlighted filing

2021

Revenue$2,335,661
Expenses$629,371
Net Income$1,706,290
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 15, 2021
Return Version
2020v4.0
Gross Receipts
$4,781,388
Mission and Program Overview

Mission

To attract, collect, manage and disburse contributions for the support of southeastern community college. The foundation awards grants to southeastern community college students. Approximately 300 students received scholarships,from 100 to full tuition, during the year. The foundation also accepts monetary and in-kind donations to support facilities and programming.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$6,689,875$8,299,042▲ $1,609,167
Savings and Temporary Cash Investments$2,229,369$2,306,128▲ $76,759
Pledges and Grants Receivable$1,897,309$2,140,844▲ $243,535
Land, Buildings, and Equipment, Net$150,000$174,138▲ $24,138
Accounts Receivable$19,869$14,827▼ $5,042
Prepaid Expenses and Deferred Charges$4,081$6,784▲ $2,703
Total Assets$12,198,360$14,492,110▲ $2,293,750
Other Assets Total$1,207,857$1,550,347▲ $342,490
Liabilities
Grants Payable$946,371--
Accounts Payable and Accrued Expenses$22,837$103,893▲ $81,056
Other Liabilities$19,330$18,729▼ $601
Total Liabilities$988,538$122,622▼ $865,916
Net Assets / Fund Balance
Net Assets With Donor Restrictions$10,312,020$12,822,806▲ $2,510,786
Net Assets Without Donor Restrictions$897,802$1,546,682▲ $648,880
Total Net Assets Fund Balance$11,209,822$14,369,488▲ $3,159,666
Total Liabilities and Net Assets / Fund Balance$12,198,360$14,492,110▲ $2,293,750

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$174,138-$174,138
Other Assets Org$38,805--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$7,012,085$321,944▲ $1,498,900-$8,460,262
2019$6,761,205$365,626▲ $195,248-$7,012,085
2018$6,438,130$223,785▲ $421,198-$6,761,205
2017$6,142,361$365,395▲ $289,131-$6,438,130
2016$5,362,312$514,004▲ $469,382-$6,142,360
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Frank DelaneyChair
Barb SmidtDirector
Carlene WoodsideDirector
Cathy ZiglarDirector
Charles WalshDirector
Cristy SchmidtDirector
Dana RheinschmidtDirector
Darlys BaumDirector
Jared ReedDirector
Jodi CookDirector
John SchulzDirector
Mac Coffin IiDirector
Mary MooreDirector
Mike GreenwaldDirector
Nancy RoedDirector
Paul DennisonDirector
Phil HechtDirector
Robert CardoniDirector
Suzanne MesserDirector
Terri DowellDirector
Val GiannettinoExec Directo
Kevin CarrTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,991,341
Program Service Revenue
$0
Investment Income
$343,520
Other Revenue
$800
All Other Contributions
$1,991,341
Change in Net Assets
$1,706,290

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,285,281
Revenue Not Reported on Financial Statements
$50,380
Revenue Not Reported on Form 990
$1,563,576
Total Revenue per Audited Statements
$3,848,857
Total Revenue per Form 990
$2,335,661
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$472,762
Other Expenses$156,609
Total Fundraising Expense$50,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$323,801--$323,801
Grants to Domestic Orgs$148,961--$148,961
Fees for Service Investment Mgmnt Fees$50,380--$50,380
Fees for Services Other--$50,000$50,000
Information Technology-$27,420-$27,420
Fees for Services Accounting-$23,669-$23,669
Office Expenses-$4,859-$4,859
Insurance-$281-$281
Total Functional Expenses$523,142$56,229$50,000$629,371

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$689,191
Total Expenses per Form 990$629,371
Expenses per Audited Statements$578,991
Expenses Not Reported on Form 990$110,200
Expenses Not Reported on Financial Statements$50,380
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Southeastern Community CollegeWest Burlington, IAGovEquipment and Grant$50,864
Southeaster Community CollegeWest Burlington, IAGovGift Land-
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$800
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Two Rivers Bank TrustRelated BoardInvestment IncomeNo$932,843
US BankRelated BoardInvestment IncomeNo$462,543
Fm Bank TrustRelated BoardInvestment IncomeNo$85,581
Two Rivers Bank TrustRelated BoardInvestment Mgmt FeesNo$28,524
US BankRelated BoardInvestment Mgmt FeesNo$14,031
Fm Bank TrustRelated BoardInvestment Mgmt FeesNo$7,477
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Charitable Remainder Annuity Trust$18,729
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
Yes
Business relationship with family members
Yes
Business relationship with organization members
Yes
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, Page 6, Part VI, Line 11B

“Draft form 990 is provided to board of director's executive committee to review and approve prior to filing.”

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

“Board member disclosures, if any, are discussed and dealt with at the board level. All potential conflicts of interest have been disclosed and board members verify decision making of these board members.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Southeastern Community College
EIN
42-1212111
Phone
3192085065
Address
1500 W AGENCY RD, WEST BURLINGTON, IA 52655

Signing Officer

Name
Val Giannettino
Title
Exec Director
Phone
3192085065
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Val Giannettino
Formed
1982
Legal Domicile
Ia
Voting Board Members
21
Independent Board Members
21
Employees
0

Preparer

Firm
CPA Associates Pc
Address
PO BOX 547, BURLINGTON, IA 52601
Preparer
Sarah H Beckman
Phone
3197526348
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To attract, collect, manage and disburse contributions for the support of southeastern community college. The foundation awards grants to southeastern community college students. Approximately 300 students received scholarships,from 100 to full tuition, during the year. The foundation also accepts monetary and in-kind donations to support facilities and programming.”

Form 990, Page 2, Part III, Line 4D

“Investment income to management scholarship endowments”

Form 990, Part XI, Line 9

“Net return on perpetual trusts 336,221 net return on crat 8,019 net return on crat 0 net return on perpetual trusts 0 total 344,240”

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

“Funds are to be utilitized for scholarships and ongoing support of the southeastern community college”

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

“Net return gain on perpetual trusts 336,221 net return gain on crat 8,019”

Raw XML AppendixShowing 400 of 571 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$14,492,110
Liabilities
$122,622
Net assets
$14,369,488
Revenue
$2,335,661
Expenses
$629,371
Net income
$1,706,290
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$21.4$5.55$15.9$1.43$1.53$0.09
2024Detailed filing. Detailed filing data is available for this year.$21.0$5.52$15.5$1.35$1.17$0.19
2023Detailed filing. Detailed filing data is available for this year.$19.8$5.30$14.5$1.07$0.71$0.36
2022Detailed filing. Detailed filing data is available for this year.$16.4$2.63$13.7$3.94$3.05$0.89
2021Detailed filing. Detailed filing data is available for this year.$14.5$0.12$14.4$2.34$0.63$1.71
2020Detailed filing. Detailed filing data is available for this year.$12.2$0.99$11.2$0.79$8.35$7.56
2019Detailed filing. Detailed filing data is available for this year.$20.6$1.76$18.8$1.02$1.08$0.06
2018Detailed filing. Detailed filing data is available for this year.$24.0$5.30$18.7$1.75$0.58$1.17
2017Detailed filing. Detailed filing data is available for this year.$19.5$2.01$17.5$3.77$1.66$2.11
2016Detailed filing. Detailed filing data is available for this year.$15.0$0.00$15.0$1.93$0.34$1.59
2015Detailed filing. Detailed filing data is available for this year.$13.6$0.00$13.6$6.66$0.32$6.34
2014Detailed filing. Detailed filing data is available for this year.$7.42$0.00$7.42$0.53$0.32$0.21
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.86$0.00$6.86$0.29
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.15$0.00$4.14$0.15
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.03$0.01$4.03$0.21