Civic Intelligence

New River Community College Educational Foundation Inc.

990 • Fiscal year 2016 • EIN 52-1203686

Jan 01, 2016 to Dec 31, 2016 • Filed on Sep 05, 2017

Organization ProfileWWW.NR.EDU/FOUNDATION
5251 College DriveDublin, VA 24084

(540) 674-3618

Siviq Scores

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

Liabilities / Assets

14th percentile

0.01x

Higher debt load relative to assets than 14% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

37th percentile

0.14x

Higher debt load relative to revenue than 37% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

89th percentile

38%

Higher net margin than 89% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

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

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

72nd percentile

8.6%

Faster asset growth than 72% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

63rd percentile

7.7%

Faster revenue growth than 63% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets14th percentile

Assets

Up

$13,441,372

Up $1,062,255 (+8.6%) from 2015

Net Assets

Up

$13,289,588

Up $915,672 (+7.4%) from 2015

Liabilities

Up

$151,784

Up $146,583 (+2818%) from 2015

Revenue And Expenses
Liabilities / Revenue37th percentileNet Margin89th percentile

Revenue

Up

$1,052,659

Up $74,844 (+7.7%) from 2015

Expenses

Up

$656,349

Up $118,431 (+22%) from 2015

Net Income

Down

$396,310

Down $43,587 (-9.9%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth72nd percentile

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

$40M$30M$20M$10M$0Assets 2011: $7,043,512Liabilities 2011: $0Net Assets 2011: $7,043,5122011Assets 2012: $8,067,098Liabilities 2012: $0Net Assets 2012: $8,067,0982012Assets 2013: $11,185,454Liabilities 2013: $0Net Assets 2013: $11,185,4542013Assets 2014: $12,223,692Liabilities 2014: $0Net Assets 2014: $12,223,6922014Assets 2015: $12,379,117Liabilities 2015: $5,201Net Assets 2015: $12,373,9162015Assets 2016: $13,441,372Liabilities 2016: $151,784Net Assets 2016: $13,289,5882016Assets 2017: $15,797,689Liabilities 2017: $34,057Net Assets 2017: $15,763,6322017Assets 2018: $15,647,745Liabilities 2018: $20,286Net Assets 2018: $15,627,4592018Assets 2019: $20,189,203Liabilities 2019: $1,889Net Assets 2019: $20,187,3142019Assets 2020: $22,559,324Liabilities 2020: $1,256Net Assets 2020: $22,558,0682020Assets 2021: $25,600,364Liabilities 2021: $1,256Net Assets 2021: $25,599,1082021Assets 2022: $23,381,970Liabilities 2022: $1,256Net Assets 2022: $23,380,7142022Assets 2023: $28,753,648Liabilities 2023: $1,256Net Assets 2023: $28,752,3922023Assets 2024: $33,230,143Liabilities 2024: $1,256Net Assets 2024: $33,228,8872024

Highlighted filing

2016

Assets$13,441,372
Liabilities$151,784
Net Assets$13,289,588
Open 2016 Filing

Operations Trend

Revenue Growth63rd percentile

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

$6.0M$4.0M$2.0M$0Revenue 2011: $609,568Expenses 2011: $382,262Net Income 2011: $227,3062011Revenue 2012: $708,039Expenses 2012: $360,639Net Income 2012: $347,4002012Revenue 2013: $2,177,553Expenses 2013: $421,310Net Income 2013: $1,756,2432013Revenue 2014: $899,861Expenses 2014: $567,681Net Income 2014: $332,1802014Revenue 2015: $977,815Expenses 2015: $537,918Net Income 2015: $439,8972015Revenue 2016: $1,052,659Expenses 2016: $656,349Net Income 2016: $396,3102016Revenue 2017: $1,447,523Expenses 2017: $734,994Net Income 2017: $712,5292017Revenue 2018: $1,923,606Expenses 2018: $1,065,722Net Income 2018: $857,8842018Revenue 2019: $2,679,523Expenses 2019: $1,307,908Net Income 2019: $1,371,6152019Revenue 2020: $2,238,821Expenses 2020: $1,401,877Net Income 2020: $836,9442020Revenue 2021: $2,938,715Expenses 2021: $1,549,008Net Income 2021: $1,389,7072021Revenue 2022: $2,925,233Expenses 2022: $1,630,139Net Income 2022: $1,295,0942022Revenue 2023: $4,365,778Expenses 2023: $1,761,587Net Income 2023: $2,604,1912023Revenue 2024: $3,891,636Expenses 2024: $1,888,471Net Income 2024: $2,003,1652024

Highlighted filing

2016

Revenue$1,052,659
Expenses$656,349
Net Income$396,310
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Sep 5, 2017
Return Version
2016v3.0
Gross Receipts
$1,103,347
Mission and Program Overview

Mission

The new river community college education foundation, inc (the foundation) serves as a conduit for contributions that provide scholarship opportunities and tuition and book assistance for students, faculty, and staff, at new river community college. The foundation relies on the generosity of the community to continue its work in securing the future of the college, its students, faculty, and staff. Contributions are received from various corporations and the general public and are an investment in the future of the community. Through donations, grants, and endowments, the foundation is able to provide tuition and textbook scholarships for students, fund academic programs, and encourage the professional development of new river community college's faculty and staff. The foundation's work helps to ensure the college continues its pledge of providing academic excellence while expanding the services it offers to fulfill escalating workforce requirements.

The foundation serves as a conduit for contributions that provide scholarship opportunities and tuition and book assistance for students, faculty, and staff, at new river community college.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$10,731,434$11,599,459▲ $868,025
Land, Buildings, and Equipment, Net$1,451,578$1,361,845▼ $89,733
Cash and Non-Interest-Bearing Accounts$66,795$448,860▲ $382,065
Savings and Temporary Cash Investments$98,158--
Other Notes and Loans Receivable, Net-$29,067-
Accounts Receivable$25,936--
Prepaid Expenses and Deferred Charges-$2,141-
Total Assets$12,379,117$13,441,372▲ $1,062,255
Other Assets Total$5,216--
Liabilities
Accounts Payable and Accrued Expenses$5,201$144,784▲ $139,583
Deferred Revenue-$7,000-
Total Liabilities$5,201$151,784▲ $146,583
Net Assets / Fund Balance
Unrestricted Net Assets$6,162,097$6,644,508▲ $482,411
Permanently Rstr Net Assets$5,155,949$5,574,561▲ $418,612
Temporarily Rstr Net Assets$1,055,870$1,070,519▲ $14,649
Total Net Assets Fund Balance$12,373,916$13,289,588▲ $915,672
Total Liabilities and Net Assets / Fund Balance$12,379,117$13,441,372▲ $1,062,255

Asset Categories

AssetBook ValueDepreciationBasis
Land$1,087,017-$1,087,017
Equipment$146,005$340,677$486,682
Buildings$128,823$140,277$269,100

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$8,253,650$335,151▲ $637,490-$8,958,181
2015$10,204,390$650,000▼ $86,295-$10,731,434
2014$9,098,284$250,000▲ $890,205-$10,204,390
2013$7,262,346$350,000▲ $1,515,552-$9,098,284
2012$6,359,464$250,000▲ $678,005-$7,262,346
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
Aden WilliamBoard Member
Barnes EdBoard Member
Blake RobertBoard Member
Brown JohnBoard Member
Chachra KrishaBoard Member
Edwards RandallBoard Member
Epley CarlBoard Member
Graham FlorineBoard Member
Hale EddieBoard Member
Hancock GaryBoard Member
Lawhorn EdBoard Member
Lewis JackBoard Member
Nicely HiwathaBoard Member
Overstreet WaylandBoard Member
Owens AndrewBoard Member
Pugh LeslieBoard Member
Rakes JamesBoard Member
Rooker GregoryBoard Member
Shelor LarryBoard Member
Simmons L TBoard Member
Watson MichaelBoard Member
Webb LewisBoard Member
Wheeler AnneBoard Member
Covey AngelaExecutive Di
Revenue and Support

Revenue Composition

Contributions and Grants
$844,851
Program Service Revenue
$0
Investment Income
$196,135
Other Revenue
$11,673
All Other Contributions
$844,851
Change in Net Assets
$396,310

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded6$108,282Fair Market Value
Other Non Cash Contri Table1$43,006Fair Market Value
Total Noncash Contributions7$151,288-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,014,389
Revenue Not Reported on Financial Statements
$38,270
Revenue Not Reported on Form 990
$650,896
Total Revenue per Audited Statements
$1,665,285
Total Revenue per Form 990
$1,052,659
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$458,551
Other Expenses$197,798
Total Fundraising Expense$742
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$458,551--$458,551
Depreciation Depletion-$103,833-$103,833
Fees for Services Other-$14,033-$14,033
Conferences and Meetings-$12,991-$12,991
Office Expenses-$10,176-$10,176
Travel-$3,186$742$3,928
Insurance-$2,819-$2,819
Other Expenses$43,006$500-$500
Total Functional Expenses$501,557$154,050$742$656,349

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$745,290
Expenses per Audited Statements$656,349
Total Expenses per Form 990$656,349
Expenses Not Reported on Form 990$88,941
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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, Page 6, Part VI, Line 11B

“990 is provided to management and board of trustees for review prior to filing.”

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

“Annually monitors compliance with conflict of interest policy.”

Form 990, Page 6, Part VI, Line 19

“The foundation makes its governing documents available upon request.”

Filing and Contact Details

Filer

Filer Name
New River Community College
EIN
52-1203686
Phone
5406743618
Address
5251 COLLEGE DRIVE, DUBLIN, VA 24084

Signing Officer

Name
Covey Angela
Title
Executive Director
Phone
5406743618
Signed
2017-09-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Covey Angela
Formed
1980
Legal Domicile
Va
Voting Board Members
24
Independent Board Members
23
Employees
0
Volunteers
23

Preparer

Firm
Michael B Cooke CPA Pc
Address
2001 S MAIN ST STE 6, BLACKSBURG, VA 24060-6667
Preparer
Todd Massey
Phone
5409531152
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The new river community college education foundation, inc (the foundation) serves as a conduit for contributions that provide scholarship opportunities and tuition and book assistance for students, faculty, and staff, at new river community college. The foundation relies on the generosity of the community to continue its work in securing the future of the college, its students, faculty, and staff. Contributions are received from various corporations and the general public and are an investment in the future of the community. Through donations, grants, and endowments, the foundation is able to provide tuition and textbook scholarships for students, fund academic programs, and encourage the professional development of new river community college's faculty and staff. The foundation's work helps to ensure the college continues its pledge of providing academic excellence while expanding the services it offers to fulfill escalating workforce requirements.”

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Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$13,441,372
Liabilities
$151,784
Net assets
$13,289,588
Revenue
$1,052,659
Expenses
$656,349
Net income
$396,310
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$33.2$0.00$33.2$3.89$1.89$2.00
2023Detailed filing. Detailed filing data is available for this year.$28.8$0.00$28.8$4.37$1.76$2.60
2022Detailed filing. Detailed filing data is available for this year.$23.4$0.00$23.4$2.93$1.63$1.30
2021Detailed filing. Detailed filing data is available for this year.$25.6$0.00$25.6$2.94$1.55$1.39
2020Detailed filing. Detailed filing data is available for this year.$22.6$0.00$22.6$2.24$1.40$0.84
2019Detailed filing. Detailed filing data is available for this year.$20.2$0.00$20.2$2.68$1.31$1.37
2018Detailed filing. Detailed filing data is available for this year.$15.6$0.02$15.6$1.92$1.07$0.86
2017Detailed filing. Detailed filing data is available for this year.$15.8$0.03$15.8$1.45$0.73$0.71
2016Detailed filing. Detailed filing data is available for this year.$13.4$0.15$13.3$1.05$0.66$0.40
2015Detailed filing. Detailed filing data is available for this year.$12.4$0.01$12.4$0.98$0.54$0.44
2014Summary only. Only limited summary data is available for this year.$12.2$0.00$12.2$0.90$0.57$0.33
2013Summary only. Only limited summary data is available for this year.$11.2$0.00$11.2$2.18$0.42$1.76
2012Summary only. Only limited summary data is available for this year.$8.07$0.00$8.07$0.71$0.36$0.35
2011Summary only. Only limited summary data is available for this year.$7.04$0.00$7.04$0.61$0.38$0.23