Civic Intelligence

New River Community College Educational Foundation Inc.

990 • Fiscal year 2019 • EIN 52-1203686

Jan 01, 2019 to Dec 31, 2019 • Filed on May 01, 2020

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

(540) 674-3600

Siviq Scores

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

Liabilities / Assets

5th percentile

0.00x

Higher debt load relative to assets than 5% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

5th percentile

0.00x

Higher debt load relative to revenue than 5% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

91st percentile

51%

Higher net margin than 91% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

29th percentile

$121,355

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 4.5% of source-year revenue.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Asset Growth

89th percentile

29%

Faster asset growth than 89% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

87th percentile

39%

Faster revenue growth than 87% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets5th percentile

Assets

Up

$20,189,203

Up $4,541,458 (+29%) from 2018

Net Assets

Up

$20,187,314

Up $4,559,855 (+29%) from 2018

Liabilities

Down

$1,889

Down $18,397 (-91%) from 2018

Revenue And Expenses
Liabilities / Revenue5th percentileNet Margin91st percentile

Revenue

Up

$2,679,523

Up $755,917 (+39%) from 2018

Expenses

Up

$1,307,908

Up $242,186 (+23%) from 2018

Net Income

Up

$1,371,615

Up $513,731 (+60%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth89th 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

2019

Assets$20,189,203
Liabilities$1,889
Net Assets$20,187,314
Open 2019 Filing

Operations Trend

Revenue Growth87th 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

2019

Revenue$2,679,523
Expenses$1,307,908
Net Income$1,371,615
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 1, 2020
Return Version
2019v5.0
Gross Receipts
$3,182,431
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$14,291,354$18,464,439▲ $4,173,085
Land, Buildings, and Equipment, Net$1,202,366$1,195,631▼ $6,735
Cash and Non-Interest-Bearing Accounts$108,002$494,417▲ $386,415
Other Notes and Loans Receivable, Net$46,023$29,716▼ $16,307
Accounts Receivable-$5,000-
Total Assets$15,647,745$20,189,203▲ $4,541,458
Liabilities
Deferred Revenue$7,000--
Accounts Payable and Accrued Expenses$532$945▲ $413
Other Liabilities$12,754$944▼ $11,810
Total Liabilities$20,286$1,889▼ $18,397
Net Assets / Fund Balance
Net Assets With Donor Restrictions$8,408,933$10,119,056▲ $1,710,123
Net Assets Without Donor Restrictions$7,218,526$10,068,258▲ $2,849,732
Total Net Assets Fund Balance$15,627,459$20,187,314▲ $4,559,855
Total Liabilities and Net Assets / Fund Balance$15,647,745$20,189,203▲ $4,541,458

Asset Categories

AssetBook ValueDepreciationBasis
Land$1,087,017-$1,087,017
Equipment-$486,682$486,682
Buildings$108,614$160,485$269,099

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$11,137,904$1,322,662▲ $3,309,234-$15,351,219
2018$11,241,959$847,381▼ $651,372-$11,137,904
2017$8,958,181$795,330▲ $1,886,345-$11,241,959
2016$8,253,650$335,151▲ $637,490-$8,958,181
2015$10,204,390$650,000▼ $86,295-$10,731,434
Compensation and Service Providers
Top Officer Pay29th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Angela CoveyExecutive DiPT$121,355$121,355

Board Members and Trustees

NameTitle
Lawhorn EdChair
Aden WilliamBoard Member
Blake RobertBoard Member
Brown JohnBoard Member
Epley CarlBoard Member
Hale EddieBoard Member
Hancock GaryBoard Member
Huber PatBoard Member
Overstreet WaylonBoard Member
Owens AndrewBoard Member
Rakes JamesBoard Member
Ridpath DavidBoard Member
Shelor LarryBoard Member
Simmons L TBoard Member
Stallings Martha AnnBoard Member
Watson MichaelBoard Member
Webb LewisBoard Member
Wheeler AnneBoard Member
Barnes EdDirector Eme
Edwards RandallDirector Eme
Nicely HiwathaDirector Eme
Pugh LeslieDirector Eme
Graham FlorineEmeritus Boa
Revenue and Support

Revenue Composition

Contributions and Grants
$2,430,112
Program Service Revenue
$0
Investment Income
$232,731
Other Revenue
$16,680
All Other Contributions
$2,430,112
Change in Net Assets
$1,371,615

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 Traded2$502,542Fair Market Value
Cars and Other Vehicles1$10,000Fair Market Value
Other Non Cash Contri Table6$2,627Fair Market Value
Total Noncash Contributions9$515,169-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,626,881
Revenue Not Reported on Financial Statements
$52,642
Revenue Not Reported on Form 990
$3,303,342
Total Revenue per Audited Statements
$5,930,223
Total Revenue per Form 990
$2,679,523
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,208,862
Other Expenses$99,046
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$1,208,862--$1,208,862
Office Expenses-$19,837-$19,837
Fees for Services Other-$17,700-$17,700
Conferences and Meetings-$11,475-$11,475
All Other Expenses-$7,103-$7,103
Depreciation Depletion-$6,736-$6,736
Other Expenses$12,627$4,866-$4,866
Insurance-$4,253-$4,253
Travel-$514-$514
Total Functional Expenses$1,221,489$86,419$0$1,307,908

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,370,368
Expenses per Audited Statements$1,307,908
Total Expenses per Form 990$1,307,908
Expenses Not Reported on Form 990$62,460
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
Due to New River Comm College$944
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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 directors for review prior to filing.”

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

“Management and the board of trustees annually monitor 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
5406743600
Address
5251 COLLEGE DRIVE, DUBLIN, VA 24084

Signing Officer

Name
Angela Covey
Title
Executive Director
Phone
5406743600
Signed
2020-05-01
Discuss with paid preparer
Yes

Organization Details

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

Preparer

Firm
Cooke Lavender Massey & Company Pc
Address
2001 S MAIN ST STE 6, BLACKSBURG, VA 24060-6667
Preparer
Todd Massey CPA
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.”

Form 990, Page 1, Part I, Line 6

“Board members volunteer their time.”

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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$20,189,203
Liabilities
$1,889
Net assets
$20,187,314
Revenue
$2,679,523
Expenses
$1,307,908
Net income
$1,371,615
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