Civic Intelligence

Durham Technical Community College Foundation Inc.

990 • Fiscal year 2014 • EIN 56-1423848

Jul 01, 2013 to Jun 30, 2014 • Filed on Apr 08, 2015

1637 Lawson Street27703

(919) 536-7250

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.03x

Higher debt load relative to assets than 33% of similar nonprofits.

2014 filings • NTEE B • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

52nd percentile

0.09x

Higher debt load relative to revenue than 52% of similar nonprofits.

2014 filings • NTEE B • $1M-$5M nonprofits • Source year 2014

Net Margin

89th percentile

42%

Higher net margin than 89% of similar nonprofits.

2014 filings • NTEE B • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

92nd percentile

$234,504

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 23.0% of source-year revenue.

2014 filings • NTEE B • $1M-$5M nonprofits • Source year 2014

Asset Growth

80th percentile

22%

Faster asset growth than 80% of similar nonprofits.

2014 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

87th percentile

55%

Faster revenue growth than 87% of similar nonprofits.

2014 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2013 to 2014

Assets

Up

$3,535,171

Up $647,558 (+22%) from 2013

Net Assets

Up

$3,439,931

Up $611,368 (+22%) from 2013

Liabilities

Up

$95,240

Up $36,190 (+61%) from 2013

Revenue

Up

$1,019,877

Up $362,380 (+55%) from 2013

Expenses

Up

$588,679

Up $200,477 (+52%) from 2013

Net Income

Up

$431,198

Up $161,903 (+60%) from 2013

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2010: $2,215,651Liabilities 2010: $0Net Assets 2010: $2,215,6512010Assets 2011: $2,429,914Liabilities 2011: $10,132Net Assets 2011: $2,419,7822011Assets 2012: $2,584,849Liabilities 2012: $5,117Net Assets 2012: $2,579,7322012Assets 2013: $2,887,613Liabilities 2013: $59,050Net Assets 2013: $2,828,5632013Assets 2014: $3,535,171Liabilities 2014: $95,240Net Assets 2014: $3,439,9312014Assets 2015: $3,424,399Liabilities 2015: $5,488Net Assets 2015: $3,418,9112015Assets 2016: $3,459,540Liabilities 2016: $9,578Net Assets 2016: $3,449,9622016Assets 2017: $3,797,445Liabilities 2017: $5,002Net Assets 2017: $3,792,4432017Assets 2018: $4,194,431Liabilities 2018: $7,990Net Assets 2018: $4,186,4412018Assets 2019: $6,064,663Liabilities 2019: $3,785Net Assets 2019: $6,060,8782019Assets 2020: $6,859,499Liabilities 2020: $3,780Net Assets 2020: $6,855,7192020Assets 2021: $8,587,865Liabilities 2021: $10,451Net Assets 2021: $8,577,4142021Assets 2022: $8,356,113Liabilities 2022: $48,778Net Assets 2022: $8,307,3352022Assets 2023: $14,403,429Liabilities 2023: $14,369Net Assets 2023: $14,389,0602023Assets 2024: $16,509,018Liabilities 2024: $5,607Net Assets 2024: $16,503,4112024

Highlighted filing

2014

Assets$3,535,171
Liabilities$95,240
Net Assets$3,439,931

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $136,7362010Expenses 2011: $187,2172011Expenses 2012: $202,1872012Revenue 2013: $657,497Expenses 2013: $388,202Net Income 2013: $269,2952013Revenue 2014: $1,019,877Expenses 2014: $588,679Net Income 2014: $431,1982014Revenue 2015: $1,034,437Expenses 2015: $904,668Net Income 2015: $129,7692015Revenue 2016: $493,119Expenses 2016: $525,694Net Income 2016: -$32,5752016Revenue 2017: $725,639Expenses 2017: $583,695Net Income 2017: $141,9442017Revenue 2018: $983,532Expenses 2018: $657,199Net Income 2018: $326,3332018Revenue 2019: $2,875,742Expenses 2019: $1,259,929Net Income 2019: $1,615,8132019Revenue 2020: $2,171,172Expenses 2020: $1,585,349Net Income 2020: $585,8232020Revenue 2021: $1,692,740Expenses 2021: $926,948Net Income 2021: $765,7922021Revenue 2022: $2,180,134Expenses 2022: $1,151,038Net Income 2022: $1,029,0962022Revenue 2023: $6,706,411Expenses 2023: $1,182,973Net Income 2023: $5,523,4382023Revenue 2024: $2,699,110Expenses 2024: $1,194,350Net Income 2024: $1,504,7602024

Highlighted filing

2014

Revenue$1,019,877
Expenses$588,679
Net Income$431,198
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Apr 8, 2015
Return Version
2013v4.0
Gross Receipts
$1,643,844
Mission and Program Overview

Mission

To promote the current and long-term success of durham technical community college by inspiring charitable investment in its students, faculty, and staff advocating for the institution's compelling work, and serving as excellent stewards of the foundation's assets.

To promote the current and long-term success of Durham Technical Community College by inspiring charitable investment in its students, faculty, and staff; advocating for the institution's compelling work; and serving as excellent stewards of the Foundation's assets.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,959,329$2,297,894▲ $338,565
Cash and Non-Interest-Bearing Accounts$749,525$638,379▼ $111,146
Savings and Temporary Cash Investments$143,610$572,638▲ $429,028
Pledges and Grants Receivable$28,057$18,894▼ $9,163
Land, Buildings, and Equipment, Net$7,092$5,066▼ $2,026
Inventories for Sale or Use-$2,300-
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-
Intangible Assets-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$2,887,613$3,535,171▲ $647,558
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$59,050$95,240▲ $36,190
Total Liabilities$59,050$95,240▲ $36,190
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,639,973$2,172,065▲ $532,092
Permanently Rstr Net Assets$963,242$990,643▲ $27,401
Unrestricted Net Assets$225,348$277,223▲ $51,875
Total Net Assets Fund Balance$2,828,563$3,439,931▲ $611,368
Total Liabilities and Net Assets / Fund Balance$2,887,613$3,535,171▲ $647,558

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$5,066$5,066$10,132

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$2,137,415$28,606▲ $312,008-$2,429,755
2012$1,999,521$41,051▲ $163,685-$2,137,416
2011$1,944,085$43,575▲ $84,700-$1,999,521
2010$1,649,013$23,205▲ $303,465-$1,944,085
2009$1,647,114$45,237▼ $815-$1,649,013
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Ms Gayle SimsExecutive DirectorFT$93,670$93,670
Ms Melissa ChappellExecutive DirectorFT$12,301$12,301

Board Members and Trustees

NameTitle
Mr Jerry O'KeeffeBoard Chair
Ms Gracie Johnson-LopezVice Chair
Mr Bill KalkhofBoard Member
Mr Charles T Wilson JrBoard Member
Mr Eric CrosonBoard Member
Mr Jay MebaneBoard Member
Mr Jeff StewartBoard Member
Mr John AndersonBoard Member
Mr John WagnerBoard Member
Mr Kevin MontgomeryBoard Member
Mr Lee JohnsonBoard Member
Mr M Hager RandBoard Member
Mr Malvern F King JrBoard Member
Mr Mason AilstockBoard Member
Mr Richard L FurrBoard Member
Mr Stephen PikeBoard Member
Mr Ted N GriffinBoard member
Ms Leah OgdenBoard Member
Ms Lois DeloatchBoard Member
Ms Lucy StokesBoard Member
Ms Lynn M WilsonBoard Member
Dr William G IngramSecretary
Mr Robert KeeneyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$877,577
Program Service Revenue
$0
Investment Income
$142,300
Other Revenue
$0
All Other Contributions
$877,577
Change in Net Assets
$431,198

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,019,877
Revenue Not Reported on Form 990
$383,509
Total Revenue per Audited Statements
$1,403,386
Total Revenue per Form 990
$1,019,877
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$535,147
Other Expenses$53,532
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$430,032--$430,032
Grants to Domestic Individuals$105,115--$105,115
Fees for Service Investment Mgmnt Fees-$26,505-$26,505
Fees for Services Accounting-$6,220-$6,220
Other Expenses-$2,800-$2,800
Conferences and Meetings-$2,296-$2,296
Depreciation Depletion-$2,026-$2,026
Total Functional Expenses$535,147$53,532$0$588,679

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$792,018
Expenses per Audited Statements$588,679
Total Expenses per Form 990$588,679
Expenses Not Reported on Form 990$203,339
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
56-0792513---$430,032
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 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

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

The Form 990 will be reviewed by the Finance & Investment Committee and the Executive Director.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The board members are required to complete a conflict of interest questionnaire on an annual basis. The questionnaires are reviewed by the executive director and the other board members.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The salaries of the Foundation's directors are paid by Durham Technical Community College. To determine the Executive Director's salary, the College's President reviewed salaries across the nation for similar positions (through the Chronicle of Higher Education database) and statewide (through information on the web for public educational institutions).The salary was then based on a comparison between Director salaries and Administrator salaries.

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

Audited financial statements are available on Durham Tech's website.

Filing and Contact Details

Filer

EIN
56-1423848
Phone
9195367250

Signing Officer

Name
Ms Melissa Chappell
Title
Executive Director
Signed
2015-04-08
Discuss with paid preparer
Yes

Organization Details

Formed
1982
Legal Domicile
Nc
Voting Board Members
23
Independent Board Members
21
Employees
0

Preparer

Preparer
Kenneth D Gibbs
Phone
9195440555
Supplemental Narrative

Additional Explanations

Client Note 1

Client Note 1 - Durham Technical Community College Foundation received approximately $33,271 in non-cash donations which were not included in Part VIII, Line 1g. of Form 990.

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

Endowment funds primarily are used to provide scholarships for students to attend Durham Technical Community College.

Part X : FIN48 Footnote

Uncertain tax positions In June 2006, the Financial Accounting Standards Board (FASB) released FASB ASC 740-10, Income Taxes, that provides guidance for reporting uncertainty in income taxes. For the year ended June 30, 2014, the Foundation has considered FASB ASC 740-10, as amended by Accounting Standards Update (ASU) 2009-06, and determined that no material uncertain tax positions qualify for either recognition or disclosure in the financial statements. The Foundations federal Return of Organization Exempt from Income Tax (Form 990) for 2011 through 2014 are subject to examination by the IRS, generally for three years after they were filed.

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IRS990/Form990PartVIISectionAGrp/PersonNm4Ms Lois Deloatch
IRS990/Form990PartVIISectionAGrp/PersonNm5Mr Jerry O'Keeffe
IRS990/Form990PartVIISectionAGrp/PersonNm6Ms Gracie Johnson-Lopez
IRS990/Form990PartVIISectionAGrp/PersonNm7Mr Lee Johnson
IRS990/Form990PartVIISectionAGrp/PersonNm8Mr Ted N Griffin
IRS990/Form990PartVIISectionAGrp/PersonNm9Mr Robert Keeney
IRS990/Form990PartVIISectionAGrp/PersonNm10Dr William G Ingram
IRS990/Form990PartVIISectionAGrp/PersonNm11Mr Stephen Pike
IRS990/Form990PartVIISectionAGrp/PersonNm12Mr Bill Kalkhof
IRS990/Form990PartVIISectionAGrp/PersonNm13Mr Malvern F King Jr
IRS990/Form990PartVIISectionAGrp/PersonNm14Mr Jay Mebane
IRS990/Form990PartVIISectionAGrp/PersonNm15Mr Kevin Montgomery
IRS990/Form990PartVIISectionAGrp/PersonNm16Mr M Hager Rand
IRS990/Form990PartVIISectionAGrp/PersonNm17Ms Lucy Stokes
IRS990/Form990PartVIISectionAGrp/PersonNm18Mr Jeff Stewart
IRS990/Form990PartVIISectionAGrp/PersonNm19Mr John Wagner
IRS990/Form990PartVIISectionAGrp/PersonNm20Ms Leah Ogden
IRS990/Form990PartVIISectionAGrp/PersonNm21Mr Charles T Wilson Jr
IRS990/Form990PartVIISectionAGrp/PersonNm22Ms Lynn M Wilson
IRS990/Form990PartVIISectionAGrp/PersonNm23Ms Gayle Sims
IRS990/Form990PartVIISectionAGrp/PersonNm24Ms Melissa Chappell
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IRS990/Form990PartVIISectionAGrp/TitleTxt3Board Member
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IRS990/Form990PartVIISectionAGrp/TitleTxt5Board Chair
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IRS990/Form990PartVIISectionAGrp/TitleTxt8Board member
IRS990/Form990PartVIISectionAGrp/TitleTxt9Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt10Secretary
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IRS990/Form990PartVIISectionAGrp/TitleTxt13Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt14Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt15Board Member
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IRS990/Form990PartVIISectionAGrp/TitleTxt21Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt22Board Member
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$16.5$0.01$16.5$2.70$1.19$1.50
2023Detailed filing. Detailed filing data is available for this year.$14.4$0.01$14.4$6.71$1.18$5.52
2022Detailed filing. Detailed filing data is available for this year.$8.36$0.05$8.31$2.18$1.15$1.03
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.59$0.01$8.58$1.69$0.93$0.77
2020Detailed filing. Detailed filing data is available for this year.$6.86$0.00$6.86$2.17$1.59$0.59
2019Detailed filing. Detailed filing data is available for this year.$6.06$0.00$6.06$2.88$1.26$1.62
2018Detailed filing. Detailed filing data is available for this year.$4.19$0.01$4.19$0.98$0.66$0.33
2017Detailed filing. Detailed filing data is available for this year.$3.80$0.01$3.79$0.73$0.58$0.14
2016Detailed filing. Detailed filing data is available for this year.$3.46$0.01$3.45$0.49$0.53$0.03
2015Detailed filing. Detailed filing data is available for this year.$3.42$0.01$3.42$1.03$0.90$0.13
2014Detailed filing. Detailed filing data is available for this year.$3.54$0.10$3.44$1.02$0.59$0.43
2013Summary only. Only limited summary data is available for this year.$2.89$0.06$2.83$0.66$0.39$0.27
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.58$0.01$2.58$0.20
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.43$0.01$2.42$0.19
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.22$0.00$2.22$0.14