Civic Intelligence

Mitchell Community College Foundation and Endowment for Excel

990 • Fiscal year 2021 • EIN 56-1961239

Jul 01, 2020 to Jun 30, 2021 • Filed on Nov 11, 2021

Organization ProfileN/A
500 W Broad StreetStatesville, NC 28677

(704) 878-3202

Siviq Scores

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

Liabilities / Assets

65th percentile

0.00x

Higher debt load relative to assets than 65% of similar nonprofits.

2021 filings • NTEE T • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

65th percentile

0.00x

Higher debt load relative to revenue than 65% of similar nonprofits.

2021 filings • NTEE T • $10M-$25M nonprofits • Source year 2021

Net Margin

58th percentile

46%

Higher net margin than 58% of similar nonprofits.

2021 filings • NTEE T • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

91st percentile

$210,270

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 12.5% of source-year revenue.

2021 filings • NTEE T • $10M-$25M nonprofits • Source year 2021

Asset Growth

82nd percentile

27%

Faster asset growth than 82% of similar nonprofits.

2021 filings • NTEE T • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

75th percentile

168%

Faster revenue growth than 75% of similar nonprofits.

2021 filings • NTEE T • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets65th percentile

Assets

Up

$20,205,009

Up $4,353,000 (+27%) from 2020

Net Assets

Up

$20,205,001

Up $4,352,992 (+27%) from 2020

Liabilities

Up

$8

Up $8 from 2020

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin58th percentile

Revenue

Up

$1,688,451

Up $1,057,476 (+168%) from 2020

Expenses

Up

$915,225

Up $482,871 (+112%) from 2020

Net Income

Up

$773,226

Up $574,605 (+289%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth82nd percentile

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

$30M$20M$10M$0Assets 2012: $12,277,010Liabilities 2012: $25,235Net Assets 2012: $12,251,7752012Assets 2013: $13,193,632Liabilities 2013: $529Net Assets 2013: $13,193,1032013Assets 2014: $14,650,958Liabilities 2014: $191Net Assets 2014: $14,650,7672014Assets 2015: $14,838,074Liabilities 2015: $25,302Net Assets 2015: $14,812,7722015Assets 2016: $14,204,315Liabilities 2016: $2,079Net Assets 2016: $14,202,2362016Assets 2017: $15,569,855Liabilities 2017: $61,689Net Assets 2017: $15,508,1662017Assets 2018: $14,932,384Liabilities 2018: $992Net Assets 2018: $14,931,3922018Assets 2019: $15,333,346Liabilities 2019: $2,724Net Assets 2019: $15,330,6222019Assets 2020: $15,852,009Liabilities 2020: $0Net Assets 2020: $15,852,0092020Assets 2021: $20,205,009Liabilities 2021: $8Net Assets 2021: $20,205,0012021Assets 2022: $17,380,627Liabilities 2022: $0Net Assets 2022: $17,380,6272022Assets 2023: $18,697,682Liabilities 2023: $0Net Assets 2023: $18,697,6822023Assets 2024: $20,270,176Liabilities 2024: $0Net Assets 2024: $20,270,1762024Assets 2025: $21,858,351Liabilities 2025: $4Net Assets 2025: $21,858,3472025

Highlighted filing

2021

Assets$20,205,009
Liabilities$8
Net Assets$20,205,001
Open 2021 Filing

Operations Trend

Revenue Growth75th percentile

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

$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2012: $496,571Expenses 2012: $526,082Net Income 2012: -$29,5112012Revenue 2013: $820,041Expenses 2013: $554,340Net Income 2013: $265,7012013Revenue 2014: $1,107,809Expenses 2014: $884,666Net Income 2014: $223,1432014Revenue 2015: $1,083,952Expenses 2015: $607,275Net Income 2015: $476,6772015Revenue 2016: $1,391,538Expenses 2016: $774,273Net Income 2016: $617,2652016Revenue 2017: $1,038,897Expenses 2017: $754,351Net Income 2017: $284,5462017Revenue 2018: $688,919Expenses 2018: $1,968,938Net Income 2018: -$1,280,0192018Revenue 2019: $1,219,470Expenses 2019: $809,160Net Income 2019: $410,3102019Revenue 2020: $630,975Expenses 2020: $432,354Net Income 2020: $198,6212020Revenue 2021: $1,688,451Expenses 2021: $915,225Net Income 2021: $773,2262021Revenue 2022: $1,954,025Expenses 2022: $406,511Net Income 2022: $1,547,5142022Revenue 2023: $666,512Expenses 2023: $570,627Net Income 2023: $95,8852023Revenue 2024: $1,024,260Expenses 2024: $1,121,083Net Income 2024: -$96,8232024Revenue 2025: $1,787,545Expenses 2025: $1,084,833Net Income 2025: $702,7122025

Highlighted filing

2021

Revenue$1,688,451
Expenses$915,225
Net Income$773,226
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 11, 2021
Return Version
2020v4.0
Gross Receipts
$4,358,714
Mission and Program Overview

Mission

The mission of the mitchell community college foundation and endowment for excellence (the foundation) is to assist mitchell community college (the college) in achieving excellence in its mission of providing an accessible and affordable education to area students; to promote, develop, and encourage public support of the college; and to aid, strengthen, and further in every proper and useful way the work and success of the college.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$15,653,808$20,136,124▲ $4,482,316
Cash and Non-Interest-Bearing Accounts$101,030$68,885▼ $32,145
Land, Buildings, and Equipment, Net$972--
Total Assets$15,852,009$20,205,009▲ $4,353,000
Other Assets Total$96,199--
Liabilities
Other Liabilities-$8-
Total Liabilities$0$8▲ $8
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$15,350,183$18,880,587▲ $3,530,404
Net Assets With Donor Restrictions$501,826$1,324,414▲ $822,588
Total Net Assets Fund Balance$15,852,009$20,205,001▲ $4,352,992
Total Liabilities and Net Assets / Fund Balance$15,852,009$20,205,009▲ $4,353,000

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$6,475$6,475
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeOtherTotal
James HoganDirectorPT$147,049$147,049
Gerald HydeTreasurer-$141,732$141,732

Board Members and Trustees

NameTitle
Ralph BentleyChairman
Julia WilsonVice Chair
Bill PopeDirector
Carol ChildressDirector
Doug MccrackenDirector
Elizabeth CannonDirector
George BrawleyDirector
John SchaeferDirector
Pam StameyDirector
Dr James T BrewerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$795,050
Program Service Revenue
$0
Investment Income
$893,401
Other Revenue
$0
All Other Contributions
$795,050
Change in Net Assets
$773,226

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,688,451
Total Revenue per Audited Statements
$1,688,451
Total Revenue per Form 990
$1,688,451
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$782,128
Other Expenses$133,097
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$782,128--$782,128
Fees for Service Investment Mgmnt Fees-$74,355-$74,355
Fees for Services Legal-$15,598-$15,598
Fees for Services Accounting-$11,975-$11,975
Office Expenses-$4,562-$4,562
Depreciation Depletion$972--$972
Other Expenses$300$450-$300
Total Functional Expenses$783,400$131,825$0$915,225

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$915,225
Total Expenses per Audited Statements$915,225
Total Expenses per Form 990$915,225
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Mitchell Community CollegeStatesville, NC170General Support$782,128
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
Other Liabilities$8
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The 990 is prepared by a paid preparer and reviewed by the executive secretary and treasurer.”

Form 990, Page 6, Part VI, Line 19

“The governing documents can be obtained by the public by either sending a request to gerald hyde, treasurer, at mitchell community college, 500 west broad street, statesville, nc 28677, by calling (704) 878-3202, or by emailing [email protected]”

Filing and Contact Details

Filer

Filer Name
Mitchell Community College
EIN
56-1961239
Phone
7048783202
Address
500 W BROAD STREET, STATESVILLE, NC 28677

Signing Officer

Name
Gerald Hyde
Title
Treasurer
Phone
7048783202
Signed
2021-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr James T Brewer
Formed
1995
Legal Domicile
Nc
Voting Board Members
12
Independent Board Members
12
Employees
0

Preparer

Firm
S Preston Douglas & Associates Llp
Address
PO BOX 2339, LUMBERTON, NC 28359-2339
Preparer
John L Grissom Iii
Phone
9107397523
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The mission of the mitchell community college foundation and endowment for excellence (the foundation) is to assist mitchell community college (the college) in achieving excellence in its mission of providing an accessible and affordable education to area students; to promote, develop, and encourage public support of the college; and to aid, strengthen, and further in every proper and useful way the work and success of the college.”

Form 990, Part XI, Line 9

“Donated services -161,261”

Financial Statement Notes

Schedule D, Page 3, Part X

“The foundation's federal return of organization exempt from income tax (form 990) for 2018, 2019, 2020 are subject to examination by the irs, generally for the three years after they are filed.”

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt08
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OTHER LIABILITIES
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION'S FEDERAL RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) FOR 2018, 2019, 2020 ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THE THREE YEARS AFTER THEY ARE FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0DR JAMES T BREWER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0SECRETARY
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MISSION OF THE MITCHELL COMMUNITY COLLEGE FOUNDATION AND ENDOWMENT FOR EXCELLENCE (THE FOUNDATION) IS TO ASSIST MITCHELL COMMUNITY COLLEGE (THE COLLEGE) IN ACHIEVING EXCELLENCE IN ITS MISSION OF PROVIDING AN ACCESSIBLE AND AFFORDABLE EDUCATION TO AREA STUDENTS; TO PROMOTE, DEVELOP, AND ENCOURAGE PUBLIC SUPPORT OF THE COLLEGE; AND TO AID, STRENGTHEN, AND FURTHER IN EVERY PROPER AND USEFUL WAY THE WORK AND SUCCESS OF THE COLLEGE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 IS PREPARED BY A PAID PREPARER AND REVIEWED BY THE EXECUTIVE SECRETARY AND TREASURER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS CAN BE OBTAINED BY THE PUBLIC BY EITHER SENDING A REQUEST TO GERALD HYDE, TREASURER, AT MITCHELL COMMUNITY COLLEGE, 500 WEST BROAD STREET, STATESVILLE, NC 28677, BY CALLING (704) 878-3202, OR BY EMAILING [email protected]
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DONATED SERVICES -161,261
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
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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
$20,205,009
Liabilities
$8
Net assets
$20,205,001
Revenue
$1,688,451
Expenses
$915,225
Net income
$773,226
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.9$0.00$21.9$1.79$1.08$0.70
2024Detailed filing. Detailed filing data is available for this year.$20.3$0.00$20.3$1.02$1.12$0.10
2023Detailed filing. Detailed filing data is available for this year.$18.7$0.00$18.7$0.67$0.57$0.10
2022Detailed filing. Detailed filing data is available for this year.$17.4$0.00$17.4$1.95$0.41$1.55
2021Detailed filing. Detailed filing data is available for this year.$20.2$0.00$20.2$1.69$0.92$0.77
2020Detailed filing. Detailed filing data is available for this year.$15.9$0.00$15.9$0.63$0.43$0.20
2019Detailed filing. Detailed filing data is available for this year.$15.3$0.00$15.3$1.22$0.81$0.41
2018Summary only. Only limited summary data is available for this year.$14.9$0.00$14.9$0.69$1.97$1.28
2017Detailed filing. Detailed filing data is available for this year.$15.6$0.06$15.5$1.04$0.75$0.28
2016Detailed filing. Detailed filing data is available for this year.$14.2$0.00$14.2$1.39$0.77$0.62
2015Detailed filing. Detailed filing data is available for this year.$14.8$0.03$14.8$1.08$0.61$0.48
2014Detailed filing. Detailed filing data is available for this year.$14.7$0.00$14.7$1.11$0.88$0.22
2013Summary only. Only limited summary data is available for this year.$13.2$0.00$13.2$0.82$0.55$0.27
2012Summary only. Only limited summary data is available for this year.$12.3$0.03$12.3$0.50$0.53$0.03