Civic Intelligence

Asheville-Buncombe Technical Community College Foundation Inc.

990 • Fiscal year 2017 • EIN 56-1993458

Jul 01, 2016 to Jun 30, 2017 • Filed on Dec 13, 2017

Organization Profilewww.abtech.edu
340 Victoria RoadAsheville, NC 28801

(828) 398-7176

Siviq Scores

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

Liabilities / Assets

7th percentile

0.00x

Higher debt load relative to assets than 7% of similar nonprofits.

2017 filings • NTEE B • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

10th percentile

0.01x

Higher debt load relative to revenue than 10% of similar nonprofits.

2017 filings • NTEE B • $10M-$25M nonprofits • Source year 2017

Net Margin

67th percentile

7.6%

Higher net margin than 67% of similar nonprofits.

2017 filings • NTEE B • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

22nd percentile

$27,583

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 3.0% of source-year revenue.

2017 filings • NTEE B • $10M-$25M nonprofits • Source year 2017

Asset Growth

51st percentile

4.5%

Faster asset growth than 51% of similar nonprofits.

2017 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

7th percentile

-23%

Faster revenue growth than 7% of similar nonprofits.

2017 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets7th percentile

Assets

Up

$13,702,488

Up $593,879 (+4.5%) from 2016

Net Assets

Up

$13,691,811

Up $592,596 (+4.5%) from 2016

Liabilities

Up

$10,677

Up $1,283 (+14%) from 2016

Revenue And Expenses
Liabilities / Revenue10th percentileNet Margin67th percentile

Revenue

Down

$915,590

Down $276,685 (-23%) from 2016

Expenses

Down

$846,374

Down $959,927 (-53%) from 2016

Net Income

Up

$69,216

Up $683,242 (+111%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth51st percentile

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

$20M$15M$10M$5.0M$0Assets 2010: $6,771,129Liabilities 2010: $29,043Net Assets 2010: $6,742,0862010Assets 2011: $7,730,240Liabilities 2011: $52,872Net Assets 2011: $7,677,3682011Assets 2012: $7,673,896Liabilities 2012: $36,246Net Assets 2012: $7,637,6502012Assets 2013: $13,403,343Liabilities 2013: $50,499Net Assets 2013: $13,352,8442013Assets 2014: $14,024,526Liabilities 2014: $9,712Net Assets 2014: $14,014,8142014Assets 2015: $13,997,520Liabilities 2015: $18,087Net Assets 2015: $13,979,4332015Assets 2016: $13,108,609Liabilities 2016: $9,394Net Assets 2016: $13,099,2152016Assets 2017: $13,702,488Liabilities 2017: $10,677Net Assets 2017: $13,691,8112017Assets 2018: $14,494,878Liabilities 2018: $8,742Net Assets 2018: $14,486,1362018Assets 2019: $14,259,913Liabilities 2019: $5,378Net Assets 2019: $14,254,5352019Assets 2020: $13,869,810Liabilities 2020: $245,991Net Assets 2020: $13,623,8192020Assets 2021: $16,190,574Liabilities 2021: $83,464Net Assets 2021: $16,107,1102021Assets 2022: $15,076,753Liabilities 2022: $29,171Net Assets 2022: $15,047,5822022Assets 2023: $15,990,740Liabilities 2023: $19,520Net Assets 2023: $15,971,2202023Assets 2024: $16,173,132Liabilities 2024: $39,870Net Assets 2024: $16,133,2622024

Highlighted filing

2017

Assets$13,702,488
Liabilities$10,677
Net Assets$13,691,811
Open 2017 Filing

Operations Trend

Revenue Growth7th percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $758,8752010Expenses 2011: $708,9772011Expenses 2012: $948,3052012Revenue 2013: $6,032,311Expenses 2013: $860,872Net Income 2013: $5,171,4392013Revenue 2014: $747,617Expenses 2014: $891,406Net Income 2014: -$143,7892014Revenue 2015: $915,344Expenses 2015: $963,435Net Income 2015: -$48,0912015Revenue 2016: $1,192,275Expenses 2016: $1,806,301Net Income 2016: -$614,0262016Revenue 2017: $915,590Expenses 2017: $846,374Net Income 2017: $69,2162017Revenue 2018: $1,267,366Expenses 2018: $933,658Net Income 2018: $333,7082018Revenue 2019: $1,297,775Expenses 2019: $1,513,512Net Income 2019: -$215,7372019Revenue 2020: $1,120,459Expenses 2020: $1,652,200Net Income 2020: -$531,7412020Revenue 2021: $1,934,731Expenses 2021: $1,252,239Net Income 2021: $682,4922021Revenue 2022: $1,977,639Expenses 2022: $1,241,022Net Income 2022: $736,6172022Revenue 2023: $1,985,844Expenses 2023: $1,758,870Net Income 2023: $226,9742023Revenue 2024: $2,484,300Expenses 2024: $2,406,286Net Income 2024: $78,0142024

Highlighted filing

2017

Revenue$915,590
Expenses$846,374
Net Income$69,216
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Dec 13, 2017
Return Version
2016v3.0
Gross Receipts
$982,397
Mission and Program Overview

Mission

The mission of the foundation is to support asheville-buncombe technical community college in all of its programs and activities to ensure that quality educational opportunities are available to its students, faculty and staff.

The mission of the Foundation is to support Asheville-Buncombe Technical Community College ("A-B Tech") in all of its programs and activities to ensure that quality educational opportunities are available to its students, faculty and staff.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$5,154,309$5,751,511▲ $597,202
Pledges and Grants Receivable$3,615,675$3,661,421▲ $45,746
Savings and Temporary Cash Investments$2,705,913$2,720,013▲ $14,100
Cash and Non-Interest-Bearing Accounts$24,056$60,641▲ $36,585
Total Assets$13,108,609$13,702,488▲ $593,879
Other Assets Total$1,608,656$1,508,902▼ $99,754
Liabilities
Escrow Account Liability$9,305$8,367▼ $938
Accounts Payable and Accrued Expenses$89$2,310▲ $2,221
Total Liabilities$9,394$10,677▲ $1,283
Net Assets / Fund Balance
Temporarily Rstr Net Assets$9,138,655$9,533,422▲ $394,767
Permanently Rstr Net Assets$3,570,647$3,711,375▲ $140,728
Unrestricted Net Assets$389,913$447,014▲ $57,101
Total Net Assets Fund Balance$13,099,215$13,691,811▲ $592,596
Total Liabilities and Net Assets / Fund Balance$13,108,609$13,702,488▲ $593,879

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$1,506,862--
Other Securities$5,751,511--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$5,154,309$88,074▲ $706,498-$5,799,573
2016$4,976,099$350,735▼ $147,595-$5,154,309
2015$4,357,541$582,370▲ $59,182-$4,976,099
2014$3,746,517$50,000▲ $585,750-$4,357,541
2013$4,115,396$331,927▲ $448,280-$3,746,517
Compensation and Service Providers
Top Officer Pay22nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Amanda EdwardsExecutive DirectorFT$24,523$3,060$27,583

Board Members and Trustees

NameTitle
Chris YoungChair
Dennis KingAB-Tech College President
Mary Ann RiceVice Chair
Adam CharnackBoard Member
Allan GersonBoard Member
Ann SkoglundBoard Member
Anthony JohnsonBoard Member
Bill MurdockBoard Member
Charles FrederickBoard Member
Darryl HartBoard Member
Jack FergusonBoard Member
Joe BrumitBoard Member
John EllisBoard Member
John OswaldBoard Member
Jonathan SzucsBoard Member
K Ray BaileyBoard Member
Larry SchulhofBoard Member
Marcus CoxBoard Member
Michael KryzanekBoard Member
Michael MeguiarBoard Member
O'Neal SheltonBoard Member
Pat CarverBoard Member
Pat WoodBoard Member
Ray SpellsBoard Member
Richard HurleyBoard Member
Ron StortoBoard Member
Sandra ByrdBoard Member
Shea ClineBoard Member
Sheila ElingburgBoard Member
Steven SizemoreBoard Member
Tate GroomeBoard Member
Thomas MaherBoard Member
Dirk WilmothCFO of AB-Tech College
Revenue and Support

Revenue Composition

Contributions and Grants
$774,576
Program Service Revenue
$0
Investment Income
$91,257
Other Revenue
$49,757
All Other Contributions
$744,189
Change in Net Assets
$69,216

Audited Revenue Reconciliation

Revenue per Audited Statements
$887,854
Revenue Not Reported on Financial Statements
$27,736
Revenue Not Reported on Form 990
$741,746
Total Revenue per Audited Statements
$1,629,600
Total Revenue per Form 990
$915,590
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$503,702
Other Expenses$342,672
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$498,438--$498,438
Fees for Service Investment Mgmnt Fees-$27,736-$27,736
Other Expenses$27,533--$27,533
Office Expenses$7,420$1,986-$9,406
Conferences and Meetings-$7,660-$7,660
All Other Expenses$6,590$90-$6,680
Grants to Domestic Orgs$5,264--$5,264
Travel$2,732--$2,732
Fees for Services Other$1,863--$1,863
Information Technology-$272-$272
Total Functional Expenses$808,630$37,744$0$846,374

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,037,004
Total Expenses per Form 990$846,374
Expenses per Audited Statements$818,638
Expenses Not Reported on Form 990$218,366
Expenses Not Reported on Financial Statements$27,736
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
A-B Tech Community CollegeAsheville, NC170(c)(1)Operational Support and Assistance-
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$114,524
Fundraising Direct Expenses$66,807
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Classic$71,212$60,825$11,675$49,150
Autumn in Asheville$66,575$46,575$8,709$37,866
Total Events$144,911$114,524$66,807$47,717
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
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
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
Yes
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
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, Part VI, Section B, line 11B

“The Form 990 is reviewed by the Finance Committee and a copy of the filing is provided to every board member prior to filing the return with the IRS.”

Form 990, Part VI, Section B, line 12C

“New and reappointed board members are required to attend a Board of Directors Orientation session upon appointment/reappointment. During the session, board members fill out a Conflict of Interest Disclosure Statement stating their name, employer, position, and affiliated organizations. Directors with a conflict shall disclose the conflict at the meeting and refrain from voting on the matter related to the conflict.”

Form 990, Part VI, Section B, line 15

“Foundation employees are considered employees of Asheville-Buncombe Technical Community College. The college pays the salaries of Foundation employees. As such, the College handles compensation setting under its compensation policy.”

Form 990, Part VI, Section C, line 19

“The governing documents, conflict of interest policy, and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Asheville-Buncombe Technical Community
EIN
56-1993458
Phone
8283987176
Address
340 Victoria Road, Asheville, NC 28801

Signing Officer

Name
Dirk Wilmoth
Title
CFO
Phone
8283987176
Signed
2017-12-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Amanda Edwards
Formed
1996
Legal Domicile
Nc
Voting Board Members
32
Independent Board Members
32
Employees
0
Volunteers
85

Preparer

Firm
Cherry Bekaert Llp
Address
1111 Metropolitan Ave Ste 1000, Charlotte, NC 28204
Preparer
Amanda Adams
Phone
7043771678
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

“Change in Value - Charitable Remainder Trusts -36,785.”

Financial Statement Notes

Part IV, Line 2B:

“The organization holds various funds for others.”

Part V, Line 4:

“The Foundation's endowment consists of approximately 70 individual donor-restricted funds established for a variety of purposes.”

Part X, Line 2:

“The Foundation believes that it has appropriate support for all tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements.”

Part XI, Line 2D - Other Adjustments:

“Change in Value - Charitable Remainder Trusts -36,785. Special Event Expenses Reported Net of Special Event Revenue 66,807.”

Part XII, Line 2D - Other Adjustments:

“Special Event Expenses Reported Net of Special Event Revenue 66,807.”

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IRS990/Form990PartVIISectionAGrp/PersonNm2Dennis King
IRS990/Form990PartVIISectionAGrp/PersonNm3Dirk Wilmoth
IRS990/Form990PartVIISectionAGrp/PersonNm4K Ray Bailey
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IRS990/Form990PartVIISectionAGrp/PersonNm6Sandra Byrd
IRS990/Form990PartVIISectionAGrp/PersonNm7Pat Carver
IRS990/Form990PartVIISectionAGrp/PersonNm8Adam Charnack
IRS990/Form990PartVIISectionAGrp/PersonNm9Shea Cline
IRS990/Form990PartVIISectionAGrp/PersonNm10Marcus Cox
IRS990/Form990PartVIISectionAGrp/PersonNm11John Ellis
IRS990/Form990PartVIISectionAGrp/PersonNm12Sheila Elingburg
IRS990/Form990PartVIISectionAGrp/PersonNm13Jack Ferguson
IRS990/Form990PartVIISectionAGrp/PersonNm14Charles Frederick
IRS990/Form990PartVIISectionAGrp/PersonNm15Allan Gerson
IRS990/Form990PartVIISectionAGrp/PersonNm16Tate Groome
IRS990/Form990PartVIISectionAGrp/PersonNm17Darryl Hart
IRS990/Form990PartVIISectionAGrp/PersonNm18Richard Hurley
IRS990/Form990PartVIISectionAGrp/PersonNm19Anthony Johnson
IRS990/Form990PartVIISectionAGrp/PersonNm20Michael Kryzanek
IRS990/Form990PartVIISectionAGrp/PersonNm21Thomas Maher
IRS990/Form990PartVIISectionAGrp/PersonNm22Michael Meguiar
IRS990/Form990PartVIISectionAGrp/PersonNm23Bill Murdock
IRS990/Form990PartVIISectionAGrp/PersonNm24John Oswald
IRS990/Form990PartVIISectionAGrp/PersonNm25Larry Schulhof
IRS990/Form990PartVIISectionAGrp/PersonNm26O'Neal Shelton
IRS990/Form990PartVIISectionAGrp/PersonNm27Steven Sizemore
IRS990/Form990PartVIISectionAGrp/PersonNm28Ann Skoglund
IRS990/Form990PartVIISectionAGrp/PersonNm29Ray Spells
IRS990/Form990PartVIISectionAGrp/PersonNm30Ron Storto
IRS990/Form990PartVIISectionAGrp/PersonNm31Jonathan Szucs
IRS990/Form990PartVIISectionAGrp/PersonNm32Pat Wood
IRS990/Form990PartVIISectionAGrp/PersonNm33Amanda Edwards
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt1Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt2AB-Tech College President
IRS990/Form990PartVIISectionAGrp/TitleTxt3CFO of AB-Tech College
IRS990/Form990PartVIISectionAGrp/TitleTxt4Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt5Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt6Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt7Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt8Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt9Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt10Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt11Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt12Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt13Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt14Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt15Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt16Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt17Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt18Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt19Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt20Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt21Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt22Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt23Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt24Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt25Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt26Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt27Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt28Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt29Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt30Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt31Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt32Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt33Executive Director
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IRS990/MissionDesc0The mission of the Foundation is to support Asheville-Buncombe Technical Community College in all of its programs and activities to ensure that quality educational opportunities are available to its students, faculty and staff.
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Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$13,702,488
Liabilities
$10,677
Net assets
$13,691,811
Revenue
$915,590
Expenses
$846,374
Net income
$69,216
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.2$0.04$16.1$2.48$2.41$0.08
2023Detailed filing. Detailed filing data is available for this year.$16.0$0.02$16.0$1.99$1.76$0.23
2022Detailed filing. Detailed filing data is available for this year.$15.1$0.03$15.0$1.98$1.24$0.74
2021Detailed filing. Detailed filing data is available for this year.$16.2$0.08$16.1$1.93$1.25$0.68
2020Detailed filing. Detailed filing data is available for this year.$13.9$0.25$13.6$1.12$1.65$0.53
2019Detailed filing. Detailed filing data is available for this year.$14.3$0.01$14.3$1.30$1.51$0.22
2018Detailed filing. Detailed filing data is available for this year.$14.5$0.01$14.5$1.27$0.93$0.33
2017Detailed filing. Detailed filing data is available for this year.$13.7$0.01$13.7$0.92$0.85$0.07
2016Detailed filing. Detailed filing data is available for this year.$13.1$0.01$13.1$1.19$1.81$0.61
2015Detailed filing. Detailed filing data is available for this year.$14.0$0.02$14.0$0.92$0.96$0.05
2014Detailed filing. Detailed filing data is available for this year.$14.0$0.01$14.0$0.75$0.89$0.14
2013Summary only. Only limited summary data is available for this year.$13.4$0.05$13.4$6.03$0.86$5.17
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.67$0.04$7.64$0.95
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.73$0.05$7.68$0.71
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.77$0.03$6.74$0.76