Civic Intelligence

Asheville-Buncombe Technical Community College Foundation Inc.

990 • Fiscal year 2022 • EIN 56-1993458

Jul 01, 2021 to Jun 30, 2022 • Filed on Apr 24, 2023

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

8th percentile

0.00x

Higher debt load relative to assets than 8% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

10th percentile

0.01x

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

2022 filings • NTEE B • $10M-$25M nonprofits • Source year 2022

Net Margin

86th percentile

37%

Higher net margin than 86% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

30th percentile

$88,024

Higher top officer pay than 30% of similar nonprofits.

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

2022 filings • NTEE B • $10M-$25M nonprofits • Source year 2022

Asset Growth

23rd percentile

-6.9%

Faster asset growth than 23% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

34th percentile

2.2%

Faster revenue growth than 34% of similar nonprofits.

2022 filings • NTEE B • $10M-$25M nonprofits • Annualized from 2021 to 2022

Assets

Down

$15,076,753

Down $1,113,821 (-6.9%) from 2021

Net Assets

Down

$15,047,582

Down $1,059,528 (-6.6%) from 2021

Liabilities

Down

$29,171

Down $54,293 (-65%) from 2021

Revenue

Up

$1,977,639

Up $42,908 (+2.2%) from 2021

Expenses

Down

$1,241,022

Down $11,217 (-0.9%) from 2021

Net Income

Up

$736,617

Up $54,125 (+7.9%) from 2021

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: $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

2022

Assets$15,076,753
Liabilities$29,171
Net Assets$15,047,582

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: $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

2022

Revenue$1,977,639
Expenses$1,241,022
Net Income$736,617
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Apr 24, 2023
Return Version
2021v4.0
Gross Receipts
$2,000,720
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.

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$9,637,551$8,316,838▼ $1,320,713
Savings and Temporary Cash Investments$2,334,145$2,609,584▲ $275,439
Pledges and Grants Receivable$2,372,776$2,501,523▲ $128,747
Cash and Non-Interest-Bearing Accounts$69,522$108,783▲ $39,261
Prepaid Expenses and Deferred Charges-$37,124-
Total Assets$16,190,574$15,076,753▼ $1,113,821
Other Assets Total$1,776,580$1,502,901▼ $273,679
Liabilities
Accounts Payable and Accrued Expenses$83,464$29,171▼ $54,293
Total Liabilities$83,464$29,171▼ $54,293
Net Assets / Fund Balance
Net Assets With Donor Restrictions$15,222,009$13,044,007▼ $2,178,002
Net Assets Without Donor Restrictions$885,101$2,003,575▲ $1,118,474
Total Net Assets Fund Balance$16,107,110$15,047,582▼ $1,059,528
Total Liabilities and Net Assets / Fund Balance$16,190,574$15,076,753▼ $1,113,821

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$1,502,901--
Other Securities$8,316,838--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$8,074,402$222,135▼ $1,011,105-$6,979,746
2021$6,642,383$56,250▲ $1,647,932-$8,074,402
2020$6,773,747$83,164▲ $27,533-$6,642,383
2019$6,615,164$154,718▲ $185,558-$6,773,747
2018$5,799,573$591,255▲ $370,636-$6,615,164
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Amanda EdwardsExecutive DiFT$88,024$88,024

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$1,580,203
Program Service Revenue
$0
Investment Income
$385,606
Other Revenue
$11,830
All Other Contributions
$1,419,939
Change in Net Assets
$736,617

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table32$54,000Fair Market Value (FMV)
Clothing and Household Goods-$21,300Fair Market Value (FMV)
Other Non Cash Contri Table9$5,048Fair Market Value (FMV)
Food Inventory2$2,836Fair Market Value (FMV)
Works of Art1$750Fair Market Value (FMV)
Total Noncash Contributions44$83,934-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,913,052
Revenue Not Reported on Financial Statements
$64,587
Revenue Not Reported on Form 990
$-1,375,764
Total Revenue per Audited Statements
$537,288
Total Revenue per Form 990
$1,977,639
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$658,277
Grants and Similar Amounts Paid$529,549
Salaries, Compensation, and Employee Benefits$53,196
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$510,599--$510,599
All Other Expenses$91,721$6,758-$98,479
Fees for Service Investment Mgmnt Fees-$64,587-$64,587
Information Technology-$43,644-$43,644
Other Salaries and Wages$39,747--$39,747
Other Expenses$28,713--$28,713
Grants to Domestic Orgs$18,950--$18,950
Fees for Services Accounting-$17,463-$17,463
Other Employee Benefits$10,386--$10,386
Office Expenses-$9,900-$9,900
Payroll Taxes$3,063--$3,063
Total Functional Expenses$1,098,670$142,352$0$1,241,022

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,596,816
Total Expenses per Form 990$1,241,022
Expenses per Audited Statements$1,176,435
Expenses Not Reported on Form 990$420,381
Expenses Not Reported on Financial Statements$64,587
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
A-b Tech Community CollegeAsheville, NC-Operational Support$18,950
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$23,081
Fundraising Gross Income$22,826
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$58,003$5,940$5,132$808
Autumn in Ashev$25,370$5,000$2,954$2,046
Total Events$107,439$22,826$23,081$-255
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 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
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, Page 6, Part VI, Line 11B

The form 990 is reviewed by the foundation finance and executive comittees. A public disclosure copy of the form 990 is presented to the full board for approval.

Form 990, Page 6, Part VI, 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, Page 6, Part VI, Line 15A

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 compenasation policy.

Form 990, Page 6, Part VI, 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
EIN
56-1993458
Phone
8283987176
Address
340 VICTORIA ROAD, ASHEVILLE, NC 28801

Signing Officer

Name
Ron Storto
Title
Treasurer
Phone
8283987176
Signed
2023-04-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Amanda Edwards
Formed
1996
Legal Domicile
Nc
Voting Board Members
30
Independent Board Members
30
Employees
0
Volunteers
24

Preparer

Firm
Sharpe Patel CPA
Address
325 ARLINGTON AVE STE 630, CHARLOTTE, NC 28203
Preparer
Megan Rushford CPA
Phone
7044993893
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S 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 avaialble to its students, faculty, and staff.

Form 990, Page 2, Part III, Line 4D

Professional development - the foundation continues to support the needs of additional staff, faculty, and adjunct training through annual awards.

Form 990, Part XI, Line 9

Change in value - charitable remainder trusts -273,679 special event expenses reported net of event revenue 23,081 special event expenses reported net of event revenue -23,081 change in value - charitable remainder trusts 0 total -273,679

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

The foundation's endowment consists of approximately 70 individual donor-restricted funds established for a variety of purposes. The percentage reported for permanent endowments includes amounts that must be maintained in perpetuity as well as accumulated earnings on such amounts that have not yet been appropriated for expenditure.

Schedule D, Page 3, Part X

The foundation is exempt from federal income taxes under section 501(c) (3)of the irs. Exempt organizations, however, may be subject to income tax on urelated business income. The foundation had minimal income from business activities in 2022 and 2021 and was therefore, not required to file federal form 990-t(exempt organization business income tax return). The foundation believes that it has appropriate support for all tax positions taken, and as such, does not have any uncertain tax posistions that are material to the financial statements.

Schedule D, Page 4, Part XI, Line 2D

Change in value - charitable remainder trusts -273,679 special event expenses reported net of event revenue 23,081

Schedule D, Page 4, Part XII, Line 2D

Special event expenses reported net of event revenue 23,081

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Document Assets

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Filings

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