Civic Intelligence

Central Carolina Technical College Foundation Inc.

990 • Fiscal year 2019 • EIN 57-0686853

Jul 01, 2018 to Jun 30, 2019 • Filed on Dec 12, 2019

Organization ProfileWWW.CCTECH.EDU/ABOUT/CCTC-FOUNDATION
506 N Guignard DrSumter, SC 29150

(803) 778-6646

Siviq Scores

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

Liabilities / Assets

16th percentile

0.00x

Higher debt load relative to assets than 16% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

18th percentile

0.00x

Higher debt load relative to revenue than 18% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

77th percentile

20%

Higher net margin than 77% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

50th percentile

2.8%

Faster asset growth than 50% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

72nd percentile

17%

Faster revenue growth than 72% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets16th percentile

Assets

Up

$1,759,798

Up $48,562 (+2.8%) from 2018

Net Assets

Up

$1,759,238

Up $48,002 (+2.8%) from 2018

Liabilities

Up

$560

Up $560 from 2018

Revenue And Expenses
Liabilities / Revenue18th percentileNet Margin77th percentile

Revenue

Up

$301,587

Up $44,500 (+17%) from 2018

Expenses

Up

$242,350

Up $34,415 (+17%) from 2018

Net Income

Up

$59,237

Up $10,085 (+21%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth50th percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,388,831Liabilities 2011: $0Net Assets 2011: $1,388,8312011Assets 2012: $1,325,580Liabilities 2012: $0Net Assets 2012: $1,325,5802012Assets 2013: $1,395,811Liabilities 2013: $0Net Assets 2013: $1,395,8112013Assets 2014: $1,521,670Liabilities 2014: $0Net Assets 2014: $1,521,6702014Assets 2015: $1,527,315Liabilities 2015: $0Net Assets 2015: $1,527,3152015Assets 2016: $1,537,627Liabilities 2016: $0Net Assets 2016: $1,537,6272016Assets 2017: $1,674,280Liabilities 2017: $0Net Assets 2017: $1,674,2802017Assets 2018: $1,711,236Liabilities 2018: $0Net Assets 2018: $1,711,2362018Assets 2019: $1,759,798Liabilities 2019: $560Net Assets 2019: $1,759,2382019Assets 2020: $1,664,836Liabilities 2020: $0Net Assets 2020: $1,664,8362020Assets 2021: $2,056,390Liabilities 2021: $10,000Net Assets 2021: $2,046,3902021Assets 2022: $1,960,756Liabilities 2022: $3,941Net Assets 2022: $1,956,8152022Assets 2023: $2,296,352Liabilities 2023: $132Net Assets 2023: $2,296,2202023Assets 2024: $2,624,263Liabilities 2024: $51,000Net Assets 2024: $2,573,2632024

Highlighted filing

2019

Assets$1,759,798
Liabilities$560
Net Assets$1,759,238
Open 2019 Filing

Operations Trend

Revenue Growth72nd percentile

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

$600K$400K$200K$0-$200KExpenses 2011: $119,7282011Revenue 2012: $291,912Expenses 2012: $160,281Net Income 2012: $131,6312012Revenue 2013: $169,940Expenses 2013: $154,246Net Income 2013: $15,6942013Revenue 2014: $314,027Expenses 2014: $188,168Net Income 2014: $125,8592014Revenue 2015: $264,804Expenses 2015: $185,912Net Income 2015: $78,8922015Revenue 2016: $321,853Expenses 2016: $214,280Net Income 2016: $107,5732016Revenue 2017: $290,427Expenses 2017: $260,970Net Income 2017: $29,4572017Revenue 2018: $257,087Expenses 2018: $207,935Net Income 2018: $49,1522018Revenue 2019: $301,587Expenses 2019: $242,350Net Income 2019: $59,2372019Revenue 2020: $139,498Expenses 2020: $236,267Net Income 2020: -$96,7692020Revenue 2021: $266,555Expenses 2021: $183,426Net Income 2021: $83,1292021Revenue 2022: $579,038Expenses 2022: $254,066Net Income 2022: $324,9722022Revenue 2023: $352,729Expenses 2023: $210,092Net Income 2023: $142,6372023Revenue 2024: $394,014Expenses 2024: $268,446Net Income 2024: $125,5682024

Highlighted filing

2019

Revenue$301,587
Expenses$242,350
Net Income$59,237
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Dec 12, 2019
Return Version
2018v3.2
Gross Receipts
$689,753
Mission and Program Overview

Mission

The primary purposes of the foundation is to provide educational opportunities through acquisition of funds for scholarship awards; support the utilization of the latest technologies in up-to-date facilities and to subsidize the growth and developement of college faculty and staff.

To provide scholarships for students attending central carolina technical college and educational resources to the college and faculty, as well as funds for special projects where specific need arise.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,634,341$1,720,661▲ $86,320
Savings and Temporary Cash Investments$73,270$35,512▼ $37,758
Land, Buildings, and Equipment, Net$3,625$3,625→ $0
Total Assets$1,711,236$1,759,798▲ $48,562
Liabilities
Accounts Payable and Accrued Expenses-$560-
Total Liabilities$0$560▲ $560
Net Assets / Fund Balance
Unrestricted Net Assets$888,588$916,402▲ $27,814
Temporarily Rstr Net Assets$405,740$425,928▲ $20,188
Permanently Rstr Net Assets$416,908$416,908→ $0
Total Net Assets Fund Balance$1,711,236$1,759,238▲ $48,002
Total Liabilities and Net Assets / Fund Balance$1,711,236$1,759,798▲ $48,562

Asset Categories

AssetBook ValueDepreciationBasis
Land$3,625-$3,625
Compensation and Service Providers
Top Officer Pay36th percentile

Board Members and Trustees

NameTitle
Dr Scott D BrownChairman
Ruby D GibbsVice Chair
Terry M HancockTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$159,563
Program Service Revenue
$0
Investment Income
$113,422
Other Revenue
$28,602
All Other Contributions
$31,250
Change in Net Assets
$59,237

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table1$31,250
Total Noncash Contributions1$31,250

Audited Revenue Reconciliation

Revenue per Audited Statements
$301,587
Revenue Not Reported on Form 990
$29,062
Total Revenue per Audited Statements
$330,649
Total Revenue per Form 990
$301,587
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$242,350
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$31,250$19,744-$19,744
Fees for Service Investment Mgmnt Fees-$17,071-$17,071
Fees for Services Accounting-$8,180-$8,180
All Other Expenses$1,794--$1,794
Total Functional Expenses$197,355$44,995$0$242,350

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$282,647
Expenses per Audited Statements$242,350
Total Expenses per Form 990$242,350
Expenses Not Reported on Form 990$40,297
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$37,649
Fundraising Direct Expenses$9,047
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tourney$37,649$37,649$9,047$28,602
Total Events$37,649$37,649$9,047$28,602
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
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
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 7A

“New members are recommended by the executive committee and approved by a majority of the voting members. Ex officio (non-voting) members shall include (1) member of the central carolina technical college area commission designated by the board, the college president, and the foundation executive director.”

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

“Return reviewed and approved by the executive and finance comittee prior to filing.”

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

“The executive director and executive committee review all conflict of interest statements annually”

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

“The foundation has no paid employees however if an employee was to be hired by the foundation the compensation would be approved by the executive committee and recommended to the full board for final approval.”

Form 990, Page 6, Part VI, Line 18

“Form 990 provided upon request”

Form 990, Page 6, Part VI, Line 19

“Bylaws provided upon request”

Filing and Contact Details

Filer

Filer Name
Central Carolina Technical College
EIN
57-0686853
Phone
8037786646
Address
506 N GUIGNARD DR, SUMTER, SC 29150

Signing Officer

Name
Terry M Hancock
Title
Treasurer
Phone
8037786641
Signed
2019-12-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Terry M Hancock
Formed
1977
Legal Domicile
Sc
Voting Board Members
16
Independent Board Members
16
Employees
0

Preparer

Firm
Burkett Burkett & Burkett Cpas Pa
Address
PO BOX 2044, WEST COLUMBIA, SC 29171
Preparer
Larry D Montague Jr CPA
Phone
8037943712
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item B

“Two accounts were miscoded resulting the management and general expenses being overstated by 66,935 and program service being understated by 66,935. This change only affected form 990 part ix lines 24b 35,685 and 24c 31,250. The error was discovered on the subsequent audit of the foundation.”

FORM 990 - ORGANIZATION'S MISSION

“The primary purposes of the foundation is to provide educational opportunities through acquisition of funds for scholarship awards; support the utilization of the latest technologies in up-to-date facilities and to subsidize the growth and developement of college faculty and staff.”

Form 990, Page 1, Part I, Line 6

“No benefits are provided to board members by the foundation or the coollege”

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

“The primary purposes of the foundation is to provide educational”

Form 990, Part XI, Line 9

“Golf tournament gross up 9,047 golf tournament gross up -9,047”

Financial Statement Notes

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

“Golf tournament gross up 9,047”

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

“Golf tournament gross up 9,047”

Raw XML Appendix374 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1GOLF TOURNAMENT GROSS UP 9,047
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TWO ACCOUNTS WERE MISCODED RESULTING THE MANAGEMENT AND GENERAL EXPENSES BEING OVERSTATED BY 66,935 AND PROGRAM SERVICE BEING UNDERSTATED BY 66,935. THIS CHANGE ONLY AFFECTED FORM 990 PART IX LINES 24B 35,685 AND 24C 31,250. THE ERROR WAS DISCOVERED ON THE SUBSEQUENT AUDIT OF THE FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PRIMARY PURPOSES OF THE FOUNDATION IS TO PROVIDE EDUCATIONAL OPPORTUNITIES THROUGH ACQUISITION OF FUNDS FOR SCHOLARSHIP AWARDS; SUPPORT THE UTILIZATION OF THE LATEST TECHNOLOGIES IN UP-TO-DATE FACILITIES AND TO SUBSIDIZE THE GROWTH AND DEVELOPEMENT OF COLLEGE FACULTY AND STAFF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO BENEFITS ARE PROVIDED TO BOARD MEMBERS BY THE FOUNDATION OR THE COOLLEGE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PRIMARY PURPOSES OF THE FOUNDATION IS TO PROVIDE EDUCATIONAL
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NEW MEMBERS ARE RECOMMENDED BY THE EXECUTIVE COMMITTEE AND APPROVED BY A MAJORITY OF THE VOTING MEMBERS. EX OFFICIO (NON-VOTING) MEMBERS SHALL INCLUDE (1) MEMBER OF THE CENTRAL CAROLINA TECHNICAL COLLEGE AREA COMMISSION DESIGNATED BY THE BOARD, THE COLLEGE PRESIDENT, AND THE FOUNDATION EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5RETURN REVIEWED AND APPROVED BY THE EXECUTIVE AND FINANCE COMITTEE PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE EXECUTIVE DIRECTOR AND EXECUTIVE COMMITTEE REVIEW ALL CONFLICT OF INTEREST STATEMENTS ANNUALLY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE FOUNDATION HAS NO PAID EMPLOYEES HOWEVER IF AN EMPLOYEE WAS TO BE HIRED BY THE FOUNDATION THE COMPENSATION WOULD BE APPROVED BY THE EXECUTIVE COMMITTEE AND RECOMMENDED TO THE FULL BOARD FOR FINAL APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8FORM 990 PROVIDED UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9BYLAWS PROVIDED UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10GOLF TOURNAMENT GROSS UP 9,047 GOLF TOURNAMENT GROSS UP -9,047
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, ITEM B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BusinessOfficerGrp/SignatureDt02019-12-12
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ReturnHeader/FilingSecurityInformation/IPTm015:18:48
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ReturnHeader/PreparerPersonGrp/PreparationDt02020-08-23
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ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$1,759,798
Liabilities
$560
Net assets
$1,759,238
Revenue
$301,587
Expenses
$242,350
Net income
$59,237
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.62$0.05$2.57$0.39$0.27$0.13
2023Detailed filing. Detailed filing data is available for this year.$2.30$0.00$2.30$0.35$0.21$0.14
2022Detailed filing. Detailed filing data is available for this year.$1.96$0.00$1.96$0.58$0.25$0.32
2021Detailed filing. Detailed filing data is available for this year.$2.06$0.01$2.05$0.27$0.18$0.08
2020Detailed filing. Detailed filing data is available for this year.$1.66$0.00$1.66$0.14$0.24$0.10
2019Detailed filing. Detailed filing data is available for this year.$1.76$0.00$1.76$0.30$0.24$0.06
2018Detailed filing. Detailed filing data is available for this year.$1.71$0.00$1.71$0.26$0.21$0.05
2017Detailed filing. Detailed filing data is available for this year.$1.67$0.00$1.67$0.29$0.26$0.03
2016Detailed filing. Detailed filing data is available for this year.$1.54$0.00$1.54$0.32$0.21$0.11
2015Detailed filing. Detailed filing data is available for this year.$1.53$0.00$1.53$0.26$0.19$0.08
2014Detailed filing. Detailed filing data is available for this year.$1.52$0.00$1.52$0.31$0.19$0.13
2013Summary only. Only limited summary data is available for this year.$1.40$0.00$1.40$0.17$0.15$0.02
2012Summary only. Only limited summary data is available for this year.$1.33$0.00$1.33$0.29$0.16$0.13
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.39$0.00$1.39$0.12