Civic Intelligence

Central Carolina Technical College Foundation Inc.

990 • Fiscal year 2022 • EIN 57-0686853

Jul 01, 2021 to Jun 30, 2022 • Filed on Nov 15, 2022

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

22nd percentile

0.00x

Higher debt load relative to assets than 22% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

24th percentile

0.01x

Higher debt load relative to revenue than 24% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

91st percentile

56%

Higher net margin than 91% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

31st percentile

-4.7%

Faster asset growth than 31% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

92nd percentile

117%

Faster revenue growth than 92% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets22nd percentile

Assets

Down

$1,960,756

Down $95,634 (-4.7%) from 2021

Net Assets

Down

$1,956,815

Down $89,575 (-4.4%) from 2021

Liabilities

Down

$3,941

Down $6,059 (-61%) from 2021

Revenue And Expenses
Liabilities / Revenue24th percentileNet Margin91st percentile

Revenue

Up

$579,038

Up $312,483 (+117%) from 2021

Expenses

Up

$254,066

Up $70,640 (+39%) from 2021

Net Income

Up

$324,972

Up $241,843 (+291%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth31st 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

2022

Assets$1,960,756
Liabilities$3,941
Net Assets$1,956,815
Open 2022 Filing

Operations Trend

Revenue Growth92nd 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

2022

Revenue$579,038
Expenses$254,066
Net Income$324,972
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Nov 15, 2022
Return Version
2021v4.0
Gross Receipts
$645,028
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 educational opportunities via 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 needs arise.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,034,543$1,824,237▼ $210,306
Savings and Temporary Cash Investments$2,122$126,894▲ $124,772
Prepaid Expenses and Deferred Charges$16,100--
Accounts Receivable-$6,000-
Land, Buildings, and Equipment, Net$3,625$3,625→ $0
Total Assets$2,056,390$1,960,756▼ $95,634
Liabilities
Deferred Revenue$10,000--
Accounts Payable and Accrued Expenses-$3,941-
Total Liabilities$10,000$3,941▼ $6,059
Net Assets / Fund Balance
Net Assets With Donor Restrictions$932,573$1,207,400▲ $274,827
Net Assets Without Donor Restrictions$1,113,817$749,415▼ $364,402
Total Net Assets Fund Balance$2,046,390$1,956,815▼ $89,575
Total Liabilities and Net Assets / Fund Balance$2,056,390$1,960,756▼ $95,634

Asset Categories

AssetBook ValueDepreciationBasis
Land$3,625--
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Ruby D GibbsVice Chair
Brant TomlinsonBoard Member
Cary CokerBoard Member
Christopher LeeBoard Member
Dave SelfBoard Member
Dr Trevor IveyBoard Member
Hon Alfred Mae DrakefordBoard Member
Lauren ReederBoard Member
Lefford FateBoard Member
Meree McalisterBoard Member
Pelzer Walter Beasley IiiBoard Member
Rev George P Windley JrBoard Member
Rev Marion H NewtonBoard Member
Sherry WelleBoard Member
Sidney T IslerBoard Member
Terry HancockBoard Member
William CoxBoard Member
Robert EdwardsInterim Chai
Bruce SnipesSecretary
Roy M FakouryTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$433,749
Program Service Revenue
$0
Investment Income
$113,805
Other Revenue
$31,484
All Other Contributions
$433,749
Change in Net Assets
$324,972

Audited Revenue Reconciliation

Revenue per Audited Statements
$557,750
Revenue Not Reported on Financial Statements
$21,288
Revenue Not Reported on Form 990
$-359,635
Total Revenue per Audited Statements
$198,115
Total Revenue per Form 990
$579,038
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$254,066
Total Fundraising Expense$13,545
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Service Investment Mgmnt Fees-$21,288-$21,288
Fees for Services Accounting-$9,465-$9,465
Office Expenses-$4,674-$4,674
Other Expenses$2,430$20,343$13,545$2,430
Total Functional Expenses$184,751$55,770$13,545$254,066

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$287,690
Total Expenses per Form 990$254,066
Expenses per Audited Statements$232,778
Expenses Not Reported on Form 990$54,912
Expenses Not Reported on Financial Statements$21,288
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$53,996
Fundraising Direct Expenses$22,512
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tourney$41,202$41,202$9,976$31,226
Nurses Night$12,794$12,794$12,536$258
Total Events$53,996$53,996$22,512$31,484
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
Yes
Annual disclosure for covered persons
Yes
Audit committee
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 7A

“New board members are recommended by the executive committee and must be 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

“Form 990 and schedules reviewed and approved by the executive and finance committee 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. The college pays the salary of the individual who performs the duties of the executive director along with many other non-foundation duties as the college's vice president for institutional advancement. Additionally, the college pays the salary of the individual who performs the duties of the assistant director of the foundation and who performs many non-foundation duties for the college. 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
Roy M Fakoury
Title
Treasurer
Phone
8037786641
Signed
2022-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Roy M Fakoury
Formed
1977
Legal Domicile
Sc
Voting Board Members
20
Independent Board Members
20
Employees
0
Volunteers
20

Preparer

Firm
Burkett Burkett & Burkett Cpas Pa
Address
PO BOX 2044, WEST COLUMBIA, SC 29171
Preparer
Matthew P Hodges CPA
Phone
8037943712
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The primary purposes of the foundation are 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 development of college faculty and staff.”

Form 990, Page 1, Part I, Line 6

“The board members of the foundation are the major volunteers and no benefits are provided to board members by the foundation or the college (central carolina technical college, inc.)”

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

“The primary purposes of the foundation is to provide educational educational opportunities throught scholarships to student of central carolina technical college and provide additional support for the programs and staff development of the college.”

Form 990, Part XI, Line 9

“Golf tournament gross up 9,976 nurses night gross up 12,536 golf tournament gross up -9,976 nurses night gross up -12,536”

Financial Statement Notes

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

“Golf tournament gross up 9,976 nurses night gross up 12,536”

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

“Golf tournament gross up 9,976 nurses night gross up 12,536”

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IRS990/ProgSrvcAccomActyOtherGrp/Desc0THE PRIMARY PURPOSES OF THE FOUNDATION IS TO PROVIDE EDUCATIONAL EDUCATIONAL OPPORTUNITIES THROUGHT SCHOLARSHIPS TO STUDENT OF CENTRAL CAROLINA TECHNICAL COLLEGE AND PROVIDE ADDITIONAL SUPPORT FOR THE PROGRAMS AND STAFF DEVELOPMENT OF THE COLLEGE.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0GOLF TOURNAMENT GROSS UP 9,976 NURSES NIGHT GROSS UP 12,536
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1GOLF TOURNAMENT GROSS UP 9,976 NURSES NIGHT GROSS UP 12,536
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,960,756
Liabilities
$3,941
Net assets
$1,956,815
Revenue
$579,038
Expenses
$254,066
Net income
$324,972
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
Peer Organizations

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