Civic Intelligence

Volunteer State College Foundation

990 • Fiscal year 2020 • EIN 58-1863050

Jul 01, 2019 to Jun 30, 2020 • Filed on Feb 24, 2021

Organization ProfileWWW.VOLSTATE.EDU/FOUNDATION
1480 Nashville PikeGallatin, TN 37066

(615) 230-3506

Siviq Scores

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

Liabilities / Assets

13th percentile

0.00x

Higher debt load relative to assets than 13% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

14th percentile

0.02x

Higher debt load relative to revenue than 14% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

27th percentile

-4.0%

Higher net margin than 27% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

82nd percentile

$234,138

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 19.4% of source-year revenue.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

38th percentile

2.4%

Faster asset growth than 38% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

30th percentile

-8.9%

Faster revenue growth than 30% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets13th percentile

Assets

Up

$6,962,262

Up $160,098 (+2.4%) from 2019

Net Assets

Up

$6,942,162

Up $149,141 (+2.2%) from 2019

Liabilities

Up

$20,100

Up $10,957 (+120%) from 2019

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin27th percentile

Revenue

Down

$1,206,186

Down $117,510 (-8.9%) from 2019

Expenses

Down

$1,254,032

Down $54,250 (-4.1%) from 2019

Net Income

Down

-$47,846

Down $63,260 (-410%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth38th percentile

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

$10M$5.0M$0Assets 2011: $5,584,951Liabilities 2011: $10,114Net Assets 2011: $5,574,8372011Assets 2012: $5,688,245Liabilities 2012: $24,423Net Assets 2012: $5,663,8222012Assets 2013: $5,844,067Liabilities 2013: $5,469Net Assets 2013: $5,838,5982013Assets 2014: $6,198,715Liabilities 2014: $27,265Net Assets 2014: $6,171,4502014Assets 2015: $6,025,262Liabilities 2015: $23,877Net Assets 2015: $6,001,3852015Assets 2016: $5,648,317Liabilities 2016: $35,074Net Assets 2016: $5,613,2432016Assets 2017: $6,334,981Liabilities 2017: $13,155Net Assets 2017: $6,321,8262017Assets 2018: $6,593,724Liabilities 2018: $19,365Net Assets 2018: $6,574,3592018Assets 2019: $6,802,164Liabilities 2019: $9,143Net Assets 2019: $6,793,0212019Assets 2020: $6,962,262Liabilities 2020: $20,100Net Assets 2020: $6,942,1622020Assets 2021: $8,919,431Liabilities 2021: $8,778Net Assets 2021: $8,910,6532021Assets 2022: $7,824,270Liabilities 2022: $200,769Net Assets 2022: $7,623,5012022Assets 2023: $8,636,053Liabilities 2023: $2,700Net Assets 2023: $8,633,3532023Assets 2024: $9,861,601Liabilities 2024: $8,757Net Assets 2024: $9,852,8442024

Highlighted filing

2020

Assets$6,962,262
Liabilities$20,100
Net Assets$6,942,162
Open 2020 Filing

Operations Trend

Revenue Growth30th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $1,002,822Expenses 2011: $444,983Net Income 2011: $557,8392011Revenue 2012: $490,650Expenses 2012: $401,665Net Income 2012: $88,9852012Revenue 2013: $2,048,584Expenses 2013: $1,873,808Net Income 2013: $174,7762013Revenue 2014: $2,034,559Expenses 2014: $1,701,707Net Income 2014: $332,8522014Revenue 2015: $1,127,579Expenses 2015: $1,297,644Net Income 2015: -$170,0652015Revenue 2016: $938,883Expenses 2016: $1,322,272Net Income 2016: -$383,3892016Revenue 2017: $1,556,659Expenses 2017: $971,334Net Income 2017: $585,3252017Revenue 2018: $1,314,345Expenses 2018: $1,357,012Net Income 2018: -$42,6672018Revenue 2019: $1,323,696Expenses 2019: $1,308,282Net Income 2019: $15,4142019Revenue 2020: $1,206,186Expenses 2020: $1,254,032Net Income 2020: -$47,8462020Revenue 2021: $851,999Expenses 2021: $619,459Net Income 2021: $232,5402021Revenue 2022: $867,468Expenses 2022: $633,529Net Income 2022: $233,9392022Revenue 2023: $920,771Expenses 2023: $851,683Net Income 2023: $69,0882023Revenue 2024: $2,048,693Expenses 2024: $1,038,902Net Income 2024: $1,009,7912024

Highlighted filing

2020

Revenue$1,206,186
Expenses$1,254,032
Net Income-$47,846
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Feb 24, 2021
Return Version
2019v5.0
Gross Receipts
$1,805,969
Mission and Program Overview

Mission

To raise and administer funds to support the educational objectives of volunteer state community college and solicit the active involvement of all communities within our service area.

Provides scholarships; the foundation acts primarily as a fundraising organization to supplement the resources that are available to the volunteer state community college in support of its programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,858,810$6,342,494▲ $483,684
Savings and Temporary Cash Investments$841,871$541,376▼ $300,495
Pledges and Grants Receivable$84,754$62,606▼ $22,148
Prepaid Expenses and Deferred Charges$1,348--
Total Assets$6,802,164$6,962,262▲ $160,098
Other Assets Total$15,381$15,786▲ $405
Liabilities
Deferred Revenue$6,500$17,500▲ $11,000
Accounts Payable and Accrued Expenses$2,643$2,600▼ $43
Total Liabilities$9,143$20,100▲ $10,957
Net Assets / Fund Balance
Net Assets With Donor Restrictions$4,812,520$4,845,643▲ $33,123
Net Assets Without Donor Restrictions$1,980,501$2,096,519▲ $116,018
Total Net Assets Fund Balance$6,793,021$6,942,162▲ $149,141
Total Liabilities and Net Assets / Fund Balance$6,802,164$6,962,262▲ $160,098

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$5,825,985$7,760▲ $336,689$11,320$6,061,589
2018$5,500,507$36,035▲ $381,481$17,238$5,825,985
2017$5,133,183$32,865▲ $446,476$15,117$5,500,507
2016$4,706,238$15,305▲ $481,969$-10,666$5,133,183
2015$4,701,421$33,615▲ $45,740$9,238$4,706,238
Compensation and Service Providers
Top Officer Pay82nd percentile

Employees

NameTitleFull / Part TimeOtherTotal
Dr Jerry FaulknerExecutive Co-$234,138$234,138
Karen MitchellExecutive DiPT$113,420$113,420

Board Members and Trustees

NameTitle
Johnny C Garrett IvChair
Lori JohnsonVice Chair
Al BennettTrustee
Bill KempTrustee
Bob AtkinsTrustee
Brian SchnabelTrustee
David AmonetteTrustee
David Bate ParsonsTrustee
David GouldTrustee
Dewayne ScottTrustee
Dixie JonesTrustee
F William TaylorTrustee
Grace TomkinsTrustee
Jim HardingTrustee
Joann GravesTrustee
Katherine ArmstrongTrustee
Kee Bryant-mccormickTrustee
Mark CarterTrustee
Matt RickerTrustee
Ron HibbardTrustee
Ronald MayberryTrustee
Scott WettengelTrustee
Shirley ArrendaleTrustee
Stephen AndersonTrustee
Susan PeachTrustee
Tommy DeckerTrustee
Wade PowersTrustee
Daisy CaseyCampaign CHA
Andrew FinneyExecutive Co
David GregoryExecutive Co
Joanne WalkerExecutive Co
L K LannomExecutive Co
Richard RowlettExecutive Co
Steve ParkerExecutive Co
Susan High-mcauleyExecutive Co
We Buddy ShawExecutive Co
William L NicholsExecutive Co
Dr Jerry FaulknerExecutive Committee
Revenue and Support

Revenue Composition

Contributions and Grants
$953,363
Program Service Revenue
$0
Investment Income
$118,564
Other Revenue
$134,259
All Other Contributions
$416,537
Change in Net Assets
$-47,846

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 Table1$42,000Fair Market Value
Total Noncash Contributions1$42,000-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$654,084
Salaries, Compensation, and Employee Benefits$464,437
Other Expenses$135,511
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$654,084--$654,084
Other Salaries and Wages$276,175$48,737-$324,912
Other Employee Benefits$118,596$20,929-$139,525
Other Expenses$18,439$73,754-$92,193
Fees for Service Investment Mgmnt Fees-$43,318-$43,318
Total Functional Expenses$1,067,294$186,738$0$1,254,032
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Volunteer State Community CollegeGallatin, TNGovAnnual Campaign$488,187
Volunteer State Community CollegeGallatin, TNGovScholarships$143,016
Volunteer State Community CollegeGallatin, TNGovWarf Capital$22,881
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$175,627
Fundraising Direct Expenses$41,368
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Complete the Dr$58,069$55,069$17,184$37,885
Educate a Woman$53,705$51,205$3,778$47,427
Total Events$181,127$175,627$41,368$134,259
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
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

“Provided to executive board for review and full board notified copies are available upon request.”

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

“Required to sign disclosure form annually;regularly monitor compliance with the conflict of interest policy.”

Form 990, Page 6, Part VI, Line 19

“Documents are available upon request to foundation office.”

Filing and Contact Details

Filer

Filer Name
Volunteer State College Foundation
EIN
58-1863050
Phone
6152303506
Address
1480 NASHVILLE PIKE, GALLATIN, TN 37066

Signing Officer

Name
Karen Mitchell
Title
Executive Director
Phone
6152303505
Signed
2021-02-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karen Mitchell
Formed
1989
Legal Domicile
Tn
Voting Board Members
39
Independent Board Members
38
Employees
0
Volunteers
82

Preparer

Firm
Blankenship CPA Group Pllc
Address
917 CONFERENCE DR, GOODLETTSVILLE, TN 37072-2162
Preparer
Kristin a Walrond CPA
Phone
6158598800
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

“Endowment funds intended use is to provide scholarships.”

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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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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,962,262
Liabilities
$20,100
Net assets
$6,942,162
Revenue
$1,206,186
Expenses
$1,254,032
Net income
-$47,846
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$9.86$0.01$9.85$2.05$1.04$1.01
2023Detailed filing. Detailed filing data is available for this year.$8.64$0.00$8.63$0.92$0.85$0.07
2022Detailed filing. Detailed filing data is available for this year.$7.82$0.20$7.62$0.87$0.63$0.23
2021Detailed filing. Detailed filing data is available for this year.$8.92$0.01$8.91$0.85$0.62$0.23
2020Detailed filing. Detailed filing data is available for this year.$6.96$0.02$6.94$1.21$1.25$0.05
2019Detailed filing. Detailed filing data is available for this year.$6.80$0.01$6.79$1.32$1.31$0.02
2018Summary only. Only limited summary data is available for this year.$6.59$0.02$6.57$1.31$1.36$0.04
2017Detailed filing. Detailed filing data is available for this year.$6.33$0.01$6.32$1.56$0.97$0.59
2016Detailed filing. Detailed filing data is available for this year.$5.65$0.04$5.61$0.94$1.32$0.38
2015Summary only. Only limited summary data is available for this year.$6.03$0.02$6.00$1.13$1.30$0.17
2014Summary only. Only limited summary data is available for this year.$6.20$0.03$6.17$2.03$1.70$0.33
2013Summary only. Only limited summary data is available for this year.$5.84$0.01$5.84$2.05$1.87$0.17
2012Summary only. Only limited summary data is available for this year.$5.69$0.02$5.66$0.49$0.40$0.09
2011Summary only. Only limited summary data is available for this year.$5.58$0.01$5.57$1.00$0.44$0.56