Civic Intelligence

Owensboro Community and Technical College Foundation Inc.

990 • Fiscal year 2021 • EIN 61-1109704

Jul 01, 2020 to Jun 30, 2021 • Filed on May 12, 2022

Organization ProfileWWW.OCTC.KCTCS.EDU/GIVING/FOUNDATION.ASPX
4800 New Hartford RoadOwensboro, KY 42303

(270) 686-4503

Siviq Scores

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

Liabilities / Assets

8th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

8th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

73rd percentile

29%

Higher net margin than 73% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

74th percentile

23%

Faster asset growth than 74% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

77th percentile

45%

Faster revenue growth than 77% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets8th percentile

Assets

Up

$6,014,804

Up $1,133,385 (+23%) from 2020

Net Assets

Up

$6,014,804

Up $1,133,385 (+23%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue8th percentileNet Margin73rd percentile

Revenue

Up

$455,471

Up $141,519 (+45%) from 2020

Expenses

Up

$324,213

Up $47,606 (+17%) from 2020

Net Income

Up

$131,258

Up $93,913 (+251%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth74th percentile

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

$10M$5.0M$0Assets 2012: $1,948,541Liabilities 2012: $2,951Net Assets 2012: $1,945,5902012Assets 2013: $2,744,124Liabilities 2013: $59,442Net Assets 2013: $2,684,6822013Assets 2014: $3,165,163Liabilities 2014: $39,756Net Assets 2014: $3,125,4072014Assets 2015: $3,308,708Liabilities 2015: $31,865Net Assets 2015: $3,276,8432015Assets 2016: $3,412,507Liabilities 2016: $35,972Net Assets 2016: $3,376,5352016Assets 2017: $3,775,066Liabilities 2017: $10,380Net Assets 2017: $3,764,6862017Assets 2018: $4,242,382Liabilities 2018: $0Net Assets 2018: $4,242,3822018Assets 2019: $4,772,559Liabilities 2019: $0Net Assets 2019: $4,772,5592019Assets 2020: $4,881,419Liabilities 2020: $0Net Assets 2020: $4,881,4192020Assets 2021: $6,014,804Liabilities 2021: $0Net Assets 2021: $6,014,8042021Assets 2022: $5,382,290Liabilities 2022: $0Net Assets 2022: $5,382,2902022Assets 2023: $6,487,265Liabilities 2023: $0Net Assets 2023: $6,487,2652023Assets 2024: $7,644,610Liabilities 2024: $66Net Assets 2024: $7,644,5442024Assets 2025: $8,699,348Liabilities 2025: $66Net Assets 2025: $8,699,2822025

Highlighted filing

2021

Assets$6,014,804
Liabilities$0
Net Assets$6,014,804
Open 2021 Filing

Operations Trend

Revenue Growth77th percentile

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

$1.0M$500K$0Revenue 2012: $280,223Expenses 2012: $216,648Net Income 2012: $63,5752012Revenue 2013: $656,458Expenses 2013: $130,035Net Income 2013: $526,4232013Revenue 2014: $393,863Expenses 2014: $280,405Net Income 2014: $113,4582014Revenue 2015: $307,676Expenses 2015: $212,991Net Income 2015: $94,6852015Revenue 2016: $368,888Expenses 2016: $214,044Net Income 2016: $154,8442016Revenue 2017: $274,680Expenses 2017: $213,471Net Income 2017: $61,2092017Revenue 2018: $447,744Expenses 2018: $193,226Net Income 2018: $254,5182018Revenue 2019: $682,639Expenses 2019: $391,362Net Income 2019: $291,2772019Revenue 2020: $313,952Expenses 2020: $276,607Net Income 2020: $37,3452020Revenue 2021: $455,471Expenses 2021: $324,213Net Income 2021: $131,2582021Revenue 2022: $461,999Expenses 2022: $390,779Net Income 2022: $71,2202022Revenue 2023: $948,012Expenses 2023: $324,540Net Income 2023: $623,4722023Revenue 2024: $742,456Expenses 2024: $369,321Net Income 2024: $373,1352024Revenue 2025: $715,715Expenses 2025: $405,657Net Income 2025: $310,0582025

Highlighted filing

2021

Revenue$455,471
Expenses$324,213
Net Income$131,258
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 12, 2022
Return Version
2020v4.2
Gross Receipts
$455,471
Mission and Program Overview

Mission

The foundation is a nonprofit corporation formed to support the purposes and promote the further development of the owensboro community and technical college. The foundation's support comes primarily from contributions by individuals, businesses and local governments.

The octc foundation, inc. Is a nonprofit corporation formed to support the purposes and promote the further development of the owensboro community and technical college. The foundation's support comes primarily from individual, business and local government contributions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$4,155,428$5,205,854▲ $1,050,426
Cash and Non-Interest-Bearing Accounts$503,790$607,765▲ $103,975
Land, Buildings, and Equipment, Net$142,711$135,831▼ $6,880
Pledges and Grants Receivable$38,127$26,719▼ $11,408
Other Notes and Loans Receivable, Net$7,476$4,877▼ $2,599
Prepaid Expenses and Deferred Charges$2,229$2,100▼ $129
Total Assets$4,881,419$6,014,804▲ $1,133,385
Other Assets Total$31,658$31,658→ $0
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$4,573,038$5,670,469▲ $1,097,431
Net Assets Without Donor Restrictions$308,381$344,335▲ $35,954
Total Net Assets Fund Balance$4,881,419$6,014,804▲ $1,133,385
Total Liabilities and Net Assets / Fund Balance$4,881,419$6,014,804▲ $1,133,385

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$110,831$55,364$166,195
Land$25,000-$25,000

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$4,089,962$57,620▲ $1,058,028$567$5,158,432
2019$3,986,844$65,254▲ $99,250$9,936$4,089,962
2018$3,556,523$154,646▲ $316,810$6,321$3,986,844
2017$3,285,417$35,079▲ $283,219$18,472$3,556,523
2016$2,913,955$13,552▲ $376,594$2,451$3,285,417
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Steve GardnerChair
Dr Scott WilliamsCollege President
Amy JacksonVice Chair
Angie MorrisonBoard Member
Barry EmbryBoard Member
David M JohnsonBoard Member
Jeannette WardBoard Member
Jeff RiceBoard Member
Joseph W TaylorBoard Member
Kay CoomesBoard Member
Kyle EstesBoard Member
Loyd St JohnBoard Member
Michael FiorellaBoard Member
Seth SouthardBoard Member
Sharla WellsBoard Member
Tom WatsonBoard Member
Tommy BurroughBoard Member
Bernadette Toye HaleDirector of Public Relatio
Michael RodgersExecutive Director
Dr Veena SallanSecretary
Scott L ClayTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$370,124
Program Service Revenue
$20,917
Investment Income
$64,430
Other Revenue
$0
All Other Contributions
$367,062
Change in Net Assets
$131,258

Audited Revenue Reconciliation

Revenue per Audited Statements
$450,858
Revenue Not Reported on Financial Statements
$4,613
Revenue Not Reported on Form 990
$1,001,710
Other Revenue Adjustments
$4,613
Total Revenue per Audited Statements
$1,452,568
Total Revenue per Form 990
$455,471
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$282,753
Other Expenses$41,460
Total Fundraising Expense$12,393
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$163,122--$163,122
Grants to Domestic Individuals$119,631--$119,631
Advertising-$1,015$12,393$13,408
Depreciation Depletion-$6,880-$6,880
Fees for Services Accounting-$5,000-$5,000
Fees for Service Investment Mgmnt Fees-$4,613-$4,613
Office Expenses-$4,270-$4,270
Insurance-$3,651-$3,651
Occupancy-$3,070-$3,070
Conferences and Meetings-$568-$568
Total Functional Expenses$282,753$29,067$12,393$324,213

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$324,213
Expenses per Audited Statements$319,600
Total Expenses per Audited Statements$319,183
Expenses Not Reported on Financial Statements$4,613
Other Expense Adjustments$4,613
Expenses Not Reported on Form 990$-417
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Owensboro Community and Technical CollegeOwensboro, KY501(c)(3)The Foundation Supports the College Faculty Education, College Activity Funding, Purchase of Equipment, Funding Public Relations, Emergency Student Loans, and Student Scholarships.$163,122
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Professional Fundraising Fees$0
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
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Form 990 is reviewed by the executive director.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents and financial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
Owensboro Community and Technical
EIN
61-1109704
Phone
2706864503
Address
4800 NEW HARTFORD ROAD, OWENSBORO, KY 42303

Signing Officer

Name
Michael D Rodgers
Title
Executive Director
Phone
2706864503
Signed
2022-05-12

Organization Details

Principal Officer
Michael D Rodgers
Formed
1986
Legal Domicile
Ky
Voting Board Members
21
Independent Board Members
17
Employees
0
Volunteers
0
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“BAD DEBT RECOVERY 417.”

Part X11, Line 2C

“No changes were made in either the audit oversight process or selection process during the tax year.”

Financial Statement Notes

PART X, LINE 2:

“Owensboro community and technical college foundation, inc. Accounts for uncertain tax positions in accordance with asc topic 740, accounting for uncertainty in income taxes. Asc topic 740 addressses the determination of tax benefits under section 501(c)(3) of the internal revenue code. The organization is exempt from the payment of taxes on income other than net unrelated business income. No tax expense was recorded in the accompanying financial statements for the years ended june 30, 2021 and 2020, as there were no unrelated business activities. Asc 740-10, income taxes, provides guidance for reporting uncertainty in income taxes. The organization has performed an evaluation of uncertain tax positions for the years ended june 30, 2021 and 2020, and determined that no material uncertain tax positions qualify for either recognitition or disclosure in the financial statements.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Investment management fees netted against audit revenues 4,613.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“BAD DEBT RECOVERY -417.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Investment management fees netted against audit revenues 4,613.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
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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/TitleTxt18COLLEGE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt19EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR OF PUBLIC RELATIO
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IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
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IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
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IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/NetAssetsOrFundBalancesEOYAmt06014804
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IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt03070
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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt04270
IRS990/OfficeExpensesGrp/TotalAmt04270
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/PartialLiquidationInd00
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02229
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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,014,804
Liabilities
$0
Net assets
$6,014,804
Revenue
$455,471
Expenses
$324,213
Net income
$131,258
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$8.70$0.00$8.70$0.72$0.41$0.31
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.64$0.00$7.64$0.74$0.37$0.37
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.49$0.00$6.49$0.95$0.32$0.62
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.38$0.00$5.38$0.46$0.39$0.07
2021Detailed filing. Detailed filing data is available for this year.$6.01$0.00$6.01$0.46$0.32$0.13
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.88$0.00$4.88$0.31$0.28$0.04
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.77$0.00$4.77$0.68$0.39$0.29
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.24$0.00$4.24$0.45$0.19$0.25
2017Summary only. Only limited summary data is available for this year.$3.78$0.01$3.76$0.27$0.21$0.06
2016Summary only. Only limited summary data is available for this year.$3.41$0.04$3.38$0.37$0.21$0.15
2015Summary only. Only limited summary data is available for this year.$3.31$0.03$3.28$0.31$0.21$0.09
2014Summary only. Only limited summary data is available for this year.$3.17$0.04$3.13$0.39$0.28$0.11
2013Summary only. Only limited summary data is available for this year.$2.74$0.06$2.68$0.66$0.13$0.53
2012Summary only. Only limited summary data is available for this year.$1.95$0.00$1.95$0.28$0.22$0.06