Civic Intelligence

Owensboro Community and Technical College Foundation Inc.

990 • Fiscal year 2022 • EIN 61-1109704

Jul 01, 2021 to Jun 30, 2022 • Filed on May 11, 2023

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.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

8th percentile

0.00x

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

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

65th percentile

15%

Higher net margin than 65% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

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.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

18th percentile

-11%

Faster asset growth than 18% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

44th percentile

1.4%

Faster revenue growth than 44% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets8th percentile

Assets

Down

$5,382,290

Down $632,514 (-11%) from 2021

Net Assets

Down

$5,382,290

Down $632,514 (-11%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue8th percentileNet Margin65th percentile

Revenue

Up

$461,999

Up $6,528 (+1.4%) from 2021

Expenses

Up

$390,779

Up $66,566 (+21%) from 2021

Net Income

Down

$71,220

Down $60,038 (-46%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth18th 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

2022

Assets$5,382,290
Liabilities$0
Net Assets$5,382,290
Open 2022 Filing

Operations Trend

Revenue Growth44th 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

2022

Revenue$461,999
Expenses$390,779
Net Income$71,220
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 11, 2023
Return Version
2021v4.2
Gross Receipts
$461,999
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$5,205,854$4,562,725▼ $643,129
Cash and Non-Interest-Bearing Accounts$607,765$636,418▲ $28,653
Land, Buildings, and Equipment, Net$135,831$128,951▼ $6,880
Pledges and Grants Receivable$26,719$14,660▼ $12,059
Other Notes and Loans Receivable, Net$4,877$5,380▲ $503
Prepaid Expenses and Deferred Charges$2,100$2,498▲ $398
Total Assets$6,014,804$5,382,290▼ $632,514
Other Assets Total$31,658$31,658→ $0
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$5,670,469$5,024,190▼ $646,279
Net Assets Without Donor Restrictions$344,335$358,100▲ $13,765
Total Net Assets Fund Balance$6,014,804$5,382,290▼ $632,514
Total Liabilities and Net Assets / Fund Balance$6,014,804$5,382,290▼ $632,514

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$103,951$62,244$166,195
Land$25,000-$25,000

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$5,158,432$15,050▼ $643,689$732$4,493,657
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
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
Brandon GillesBoard Member
David M JohnsonBoard Member
Jeannette WardBoard Member
Jeff RiceBoard Member
Joseph W TaylorBoard Member
Kay CoomesBoard Member
Michael FiorellaBoard Member
Sharla WellsBoard Member
Tom WatsonBoard Member
Bernadette Toye HaleDirector of Public Relatio
Michael RodgersExecutive Director
Dr Veena SallanSecretary
Scott L ClayTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$383,286
Program Service Revenue
$20,917
Investment Income
$57,796
Other Revenue
$0
All Other Contributions
$372,627
Change in Net Assets
$71,220

Audited Revenue Reconciliation

Revenue per Audited Statements
$457,091
Revenue Not Reported on Financial Statements
$4,908
Revenue Not Reported on Form 990
$-703,734
Other Revenue Adjustments
$4,908
Total Revenue per Audited Statements
$-246,643
Total Revenue per Form 990
$461,999
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$337,335
Other Expenses$53,444
Total Fundraising Expense$20,761
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$222,456--$222,456
Grants to Domestic Individuals$114,879--$114,879
Advertising-$4,300$20,761$25,061
Depreciation Depletion-$6,880-$6,880
Office Expenses-$5,652-$5,652
Fees for Services Accounting-$5,000-$5,000
Fees for Service Investment Mgmnt Fees-$4,908-$4,908
Insurance-$3,481-$3,481
Occupancy-$1,613-$1,613
Conferences and Meetings-$429-$429
Other Expenses-$420-$420
Total Functional Expenses$337,335$32,683$20,761$390,779

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$390,779
Expenses per Audited Statements$385,871
Total Expenses per Audited Statements$385,871
Expenses Not Reported on Financial Statements$4,908
Other Expense Adjustments$4,908
Expenses Not Reported on Form 990$0
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.$222,456
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
2023-05-11

Organization Details

Principal Officer
Michael D Rodgers
Formed
1986
Legal Domicile
Ky
Voting Board Members
18
Independent Board Members
14
Employees
0
Volunteers
0
Supplemental Narrative

Additional Explanations

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:

“Explanation: the 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, 2022 and 2021, 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, 2022 and 2021, 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 4,908.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Investment management fees netted against audit revenues 4,908.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13COLLEGE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt14EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR OF PUBLIC RELATIO
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD MEMBER
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IRS990/FundraisingGrossIncomeAmt00
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IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt01613
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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt05652
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IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
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IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
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IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02100
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02498
IRS990/PrincipalOfficerNm0MICHAEL D RODGERS
IRS990/ProfessionalFundraisingInd00
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IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0370124
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IRS990/PYSalariesCompEmpBnftPaidAmt00
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IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0455471
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt071220
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
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IRS990/ReportLandBuildingEquipmentInd01
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IRS990/ReportProgramRelatedInvstInd00
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IRS990ScheduleA/PublicSupportPY170Pct00.64060
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IRS990ScheduleA/SubstantialContributorsTotAmt0508914
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IRS990ScheduleA/TotalSupportAmt02361805
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IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.00091
IRS990ScheduleD/BuildingsGrp/BookValueAmt0103951
IRS990ScheduleD/BuildingsGrp/DepreciationAmt062244
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0166195
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IRS990ScheduleD/EndowmentsHeldRelatedOrgInd01

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$5,382,290
Liabilities
$0
Net assets
$5,382,290
Revenue
$461,999
Expenses
$390,779
Net income
$71,220
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
2022Detailed filing. Detailed filing data is available for this year.$5.38$0.00$5.38$0.46$0.39$0.07
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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