Civic Intelligence

Gateway Community and Technical College Foundation Inc.

990 • Fiscal year 2018 • EIN 61-1239550

Jul 01, 2017 to Jun 30, 2018 • Filed on May 08, 2019

Organization ProfileN/A
500 Technology RoadFlorence, KY 41042

(859) 442-1177

Siviq Scores

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

Liabilities / Assets

79th percentile

0.46x

Higher debt load relative to assets than 79% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

93rd percentile

3.03x

Higher debt load relative to revenue than 93% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

18th percentile

-13%

Higher net margin than 18% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

9th percentile

-14%

Faster asset growth than 9% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

88th percentile

49%

Faster revenue growth than 88% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets79th percentile

Assets

Down

$1,796,642

Down $294,405 (-14%) from 2017

Net Assets

Down

$978,921

Down $23,504 (-2.3%) from 2017

Liabilities

Down

$817,721

Down $270,901 (-25%) from 2017

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin18th percentile

Revenue

Up

$269,545

Up $89,234 (+49%) from 2017

Expenses

Down

$304,935

Down $427,504 (-58%) from 2017

Net Income

Up

-$35,390

Up $516,738 (+94%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth9th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $806,569Liabilities 2011: $53,418Net Assets 2011: $753,1512011Assets 2012: $958,086Liabilities 2012: $113,753Net Assets 2012: $844,3332012Assets 2013: $4,553,835Liabilities 2013: $2,924,279Net Assets 2013: $1,629,5562013Assets 2014: $7,381,944Liabilities 2014: $5,045,090Net Assets 2014: $2,336,8542014Assets 2015: $7,815,656Liabilities 2015: $5,804,237Net Assets 2015: $2,011,4192015Assets 2016: $2,581,373Liabilities 2016: $1,079,787Net Assets 2016: $1,501,5862016Assets 2017: $2,091,047Liabilities 2017: $1,088,622Net Assets 2017: $1,002,4252017Assets 2018: $1,796,642Liabilities 2018: $817,721Net Assets 2018: $978,9212018Assets 2019: $1,650,907Liabilities 2019: $815,989Net Assets 2019: $834,9182019Assets 2020: $1,581,327Liabilities 2020: $721,753Net Assets 2020: $859,5742020Assets 2021: $1,627,705Liabilities 2021: $789,861Net Assets 2021: $837,8442021Assets 2022: $3,740,118Liabilities 2022: $167,272Net Assets 2022: $3,572,8462022Assets 2023: $2,642,526Liabilities 2023: $149,117Net Assets 2023: $2,493,4092023Assets 2024: $1,653,654Liabilities 2024: $121,850Net Assets 2024: $1,531,8042024

Highlighted filing

2018

Assets$1,796,642
Liabilities$817,721
Net Assets$978,921
Open 2018 Filing

Operations Trend

Revenue Growth88th percentile

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

$4.0M$2.0M$0-$2.0MRevenue 2011: $876,390Expenses 2011: $116,821Net Income 2011: $759,5692011Revenue 2012: $181,530Expenses 2012: $99,396Net Income 2012: $82,1342012Revenue 2013: $1,198,372Expenses 2013: $479,167Net Income 2013: $719,2052013Revenue 2014: $922,747Expenses 2014: $359,965Net Income 2014: $562,7822014Revenue 2015: $226,988Expenses 2015: $561,086Net Income 2015: -$334,0982015Revenue 2016: -$70,666Expenses 2016: $435,987Net Income 2016: -$506,6532016Revenue 2017: $180,311Expenses 2017: $732,439Net Income 2017: -$552,1282017Revenue 2018: $269,545Expenses 2018: $304,935Net Income 2018: -$35,3902018Revenue 2019: $126,377Expenses 2019: $294,319Net Income 2019: -$167,9422019Revenue 2020: $408,644Expenses 2020: $383,317Net Income 2020: $25,3272020Revenue 2021: $548,941Expenses 2021: $639,271Net Income 2021: -$90,3302021Revenue 2022: $3,998,381Expenses 2022: $1,100,219Net Income 2022: $2,898,1622022Revenue 2023: $416,951Expenses 2023: $1,561,914Net Income 2023: -$1,144,9632023Revenue 2024: $559,970Expenses 2024: $1,595,876Net Income 2024: -$1,035,9062024

Highlighted filing

2018

Revenue$269,545
Expenses$304,935
Net Income-$35,390
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 8, 2019
Return Version
2017v2.2
Gross Receipts
$305,829
Mission and Program Overview

Mission

The gateway community and technical college foundation, inc. Was

The foundation was formed to stimulate voluntary financial support for gateway community and technical college.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,064,564$765,000▼ $299,564
Investments Other Securities$596,320$726,628▲ $130,308
Cash and Non-Interest-Bearing Accounts$415,590$295,401▼ $120,189
Prepaid Expenses and Deferred Charges$11,698$9,613▼ $2,085
Total Assets$2,091,047$1,796,642▼ $294,405
Other Assets Total$2,875--
Liabilities
Unsecured Notes Loans Payable$800,000$550,000▼ $250,000
Other Liabilities$184,681$168,605▼ $16,076
Escrow Account Liability$52,154$60,436▲ $8,282
Accounts Payable and Accrued Expenses$20,971$22,563▲ $1,592
Deferred Revenue$30,816$16,117▼ $14,699
Total Liabilities$1,088,622$817,721▼ $270,901
Net Assets / Fund Balance
Temporarily Rstr Net Assets$554,307$589,377▲ $35,070
Unrestricted Net Assets$448,118$389,544▼ $58,574
Total Net Assets Fund Balance$1,002,425$978,921▼ $23,504
Total Liabilities and Net Assets / Fund Balance$2,091,047$1,796,642▼ $294,405

Asset Categories

AssetBook ValueDepreciationBasis
Land$765,000--
Other Securities$726,628--
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Steve BrunsonChairman
Fernando FigueroaPresident
Jeanne SchroerVice Chair
Blevins BowlinDirector
Brent CooperDirector
David FleischerDirector
John NienaberDirector
Jordan HuizengaDirector
Ken PaulDirector
Kim HalbauerDirector
Laura LyonsDirector
Lori Ritchey-baldwinDirector
Mary Ann PietromonacoDirector
Maryanne McgowanDirector
Michael CarsonDirector
Michelle ReidDirector
Patrick HenshawDirector
Sharmili ReddyDirector
Shelley Funke FrommeyerDirector
Alice SparksEmeritus Director
Jeff EgerEmeritus Director
Jim ParsonsEmeritus Director
Lee FlischelEmeritus Director
Wade HalseyEmeritus Director
Amber DeckerExecutive Director
Norm DesmaraisSecretary
Beth Vice-crossTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$142,034
Program Service Revenue
$0
Investment Income
$78,991
Other Revenue
$48,520
All Other Contributions
$104,051
Change in Net Assets
$-35,390

Audited Revenue Reconciliation

Revenue per Audited Statements
$269,545
Revenue Not Reported on Form 990
$71,085
Total Revenue per Audited Statements
$340,630
Total Revenue per Form 990
$269,545
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$304,935
Total Fundraising Expense$49,325
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$129,130$0$36,284$165,414
Interest$51,201$100$0$51,301
Advertising$16,244$0$10,934$27,178
Fees for Services Accounting$0$9,216$0$9,216
Fees for Services Other$0$8,500$0$8,500
Insurance$3,660$3,229$0$6,889
Other Expenses$1$4,885$0$4,886
Depreciation Depletion$4,806$0$0$4,806
Fees for Services Management$3,507$0$0$3,507
Total Functional Expenses$220,980$34,630$49,325$304,935

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$304,935
Total Expenses per Audited Statements$304,935
Total Expenses per Form 990$304,935
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$79,204
Fundraising Direct Expenses$36,284
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Riverblast$79,204$79,204$36,284$42,920
Total Events$79,204$79,204$36,284$42,920
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Beth Vice-crossBoard MemberAccounting ServicesNo$1,216
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Incentive Plan Liability$168,605
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
No
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
Filing and Contact Details

Filer

Filer Name
Gateway Community & Technical College Foundation Inc
EIN
61-1239550
Phone
8594421177
Address
500 TECHNOLOGY ROAD, FLORENCE, KY 41042

Signing Officer

Name
Steve Brunson
Title
President
Phone
8594421177
Signed
2019-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steve Brunson
Formed
2003
Legal Domicile
Ky
Voting Board Members
25
Independent Board Members
25
Employees
0
Volunteers
22

Preparer

Firm
Van Gorder Walker & Company Inc
Address
3216 DIXIE HIGHWAY, ERLANGER, KY 41018
Preparer
Lori a Owen CPA
Phone
8594310700
Supplemental Narrative

Additional Explanations

Pt XII, Line 2C

“Finance committee of the board reviews and approves audit”

Pt VI, Line 11B

“Foundation finance committee reviews the 990, a cpa on the committee reivews in detail. The entire board has access to the 990 for review.”

Pt VI, Line 12C

“Foundation board are required, annually, to submit written conflict of interest disclosures.”

Form 990, Part IX, Line 24E

“Employee development 16763. 16763. 0. 0.”

Form 990, Part IX, Line 24E

“Building costs 17698. 17698. 0. 0.”

Form 990, Part IX, Line 24E

“Foundation projects 94669. 94669. 0. 0.”

Form 990, Part IX, Line 24E

“Fundraising expenses 36284. 0. 0. 36284.”

Financial Statement Notes

Pt IV, Line 1B

“The Foundation follows the provision of FASB ASC 740-10-50, "Income Taxes-Overall-Disclosure." FASB ASC 740-10-50 sets forth a recognition threshold and measurement attribute for financial statement recognition of positions taken or expected to be taken in income tax returns. FASB 740-1050 had no material impact on the Foundation's financial statements.”

Pt IV, Line 2B

“The foundation acts as a fiduciary for the allied health education center, which leases educational and training space from the foundation.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt21EMERITUS DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22EMERITUS DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23EMERITUS DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24EMERITUS DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt26EXECUTIVE DIRECTOR
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IRS990/ProgSrvcAccomActy2Grp/Desc0STUDENT ASSISTANCE - THE FOUNDATION PROVIDES FUNDS FOR DIRECT STUDENT ASSISTANCE THROUGH SPONSORSHIPS AND SCHOLARSHIPS. FINANCIAL ISSUES OFTEN ARE CITED AS BARRIERS TO COMPLETION AND THE FOUNDATION SUPPORTS STUDENTS SO THEY ARE ABLE TO STAY IN COLLEGE AND GRADUATE.
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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,796,642
Liabilities
$817,721
Net assets
$978,921
Revenue
$269,545
Expenses
$304,935
Net income
-$35,390
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.65$0.12$1.53$0.56$1.60$1.04
2023Detailed filing. Detailed filing data is available for this year.$2.64$0.15$2.49$0.42$1.56$1.14
2022Detailed filing. Detailed filing data is available for this year.$3.74$0.17$3.57$4.00$1.10$2.90
2021Detailed filing. Detailed filing data is available for this year.$1.63$0.79$0.84$0.55$0.64$0.09
2020Detailed filing. Detailed filing data is available for this year.$1.58$0.72$0.86$0.41$0.38$0.03
2019Detailed filing. Detailed filing data is available for this year.$1.65$0.82$0.83$0.13$0.29$0.17
2018Detailed filing. Detailed filing data is available for this year.$1.80$0.82$0.98$0.27$0.30$0.04
2017Detailed filing. Detailed filing data is available for this year.$2.09$1.09$1.00$0.18$0.73$0.55
2016Detailed filing. Detailed filing data is available for this year.$2.58$1.08$1.50$0.07$0.44$0.51
2015Detailed filing. Detailed filing data is available for this year.$7.82$5.80$2.01$0.23$0.56$0.33
2014Summary only. Only limited summary data is available for this year.$7.38$5.05$2.34$0.92$0.36$0.56
2013Summary only. Only limited summary data is available for this year.$4.55$2.92$1.63$1.20$0.48$0.72
2012Summary only. Only limited summary data is available for this year.$0.96$0.11$0.84$0.18$0.10$0.08
2011Summary only. Only limited summary data is available for this year.$0.81$0.05$0.75$0.88$0.12$0.76