Civic Intelligence

Gateway Community and Technical College Foundation Inc.

990 • Fiscal year 2019 • EIN 61-1239550

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 20, 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

81st percentile

0.49x

Higher debt load relative to assets than 81% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

96th percentile

6.46x

Higher debt load relative to revenue than 96% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

2nd percentile

-133%

Higher net margin than 2% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

41st percentile

$34,800

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 27.5% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

14th percentile

-8.1%

Faster asset growth than 14% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

4th percentile

-53%

Faster revenue growth than 4% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets81st percentile

Assets

Down

$1,650,907

Down $145,735 (-8.1%) from 2018

Net Assets

Down

$834,918

Down $144,003 (-15%) from 2018

Liabilities

Down

$815,989

Down $1,732 (-0.2%) from 2018

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin2nd percentile

Revenue

Down

$126,377

Down $143,168 (-53%) from 2018

Expenses

Down

$294,319

Down $10,616 (-3.5%) from 2018

Net Income

Down

-$167,942

Down $132,552 (-375%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth14th 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

2019

Assets$1,650,907
Liabilities$815,989
Net Assets$834,918
Open 2019 Filing

Operations Trend

Revenue Growth4th 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

2019

Revenue$126,377
Expenses$294,319
Net Income-$167,942
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 20, 2019
Return Version
2018v3.1
Gross Receipts
$174,518
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
Investments Other Securities$726,628$771,819▲ $45,191
Land, Buildings, and Equipment, Net$765,000$765,000→ $0
Loans From Officers Directors$168,605$150,900▼ $17,705
Cash and Non-Interest-Bearing Accounts$295,401$105,858▼ $189,543
Prepaid Expenses and Deferred Charges$9,613$5,230▼ $4,383
Accounts Receivable-$3,000-
Total Assets$1,796,642$1,650,907▼ $145,735
Liabilities
Unsecured Notes Loans Payable$550,000$550,000→ $0
Escrow Account Liability$60,436$75,108▲ $14,672
Accounts Payable and Accrued Expenses$22,563$25,453▲ $2,890
Deferred Revenue$16,117$14,528▼ $1,589
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Total Liabilities$817,721$815,989▼ $1,732
Net Assets / Fund Balance
Temporarily Rstr Net Assets$589,377$553,791▼ $35,586
Unrestricted Net Assets$389,544$281,127▼ $108,417
Total Net Assets Fund Balance$978,921$834,918▼ $144,003
Total Liabilities and Net Assets / Fund Balance$1,796,642$1,650,907▼ $145,735

Asset Categories

AssetBook ValueDepreciationBasis
Land$765,000--
Other Securities$771,819--
Compensation and Service Providers
Top Officer Pay41st percentile

Employees

NameTitleOtherTotal
G Edward HughesFormer President$34,800$34,800
G Edward Hughes-$34,800$34,800

Board Members and Trustees

NameTitle
Steve BrunsonChairman
Fernando FigueroaPresident
Jeanne SchroerVice Chair
Anthony KellyDirector
Blevins BowlinDirector
Brent CooperDirector
Brian DunhamDirector
DR FRANCIS O'HARADirector
David FleischerDirector
Dr Julie Ann Smith-morrowDirector
Jamie ParsonsDirector
John NienaberDirector
Jordan HuizengaDirector
Laura LyonsDirector
Mary Ann PietromonacoDirector
Maryanne McgowanDirector
Michael CarsonDirector
Michelle ReidDirector
Sharmili ReddyDirector
Alice SparksEmeritus Director
Jeff EgerEmeritus Director
Jim ParsonsEmeritus Director
Lee FlischelEmeritus Director
Wade HalseyEmeritus Director
Adrijana KowatschExecutive Director
Norm DesmaraisSecretary
Beth Vice-crossTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$103,048
Program Service Revenue
$0
Investment Income
$21,500
Other Revenue
$1,829
All Other Contributions
$77,998
Change in Net Assets
$-167,942

Audited Revenue Reconciliation

Revenue per Audited Statements
$126,377
Revenue Not Reported on Form 990
$72,080
Total Revenue per Audited Statements
$198,457
Total Revenue per Form 990
$126,377
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$287,544
Professional Fundraising Fees$6,775
Total Fundraising Expense$6,775
Grants and Similar Amounts Paid$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$134,725$45,810$0$180,535
Interest$42,982$0$0$42,982
Other Expenses$35,736$0$0$35,736
Fees for Services Accounting$0$9,223$0$9,223
Fees for Services Professional Fundraising--$6,775$6,775
Insurance$0$3,128$0$3,128
Total Functional Expenses$222,881$64,663$6,775$294,319

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$342,460
Expenses per Audited Statements$294,319
Total Expenses per Form 990$294,319
Expenses Not Reported on Form 990$48,141
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$49,970
Fundraising Direct Expenses$48,141
Professional Fundraising Fees$6,775

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Riverblast$75,020$49,970$48,141$1,829
Total Events$75,020$49,970$48,141$1,829
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
G Edward HughesFormer College President2014 Incentive PlanNo$34,800
Beth Vice-crossBoard MemberAccounting ServicesNo$1,223

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$168,605$150,900▼ $17,705
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
Yes
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
Beth Vice-cross
Title
Board Treasurer
Phone
8594421177
Signed
2019-11-20
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

“Property costs 448. 448. 0. 0.”

Form 990, Part IX, Line 24E

“Foundation projects 104777. 104777. 0. 0.”

Form 990, Part IX, Line 24E

“Strategic plan consulting fee 45810. 0. 45810. 0.”

Form 990, Part IX, Line 24E

“Fundrasing 29500. 29500. 0. 0.”

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 XI, Line 2D

“The 990 shows fund raising revenue net of direct fund raising expenses. The foundation's financial statements show the revenue gross.”

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.”

Pt XII, Line 2D

“The 990 shows direct fund raising expense netted wtih the fund raising revenue. The foundation's financial statements show the expense in the statement of functional expenses as fundraising expense.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20EMERITUS DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21EMERITUS DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22EMERITUS DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23EMERITUS DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24EMERITUS DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt26EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt27FORMER PRESIDENT
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,650,907
Liabilities
$815,989
Net assets
$834,918
Revenue
$126,377
Expenses
$294,319
Net income
-$167,942
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