Civic Intelligence

Gateway Community and Technical College Foundation Inc.

990 • Fiscal year 2020 • EIN 61-1239550

Jul 01, 2019 to Jun 30, 2020 • Filed on Oct 07, 2020

Organization ProfileN/A
500 Technology WayFlorence, 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.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

90th percentile

1.77x

Higher debt load relative to revenue than 90% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

52nd percentile

6.2%

Higher net margin than 52% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

17th percentile

-4.2%

Faster asset growth than 17% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

97th percentile

223%

Faster revenue growth than 97% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets79th percentile

Assets

Down

$1,581,327

Down $69,580 (-4.2%) from 2019

Net Assets

Up

$859,574

Up $24,656 (+3.0%) from 2019

Liabilities

Down

$721,753

Down $94,236 (-12%) from 2019

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin52nd percentile

Revenue

Up

$408,644

Up $282,267 (+223%) from 2019

Expenses

Up

$383,317

Up $88,998 (+30%) from 2019

Net Income

Up

$25,327

Up $193,269 (+115%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth17th 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

2020

Assets$1,581,327
Liabilities$721,753
Net Assets$859,574
Open 2020 Filing

Operations Trend

Revenue Growth97th 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

2020

Revenue$408,644
Expenses$383,317
Net Income$25,327
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Oct 7, 2020
Return Version
2019v5.1
Gross Receipts
$455,521
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$765,000$765,000→ $0
Investments Other Securities$771,819$695,736▼ $76,083
Cash and Non-Interest-Bearing Accounts$105,858$59,220▼ $46,638
Pledges and Grants Receivable-$36,918-
Prepaid Expenses and Deferred Charges$5,230--
Accounts Receivable$3,000--
Total Assets$1,650,907$1,581,327▼ $69,580
Other Assets Total-$24,453-
Liabilities
Unsecured Notes Loans Payable$550,000$550,000→ $0
Other Liabilities$150,900$131,441▼ $19,459
Escrow Account Liability$75,108$0▼ $75,108
Accounts Payable and Accrued Expenses$25,453$20,312▼ $5,141
Deferred Revenue$14,528$20,000▲ $5,472
Mortgage Notes Payable Secured by Investment Property$0--
Total Liabilities$815,989$721,753▼ $94,236
Net Assets / Fund Balance
Net Assets With Donor Restrictions$553,791$610,563▲ $56,772
Net Assets Without Donor Restrictions$281,127$249,011▼ $32,116
Total Net Assets Fund Balance$834,918$859,574▲ $24,656
Total Liabilities and Net Assets / Fund Balance$1,650,907$1,581,327▼ $69,580

Asset Categories

AssetBook ValueDepreciationBasis
Land$765,000--
Other Securities$695,736--
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
John NienaberChair of Advocacy
Maryanne McgowanChair of Nominating
Jordan HuizengaChair of Philanthropy
Steve BrunsonChairman
Brian DunhamVice Chair
Adam KresslerDirector
Anthony KellyDirector
Blevins BowlinDirector
Brent CooperDirector
DR FRANCIS O'HARADirector
David FleisherDirector
Dr Ande DurojaiyeDirector
Dr Fernando FigueroaDirector
Erik HermesDirector
Jamie ParsonsDirector
Maryann PietromonacoDirector
Michael CasonDirector
Michelle ReidDirector
Philippe GarnierDirector
Ron ChristianDirector
Sharmili ReddyDirector
Adrijana KowatschExecutive Director
Beth Vice-crossTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$380,270
Program Service Revenue
$0
Investment Income
$25,911
Other Revenue
$2,463
All Other Contributions
$380,270
Change in Net Assets
$25,327

Audited Revenue Reconciliation

Revenue per Audited Statements
$408,644
Revenue Not Reported on Form 990
$46,206
Total Revenue per Audited Statements
$454,850
Total Revenue per Form 990
$408,644
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$383,317
Total Fundraising Expense$1,613
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$310,254$0$1,613$311,867
Interest$41,419$0$0$41,419
Fees for Services Accounting$0$13,190$0$13,190
Other Expenses$2,940$0$0$2,940
Insurance$0$2,848$0$2,848
Total Functional Expenses$359,916$21,788$1,613$383,317

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$430,194
Expenses per Audited Statements$380,317
Total Expenses per Form 990$380,317
Expenses Not Reported on Form 990$49,877
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$49,340
Fundraising Direct Expenses$46,877
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Riverblast$65,529$49,340$46,877$2,463
Total Events$65,529$49,340$46,877$2,463
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$4,056
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Compensation to Former President$131,441
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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 WAY, FLORENCE, KY 41042

Signing Officer

Name
Beth Vice-cross
Title
Board Treasurer
Phone
8594421177
Signed
2020-10-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steve Brunson
Formed
2003
Legal Domicile
Ky
Voting Board Members
23
Independent Board Members
23
Employees
0
Volunteers
23

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 the audit; this process has not changed this year.”

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 prior to filing.”

Pt VI, Line 12C

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

Pt VI, Line 19

“The 990 is available for review upon request at gateway community college and technical center campus in florence, kentucky.”

Form 990, Part IX, Line 24E

“Property costs 1988. 1988. 0. 0.”

Form 990, Part IX, Line 24E

“Foundation projects 307195. 307195. 0. 0.”

Form 990, Part IX, Line 24E

“Fundraising 2684. 1071. 0. 1613.”

Financial Statement Notes

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

“At the beginning of the year, the foundation was acting as a fiduciary for the allied health education center, which leases educational and training space from the foundation. This arrangement ended during fy 2020.”

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/TitleTxt4CHAIR OF NOMINATING
IRS990/Form990PartVIISectionAGrp/TitleTxt5CHAIR OF ADVOCACY
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IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
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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/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
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IRS990/PoliticalCampaignActyInd0false
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IRS990/PrincipalOfficerNm0STEVE BRUNSON
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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
$1,581,327
Liabilities
$721,753
Net assets
$859,574
Revenue
$408,644
Expenses
$383,317
Net income
$25,327
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