Civic Intelligence

Drake State Technical College Foundation Inc.

990 • Fiscal year 2022 • EIN 63-1002142

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 18, 2023

Organization ProfileDRAKESTATE.EDU/ABOUT/DRAKE-STATE-FOUNDATION
3421 Meridian Street NHuntsville, AL 35811

(256) 319-4920

Siviq Scores

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

Liabilities / Assets

58th percentile

0.00x

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

58th percentile

0.00x

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

92nd percentile

61%

Higher net margin than 92% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Balance Sheet
Liabilities / Assets58th percentile

Assets

$311,737

No earlier filing loaded for comparison.

Net Assets

$311,737

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin92nd percentile

Revenue

$229,288

No earlier filing loaded for comparison.

Expenses

$88,860

No earlier filing loaded for comparison.

Net Income

$140,428

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$2.0M$1.5M$1.0M$500K$0Assets 2022: $311,737Liabilities 2022: $0Net Assets 2022: $311,7372022Assets 2023: $384,250Liabilities 2023: $0Net Assets 2023: $384,2502023Assets 2024: $1,520,937Liabilities 2024: $0Net Assets 2024: $1,520,9372024

Highlighted filing

2022

Assets$311,737
Liabilities$0
Net Assets$311,737
Open 2022 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.5M$1.0M$500K$0Revenue 2022: $229,288Expenses 2022: $88,860Net Income 2022: $140,4282022Revenue 2023: $319,840Expenses 2023: $248,315Net Income 2023: $71,5252023Revenue 2024: $1,276,821Expenses 2024: $140,134Net Income 2024: $1,136,6872024

Highlighted filing

2022

Revenue$229,288
Expenses$88,860
Net Income$140,428
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 18, 2023
Return Version
2022v5.0
Gross Receipts
$231,263
Mission and Program Overview

Mission

The foundation exists to raise and manage private resources supporting the mission and priorities of the college and to provide opportunities for students and a margin of institutional excellence not achievable with institutional funds alone. The foundation is dedicated to assisting the college in the building of an endowment, and in addressing, through financial support, the long-term academic and other priorities of the college.

To support the activities of drake community college.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$155,524$279,289▲ $123,765
Pledges and Grants Receivable$9,300$0▼ $9,300
Total Assets$164,824$311,737▲ $146,913
Other Assets Total$0$32,448▲ $32,448
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$159,924$201,987▲ $42,063
Net Assets With Donor Restrictions$4,900$109,750▲ $104,850
Total Net Assets Fund Balance$164,824$311,737▲ $146,913
Total Liabilities and Net Assets / Fund Balance$164,824$311,737▲ $146,913

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$32,448--
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
John MeredithPresident
Dr Beth B RichardsonVice President
Patricia SimsEx-officio Member
Alexis ToneyMember
Alka BhargavMember
Ambria LankfordMember
Anthony DanielsMember
Charlie BurrussMember
David PersonMember
Denetra Hartzog-mitchellMember
Dick ReevesMember
Karen Jones-smithMember
Latonya MumpfieldMember
Laura HallMember
Lori King-taylorMember
Mona MillerMember
Trista GladishMember
Van StricklandSecretary
Arin ZapfTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$206,758
Program Service Revenue
$0
Investment Income
$1,075
Other Revenue
$21,455
All Other Contributions
$157,008
Change in Net Assets
$140,428
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$49,000
Other Expenses$37,860
Total Fundraising Expense$21,943
Professional Fundraising Fees$2,000
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$49,000--$49,000
Fees for Services Accounting-$3,273-$3,273
Fees for Services Professional Fundraising--$2,000$2,000
Office Expenses-$1,327-$1,327
Interest-$696-$696
All Other Expenses$160$271$160$591
Other Expenses$177$177$177$531
Total Functional Expenses$60,990$5,927$21,943$88,860
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$23,430
Professional Fundraising Fees$2,000
Fundraising Direct Expenses$1,975

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Jazz in the Garden$23,430$23,430-$23,430
Total Events$23,430$23,430$1,975$21,455
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
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 a member of the executive committee before it is filed. Form 990 is then made available to the board members.”

Form 990, Part VI, Section C, Line 18

“Annual return shall be made available for inspection at the principal office of the foundation during regular business hours by any citizen on request made within 180 days after the publication of notice of the availability of such return.”

Form 990, Part VI, Section C, Line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Drake State Technical College Foundation
EIN
63-1002142
Phone
2563194920
Address
3421 MERIDIAN STREET N, HUNTSVILLE, AL 35811

Signing Officer

Name
Alexis Toney
Title
Treasurer
Phone
2568592500
Signed
2023-10-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alexis Toney
Formed
1989
Legal Domicile
Al
Voting Board Members
19
Independent Board Members
19
Employees
0
Volunteers
40

Preparer

Firm
Carr Riggs & Ingram LLC
Address
3700 COLONNADE PARKWAY SUITE 300, BIRMINGHAM, AL 35243
Preparer
David Compher
Phone
2059337822
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IRS990/OtherExpensesGrp/FundraisingAmt10
IRS990/OtherExpensesGrp/FundraisingAmt2183
IRS990/OtherExpensesGrp/FundraisingAmt3177
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt00
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1183
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2177
IRS990/OtherExpensesGrp/ProgramServicesAmt011469
IRS990/OtherExpensesGrp/ProgramServicesAmt1184
IRS990/OtherExpensesGrp/ProgramServicesAmt2177
IRS990/OtherExpensesGrp/TotalAmt019423
IRS990/OtherExpensesGrp/TotalAmt111469
IRS990/OtherExpensesGrp/TotalAmt2550
IRS990/OtherExpensesGrp/TotalAmt3531
IRS990/PartialLiquidationInd00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt09300
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0ALEXIS TONEY
IRS990/PriorPeriodAdjustmentsAmt010000
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0134026
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt030257
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt085769
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt048257
IRS990/PYTotalProfFndrsngExpnsAmt018000
IRS990/PYTotalRevenueAmt0134026
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0140428
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0206758
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0206758
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0206758
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.24640
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt050953
IRS990ScheduleA/SubstantialContributorsTotAmt0155805
IRS990ScheduleA/ThirtyThrPctSuprtTestsPY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0206758
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0206758
IRS990ScheduleA/TotalSupportAmt0206758
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt032448
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DRAKE STATE ENDOWMENT FUND
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt032448
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt01975
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentEvent1Amt01975
IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentTotalEventsAmt01975
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0JAZZ IN THE GARDEN
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt023430
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt023430
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt023430
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt023430
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt021455
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt015000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt114000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt220000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0REGIONS ADM SCHOLARSHIP
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1TRUIST BANK GRANT
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt2MAZDA TOYOTA MANUFACTURING - GRANT
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc0EDUCATIONAL SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc1GRANT PROVIDED TTRANSPORTATION FOR STUDENTS FOR SCHOOL, INTERVIEWS, & INTERNSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc2TOTAL GRANT SPLIT BETWEEN 3 INSTRUCTORS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt06
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt1100
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt23
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc0COST
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc1COST
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc2COST
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BY A MEMBER OF THE EXECUTIVE COMMITTEE BEFORE IT IS FILED. FORM 990 IS THEN MADE AVAILABLE TO THE BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ANNUAL RETURN SHALL BE MADE AVAILABLE FOR INSPECTION AT THE PRINCIPAL OFFICE OF THE FOUNDATION DURING REGULAR BUSINESS HOURS BY ANY CITIZEN ON REQUEST MADE WITHIN 180 DAYS AFTER THE PUBLICATION OF NOTICE OF THE AVAILABILITY OF SUCH RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0164824
IRS990/TotalAssetsEOYAmt0311737
IRS990/TotalAssetsGrp/BOYAmt0164824
IRS990/TotalAssetsGrp/EOYAmt0311737
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0206758
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt021943
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt05927
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt060990
IRS990/TotalFunctionalExpensesGrp/TotalAmt088860
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$311,737
Liabilities
$0
Net assets
$311,737
Revenue
$229,288
Expenses
$88,860
Net income
$140,428
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.52$0.00$1.52$1.28$0.14$1.14
2023Detailed filing. Detailed filing data is available for this year.$0.38$0.00$0.38$0.32$0.25$0.07
2022Detailed filing. Detailed filing data is available for this year.$0.31$0.00$0.31$0.23$0.09$0.14