Civic Intelligence

Dabney S Lancaster Community Colleg Real Estate Foundation

EIN 82-3149429 • 501(c)3 • Clifton Forge, VA

Profile

To support dabney s. Lancaster community college by purchasing and developing properties that will be used by the college for classroom spaces and training centers.

1000 College DriveClifton Forge, VA 24422

dslcc.edu/DSLCC-REAL-ESTATE-FOUNDATION

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

33rd percentile

0.00x

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

501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

34th percentile

0.00x

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

501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

97th percentile

87%

Higher net margin than 97% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

68th percentile

12%

Faster asset growth than 68% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

1st percentile

-86%

Faster revenue growth than 1% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Up

$3,739,786

Up $2,344,841 (+168%) from 2023

Liabilities

Up

$1,137,069

Up $1,137,069 from 2023

Net Assets

Up

$2,602,717

Up $1,207,772 (+87%) from 2023

Operations
Liabilities / Revenue34th percentileNet Margin97th percentile

Revenue

Up

$1,266,439

Up $806,059 (+175%) from 2023

Expenses

Up

$58,667

Up $40,169 (+217%) from 2023

Net Income

Up

$1,207,772

Up $765,890 (+173%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth68th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0Assets 2021: $849,901Liabilities 2021: $0Net Assets 2021: $849,9012021Assets 2022: $953,062Liabilities 2022: $0Net Assets 2022: $953,0622022Assets 2023: $1,394,945Liabilities 2023: $0Net Assets 2023: $1,394,9452023Assets 2024: $3,739,786Liabilities 2024: $1,137,069Net Assets 2024: $2,602,7172024

Highlighted filing

2024

Assets$3,739,786
Liabilities$1,137,069
Net Assets$2,602,717
Open 2024 Filing

Operations Trend

Revenue Growth1st percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0Revenue 2021: $854,274Expenses 2021: $5,098Net Income 2021: $849,1762021Revenue 2022: $117,921Expenses 2022: $14,760Net Income 2022: $103,1612022Revenue 2023: $460,380Expenses 2023: $18,498Net Income 2023: $441,8822023Revenue 2024: $1,266,439Expenses 2024: $58,667Net Income 2024: $1,207,7722024

Highlighted filing

2024

Revenue$1,266,439
Expenses$58,667
Net Income$1,207,772
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,739,786
Liabilities
$1,137,069
Net assets
$2,602,717
Revenue
$1,266,439
Expenses
$58,667
Net income
$1,207,772
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.74$1.14$2.60$1.27$0.06$1.21
2023Detailed filing. Detailed filing data is available for this year.$1.39$0.00$1.39$0.46$0.02$0.44
2022Detailed filing. Detailed filing data is available for this year.$0.95$0.00$0.95$0.12$0.01$0.10
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.85$0.00$0.85$0.85$0.01$0.85
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 8, 2024
Return Version
2023v5.0
Gross Receipts
$1,329,562
Mission and Program Overview

Mission

To support dabney s. Lancaster community college by purchasing and developing properties that will be used by the college for classroom spaces and training centers.

To support mountain gateway community college by purchasing and developing properties that will be rented by the college for use as classroom spaces and training centers.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$747,711-
Pledges and Grants Receivable$47,000$422,831▲ $375,831
Land, Buildings, and Equipment, Net-$171,610-
Cash and Non-Interest-Bearing Accounts$404,327$134,517▼ $269,810
Total Assets$1,394,945$3,739,786▲ $2,344,841
Other Assets Total$943,618$2,263,117▲ $1,319,499
Liabilities
Accounts Payable and Accrued Expenses-$623,268-
Mortgage Notes Payable Secured by Investment Property-$497,001-
Deferred Revenue-$16,800-
Total Liabilities$0$1,137,069▲ $1,137,069
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$927,857$2,473,651▲ $1,545,794
Net Assets With Donor Restrictions$467,088$129,066▼ $338,022
Total Net Assets Fund Balance$1,394,945$2,602,717▲ $1,207,772
Total Liabilities and Net Assets / Fund Balance$1,394,945$3,739,786▲ $2,344,841

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$148,748$3,914$152,662
Land$21,062-$21,062
Equipment$1,800$200$2,000
Other Assets Org$4,655--
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
K Kyle KeyserBoard Chair
Amy PhillipsEx-officio
John StoneEx-officio
Angela D GrahamPublic Direc
Donna P VaughnPublic Direc
Janie HarrisPublic Direc
Steve VaughnPublic Direc
Tony McfaddinPublic Direc
John J RainoneSecretary
Michelle AustinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,207,047
Program Service Revenue
$16,800
Investment Income
$42,592
Other Revenue
$0
All Other Contributions
$320,134
Change in Net Assets
$1,207,772

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,266,439
Total Revenue per Audited Statements
$1,266,439
Total Revenue per Form 990
$1,266,439
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$58,667
Total Fundraising Expense$142
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$20,532--$20,532
Interest$19,476--$19,476
Fees for Services Accounting-$7,650-$7,650
Fees for Services Other$4,578--$4,578
Depreciation Depletion$4,233--$4,233
Office Expenses-$2,056-$2,056
Advertising--$142$142
Total Functional Expenses$48,819$9,706$142$58,667

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$58,667
Total Expenses per Audited Statements$58,667
Total Expenses per Form 990$58,667
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
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
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The 990 was provided to the board chair and to the members of the fountation's board of directors for review. The board chair has the delegated authority from the board of directors to sign and file the 990 after the review process.”

Form 990, Page 6, Part VI, Line 12C

“Periodic reviews by the board of directors.”

Form 990, Page 6, Part VI, Line 19

“Upon request. Also, the virginia community college system makes the information accessible on its website.”

Form 990, Part VII

“Section a, line 1: dr. John rainone is the president of mountain gateway community college and is compensated by the college for his services as a college employee. He is also secretary of the foundation's board of directors but he receives no compensation for his services as a board member.”

Filing and Contact Details

Filer

Filer Name
Mountain Gateway Community College
EIN
82-3149429
Phone
5408632827
Address
1000 COLLEGE DRIVE, CLIFTON FORGE, VA 24422

Signing Officer

Name
John J Rainone
Title
Secretary
Phone
5408632827
Signed
2024-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
K Kyle Keyser
Formed
2019
Legal Domicile
Va
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
15

Preparer

Firm
Campbell & Lineberry Pc
Address
PO BOX 7979, ROANOKE, VA 24019
Preparer
Kristine M Bertholf
Phone
5407773770
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JOHN J RAINONE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0SECRETARY
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 WAS PROVIDED TO THE BOARD CHAIR AND TO THE MEMBERS OF THE FOUNTATION'S BOARD OF DIRECTORS FOR REVIEW. THE BOARD CHAIR HAS THE DELEGATED AUTHORITY FROM THE BOARD OF DIRECTORS TO SIGN AND FILE THE 990 AFTER THE REVIEW PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PERIODIC REVIEWS BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2UPON REQUEST. ALSO, THE VIRGINIA COMMUNITY COLLEGE SYSTEM MAKES THE INFORMATION ACCESSIBLE ON ITS WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SECTION A, LINE 1: DR. JOHN RAINONE IS THE PRESIDENT OF MOUNTAIN GATEWAY COMMUNITY COLLEGE AND IS COMPENSATED BY THE COLLEGE FOR HIS SERVICES AS A COLLEGE EMPLOYEE. HE IS ALSO SECRETARY OF THE FOUNDATION'S BOARD OF DIRECTORS BUT HE RECEIVES NO COMPENSATION FOR HIS SERVICES AS A BOARD MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VII
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