Civic Intelligence

Peninsula College Foundation

990 • Fiscal year 2023 • EIN 91-1589749

Jul 01, 2022 to Jun 30, 2023 • Filed on Sep 29, 2023

Organization ProfileWWW.PENCOL.EDU/FOUNDATION
1502 East Lauridsen BoulevardPort Angeles, WA 98362

(360) 417-6400

Siviq Scores

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

Liabilities / Assets

40th percentile

0.07x

Higher debt load relative to assets than 40% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

65th percentile

0.34x

Higher debt load relative to revenue than 65% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

85th percentile

35%

Higher net margin than 85% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

57th percentile

$142,259

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 9.0% of source-year revenue.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

65th percentile

11%

Faster asset growth than 65% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

55th percentile

8.7%

Faster revenue growth than 55% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets40th percentile

Assets

Up

$7,684,573

Up $792,180 (+11%) from 2022

Net Assets

Up

$7,146,488

Up $836,283 (+13%) from 2022

Liabilities

Down

$538,085

Down $44,103 (-7.6%) from 2022

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin85th percentile

Revenue

Up

$1,575,817

Up $126,746 (+8.7%) from 2022

Expenses

Up

$1,026,941

Up $172,102 (+20%) from 2022

Net Income

Down

$548,876

Down $45,356 (-7.6%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth65th percentile

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

$15M$10M$5.0M$0Assets 2010: $1,343,313Liabilities 2010: $0Net Assets 2010: $1,343,3132010Assets 2011: $1,406,899Liabilities 2011: $0Net Assets 2011: $1,406,8992011Assets 2012: $1,385,617Liabilities 2012: $0Net Assets 2012: $1,385,6172012Assets 2013: $1,622,782Liabilities 2013: $6,445Net Assets 2013: $1,616,3372013Assets 2014: $1,634,042Liabilities 2014: $5,525Net Assets 2014: $1,628,5172014Assets 2015: $1,607,194Liabilities 2015: $4,639Net Assets 2015: $1,602,5552015Assets 2016: $13,558,259Liabilities 2016: $62,884Net Assets 2016: $13,495,3752016Assets 2017: $11,805,957Liabilities 2017: $20Net Assets 2017: $11,805,9372017Assets 2018: $4,841,419Liabilities 2018: $536,612Net Assets 2018: $4,304,8072018Assets 2019: $5,814,902Liabilities 2019: $560,219Net Assets 2019: $5,254,6832019Assets 2020: $6,205,264Liabilities 2020: $621,486Net Assets 2020: $5,583,7782020Assets 2021: $7,388,665Liabilities 2021: $624,678Net Assets 2021: $6,763,9872021Assets 2022: $6,892,393Liabilities 2022: $582,188Net Assets 2022: $6,310,2052022Assets 2023: $7,684,573Liabilities 2023: $538,085Net Assets 2023: $7,146,4882023Assets 2024: $7,712,622Liabilities 2024: $609,639Net Assets 2024: $7,102,9832024Assets 2025: $8,529,788Liabilities 2025: $653,393Net Assets 2025: $7,876,3952025

Highlighted filing

2023

Assets$7,684,573
Liabilities$538,085
Net Assets$7,146,488
Open 2023 Filing

Operations Trend

Revenue Growth55th percentile

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

$15M$10M$5.0M$0-$5.0MExpenses 2010: $276,4452010Revenue 2011: $331,975Expenses 2011: $251,716Net Income 2011: $80,2592011Expenses 2012: $435,0632012Revenue 2013: $584,303Expenses 2013: $456,099Net Income 2013: $128,2042013Revenue 2014: $686,665Expenses 2014: $600,982Net Income 2014: $85,6832014Revenue 2015: $346,264Expenses 2015: $322,846Net Income 2015: $23,4182015Revenue 2016: $12,451,533Expenses 2016: $898,839Net Income 2016: $11,552,6942016Revenue 2017: $1,003,636Expenses 2017: $979,355Net Income 2017: $24,2812017Revenue 2018: $2,659,536Expenses 2018: $1,088,818Net Income 2018: $1,570,7182018Revenue 2019: $1,875,491Expenses 2019: $1,036,732Net Income 2019: $838,7592019Revenue 2020: $1,192,093Expenses 2020: $1,038,185Net Income 2020: $153,9082020Revenue 2021: $1,336,997Expenses 2021: $958,443Net Income 2021: $378,5542021Revenue 2022: $1,449,071Expenses 2022: $854,839Net Income 2022: $594,2322022Revenue 2023: $1,575,817Expenses 2023: $1,026,941Net Income 2023: $548,8762023Revenue 2024: $1,452,819Expenses 2024: $1,747,904Net Income 2024: -$295,0852024Revenue 2025: $1,430,405Expenses 2025: $1,102,339Net Income 2025: $328,0662025

Highlighted filing

2023

Revenue$1,575,817
Expenses$1,026,941
Net Income$548,876
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Sep 29, 2023
Return Version
2022v5.0
Gross Receipts
$2,649,227
Mission and Program Overview

Mission

Creating access, excellence and success for the peninsula college community.

Creating access, excellence and success for the peninsula college community by providing funds for students and programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$4,947,151$5,527,453▲ $580,302
Cash and Non-Interest-Bearing Accounts$1,670,347$1,853,261▲ $182,914
Pledges and Grants Receivable$171,921$203,859▲ $31,938
Other Notes and Loans Receivable, Net$102,974$100,000▼ $2,974
Total Assets$6,892,393$7,684,573▲ $792,180
Liabilities
Escrow Account Liability$407,054$442,615▲ $35,561
Accounts Payable and Accrued Expenses$175,134$95,470▼ $79,664
Total Liabilities$582,188$538,085▼ $44,103
Net Assets / Fund Balance
Net Assets With Donor Restrictions$6,126,278$6,935,792▲ $809,514
Net Assets Without Donor Restrictions$183,927$210,696▲ $26,769
Total Net Assets Fund Balance$6,310,205$7,146,488▲ $836,283
Total Liabilities and Net Assets / Fund Balance$6,892,393$7,684,573▲ $792,180

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$5,527,453--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$4,477,187$164,929▲ $399,211-$5,014,885
2021$5,386,291$140,681▼ $912,176-$4,477,187
2020$4,157,482$453,663▲ $925,198-$5,386,291
2019$3,953,954$187,274▲ $103,090-$4,157,482
2018$3,299,575$562,857▲ $150,057-$3,953,954
Compensation and Service Providers
Top Officer Pay57th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Getta WorkmanExecutive DirectorFT$142,259$142,259

Board Members and Trustees

NameTitle
Paul CunninghamPresident
Kathy CharltonPresident-elect
Bridgette GrahamBoard Member
Dave NeupertBoard Member
Ellie PolkBoard Member
Jim WaltonBoard Member
S Brooke TaylorBoard Member
Jeanne MartinCo-treasurer
Ray GruverCo-treasurer
Valerie FratusSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,323,883
Program Service Revenue
$0
Investment Income
$251,934
Other Revenue
$0
All Other Contributions
$1,323,883
Change in Net Assets
$548,876

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$161,214Fair Market Value.
Other Non Cash Contri Table1$52,520Fair Market Value.
Other Non Cash Contri Table6$34,631Fair Market Value.
Total Noncash Contributions8$248,365-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,575,817
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$287,407
Total Revenue per Audited Statements
$1,863,224
Total Revenue per Form 990
$1,575,817
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$686,643
Other Expenses$302,653
Total Fundraising Expense$39,617
Salaries, Compensation, and Employee Benefits$37,645
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$686,643--$686,643
Other Salaries and Wages$30,116$5,647$1,882$37,645
Fees for Services Accounting-$6,940-$6,940
Insurance-$3,359-$3,359
Other Expenses$40,618$2,677$37,735$2,677
Office Expenses-$570-$570
Fees for Services Other-$124-$124
Total Functional Expenses$892,538$94,786$39,617$1,026,941

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,026,941
Total Expenses per Audited Statements$1,026,941
Total Expenses per Form 990$1,026,941
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Yes
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 7B

“With the governing body's support, the college hires (and pays for) the leadership position (executive director) for the foundation.”

Form 990, Part VI, Section B, Line 11B

“The form 990 was provided to the finance committee and executive committee for initial review with foundation staff. It was then emailed in advance to individual board members prior to a meeting of the full board, where it was formally reviewed and approved.”

Form 990, Part VI, Section B, Line 12C

“Board members and the executive director review, update (if necessary) and sign the conflict of interest policy for compliance annually.”

Form 990, Part VI, Section B, Line 15A

“The process for determining compensation for the foundation's top management official (executive director) is performed by peninsula college, since the college pays the salary and benefits for this position. The compensation aligns with similiar positions within the college staffing and salary structure.”

Form 990, Part VI, Section C, Line 18

“The form 990 and form 1023 are available for public inspection on the foundation's website (www.pencol.edu/foundation) and available upon request by contacting the foundation office at 360-417-6400.”

Form 990, Part VI, Section C, Line 19

“The foundation's governing documents, conflict of interest policy and financial statements are available to the public by request of the foundation office at 360-417-6400. These documents and more are also available online at the foundation's website: www.pencol.edu/foundation.”

Filing and Contact Details

Filer

Filer Name
Peninsula College Foundation
EIN
91-1589749
Phone
3604176400
Address
1502 EAST LAURIDSEN BOULEVARD, PORT ANGELES, WA 98362

Signing Officer

Name
Paul Cunningham
Title
Board President
Phone
3604176400
Signed
2023-09-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paul Cunningham
Formed
1996
Legal Domicile
Wa
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
0

Preparer

Firm
Aiken & Sanders Inc Ps
Address
324 S MAIN ST UNIT A, MONTESANO, WA 98563-4502
Preparer
Lonnie Rich CPA
Phone
3605333370
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The foundation has an annual audit. The finance committee and/or the executive committee of the foundation board works with staff to oversee the audit of its financial statements and selection of an independent accountant. The foundation board assumes the overall responsibility and oversight of the completed audit, and reviewing and approving the findings at a meeting of the full board.”

Financial Statement Notes

PART IV, LINE 2B:

“The foundation is acting as custodian for funds held on behalf of peninsula college. These funds are invested alongside foundation endowment funds. However, as opposed to other investments and endowment funds held by the foundation, peninsula college retained all rights to the funds.”

PART V, LINE 4:

“The foundation manages endowments that are permanently restricted. Investment earnings, but not the principal, are distributed in the form of scholarships, faculty grants and program support.”

PART X, LINE 2:

“The organization reported no uncertain tax positions in it's financial statements for the year ended june 30, 2023.”

Raw XML AppendixShowing 400 of 520 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0CREATING ACCESS, EXCELLENCE AND SUCCESS FOR THE PENINSULA COLLEGE COMMUNITY BY PROVIDING FUNDS FOR STUDENTS AND PROGRAMS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt06310205
IRS990/NetAssetsOrFundBalancesEOYAmt07146488
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt06392
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt06392
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0287407
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0183927
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0210696
IRS990/NoncashContributionsAmt0248365
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0570
IRS990/OfficeExpensesGrp/TotalAmt0570
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0INKIND EXPENSE
IRS990/OtherExpensesGrp/Desc1PIRATE ATHLETIC ASSOCIA
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS
IRS990/OtherExpensesGrp/FundraisingAmt037735
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt075469
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12677
IRS990/OtherExpensesGrp/ProgramServicesAmt0135161
IRS990/OtherExpensesGrp/ProgramServicesAmt140618
IRS990/OtherExpensesGrp/TotalAmt0248365
IRS990/OtherExpensesGrp/TotalAmt140618
IRS990/OtherExpensesGrp/TotalAmt22677
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt01882
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt05647
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt030116
IRS990/OtherSalariesAndWagesGrp/TotalAmt037645
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0102974
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0100000
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0171921
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0203859
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0PAUL CUNNINGHAM
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0FOUNDATION AWARDS FOR STUDENTS AND PROGRAMS COME FROM ENDOWMENT EARNINGS AND DONOR/PARTNER GIVING AND ALIGN WITH PENINSULA COLLEGE'S STRATEGIC GOALS. THIS YEAR'S GRANTS PRIMARILY SUPPORTED FACULTY RESEARCH/PROFESSIONAL DEVELOPMENT, DEVELOPMENT OF A DENTAL HYGIENE PROGRAM, MEDIA TECH, TRANSITIONAL STUDIES (FOR STUDENTS SEEKING A HIGH SCHOOL DIPLOMA), TESTING FEES, COMMUNITY OUTREACH, AND ALLIED HEALTH PROGRAMS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0194392
IRS990/ProgSrvcAccomActy2Grp/GrantAmt0149549
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01200411
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0527715
IRS990/PYInvestmentIncomeAmt0248660
IRS990/PYOtherExpensesAmt0266529
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0594232
IRS990/PYSalariesCompEmpBnftPaidAmt060595
IRS990/PYTotalExpensesAmt0854839
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01449071
IRS990/QuidProQuoContributionsInd01
IRS990/QuidProQuoContriDisclInd01
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0548876
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/CollegeOrganizationInd0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01323883
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01187899
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01087512
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01156352
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01710060
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt06465706
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0245542
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0278664
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0146165
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0178177
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0169404
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01017952
IRS990ScheduleA/PublicSupportCY170Pct00.86400
IRS990ScheduleA/PublicSupportPY170Pct00.88500
IRS990ScheduleA/PublicSupportTotal170Amt06465706
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01323883
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01187899
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01087512
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01156352
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01710060
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt06465706
IRS990ScheduleA/TotalSupportAmt07483658
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/AgentTrusteeEtcInd00
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt04477187
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0164929
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt05014885
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt026442
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0399211
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt05386291
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0140681
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt04477187
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt0137609
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-912176
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt04157482
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0453663
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt05386291
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt0150052
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0925198
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt03953954
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt0187274
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt04157482
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt086836
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0103090
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt03299575
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0562857
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt03953954
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt058535
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0150057
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01026941
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0287407
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt05527453
IRS990ScheduleD/OtherSecuritiesGrp/Desc0INVESTMENTS
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.76600
IRS990ScheduleD/RevenueNotReportedAmt0287407
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01575817
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS ACTING AS CUSTODIAN FOR FUNDS HELD ON BEHALF OF PENINSULA COLLEGE. THESE FUNDS ARE INVESTED ALONGSIDE FOUNDATION ENDOWMENT FUNDS. HOWEVER, AS OPPOSED TO OTHER INVESTMENTS AND ENDOWMENT FUNDS HELD BY THE FOUNDATION, PENINSULA COLLEGE RETAINED ALL RIGHTS TO THE FUNDS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION MANAGES ENDOWMENTS THAT ARE PERMANENTLY RESTRICTED. INVESTMENT EARNINGS, BUT NOT THE PRINCIPAL, ARE DISTRIBUTED IN THE FORM OF SCHOLARSHIPS, FACULTY GRANTS AND PROGRAM SUPPORT.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION REPORTED NO UNCERTAIN TAX POSITIONS IN IT'S FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2023.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART V, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART X, LINE 2:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.23400
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueSecuritiesAmt05527453
IRS990ScheduleD/TotalExpensesPerForm990Amt01026941
IRS990ScheduleD/TotalRevenuePerForm990Amt01575817
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01863224
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01026941
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0537094
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt1149549
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0STUDENT SUPPORT: THE FOUNDATION PROVIDES SCHOLARSHIPS, GRANTS AND EMERGENCY SUPPORT FOR STUDENTS.
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1THE FOUNDATION PROVIDED 8 GRANT BLOCKS TO THE COLLEGE FOR PROGRAM AND STUDENT SUPPORT (DENTAL HYGIENE, EXCEPTIONAL FACULTY, MEDIA TECH, EMERGENCY FUNDS, TRANSITIONAL STUDIES, TESTING FEES, OUTREACH, ATHLETICS). DESIGNATED FUNDS ALSO SUPPORTED 17 OTHER PROGRAMS/ACTIVITIES THROUGHOUT THE YEAR.
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0923
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt125
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0STUDENT SCHOLARSHIPS AND GRANTS: THE AMOUNT OF SCHOLARSHIPS AND GRANTS PROVIDED TO STUDENTS IS DIRECTLY RELATED TO ENDOWMENT AWARD DETERMINATIONS (AS SPECIFIED IN THE BOARD APPROVED "INVESTMENT SPENDING POLICY") AND DONOR GIVING. THERE IS A COMPETITIVE APPLICATION PROCESS FOR STUDENT SCHOLARSHIPS, CREATED IN COLLABORATION WITH THE COLLEGE, TO MEET THE NEEDS OF THE COLLEGE AND STUDENTS WHILE HONORING THE AWARD CRITERIA SET BY DONORS. THE STUDENT AFFAIRS COMMITTEE OF THE COLLEGE, UNDER THE DIRECTION OF THE STUDENT SERVICES VICE PRESIDENT, LEADS THE SCHOLARSHIP AWARD PROCESS. AWARDS ARE SPLIT EQUALLY OVER EACH QUARTER AND STUDENT PERFORMANCE IS MONITORED BY THE COLLEGE TO ENSURE AWARD CRITERIA IS MET. IF AWARD CRITERIA IS NOT MET, THE FUNDS ARE NOT DISBURSED AND THE SCHOLARSHIP IS FORFEITED AND USED FOR A FUTURE AWARDEE. FACULTY, STAFF AND PROGRAM GRANTS: THE AMOUNT OF GRANTS PROVIDED TO FACULTY, STAFF AND PROGRAMS ARE DIRECTLY RELATED TO ENDOWMENT AWARD DETERMINATIONS AND DONOR GIVING. THE FOUNDATION BOARD ALSO ELECTS ANNUALLY WHETHER TO DESIGNATE UNRESTRICTED FUNDS FOR THIS USE. THERE IS A COMPETITIVE APPLICATION PROCESS FOR FACULTY GRANTS, THE CRITERIA FOR WHICH IS COLLABORATIVELY DETERMINED BY THE COLLEGE IN ORDER TO MEET ITS STRATEGIC OBJECTIVES AND THE DONOR OR FUNDS INTENTIONS. THE FACULTY AWARD SELECTION TEAM IS COMPRISED OF COLLEGE LEADERSHIP STAFF WHO ARE KNOWLEDGEABLE OF AVAILABLE COLLEGE FUNDS FOR LEVERAGING FOUNDATION AWARDS. GRANT RECIPIENTS REPORT BACK TO THE FOUNDATION ON THE OUTCOME OF GRANT-RELATED ACTIVITIES.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt01
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt11
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt26
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc0STAFF SALARIES & BENEFITS PAID BY COLLEGE
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc1PROGRAM SUPPLIES & EQUIPMENT FROM COLLEGE
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc2PROGRAM SUPPLIES & EQUIPMENT
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt0FAIR MARKET VALUE.
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt1FAIR MARKET VALUE.
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt2FAIR MARKET VALUE.
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd0X
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd1X
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd2X
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt0161214
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt152520
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt234631
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd00
IRS990ScheduleM/ThirdPartiesUsedInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0WITH THE GOVERNING BODY'S SUPPORT, THE COLLEGE HIRES (AND PAYS FOR) THE LEADERSHIP POSITION (EXECUTIVE DIRECTOR) FOR THE FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 WAS PROVIDED TO THE FINANCE COMMITTEE AND EXECUTIVE COMMITTEE FOR INITIAL REVIEW WITH FOUNDATION STAFF. IT WAS THEN EMAILED IN ADVANCE TO INDIVIDUAL BOARD MEMBERS PRIOR TO A MEETING OF THE FULL BOARD, WHERE IT WAS FORMALLY REVIEWED AND APPROVED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD MEMBERS AND THE EXECUTIVE DIRECTOR REVIEW, UPDATE (IF NECESSARY) AND SIGN THE CONFLICT OF INTEREST POLICY FOR COMPLIANCE ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PROCESS FOR DETERMINING COMPENSATION FOR THE FOUNDATION'S TOP MANAGEMENT OFFICIAL (EXECUTIVE DIRECTOR) IS PERFORMED BY PENINSULA COLLEGE, SINCE THE COLLEGE PAYS THE SALARY AND BENEFITS FOR THIS POSITION. THE COMPENSATION ALIGNS WITH SIMILIAR POSITIONS WITHIN THE COLLEGE STAFFING AND SALARY STRUCTURE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FORM 990 AND FORM 1023 ARE AVAILABLE FOR PUBLIC INSPECTION ON THE FOUNDATION'S WEBSITE (WWW.PENCOL.EDU/FOUNDATION) AND AVAILABLE UPON REQUEST BY CONTACTING THE FOUNDATION OFFICE AT 360-417-6400.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE FOUNDATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC BY REQUEST OF THE FOUNDATION OFFICE AT 360-417-6400. THESE DOCUMENTS AND MORE ARE ALSO AVAILABLE ONLINE AT THE FOUNDATION'S WEBSITE: WWW.PENCOL.EDU/FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE FOUNDATION HAS AN ANNUAL AUDIT. THE FINANCE COMMITTEE AND/OR THE EXECUTIVE COMMITTEE OF THE FOUNDATION BOARD WORKS WITH STAFF TO OVERSEE THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE FOUNDATION BOARD ASSUMES THE OVERALL RESPONSIBILITY AND OVERSIGHT OF THE COMPLETED AUDIT, AND REVIEWING AND APPROVING THE FINDINGS AT A MEETING OF THE FULL BOARD.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 18

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,684,573
Liabilities
$538,085
Net assets
$7,146,488
Revenue
$1,575,817
Expenses
$1,026,941
Net income
$548,876
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.53$0.65$7.88$1.43$1.10$0.33
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.71$0.61$7.10$1.45$1.75$0.30
2023Detailed filing. Detailed filing data is available for this year.$7.68$0.54$7.15$1.58$1.03$0.55
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.89$0.58$6.31$1.45$0.85$0.59
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.39$0.62$6.76$1.34$0.96$0.38
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.21$0.62$5.58$1.19$1.04$0.15
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.81$0.56$5.25$1.88$1.04$0.84
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.84$0.54$4.30$2.66$1.09$1.57
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.8$0.00$11.8$1.00$0.98$0.02
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.6$0.06$13.5$12.5$0.90$11.6
2015Summary only. Only limited summary data is available for this year.$1.61$0.00$1.60$0.35$0.32$0.02
2014Detailed filing. Detailed filing data is available for this year.$1.63$0.01$1.63$0.69$0.60$0.09
2013Detailed filing. Detailed filing data is available for this year.$1.62$0.01$1.62$0.58$0.46$0.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.39$0.00$1.39$0.44
2011Summary only. Only limited summary data is available for this year.$1.41$0.00$1.41$0.33$0.25$0.08
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.34$0.00$1.34$0.28