HAGERSTOWN COMMUNITY COLLEGE FOUND… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1968

Legal Domicile

Principal Officer

DAVID ABELES

Phone

2405002000

Tax Period

2022-07-01 to 2023-06-30

HAGERSTOWN COMMUNITY COLLEGE FOUNDATION INC, founded in 1968, is a community nonprofit in the Education sector that reported $2.0M in total revenue in fiscal year 2022. Revenue fell 76% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $740K, a strong 37% operating margin.

Mission

TO ASSIST HAGERSTOWN COMMUNITY COLLEGE IN IT'S MISSION OF BEING A COMPREHENSIVE OPEN DOOR EDUCATIONAL INSTITUTION BY PROVIDING A MEANS FOR INDIVIDUALS AND BUSINESSES TO INVEST IN THE FUTURE OF OUR CITIZENS.

Program Service Accomplishments

Program 1

Expenses: $1,041,760

DURING FY23, THE FOUNDATION PROVIDED SCHOLARSHIPS TO 876 ELIGIBLE INDIVIDUALS ATTENDING HAGERSTOWN COMMUNITY COLLEGE. THE FOUNDATION ALSO PROVIDED SUPPORT FOR THE NEEDS OF THE COLLEGE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $1,248,901

Program Service Revenue $0

Investment Income $651,929

Other Revenue $91,301

TOTAL REVENUE $1,992,131

Expense Breakdown

Grants Paid $1,032,999

Salaries & Benefits $0

Fundraising Expenses $13,488

Program Expenses $1,041,760

Other Expenses $219,401

TOTAL EXPENSES $1,252,400

Year-over-Year Comparison

	2022	2021	Change
Revenue	$1,992,131	$8,438,842	-0.8%
Expenses	$1,252,400	$1,148,651	+0.1%
Net Income	$739,731	$7,290,191	-0.9%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$105,437

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID ABELES	PRESIDENT	2.00	Officer Director	$0	$0	$0
MELINDA WORDEN	SECRETARY, BOARD DEVELOPME	1.00	Officer Director	$0	$0	$0
MARY HEIZER	TREASURER, USMF LIAISON	1.00	Officer Director	$0	$0	$0
JULIE DONAT	VP, RESOURCE DVLPT CMTE CHAIR	1.00	Officer Director	$0	$0	$0
WILLIAM FRITTS II	PAST-PRESIDENT	1.00	Officer Director	$0	$0	$0
BRENDA HASSINGER	ALUMNI REP, SCHOLARSHIP CMTE CHAIR	0.50	Director	$0	$0	$0
MICHAEL GEHR	BOOSTER REPRESENTATIVE	0.50	Director	$0	$0	$0
JAMES PIERNE	FACULTY REPRESENTATIVE	0.50	Director	$0	$0	$0
BRENTON ROHRER	SIODA REPRESENTATIVE	0.50	Director	$0	$0	$0
PAULA LAMPTON	TRUSTEE LIAISON	0.50	Director	$0	$0	$0
JOHN WILLIAMSON	TRUSTEE LIAISON	0.50	Director	$0	$0	$0
JONNY BARR	DIRECTOR	0.50	Director	$0	$0	$0
JODI BLAIR	DIRECTOR	0.50	Director	$0	$0	$0
LIEBA COHEN	DIRECTOR	0.50	Director	$0	$0	$0
PAUL CRAMPTON III	DIRECTOR	0.50	Director	$0	$0	$0
TAYLOR DAVIS	DIRECTOR	0.50	Director	$0	$0	$0
LINDA EBERSOLE	DIRECTOR	0.50	Director	$0	$0	$0
ELLEN GERCKE	DIRECTOR	0.50	Director	$0	$0	$0
LAURA HERRERA	DIRECTOR	0.50	Director	$0	$0	$0
JUDITH KOFOET	DIRECTOR	0.50	Director	$0	$0	$0
JOHN LATIMER IV	DIRECTOR	0.50	Director	$0	$0	$0
ALAN LEVIN	DIRECTOR	0.50	Director	$0	$0	$0
VIRGINIA LINDSAY	DIRECTOR	0.50	Director	$0	$0	$0
CARROL LOURIE	DIRECTOR	0.50	Director	$0	$0	$0
JOHN MILLER	DIRECTOR	0.50	Director	$0	$0	$0
GEORGE NEWMAN III	DIRECTOR	0.50	Director	$0	$0	$0
DAVID RISSER	DIRECTOR	0.50	Director	$0	$0	$0
JOAN SCHUPP	DIRECTOR	0.50	Director	$0	$0	$0
DUSTIN WATSON	DIRECTOR	0.50	Director	$0	$0	$0
DR ASHLEY WHALEY	SR DIR, COLLEGE ADVANCEMEN	37.50	Officer	$0	$16,152	$105,437

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$1,992,131	$1,252,400	$23,794,295	$739,731
2022	$8,438,842	$1,148,651	$22,565,769	$7,290,191
2021	$1,593,789	$982,232	$16,770,286	$611,557
2020	$2,293,756	$982,232	$13,263,110	$1,311,524
2019	$1,810,116	$951,385	$12,639,660	$858,731
2018	$1,287,435	$1,016,551	$11,580,535	$270,884

HAGERSTOWN COMMUNITY COLLEGE FOUNDATION INC