WALTERS STATE COMMUNITY COLLEGE FOUNDATION

EIN: 510162364 501(c)(3) Education

Morristown, TN

Total Revenue
$2,306,116
Total Expenses
$2,016,721
Total Assets
$25,758,630
Net Assets
$25,750,764
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1975
Legal Domicile
TN
Principal Officer
Mark Hurst
Phone
4235852629
Tax Period
2024-07-01 to 2025-06-30

WALTERS STATE COMMUNITY COLLEGE FOUNDATION, founded in 1975, is a community nonprofit in the Education sector that reported $2.3M in total revenue in fiscal year 2024. Revenue surged 44% from the prior year, signaling strong growth momentum. Expenses of $2.0M left a modest 13% surplus.

Mission

It is the mission of Walters State Community College Foundation to promote and support literary, scientific, education scholarship, research, charitable and developmental purposes and objectives at Walters State Community College, and to achieve results as a 501(c)3 public charity consistent with the laws of the State of Tennessee and the Internal Revenue Service

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,127,969
Program Service Revenue $0
Investment Income $133,276
Other Revenue $44,871
TOTAL REVENUE $2,306,116

Expense Breakdown

Grants Paid $651,595
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,968,645
Other Expenses $1,365,126
TOTAL EXPENSES $2,016,721

Year-over-Year Comparison

2024 2023 Change
Revenue $2,306,116 $1,598,462 +0.4%
Expenses $2,016,721 $1,569,657 +0.3%
Net Income $289,395 $28,805 +9.0%
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

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Governance

Voting Members
53
Independent Members
49
Employees
N/A
Volunteers
15

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
5
$397,277
Total Directors
2
$397,277
Key Employees
3
$396,026
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Tony Miksa President Walters State Community College 0
Officer Director Highest
$0 $0 $248,821
Mark Hurst Treasurer and Vice President Business and Finance Walters State Community College 5
Officer Director
$0 $0 $148,456
Angela Smith Vice President for Student Affairs 0
Key Emp
$0 $0 $142,092
James Pectol Vice President Communications and Marketing 0
Key Emp
$0 $0 $130,254
Brock Fisher Vice President Academic Affairs 0
Key Emp
$0 $0 $123,680
Sharon Greene Foundation President 5
Officer
$0 $0 $0
Justin Cook Foundation Vice President 2
Officer
$0 $0 $0
Frank McGuffin Foundation Secretary 1
Officer
$0 $0 $0
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 $2,306,116 $2,016,721 $25,758,630 $289,395
2024 $1,598,462 $1,569,657 $25,096,091 $28,805
2023 $683,061 $1,344,639 $23,626,199 $-661,578
2022 $1,218,604 $1,628,572 $23,408,983 $-409,968
2021 $3,646,836 $2,770,728 $27,157,062 $876,108
2020 $1,543,822 $1,384,171 $26,295,619 $159,651
2019 $1,760,822 $1,296,607 $25,045,963 $464,215
2018 $2,969,738 $1,868,228 $23,603,363 $1,101,510
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