NEW RIVER COMMUNITY COLLEGE EDUCATIONAL FOUNDATION INC

EIN: 521203686 501(c)(3)

DUBLIN, VA

Total Revenue
$3,891,636
Total Expenses
$1,888,471
Total Assets
$33,230,143
Net Assets
$33,228,887
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Financial Trends

Organization Details

Formation Year
1980
Legal Domicile
VA
Principal Officer
KENNEDY DEBORAH
Phone
5406743600
Tax Period
2024-01-01 to 2024-12-31

NEW RIVER COMMUNITY COLLEGE EDUCATIONAL FOUNDATION INC, founded in 1980, is a community nonprofit that reported $3.9M in total revenue in fiscal year 2024. Revenue decreased 11% compared to the prior year. The organization ran a surplus of $2.0M, a strong 51% operating margin.

Mission

THE NEW RIVER COMMUNITY COLLEGE EDUCATION FOUNDATION, INC (THE FOUNDATION) SERVES AS A CONDUIT FOR CONTRIBUTIONS THAT PROVIDE SCHOLARSHIP OPPORTUNITIES AND TUITION AND BOOK ASSISTANCE FOR STUDENTS, FACULTY, AND STAFF, AT NEW RIVER COMMUNITY COLLEGE. THE FOUNDATION RELIES ON THE GENEROSITY OF THE COMMUNITY TO CONTINUE ITS WORK IN SECURING THE FUTURE OF THE COLLEGE, ITS STUDENTS, FACULTY, AND STAFF. CONTRIBUTIONS ARE RECEIVED FROM VARIOUS CORPORATIONS AND THE GENERAL PUBLIC AND ARE AN INVESTMENT IN THE FUTURE OF THE COMMUNITY. THROUGH DONATIONS, GRANTS, AND ENDOWMENTS, THE FOUNDATION IS ABLE TO PROVIDE TUITION AND TEXTBOOK SCHOLARSHIPS FOR STUDENTS, FUND ACADEMIC PROGRAMS, AND ENCOURAGE THE PROFESSIONAL DEVELOPMENT OF NEW RIVER COMMUNITY COLLEGE'S FACULTY AND STAFF. THE FOUNDATION'S WORK HELPS TO ENSURE THE COLLEGE CONTINUES ITS PLEDGE OF PROVIDING ACADEMIC EXCELLENCE WHILE EXPANDING THE SERVICES IT OFFERS TO FULFILL ESCALATING WORKFORCE REQUIREMENTS.

Program Service Accomplishments

Program 1
Expenses: $1,750,529

SCHOLARHIPS AWARDED AND TUITION AND BOOK ASSISTANCE PROVIDED TO NEW RIVER COMMUNITY COLLEGE STUDENTS, FACULTY, AND STAFF. THE EXPENSE TOTALS DO NOT INCLUDE THE VALUE OF DONATED STAFF OF 60,000 AND...

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SCHOLARHIPS AWARDED AND TUITION AND BOOK ASSISTANCE PROVIDED TO NEW RIVER COMMUNITY COLLEGE STUDENTS, FACULTY, AND STAFF. THE EXPENSE TOTALS DO NOT INCLUDE THE VALUE OF DONATED STAFF OF 60,000 AND DONATED FACILITIES OF 2,460.

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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 $2,949,223
Program Service Revenue $0
Investment Income $740,803
Other Revenue $201,610
TOTAL REVENUE $3,891,636

Expense Breakdown

Grants Paid $1,749,479
Salaries & Benefits $0
Fundraising Expenses $24,300
Program Expenses $1,750,529
Other Expenses $138,992
TOTAL EXPENSES $1,888,471

Year-over-Year Comparison

2024 2023 Change
Revenue $3,891,636 $4,365,778 -0.1%
Expenses $1,888,471 $1,761,587 +0.1%
Net Income $2,003,165 $2,604,191 -0.2%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
30
Independent Members
30
Employees
N/A
Volunteers
28

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
$377,134
Total Directors
30
$377,134
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KENNEDY DEBORAH INT EXEC DIR 40.00
Officer
$0 $0 $0
ADEN WILLIAM BOARD MEMBER 2.00
Director
$0 $0 $0
AKERS DIANE BOARD MEMBER 2.00
Director
$0 $0 $0
BROWN JOHN BOARD MEMBER 2.00
Director
$0 $0 $0
BROWNE KEVIN BOARD MEMBER 2.00
Director
$0 $0 $0
COVEY ANGELA DIRECTOR EME 40.00
Officer Director
$0 $34,022 $156,740
DAVIS SANDY BOARD MEMBER 2.00
Director
$0 $0 $0
EDWARDS RANDALL DIRECTOR EME 2.00
Director
$0 $0 $0
FLATTERY BILL BOARD MEMBER 2.00
Director
$0 $0 $0
GRAHAM FLORINE DIRECTOR EME 2.00
Director
$0 $0 $0
HALE EDDIE DIRECTOR EME 2.00
Director
$0 $0 $0
HANCOCK GARY CO-CHAIR 2.00
Director
$0 $0 $0
HATCHER VINCE BOARD MEMBER 2.00
Director
$0 $0 $0
HUBER PAT DIRECTOR EME 2.00
Officer Director
$0 $33,443 $220,394
LAWHORN ED DIRECTOR EME 2.00
Officer Director
$0 $0 $0
MCALISTER JIM BOARD MEMBER 2.00
Director
$0 $0 $0
MEADOWS CRAIG BOARD MEMBER 2.00
Director
$0 $0 $0
NICELY HIWATHA DIRECTOR EME 2.00
Director
$0 $0 $0
OJOMO NITA BOARD MEMBER 2.00
Director
$0 $0 $0
OVERSTREET WAYLAND DIRECTOR EME 2.00
Director
$0 $0 $0
OWENS ANDREW DIRECTOR EME 2.00
Director
$0 $0 $0
RAKES JAMES CO-CHAIR, TR 2.00
Officer Director
$0 $0 $0
RIDPATH DAVID BOARD MEMBER 2.00
Director
$0 $0 $0
ROBERTSON TODD BOARD MEMBER 2.00
Director
$0 $0 $0
SHELOR LARRY BOARD MEMBER 2.00
Director
$0 $0 $0
SIMMONS L T DIRECTOR EME 2.00
Director
$0 $0 $0
STALLINGS MARTHA ANN BOARD MEMBER 2.00
Director
$0 $0 $0
WATSON MICHAEL DIRECTOR EME 2.00
Director
$0 $0 $0
WEBB LEWIS DIRECTOR EME 2.00
Director
$0 $0 $0
WELTENS KEITH BOARD MEMBER 2.00
Director
$0 $0 $0
WHEELER ANNE DIRECTOR EME 2.00
Director
$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
2024 $3,891,636 $1,888,471 $33,230,143 $2,003,165
2023 $4,365,778 $1,761,587 $28,753,648 $2,604,191
2022 $2,925,233 $1,630,139 $23,381,970 $1,295,094
2021 $2,938,715 $1,549,008 $25,600,364 $1,389,707
2020 $2,238,821 $1,401,877 $22,559,324 $836,944
2019 $2,679,523 $1,307,908 $20,189,203 $1,371,615
2018 $1,923,606 $1,065,722 $15,647,745 $857,884
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