Mayland Community College Foundation Inc

EIN: 581486405 501(c)(3) Education

Spruce Pine, NC

Total Revenue
$1,770,463
Total Expenses
$5,504,093
Total Assets
$10,108,635
Net Assets
$10,108,475
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1982
Legal Domicile
NC
Principal Officer
Brywn Philips
Phone
8287661275
Tax Period
2024-07-01 to 2025-06-30

Mayland Community College Foundation Inc, founded in 1982, is a community nonprofit in the Education sector that reported $1.8M in total revenue in fiscal year 2024. Revenue fell 82% from the prior year — a significant decline worth monitoring. Expenses of $5.5M exceeded revenue, resulting in a 211% operating deficit.

Mission

The Mayland Community College Foundation is a non-profit 501(c)(3) organization whose mission is to support, strengthen, and advance the work of Mayland Community 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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,509,705
Program Service Revenue $0
Investment Income $260,758
Other Revenue $0
TOTAL REVENUE $1,770,463

Expense Breakdown

Grants Paid $5,385,583
Salaries & Benefits $0
Fundraising Expenses $8,277
Program Expenses $5,412,983
Other Expenses $118,510
TOTAL EXPENSES $5,504,093

Year-over-Year Comparison

2024 2023 Change
Revenue $1,770,463 $9,714,655 -0.8%
Expenses $5,504,093 $6,140,652 -0.1%
Net Income $-3,733,630 $3,574,003 -2.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
13
Independent Members
10
Employees
N/A
Volunteers
9

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
3
$99,301
Total Directors
13
$470,517
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Brywn Philips Executive Director 40.00
Officer
$0 $28,149 $99,301
Linda Larson President 0.25
Officer Director
$0 $0 $0
Angela Cook Treasurer 0.25
Officer Director
$0 $0 $0
Dr John Boyd MCC President 0.25
Director
$0 $95,938 $315,021
Amanda Buchanan MCC Vice-President 0.25
Director
$0 $46,738 $155,496
Elliott Grosh Member 0.25
Director
$0 $0 $0
Wanda Proffitt Member 0.25
Director
$0 $0 $0
Thuc Moore Member 0.25
Director
$0 $0 $0
Nancy Burleson Member 0.25
Director
$0 $0 $0
Charles Bierbauer Member 0.25
Director
$0 $0 $0
Jeff Davis Member 0.25
Director
$0 $0 $0
Suzanne Russell Member 0.25
Director
$0 $0 $0
Edwina Sluder Member 0.25
Director
$0 $0 $0
Claude Smith Member 0.25
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
2025 $1,770,463 $5,504,093 $10,108,635 $-3,733,630
2024 $9,714,655 $6,140,652 $13,300,115 $3,574,003
2023 $1,596,941 $2,451,636 $9,305,713 $-854,695
2022 $5,986,643 $1,925,645 $9,664,041 $4,060,998
2021 $1,337,779 $2,020,829 $6,409,153 $-683,050
2020 $1,316,889 $912,859 $6,247,016 $404,030
2019 $1,000,128 $401,406 $5,921,028 $598,722
2018 $666,936 $428,326 $5,438,643 $238,610
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