2024-03-18T14:38:12-05:00 2023-06-30 873707167 CBIZ MARKS PANETH LLC 4 MANHATTANVILLE ROAD SUITE 402 PURCHASE NY 10577 990 2022-07-01 066080293 NORWALK COMMUNITY COLLEGE FOUNDATION INC NORW 2038577262 188 RICHARDS AVENUE E311 NORWALK CT 068541655 CARRIE L BERNIER INTERIM CEO 2038577261 2024-03-14 1 CARRIE BERNIER 999009999 1 MAGDALENA CZERNIAWSKI P00535099 9145249000 2024-03-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z VINCENT A MURPHY 188 RICHARDS AVENUE E311 NORWALK CT 068541655 6625878 0 X HTTPS://NCC-FOUNDATION.ORG X 1965 CT FUNDRAISING FOR SCHOLARSHIPS, PROGRAMS AND CAPITAL SUPPORT FOR NORWALK COMMUNITY COLLEGE. 21 21 9 30 0 0 3540286 3128929 0 0 1671548 1098908 0 0 5211834 4227837 2263186 2692673 0 0 770321 741433 0 0 313623 365883 361817 3399390 3795923 1812444 431914 32505867 35228337 1526550 2141561 30979317 33086776 X THE MISSION OF THE NORWALK COMMUNITY COLLEGE FOUNDATION IS THREEFOLD: 1) RAISE FUNDS FOR NORWALK COMMUNITY COLLEGE PROGRAMS AND SCHOLARSHIPS. (2) INVEST, ADMINISTER AND DISTRIBUTE FUNDS SO THAT STUDENTS OF ALL AGES CONTINUE TO BENEFIT FROM CHALLENGING OPPORTUNITIES FOR SELF-IMPROVEMENT AND INTELLECTUAL GROWTH. (3) INSPIRE AND ENGAGE OUR COMMUNITY TO SHARE TALENTS AND RESOURCES. 0 0 1590779 1466163 THE FOUNDATION SUPPORTS NORWALK COMMUNITY COLLEGE TO FURTHER THE DEVELOPMENT OF THE STUDENT BODY BY PROVIDING FUNDING FOR A VARIETY OF PROGRAMS AND INITIATIVES. THE AMOUNT REPORTED ABOVE IS FOR THE FISCAL YEAR ENDING JUNE 30, 2023. 1427719 1226510 THE DISTRIBUTION OF SCHOLARSHIPS IS ONE OF THE PRIMARY OBJECTIVES OF THE FOUNDATION. IN THE 2022/2023 ACADEMIC YEAR, 815 STUDENTS WERE AWARDED SCHOLARSHIPS. THE AMOUNT REPORTED ABOVE IS FOR THE FISCAL YEAR ENDING JUNE 30, 2023. SCHOLARSHIPS BESTOW ON STUDENTS A VALUABLE SENSE OF RECOGNITION AND ACCOMPLISHMENT AS WELL AS IMPORTANT FINANCIAL SUPPORT. OUR SCHOLARSHIP DONORS INCLUDE PRIVATE INDIVIDUALS, CORPORATIONS AND FOUNDATIONS, ALL OF WHOM ARE COMMITTED TO MAKING AN EDUCATION AFFORDABLE FOR NCC STUDENTS. THE FOUNDATION'S SCHOLARSHIP PROCESS IS COMPETITIVE AND ACADEMIC ACHIEVEMENT IS A PRIMARY CONSIDERATION. HOWEVER, FINANCIAL NEED, SPECIAL CIRCUMSTANCES AND PERSONAL QUALITIES ARE ALSO CONSIDERED IN AWARDING SCHOLARSHIPS. SCHOLARSHIP APPLICATIONS ARE REVIEWED BY THE SCHOLARSHIP COMMITTEE, WHICH IS COMPRISED OF BOARD DIRECTORS, COMMUNITY MEMBERS, PRESIDENT & CEO AND THE SCHOLARSHIP MANAGER. 3018498 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 11 0 1 9 1 0 0 0 0 0 0 0 0 0 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X KRIS YEAGER CHIEF FINANCIAL OFFICER 2038577262 188 RICHARDS AVE SUITE E311 NORWALK CT 068541655 DEBORAH C MCLEAN DIRECTOR 4.00 X 0 0 0 ESTER RAMIREZ-CEPEDA DIRECTOR 1.00 X 0 0 0 GM O'CONNELL DIRECTOR 1.00 X 0 0 0 GEORGE A REILLY DIRECTOR/CHAIR 10.00 X X 0 0 0 JERRY NIELSEN DIRECTOR 1.00 X 0 0 0 JON GOLD DIRECTOR/TREASURER 4.00 X X 0 0 0 JOSEPH R ZIMMEL DIRECTOR/VICE CHAIR 4.00 X X 0 0 0 KENNETH BERNHEIM DIRECTOR 1.00 X 0 0 0 LAURA ERICKSON DIRECTOR/SECRETARY 4.00 X X 0 0 0 LAURA STERNER DIRECTOR 1.00 X 0 0 0 LIVIA BARNDOLLAR DIRECTOR 4.00 X 0 0 0 NORADEEN FARLEKAS DIRECTOR 4.00 X 0 0 0 PHIL SNOW DIRECTOR 1.00 X 0 0 0 READ HUBBARD DIRECTOR 1.00 X 0 0 0 ROBERT GRANATA DIRECTOR 1.00 X 0 0 0 SUSAN G WEINBERGER DIRECTOR 4.00 X 0 0 0 TARA LOVANIO DIRECTOR 1.50 X 0 0 0 TOM REYNOLDS DIRECTOR 1.00 X 0 0 0 VASSO GYFTOPOULOS DIRECTOR 1.00 X 0 0 0 VINJAY GANDHI DIRECTOR 1.00 X 0 0 0 WARREN PENA DIRECTOR 1.00 X 0 0 0 CARRIE L BERNIER PRESIDENT & CEO (OUTGOING) 50.00 X 199838 0 17827 KRIS YEAGER CFO 40.00 X 118622 0 13642 VINCENT A MURPHY INTERIM CEO 50.00 X 0 0 0 318460 0 31469 2 0 1 0 0 3128929 8503 3128929 877045 877045 2619904 2398041 221863 221863 221863 4227837 0 0 1098908 1466163 1466163 1226510 1226510 359688 148480 127571 83637 274194 98824 65067 110303 46536 17912 13637 14987 12459 4023 2289 6147 48556 18868 14616 15072 64250 64250 35750 35750 103240 103240 63733 2560 16232 44941 28346 10508 6321 11517 15519 5753 3461 6305 21514 7975 4798 8741 1296 480 289 527 4317 1600 963 1754 2211 820 493 898 13161 4879 2935 5347 INCENTIVES & OTHER SUPP 4987 1848 1111 2028 MEMBERSHIP, DUES & SUB. 3493 1295 779 1419 3795923 3018498 463802 313623 14056 157712 5856682 5896588 33000 109000 9346 7301 67870 56353 13729 11517 26471451 28988422 107603 57797 32505867 35228337 29069 30125 1464103 1972719 33378 138717 1526550 2141561 X 2413984 3214673 28565333 29872103 30979317 33086776 32505867 35228337 431914 1675545 0 X X 0 1 X 1 0 X 2317534 3809918 2310854 3540286 3130032 15108624 2317534 3809918 2310854 3540286 3130032 15108624 3237254 11871370 699373 603319 448967 560848 877045 3189552 18298176 0.64880 0.58290 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 22870644 120550 2374801 888696 24477299 27466722 119461 -3315093 1400446 22870644 22328788 101537 6075117 1038720 27466722 22364115 308933 824740 1169000 22328788 22062643 54399 1149850 902777 22364115 0.67833 0.32167 1 0 12941 12941 0 54929 43412 11517 11517 ANNUITIES PAYABLE 31409 REFUNDABLE ADVANCES 107308 138717 X 5801245 1675545 1103 1676648 4124597 103240 103240 4227837 3693786 1103 1103 3692683 103240 103240 3795923 PART V, LINE 4: THE INTENDED USE OF THE ENDOWMENT IS FOR SCHOLARSHIPS AND GRANTS TO NORWALK COMMUNITY COLLEGE. PART X, LINE 2: THE FOUNDATION EVALUATES ALL SIGNIFICANT TAX POSITIONS IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. AS OF JUNE 30, 2023, THE FOUNDATION DOES NOT BELIEVE THAT IT HAS TAKEN ANY POSITIONS THAT WOULD REQUIRE THE RECORDING OF ANY TAX LIABILITY NOR DOES IT BELIEVE THAT THERE ARE ANY UNREALIZED TAX BENEFITS THAT WOULD EITHER INCREASE OR DECREASE WITHIN THE NEXT YEAR. 1 NORWALK COMMUNITY COLLEGE A DEPARTMENT OF THE STATE OF CT 188 RICHARDS AVENUE NORWALK CT 06854 061425725 115 1466163 0 COLLEGE SUPPORT INCLUDING FUNDING FACULTY POSITIONS IN CENTER FOR SCIENCE, COLLEGE ADVANCEMENT AND COVID 19 EMERGENCY GRANTS TO SUPPORT NON-RECURRING STUDENT CRITICAL NEEDS SUCH AS TECHNOLOGY FOR VIRTUAL LEARNING, FOOD, HOUSING, CHILDCARE, ETC. 1 SCHOLARSHIPS 556 1226510 PART I, LINE 2: THE FOUNDATION EVALUATES THE COLLEGE'S REQUEST FOR FUNDING ANNUALLY AND PROVIDES SUPPORT BASED ON THE FUNDS AVAILABLE AND COMMITMENTS RECEIVED. THE COLLEGE SUBMITS TO THE FOUNDATION REGULAR FISCAL REPORTS AND NARRATIVE UPDATES ON THE PROJECTS BEING FUNDED. BEFORE SUBMITTING A BILL TO THE FOUNDATION, ALL GRANT PAYMENT REQUESTS ARE REVIEWED BY THE COLLEGE BUSINESS OFFICE WHICH COLLECTS THE BACKUP DATA SUCH AS SALARY REPORTS, PURCHASE ORDERS AND RECEIPTS. THE COLLEGE PROVIDES ALL THE BACKUP DOCUMENTATION TO THE FOUNDATION IN SUPPORT OF THE GRANT PAYMENTS. THE FOUNDATION SETS A BUDGET FOR SCHOLARSHIPS BASED ON THE FUNDS AVAILABLE. THE SCHOLARSHIP COMMITTEE IDENTIFIES STUDENTS WHO MEET THE SCHOLARSHIP ELIGIBILITY REQUIREMENTS AND THEN AWARDS ACCORDINGLY. FOUNDATION PERSONNEL VERIFY ELIGIBILITY AGAIN PRIOR TO EACH SUCCESSIVE SEMESTER PAYMENT AFTER INITAL AWARD FOR FULL YEAR SCHOLARSHIPS. X X X 0 0 0 0 0 0 0 0 0 CARRIE L BERNIER PRESIDENT & CEO (OUTGOING) 199838 0 0 0 0 0 17827 0 0 0 217665 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTANT. FORM 990 IS ALSO REVIEWED BY THE AUDIT COMMITTEE, AND SUBSEQUENTLY DISTRIBUTED TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST QUESTIONNAIRE IS DISTRIBUTED ANNUALLY TO ALL BOARD DIRECTORS AND THE EXECUTIVE DIRECTOR BY THE PRESIDENT OF THE FOUNDATION. THE QUESTIONNAIRE RESPONSES ARE THEN REVIEWED BY THE AUDIT COMMITTEE CHAIR AND THE BOARD PRESIDENT. FORM 990, PART VI, SECTION B, LINE 15A THE SALARY OF THE EXECUTIVE DIRECTOR IS REVIEWED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE FOUNDATION BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE CONSIDERS THE SALARIES OF OTHER EXECUTIVE DIRECTORS DISCLOSED ON FORMS 990 OF SIMILAR NOT FOR PROFIT ORGANIZATIONS IN THE AREA. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT, ITS FINANCIAL STATEMENTS, AS WELL AS THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.