2024-05-15T20:32:15-05:00 2023-06-30 990 2022-07-01 611109704 OWENSBORO COMMUNITY AND TECHNICAL COLLEGE FOUNDATION INC OWEN 2706864503 4800 NEW HARTFORD ROAD OWENSBORO KY 42303 MICHAEL D RODGERS EXECUTIVE DIRECTOR 2706864503 2024-05-13 MICHAEL RODGERS 999009999 0 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MICHAEL D RODGERS 4800 NEW HARTFORD RD OWENSBORO KY 42303 948012 0 X WWW.OCTC.KCTCS.EDU/GIVING/FOUNDATION.ASPX X 1986 KY THE OCTC FOUNDATION, INC. IS A NONPROFIT CORPORATION FORMED TO SUPPORT THE PURPOSES AND PROMOTE THE FURTHER DEVELOPMENT OF THE OWENSBORO COMMUNITY AND TECHNICAL COLLEGE. THE FOUNDATION'S SUPPORT COMES PRIMARILY FROM INDIVIDUAL, BUSINESS AND LOCAL GOVERNMENT CONTRIBUTIONS. 16 12 0 0 0 0 383286 836728 20917 20917 57796 90367 0 0 461999 948012 337335 276745 0 0 0 0 0 0 13170 53444 47795 390779 324540 71220 623472 5382290 6487265 0 0 5382290 6487265 X THE FOUNDATION IS A NONPROFIT CORPORATION FORMED TO SUPPORT THE PURPOSES AND PROMOTE THE FURTHER DEVELOPMENT OF THE OWENSBORO COMMUNITY AND TECHNICAL COLLEGE. THE FOUNDATION'S SUPPORT COMES PRIMARILY FROM CONTRIBUTIONS BY INDIVIDUALS, BUSINESSES AND LOCAL GOVERNMENTS. 0 0 276745 276745 20917 THE OWENSBORO COMMUNITY AND TECHNICAL COLLEGE FOUNDATION, INC. IS A NONPROFIT CORPORATION FORMED TO SUPPORT THE PURPOSES AND PROMOTE THE FURTHER DEVELOPMENT OF THE OWENSBORO COMMUNITY AND TECHNICAL COLLEGE. THE FOUNDATION'S SUPPORT COMES PRIMARILY FROM DONORS' CONTRIBUTIONS.THE FOUNDATION PROVIDES SCHOLARSHIPS TO STUDENTS AND FINANCIAL SUPPORT FOR VARIOUS PROGRAMS OF THE OWENSBORO COMMUNITY AND TECHNICAL COLLEGE. 276745 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 7 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 16 12 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 KY X GINA G SLOAN 2706864507 4800 NEW HARTFORD ROAD OWENSBORO KY 42303 X AMY JACKSON CHAIR 0.00 X X 0 0 0 JOSEPH W TAYLOR VICE CHAIR 0.00 X X 0 0 0 SCOTT L CLAY TREASURER 0.00 X X 0 0 0 DR VEENA SALLAN SECRETARY 0.00 40.00 X X 0 0 0 BARRY EMBRY BOARD MEMBER 0.00 X 0 0 0 MICHAEL FIORELLA BOARD MEMBER 0.00 X 0 0 0 DAVID M JOHNSON BOARD MEMBER 0.00 X 0 0 0 JEFF RICE BOARD MEMBER 0.00 X 0 0 0 TOM WATSON BOARD MEMBER 0.00 X 0 0 0 SHARLA WELLS BOARD MEMBER 0.00 X 0 0 0 DR SCOTT WILLIAMS COLLEGE PRESIDENT 0.00 40.00 X 0 0 0 DR MICHAEL RODGERS EXECUTIVE DIRECTOR 0.00 40.00 X 0 0 0 BERNADETTE TOYE HALE DIRECTOR OF PUBLIC RELATIO 0.00 40.00 X 0 0 0 BRANDON GILLES BOARD MEMBER 0.00 X 0 0 0 ANGIE MORRISON BOARD MEMBER 0.00 X 0 0 0 STEVE GARDNER BOARD MEMBER 0.00 X 0 0 0 0 0 0 0 0 0 0 0 14009 822719 836728 RENTAL INCOME RELATED 531120 20917 20917 20917 90367 90367 0 14009 0 0 948012 20917 0 90367 114707 114707 162038 162038 5000 5000 4614 4614 17958 4788 13170 4452 4452 1761 1761 427 427 6880 6880 4428 4428 BAD DEBT EXPENSE 2275 2275 324540 276745 34625 13170 636418 819406 14660 105099 5380 4372 2498 2500 191195 69124 128951 122071 4562725 5161702 31658 272115 5382290 6487265 0 0 X 358100 390879 5024190 6096386 5382290 6487265 5382290 6487265 623472 481503 0 X X 0 1 X 1 0 X 586189 270704 370124 383286 836728 2447031 586189 270704 370124 383286 836728 2447031 598495 1848536 96450 43248 85347 78713 111284 415042 2862073 0.64590 0.62050 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 4493657 29569 565542 26310 883 4614 5056961 5158432 15050 -643689 30496 732 4908 4493657 4089962 57620 1058028 41998 567 4613 5158432 3986844 65254 99250 47345 9936 4105 4089962 3556523 154646 316810 31154 6321 3660 3986844 0.00081 0.95972 0.03947 0 1 0 25000 25000 166195 69124 97071 122071 X 1184596 481503 481503 703093 244919 244919 948012 319926 0 319926 4614 4614 324540 PART X, LINE 2: EXPLANATION: THE OWENSBORO COMMUNITY AND TECHNICAL COLLEGE FOUNDATION, INC. ACCOUNTS FOR UNCERTAIN TAX POSITIONS IN ACCORDANCE WITH ASC TOPIC 740, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. ASC TOPIC 740 ADDRESSSES THE DETERMINATION OF TAX BENEFITS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION IS EXEMPT FROM THE PAYMENT OF TAXES ON INCOME OTHER THAN NET UNRELATED BUSINESS INCOME. NO TAX EXPENSE WAS RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS FOR THE YEARS ENDED JUNE 30, 2023 AND 2022, AS THERE WERE NO UNRELATED BUSINESS ACTIVITIES. ASC 740-10, INCOME TAXES, PROVIDES GUIDANCE FOR REPORTING UNCERTAINTY IN INCOME TAXES. THE ORGANIZATION HAS PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS FOR THE YEARS ENDED JUNE 30, 2023 AND 2022, AND DETERMINED THAT NO MATERIAL UNCERTAIN TAX POSITIONS QUALIFY FOR EITHER RECOGNITITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES NETTED AGAINST AUDIT REVENUES 4,614. PRIOR PERIOD ADJUSTMENT 240,305. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES NETTED AGAINST AUDIT REVENUES 4,614. 1 OWENSBORO COMMUNITY AND TECHNICAL COLLEGE 4800 NEW HARTFORD RD OWENSBORO KY 42303 611320380 501(C)(3) 114707 0 THE FOUNDATION SUPPORTS THE COLLEGE FACULTY EDUCATION, COLLEGE ACTIVITY FUNDING, PURCHASE OF EQUIPMENT, FUNDING PUBLIC RELATIONS, EMERGENCY STUDENT LOANS, AND STUDENT SCHOLARSHIPS. SCHOLARSHIPS AND STUDENT GRANTS 144 157648 FACULTY STIPENDS AND REIMBURSEMENT OF EXPENSES 16 4200 GED VOUCHERS 7 190 FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. PART X11, LINE 2C NO CHANGES WERE MADE IN EITHER THE AUDIT OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.