2025-02-20T09:03:21-06:00 2024-06-30 844233121 SHARPE PATEL CPA 5510 SIX FORKS ROAD SUITE 140 RALEIGH NC 27609 990 2023-07-01 581308578 CAPE FEAR COMMUNITY COLLEGE FOUNDATION INC CAPE 9103627101 411 NORTH FRONT STREET WILMINGTON NC 28401 DR JANIE CANTY-MITCHELL CHAIR 9103627101 2025-02-18 1 1 REBECCA FISHER P01690017 7044993893 2025-02-18 2023 2025-03-06 01:10:19Z DR JANIE CANTY-MITCHELL 411 NORTH FRONT STREET WILMINGTON NC 28401 28756736 0 X HTTPS://CFCC.EDU/FOUNDATION/ X 1969 NC TO PROVIDE SCHOLARSHIPS FOR COLLEGE STUDENTS AND TO SUPPORT THE PROGRAMS OF CAPE FEAR COMMUNITY COLLEGE. 18 18 0 18 0 0 3454015 11235353 0 0 339292 3897577 -12686 0 3780621 15132930 667709 957243 0 0 0 0 0 0 54712 937680 2497120 1605389 3454363 2175232 11678567 19282538 29644658 110780 517031 19171758 29127627 TO PROVIDE SCHOLARSHIPS FOR COLLEGE STUDENTS AND TO SUPPORT THE PROGRAMS OF CAPE FEAR COMMUNITY COLLEGE. 0 0 957243 957243 SCHOLARSHIPS TO STUDENTS AT CAPE FEAR COMMUNITY COLLEGE AND MINI-GRANTS TO INSTRUCTORS, BASED ON DOCUMENTED CRITERIA. 1822234 DONATIONS OF CASH TO CAPE FEAR COMMUNITY COLLEGE FOR EDUCATIONAL SUPPORT AND FOR VARIOUS SERVICES AND IMPROVEMENTS AND TO ASSIST IN GENERATING CASH AND NON-CASH SUPPORT FROM BUSINESSES AND INDIVIDUALS TO HELP FURTHER THE PROGRAMS OF THE COLLEGE. DONATIONS OF NON-CASH ITEMS TO CAPE FEAR COMMUNITY COLLEGE TO HELP FURTHER THE PROGRAMS OF THE COLLEGE. 2779477 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X TERESA HUFFMON 9103627101 411 NORTH FRONT STREET WILMINGTON NC 28401 X DR JANIE CANTY-MITCHELL CHAIR 1.00 X X 0 0 0 JENNIFER CRANFORD VICE CHAIR 1.00 X X 0 0 0 TERESA HUFFMON FINANCE CHAIR 1.00 X X 0 0 0 BILL BAGGETT DIRECTOR 1.00 X 0 0 0 TIFFANY BARLOW DIRECTOR 1.00 X 0 0 0 HANNAH HOLT DIRECTOR 1.00 X 0 0 0 MARY ELLEN BONCZEK DIRECTOR 1.00 X 0 0 0 GEORGE JOHNSON DIRECTOR 1.00 X 0 0 0 DR MICHAEL PENLAND DIRECTOR 1.00 X 0 0 0 DR EDWARD RICCIARDELLI DIRECTOR 1.00 X 0 0 0 DR RUDI RICHMAND DIRECTOR 1.00 X 0 0 0 HOWARD STEIN DIRECTOR 1.00 X 0 0 0 INZA WALSTON DIRECTOR 1.00 X 0 0 0 JACK FULLER DIRECTOR 1.00 X 0 0 0 MAGGIE STARGELL DIRECTOR 1.00 X 0 0 0 MATT WHITE DIRECTOR 1.00 X 0 0 0 LANDON ZIMMER DIRECTOR 1.00 X 0 0 0 LOUISE MCCOLL DIRECTOR 1.00 X 0 0 0 0 0 0 0 0 0 0 0 11235353 102363 11235353 731724 731724 16789659 13623806 3165853 3165853 3165853 15132930 0 0 3897577 X 957243 957243 12106 981 7446 3679 38273 38273 22520 1824 13852 6844 1757 190 1441 126 80774 8722 66241 5811 67965 7340 55736 4889 1971 160 1212 599 WILSON CENTER 1148620 1148620 CFCC DIRECT SUPPORT 589007 589007 TRANSFERS TO COLLEGE 284095 284095 BAD DEBT 88867 88867 161165 65390 63011 32764 3454363 2779477 620174 54712 3534345 4287748 1662683 299883 210399 15158 14958555 23310676 489755 157994 19282538 29644658 110780 517031 110780 517031 X 806891 1084348 18364867 28043279 19171758 29127627 19282538 29644658 11678567 -1722698 0 X 0 1 X 1 1 1 X 1077573 2752949 2645244 3454015 11235353 21165134 436912 442452 879364 1514485 2752949 3087696 3454015 11235353 22044498 521110 21523388 244651 396680 561415 465510 731724 2399980 24444478 0.88050 0.81300 X 15034396 6619357 2108569 451646 23310676 12982976 1258869 1227871 435320 15034396 15748396 727461 -2281505 1211376 12982976 11291452 2177532 3195451 916039 15748396 11199325 241850 373174 522897 11291452 0.78260 0.21740 0 0 0 X 13935213 -1722698 563254 -1159444 15094657 38273 38273 15132930 3979344 563254 563254 3416090 38273 38273 3454363 PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM INCOME TAXES AS A NOT-FOR-PROFIT ORGANIZATION UNDER INTERNAL REVENUE SERVICE ("IRS") CODE SECTION 501(C)(3). DURING THE YEARS ENDED JUNE 30, 2024 AND 2023, THE FOUNDATION REPORTED NO UNRELATED BUSINESS TAXABLE INCOME WHICH IS DEFINED BY THE IRS AS GROSS INCOME DERIVED FROM ANY UNRELATED TRADE OR BUSINESS THAT IS NOT SUBSTANTIALLY RELATED TO THE ORGANIZATION'S TAX-EXEMPT PURPOSE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED. THE FOUNDATION ADOPTED THE PROVISIONS OF FASB ASC 740-10-25 ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. UNDER THIS PROVISION, AN ORGANIZATION MUST RECOGNIZE THE TAX BENEFIT ASSOCIATED WITH TAX TAKEN FOR TAX RETURN PURPOSES WHEN IT IS MORE LIKELY THAN NOT THE POSITION WILL BE SUSTAINED. THE IMPLEMENTATION HAD NO IMPACT ON THE FOUNDATION'S FINANCIAL STATEMENTS. THE FOUNDATION DOES NOT BELIEVE THERE ARE ANY MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, IT WILL NOT RECOGNIZE ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX YEARS IN PROGRESS. THE FOUNDATION BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR THE YEARS PRIOR TO 2019. AT JUNE 30, 2024 AND 2023, THE FOUNDATION HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. 1 SCHOLARSHIPS FOR STUDENTS 251 957243 PART I, LINE 2: THE FOUNDATION WORKS WITH THE COLLEGE AND THE FINANCIAL AID OFFICE OF THE COLLEGE TO MONITOR USE OF CASH AND NON-CASH GRANTS TO THE COLLEGE AND CASH GRANTS FOR SCHOLARSHIPS TO STUDENTS AND MINI GRANTS TO INSTRUCTORS. X 2101 X 5 83072 X 2 2500 X MACHINERY 3 9195 X TOOLS/EQUIPMENT 2 5000 X ENTERTAINMENT (TICKETS) 4 495 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED AND APPROVED BY THE EXECUTIVE DIRECTOR OF THE FOUNDATION AND THE CFCC VICE PRESIDENT OF BUSINESS SERVICES. IT IS THEN FILED AND A COPY OF THE 990 IS PRESENTED AT THE NEXT QUARTERLY BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION HAS IMPLEMENTED A CONFLICT OF INTEREST POLICY AND HAS EACH BOARD MEMBER SIGN ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE EXECUTIVE DIRECTOR, VICE PRESIDENT OF ADVANCEMENT AND THE ARTS, AND OTHER STAFF IS DETERMINED BY AND PAID BY CAPE FEAR COMMUNITY COLLEGE, A RELATED ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, POLICIES, FINANCIAL STATEMENTS AND INFORMATIONAL 990 ARE AVAILABLE TO THE PUBLIC, BY REQUEST, AT THE FOUNDATION OFFICE. FORM 990, PART IX, LINE 24E PAYROLL SUPPORT: PROGRAM SERVICE EXPENSES 47,076. MANAGEMENT AND GENERAL EXPENSES 21,010. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 68,086. SPECIAL PURPOSE FUND: PROGRAM SERVICE EXPENSES 16,441. MANAGEMENT AND GENERAL EXPENSES 27,781. FUNDRAISING EXPENSES 151. TOTAL EXPENSES 44,373. FUNDRAISING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 25,585. TOTAL EXPENSES 25,585. DONOR RELATIONS: PROGRAM SERVICE EXPENSES 1,084. MANAGEMENT AND GENERAL EXPENSES 8,229. FUNDRAISING EXPENSES 4,066. TOTAL EXPENSES 13,379. MISCELLANEOUS: PROGRAM SERVICE EXPENSES 789. MANAGEMENT AND GENERAL EXPENSES 5,991. FUNDRAISING EXPENSES 2,962. TOTAL EXPENSES 9,742. CAPE FEAR COMMUNITY COLLEGE 411 NORTH FRONT STREET WILMINGTON NC 28401 560792881 EDUCATION NC 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 CAPE FEAR COMMUNITY COLLEGE R 102363 FAIR MARKET VALUE CAPE FEAR COMMUNITY COLLEGE B 1148620 ACTUAL AMOUNT CAPE FEAR COMMUNITY COLLEGE O 152139 ACTUAL AMOUNT CAPE FEAR COMMUNITY COLLEGE B 957243 ACTUAL AMOUNT CAPE FEAR COMMUNITYH COLLEGE N 563254 ACTUAL AMOUNT