2025-03-17T08:48:48-05:00 2024-06-30 390758449 Wipfli LLP 30 Long Creek Drive South Portland ME 041062437 990 2023-07-01 010471173 Kennebec Valley Community College Foundation KENN 2074535020 92 Western Avenue Fairfield ME 049371367 Jennifer Casey Executive Director 2074535020 2025-03-16 1 1 Patrick Nicholas CPA P00289567 2077745701 2025-03-16 2023 2025-03-06 01:10:19Z John Dalton 92 Western Avenue Fairfield ME 049371367 2472953 0 X WWW.KVCC.ME.EDU X 1991 ME To raise funds for scholarships, facilities and support for Kennebec Valley Community College. 15 15 0 15 0 0 97882 337817 0 0 435964 156001 658 61867 534504 555685 291124 331160 0 0 76337 104128 0 0 55024 32390 59385 399851 494673 134653 61012 5562726 5977355 33832 67475 5528894 5909880 To provide scholarships to qualifying Kennebec Valley Community College (KVCC) students and financial support to the College to use in support of academic programs, capital investment and college operations. 0 0 304725 304725 0 Scholarships for KVCC Students. 26435 26435 0 Grants to KVCC for academic support and capital purposes. 331160 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 1 0 0 0 X Russell Begin 2074535123 92 Western Avenue Fairfield ME 049371367 John Dalton Chair 1.00 X X 0 0 0 Nancy Fotter Vice Chair 1.00 X X 0 0 0 Melissa Higgins 2nd Vice Chair 1.00 X X 0 0 0 Kelly Burbank Treasurer 1.00 X X 0 0 0 Karen Normandin Secretary 1.00 X X 0 0 0 Donald Borman Trustee 1.00 X 0 0 0 Tina Burnham Trustee 1.00 X 0 0 0 Dan Coffey Trustee 1.00 X 0 0 0 Tiffany Comis Trustee 1.00 X 0 0 0 David Dorr Trustee 1.00 X 0 0 0 Peter Hallen Trustee 1.00 X 0 0 0 Bruce Harrington Trustee 1.00 X 0 0 0 Arne Koch Trustee 1.00 X 0 0 0 Dwight Littlefield Trustee 1.00 X 0 0 0 Sara Sylvester Trustee 1.00 X 0 0 0 Jennifer Casey Executive Director 40.00 X 76148 0 27980 76148 0 27980 0 0 0 0 0 70000 267817 10799 337817 138716 138716 1894621 1877336 17285 17285 17285 101550 70000 39932 61618 61618 249 249 249 555685 0 0 217868 331160 331160 104128 62477 41651 10450 10450 31998 31998 8400 8400 333 333 2625 2625 Other Costs 5579 3564 2015 494673 331160 108489 55024 362059 420860 238225 0 281 439 4962161 5556056 5562726 5977355 33832 67475 33832 67475 X 166568 145760 5362326 5764120 5528894 5909880 5562726 5977355 61012 319974 0 X 0 1 X 1 0 X 205664 1380984 223236 97882 337817 2245583 205664 1380984 223236 97882 337817 2245583 1089628 1155955 109043 162257 109235 115685 138716 634936 61618 61618 2942137 907 0.39290 0.42210 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4962161 489908 473234 331160 38087 5556056 4670639 333794 292173 291124 43321 4962161 5021900 433781 -509091 159883 116068 4670639 3904292 294151 1083942 211596 48889 5021900 4187042 61490 -34245 286242 23753 3904292 0.00000 0.71000 0.29000 0 0 0 X 921524 319974 5933 325907 595617 -39932 -39932 555685 540538 5933 5933 534605 -39932 -39932 494673 Part V, Line 4: Endowment funds were awarded as scholarships to eligible recipients. Eligibility is governed by the wishes of each respective donor and screening process accomplished by College financial aid staff prior to award. Part X, Line 2: The Foundation has been determined to be exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. Management has determined that the Foundation has no uncertain tax positions that require adjustment to the financial statements. The Foundation is currently open to examination under the statute of limitations by the Internal Revenue Service for three years after the filing of the return. Part XI, Line 4b - Other Adjustments: Direct Fundraising Expenses -39,932. Part XII, Line 4b - Other Adjustments: Direct Fundraising Expenses -39,932. Jazz Gala 171550 70000 101550 39932 171550 70000 101550 39932 39932 61618 1 KVCC 92 Western Ave Fairfield ME 04937 010416015 501(C)(3) 331160 0 Scholarships & Support 1 0 SCHEDULE I, PART I, LINE 2 A review of all source documents is conducted by the registered agent and periodically by the Treasurer of the Foundation. All request for grants from KVCC are reviewed, approved and processed for payment. There is a segregation of duties between the approvers and the registered agent who actually processes the payments to the college. Form 990, Part VI, Section A, line 8b Line 9 explanation - The Foundation does not have any committee with the authority to act on behalf of the governing body. All committees are advisory in nature. Form 990, Part VI, Section B, line 11b The Foundation compares a draft copy of Form 990 prepared by an independent public accounting firm to the Foundation's audited financial statements. The return is then reviewed by interested members of the Board of Trustees. Form 990, Part VI, Section B, line 12c At the beginning of each meeting, the President of the Board of Trustees will ask if there are any conflicts of interest with any item on the agenda for that meeting. If there are no conflicts, the meeting proceeds uninterrupted. Form 990, Part VI, Section B, line 15 Compensation is paid by Kennebec Valley Community College and the Foundation reimburses the College for the compensation and related benefits and taxes. Form 990, Part VI, Section C, line 19 The Foundation makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.