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Nonprofit · EIN 20-8407010

MHC ACADEMIC FOUNDATION

Tax-exempt · MARTINSVILLE, VA 24112

Financials

$763K$284K2023$1.2M$295K2024
Revenue Expenses · by fiscal year end
Financials of MHC ACADEMIC FOUNDATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$1,196,414$295,020$901,394$16,118,675$2,061$16,116,614
June 30, 2024990$763,302$283,883$479,419$14,498,458$7,154$14,491,304
Financial details: 990 for the year ended June 30, 2025

Revenue

Contributions, gifts and grants
$3,000
Program service revenue
$0
Investment income
$1,193,414
Net gain from sales of assets
$849,015
Other revenue
$0

Expenses

Grants and similar amounts paid
$51,000
Compensation of officers, directors and key employees
$76,200
Other salaries and wages
$1,542
Salaries, compensation and benefits (total)
$90,233
Professional fundraising fees
$0
Legal fees
$79,357
Accounting fees
$15,550
Occupancy
$3,600
Travel
$3,557
Program services (functional)
$70,813
Management and general (functional)
$224,207

Balance sheet and other

Total assets, start of year
$14,498,458
Total assets, end of year
$16,118,675
Total liabilities, end of year
$2,061
Net assets, end of year
$16,116,614
Publicly traded securities
$15,508,242
Net assets without donor restrictions
$14,166,501
Net assets with donor restrictions
$1,950,113
Gross receipts
$3,316,549
Employees
2
Year formed
2006
State of legal domicile
VA

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended June 30, 2025, highest compensation first.

NameTitleHours / weekCompensation
KEVIN DEKONINCKExecutive Dir.
Officer
40$78,600
SIMONE REDDCHAIRWOMAN
Trustee or director, Officer
1.5$1,200
CARY WRIGHTMEMBER
Trustee or director
1.5$0
SCHNIKA HODGESecretary
Trustee or director, Officer
1.5$0
DR JAMES ROUNTREEVICE CHAIR
Trustee or director, Officer
1.5$0
JONATHAN MARTINTreasurer
Trustee or director, Officer
1.5$0
990 for the year ended June 30, 2024: 7 people
NameTitleHours / weekCompensation
KEVIN DEKONINCKExecutive Dir.
Officer
40$78,500
SIMONE REDDCHAIRWOMAN
Trustee or director, Officer
1.5$1,200
CARY WRIGHTMEMBER
Trustee or director
1.5$0
SCHNIKA HODGESecretary
Trustee or director, Officer
1.5$0
DR JAMES ROUNTREEVICE CHAIR
Trustee or director, Officer
1.5$0
JONATHAN MARTINTreasurer
Trustee or director, Officer
1.5$0
DR RACHEL HODGEMEMBER
Trustee or director
1.5$0

Address and contacts

Address (IRS master file)
5 E CHURCH ST, MARTINSVILLE, VA 24112-6232
Signed the 990
KEVIN DEKONINCK, Executive Director
Phone
(276) 403-4445
Return prepared by
FOTI FLYNN LOWEN & CO PC

Mission

TO PROVIDE FINANCIAL AND OTHER SUPPORT FOR THE DISSEMINATION OF EDUCATION IN MARTINSVILLE AND HENRY COUNTY, VIRGINIA, INCLUDING BUT NOT LIMITED TO SUPPORT OF NEW COLLEGE INSTITUTE.

990 for the year ended June 30, 2025

Program accomplishments

  • FOUNDATION ENCOURAGED AND COORDINATED THE DEVELOPMENT AND DELIVERY OF DEGREE PROGRAMS AND OTHER CREDIT AND NON-CREDIT COURSES FOR THE PURPOSE OF SATISFYING STATEWIDE CRITICAL SHORTAGE AREAS AND INDUSTRY NEEDS. THIS WAS ACCOMPLISHED BY PROVIDING DIRECT AND INDIRECT SUPPORT TO NEW COLLEGE INSTITUTE AND TO THOSE STUDENTS ATTENDING.
    Expenses $70,813

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025990 on file
2023June 30, 2024November 15, 2024990 on file

IRS record

EIN
20-8407010
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Organization supporting a government college or university
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2007
Accounting year ends
June
Files
Form 990 or 990-EZ
Category (NTEE)
Education (B114)
Assets (IRS master file)
$16,118,675
Income (IRS master file)
$3,316,549

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2025–––IRS
990June 2024$763,302$283,883$14,498,458IRS
990June 2023$669,738$320,979$13,028,839IRS
990June 2022–––IRS
990June 2021–––IRS
990June 2020–––IRS
990June 2019–––IRS

990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.

Questions about MHC ACADEMIC FOUNDATION

What is the EIN of MHC ACADEMIC FOUNDATION?
The employer identification number (EIN) of MHC ACADEMIC FOUNDATION is 20-8407010.
Is MHC ACADEMIC FOUNDATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2007.
Are donations to MHC ACADEMIC FOUNDATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does MHC ACADEMIC FOUNDATION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of MHC ACADEMIC FOUNDATION due?
The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did MHC ACADEMIC FOUNDATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended June 2025.
Who are the officers and directors of MHC ACADEMIC FOUNDATION?
The 990 for the year ended June 30, 2025 lists 6 people; 2 received compensation from the organization, the highest $78,600 (KEVIN DEKONINCK, Executive Dir.).
How much revenue does MHC ACADEMIC FOUNDATION have?
On its 990 for the year ended June 30, 2025 it reported revenue of $1,196,414, expenses of $295,020 and total assets of $16,118,675 at year end.

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