Nonprofit · EIN 54-1547596
MOUNTAIN GATEWAY COMMUNITY COLLEGE EDUCATIONAL FOUNDATION
Tax-exempt · CLIFTON FORGE, VA 24422
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $856,611 | $626,485 | $230,126 | $9,987,385 | $4,039 | $9,983,346 |
| December 31, 2023 | 990 | $433,611 | $664,145 | -$230,534 | $9,295,899 | $48,550 | $9,247,349 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $389,067
- Program service revenue
- $0
- Investment income
- $457,718
- Net gain from sales of assets
- $171,771
- Other revenue
- $9,826
Expenses
- Grants and similar amounts paid
- $264,077
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $18,045
- Program services (functional)
- $458,964
- Management and general (functional)
- $116,241
- Fundraising (functional)
- $51,280
Balance sheet and other
- Total assets, start of year
- $9,295,899
- Total assets, end of year
- $9,987,385
- Total liabilities, end of year
- $4,039
- Net assets, end of year
- $9,983,346
- Publicly traded securities
- $9,124,107
- Net assets without donor restrictions
- $1,413,471
- Net assets with donor restrictions
- $8,569,875
- Gross receipts
- $856,611
- Employees
- 0
- Volunteers
- 21
- Year formed
- 1980
- 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 December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DR JOHN RAINONE | BOARD SECRETARY/COLLEGE PR Trustee or director, Officer | 1 | $0 |
| JOHN STONE | PRESIDENT Trustee or director, Officer | 2 | $0 |
| LOIS SWITZER | 1ST VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| DONNA BEIRNE | 2ND VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| KATHY BRYANT | TREASURER Trustee or director, Officer | 1 | $0 |
| NICK MOGA | PAST PRESIDENT Trustee or director | 1 | $0 |
| MARGARET BURKS | BOARD MEMBER Trustee or director | 1 | $0 |
| TAMMY SCRUGGS-DUNCAN | BOARD MEMBER Trustee or director | 1 | $0 |
| SUSAN FRISKI | BOARD MEMBER Trustee or director | 1 | $0 |
| JULIE GOYETTE | BOARD MEMBER Trustee or director | 1 | $0 |
| NICOLE GUMM-GROSECLOSE | BOARD MEMBER Trustee or director | 1 | $0 |
| REBECCA JOHNSON | BOARD MEMBER Trustee or director | 1 | $0 |
| HELEN E KOSTEL | BOARD MEMBER Trustee or director | 1 | $0 |
| JEFFREY LINGERFELT | BOARD MEMBER Trustee or director | 1 | $0 |
| RAY LIPES | BOARD MEMBER Trustee or director | 1 | $0 |
7 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| PAMELA MADISON | BOARD MEMBER Trustee or director | 1 | $0 |
| ELAINE NELSON | BOARD MEMBER Trustee or director | 1 | $0 |
| DONNA VAUGHN | BOARD MEMBER Trustee or director | 1 | $0 |
| STEVE VAUGHN | BOARD MEMBER Trustee or director | 1 | $0 |
| DEBORAH WEDDLE | BOARD MEMBER Trustee or director | 1 | $0 |
| WILLIAM T WILSON | BOARD MEMBER Trustee or director | 1 | $0 |
| AMY PHILLIPS | EXECUTIVE DIRECTOR Officer | 26 | $0 |
990 for the year ended December 31, 2023: 22 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DR JOHN RAINONE | BOARD SECRETARY/COLLEGE PRESIDENT Trustee or director, Officer | 1 | $0 | $186,403 | $21,916 |
| AMY PHILLIPS | EXECUTIVE DIRECTOR Officer | 26 | $0 | $70,544 | $28,212 |
| JOHN STONE | PRESIDENT Trustee or director, Officer | 2 | $0 | $0 | $0 |
| LOIS SWITZER | 1ST VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| DONNA BEIRNE | 2ND VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KATHY BRYANT | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| NICK MOGA | PAST PRESIDENT Trustee or director | 1 | $0 | $0 | $0 |
| MARGARET BURKS | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| TAMMY SCRUGGS DUNCAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| SUSAN FRISKI | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| JULIE GOYETTE | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| NICOLE GUMM-GROSECLOSE | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| REBECCA JOHNSON | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| HELEN E KOSTEL | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| JEFFREY LINGERFELT | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| RAY LIPES | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| PAMELA MADISON | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| ELAINE NELSON | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| DONNA VAUGHN | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| STEVE VAUGHN | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| DEBORAH WEDDLE | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| WILLIAM T WILSON | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1000 COLLEGE DR, CLIFTON FORGE, VA 24422-3310
- In care of
- % JODI BURGESS ADMIN ASST
- Principal officer (990 for 2024)
- BRUCE LOVING, 1000 COLLEGE DRIVE, CLIFTON FORGE, VA 244223310
- Signed the 990
- BRUCE LOVING, EXECUTIVE DIRECTOR
- Phone
- (540) 863-2837
- Website
- WWW.MGCC.EDU/FOUNDATION
- Return prepared by
- BROWN EDWARDS & COMPANY LLP
Mission
TO SUPPORT MOUNTAIN GATEWAY COMMUNITY COLLEGE BY HELPING TO PROVIDE AN ACCESSIBLE, QUALITY EDUCATION FOR STUDENTS IN THE SERVICE AREA OF THE COMMUNITY COLLEGE, WHILE ALSO PROVIDING FACULTY GRANTS AND PURCHASING NEW EQUIPMENT AND TECHNOLOGY FOR CLASSROOM USE.
Program accomplishments
- PROVIDE SCHOLARSHIPS, GRANTS AND PROGRAM SUPPORT TO STUDENTS, FACULTY AND ACADEMIC DEPARTMENTS OF MOUNTAIN GATEWAY COMMUNITY COLLEGE. THE FOUNDATION ADMINISTERS APPROXIMATELY 85 ENDOWED AND NON-ENDOWED SCHOLARSHIP AND GRANT FUNDS. THE EXPENSE TOTALS DO NO INCLUDE THE VALUE OF DONATED FACILITIES.Expenses $458,964 · grants $264,077 · revenue $856,546
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 December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 54-1547596
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1982
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T31)
- Assets (IRS master file)
- $9,987,385
- Income (IRS master file)
- $856,611
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $856,611 | $626,485 | $9,987,385 | IRS |
| 990 | December 2023 | $433,611 | $664,145 | $9,295,899 | XML |
| 990 | December 2022 | $1,206,418 | $798,694 | $8,824,532 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 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 (search EIN 54-1547596).
Questions about MOUNTAIN GATEWAY COMMUNITY COLLEGE EDUCATIONAL FOUNDATION
- What is the EIN of MOUNTAIN GATEWAY COMMUNITY COLLEGE EDUCATIONAL FOUNDATION?
- The employer identification number (EIN) of MOUNTAIN GATEWAY COMMUNITY COLLEGE EDUCATIONAL FOUNDATION is 54-1547596.
- Is MOUNTAIN GATEWAY COMMUNITY COLLEGE EDUCATIONAL FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1982.
- Are donations to MOUNTAIN GATEWAY COMMUNITY COLLEGE EDUCATIONAL FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MOUNTAIN GATEWAY COMMUNITY COLLEGE EDUCATIONAL 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 MOUNTAIN GATEWAY COMMUNITY COLLEGE EDUCATIONAL FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MOUNTAIN GATEWAY COMMUNITY COLLEGE EDUCATIONAL FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of MOUNTAIN GATEWAY COMMUNITY COLLEGE EDUCATIONAL FOUNDATION?
- The 990 for the year ended December 31, 2024 names BRUCE LOVING.
- Who are the officers and directors of MOUNTAIN GATEWAY COMMUNITY COLLEGE EDUCATIONAL FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 22 people; 0 received compensation from the organization.
- How much revenue does MOUNTAIN GATEWAY COMMUNITY COLLEGE EDUCATIONAL FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $856,611, expenses of $626,485 and total assets of $9,987,385 at year end.
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