2024-03-04T13:05:06-06:00 2023-06-30 420714325 RSM US LLP 5444 WADE PARK BLVD STE 350 RALEIGH NC 27607 990 2022-07-01 237017752 WAKE TECHNICAL COMMUNITY COLLEGE FOUNDATION WAKE 9198665924 9101 FAYETTEVILLE ROAD RALEIGH NC 27603 MATTHEW SMITH VP OF DEVELOPMENT 9198665924 2024-03-04 1 MATTHEW SMITH 999009999 0 TIM BURGESS P01693531 9197811055 2024-02-29 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MATTHEW SMITH 9101 FAYETTEVILLE ROAD RALEIGH NC 27603 14191678 0 X FOUNDATION.WAKETECH.EDU X 1968 NC THE WAKE TECH FOUNDATION PARTNERS WITH PRIVATE ENTITIES AND INDIVIDUALS TO RAISE AWARENESS, FINANCIAL RESOURCES, AND OTHER ASSETS IN SUPPORT OF WAKE TECHNICAL COMMUNITY COLLEGE'S MISSION, GOALS, AND FUNDING PRIORITIES. 24 21 8 21 0 0 4603126 4895892 18406 78320 1029598 -361398 92613 46259 5743743 4659073 794968 917665 0 0 260907 390852 0 0 11396 1770904 1972872 2826779 3281389 2916964 1377684 24851874 27817529 65420 61280 24786454 27756249 THE WAKE TECH FOUNDATION PARTNERS WITH PRIVATE ENTITIES AND INDIVIDUALS TO RAISE AWARENESS, FINANCIAL RESOURCES, AND OTHER ASSETS IN SUPPORT OF WAKE TECHNICAL COMMUNITY COLLEGE'S MISSION, GOALS, AND FUNDING PRIORITIES. 0 0 2197265 886939 SCHOLARSHIPS ARE MONETARY AWARDS TO STUDENTS AND MAY BE EARMARKED TO ASSIST DIPLOMA, CERTIFICATE, OR ASSOCIATE DEGREE STUDENTS IN ANY CURRICULUM PROGRAM OR CONTINUING EDUCATION, AND MAY BE BASED ON FINANCIAL NEED OR ACADEMIC MERIT ACCORDING TO DONOR PREFERENCE. BOTH THE CURRICULUM AND CONTINUING EDUCATION SCHOLARSHIPS ARE AWARDED THROUGH AN ONLINE SCHOLARSHIP ANONYMOUS APPLICATION PROCESS. STUDENT SCHOLARSHIPS RANGE FROM 100 - 3,000 PER YEAR AND FUNDING IS PROVIDED BY CORPORATIONS, INDIVIDUALS, GRANTS AND FOUNDATIONS. 332423 0 97653 FOSTERING BRIGHT FUTURES (FBF) PROGRAM IS A PUBLIC-PRIVATE PARTNERSHIP THAT ADDRESSES THE OVERWHELMING NEED FOR A COMPREHENSIVE SUPPORT STRUCTURE TO ASSIST FOSTER YOUTHS IN MAKING THE TRANSITION FROM THE WAKE COUNTY FOSTER CARE SYSTEM TO INDEPENDENT YOUNG ADULTHOOD. THE OBJECTIVE OF THE FBF PROGRAM IS TO ELIMINATE THE BARRIERS THAT WOULD TYPICALLY DERAIL THOSE GRADUATES FROM MEETING EDUCATIONAL AND LIFE GOALS BY PROVIDING FINANCIAL, ACADEMIC, AND SOCIAL SUPPORT. FUNDING IS PROVIDED BY CORPORATIONS, INDIVIDUALS, CIVIC CLUBS, GRANTS AND FOUNDATIONS. 192991 30726 TUITION ASSISTANCE PROGRAM ALLOWS WAKE TECH FACULTY AND STAFF TO STAY CURRENT AND PURSUE ADVANCED DEGREES, CAREER CREDENTIALS, AND PROFESSIONAL DEVELOPMENT. LEADERSHIP DEVELOPMENT GRANTS FOSTER COLLABORATION AND ENCOURAGE CREATIVE IDEAS. EMPLOYEES MUST SUBMIT AN APPLICATION FOR PRE-APPROVAL PRIOR TO THE SEMESTER/TERM OF ENROLLMENT. 2722679 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 X 0 0 8 1 0 0 0 0 0 0 0 0 0 1 0 0 0 X 24 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X X MATTHEW B SMITH 9198665924 9101 FAYETTEVILLE ROAD RALEIGH NC 27603 CANDIS PARKER CHAIR 1.00 X X 0 0 0 TIM BURGESS TREASURER 1.00 X X 0 0 0 WHITNEY WESTBROOK DIRECTOR 1.00 X 0 0 0 SCOTT RALLS SECRETARY 1.00 40.00 X X 0 369789 65327 MATT SMITH DIRECTOR 1.00 40.00 X 0 182432 22370 SCARLET EDWARDS DIRECTOR 1.00 40.00 X 0 128701 15672 ANGELA BOYKIN DIRECTOR 1.00 X 0 0 0 AUDREA CAESAR DIRECTOR 1.00 X 0 0 0 TOMESAH HARRISON DIRECTOR 1.00 X 0 0 0 NATALIE BEST DIRECTOR 1.00 X 0 0 0 CREIGHTON BLACKWELL DIRECTOR 1.00 X 0 0 0 KAREN SCHAEFER DIRECTOR 1.00 X 0 0 0 MARI SUZUKI DIRECTOR 1.00 X 0 0 0 BUZZ CROSBY DIRECTOR 1.00 X 0 0 0 TOMMY LAAKSO DIRECTOR 1.00 X 0 0 0 DANA MARTINEZ DIRECTOR 1.00 X 0 0 0 ANNA TISON DIRECTOR 1.00 X 0 0 0 NICK NEPTUNE DIRECTOR 1.00 X 0 0 0 SOPHIA WAJNERT DIRECTOR 1.00 X 0 0 0 KEVIN WALKER DIRECTOR 1.00 X 0 0 0 WILL SMITH DIRECTOR 1.00 X 0 0 0 ALISA WRIGHT COLOPY DIRECTOR 1.00 X 0 0 0 SHARMA VEMURI DIRECTOR 1.00 X 0 0 0 PAT WILKINS DIRECTOR 1.00 X 0 0 0 0 680922 103369 3 0 1 0 0 50000 4845892 441386 4895892 OTHER PROGRAM SERVICES 611710 78320 78320 78320 739781 739781 19333 19333 8300001 131425 9080369 452236 -780368 -320811 -1101179 -1101179 BAD DEBT RECOVERY 900099 19000 19000 OTHER INCOME 900099 7926 7926 26926 4659073 97653 0 -334472 917665 917665 36595 36595 354257 354257 30 30 18825 18825 66448 66448 184799 173399 11400 3496 346 1908 1242 68205 63303 4902 OTHER EXPENSES 920898 601210 309534 10154 SUPPLIES & EQUIPMENT 629009 612499 16510 EVENTS, TRAINING, & REC 81162 81162 3281389 2722679 547314 11396 3365292 3441219 2718732 3799835 128319 128319 0 0 15126795 16081594 921750 1939518 2719305 2555363 24851874 27817529 21 65399 61280 65420 61280 X 5073896 5826935 19712558 21929314 24786454 27756249 24851874 27817529 1377684 1592111 0 X 0 1 X 1 0 X X 1 WAKE TECHNICAL COMMUNITY COLLEGE 560792775 6 1 990858 0 1 990858 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 PART IV, SECTION C, LINE 1: THE PRESIDENT OF THE SUPPORTED ORGANIZATION IS ALSO A BOARD MEMBER OF WAKE TECHNICAL COMMUNITY COLLEGE FOUNDATION, THE SUPPORTING ORGANIZATION. THE PRESIDENT ASSISTS IN DIRECTING THE MISSION AND PROGRAM SERVICES OF THE SUPPORTING ORGANIZATION TO BE CLOSELY ALIGNED WITH THAT OF THE SUPPORTED ORGANIZATION. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13126689 3537279 556181 56037 17164112 12717255 1611101 -1185777 15890 13126689 9890505 1389702 2032221 595173 12717255 8240595 1699904 28092 78086 9890505 7465868 441751 332976 8240595 0.06781 0.77899 0.15321 1 0 128319 128319 0 0 US GOVT/AGENCY BOND 680557 F CORPORATE OBLIGATIONS 960007 F MUNICIPAL OBLIGATIONS 298954 F 1939518 CHARITABLE LEAD ANNUITY TRUST 1538184 LAND HELD FOR SALE 564125 RELATED PARTY RECEIVABLE 448000 SALES TAX RECEIVABLE 9505 INVESTMENT IN WAKE TECH INNOVATIONS -4451 2555363 CHARITABLE SPLIT ANNUITY PAYABLE 61280 61280 X 9384575 1592111 2898028 4490139 4894436 66448 -301811 -235363 4659073 6093969 2898028 2898028 3195941 66448 19000 85448 3281389 PART V, LINE 4: THE INTENDED USE OF ORGANIZATION ENDOWMENT FUNDS IS FOR SCHOLARSHIPS, CURRICULUM, BUILDING AND GROUNDS, AND THE FOSTERING BRIGHT FUTURES FELLOWSHIP. PART X, LINE 2: THE FOUNDATION HAS ADOPTED THE PROVISIONS OF FASB ASC 740-10-25 AS IT RELATES TO 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 FOUNDATION DOES NOT BELIEVE THERE ARE ANY MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, NO LIABILITY FOR UNRECOGNIZED TAX BENEFITS WILL BE RECORDED. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX YEARS IN PROGRESS. FOR THE YEARS ENDED JUNE 30, 2023 AND 2022, THERE WERE NO INTEREST OR PENALTIES RECORDED OR INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: BAD DEBT RECOVERY 19,000. LOSS ON SALE OF FIXED ASSETS -320,811. PART XII, LINE 4B - OTHER ADJUSTMENTS: BAD DEBT RECOVERY 19,000. 1 SCHOLARSHIPS, TUITION ASSISTANCE, GRANTS 1445 917665 PART I, LINE 2: GRANT MANAGER ADHERES TO GUIDELINES SET BY GRANT AGREEMENT. 0 0 0 0 0 0 0 0 0 SCOTT RALLS SECRETARY 0 369789 0 0 0 0 0 50004 0 15323 0 435116 0 0 MATT SMITH DIRECTOR 0 182432 0 0 0 0 0 7575 0 14795 0 204802 0 0 PART I, LINE 3 WAKE TECHNICAL COMMUNITY COLLEGE SETS AND PAYS ALL COMPENSATION FOR EMPLOYEES OF WAKE TECHNICAL COMMUNITY COLLEGE FOUNDATION X 0 X 0 X 0 X 5 39440 FMV X 0 X 0 X 272 17028 FMV X 0 X 0 X 0 X 0 X 0 X 0 X 0 X 0 X 0 X 0 X 0 X 0 X 0 X 0 X 0 X OTHER 1189 192911 FMV X MACHINERY & ELECTRONICS 131 187339 FMV X GIFT CARDS & TICKETS 56 4668 FMV X MISC 2023 0 FMV 0 0 0 0 PART I, COLUMN (B): THE NUMBER IN COLUMN (B) REFLECTS A COMBINATION OF THE NUMBER OF CONTRIBUTORS AND THE NUMBER OF ITEMS RECEIVED. FORM 990, PART V, LINE 2: SALARIES AND BENEFITS OF FOUNDATION EMPLOYEES ARE DONATED SERVICES FROM RELATED ORGANIZATION, WAKE TECHNICAL COMMUNITY COLLEGE. THE COLLEGE HANDLES ALL PAYROLL, BENEFITS AND RETIREMENT CONTRIBUTIONS FOR THE ORGANIZATION, AND ACCORDINGLY FILES FORMS W2 AND W3. AMOUNTS REPORTED ON THE FOUNDATION'S STATEMENT OF FUCTIONAL EXPENSES ARE PAID DIRECLY TO THE COLLEGE. FORM 990, PART VI, SECTION B, LINE 11B THE FORM IS REVIEWED BY THE BOARD OF DIRECTORS BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR HAS THE AFFIRMATIVE RESPONSIBILITY TO REPORT TO THE BOARD PRESIDENT OR THE EXECUTIVE DIRECTOR ANY AND ALL KNOWLEDGE OF ANY ACTION OR CONDUCT THAT APPEARS TO BE CONTRARY TO THE FOUNDATION'S CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION AHERES TO THE COMPENSATION POLICY OF ITS RELATED ORGANIZATION, WAKE TECHNICAL COMMUNITY COLLEGE, AS THE COLLEGE HANDLES ALL PAYROLL, BENEFITS AND RETIREMENT CONTRIBUTIONS FOR THE ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 THE WRITTEN CONFLICT OF INTEREST POLICY AND THE ORGANIZATION'S GOVERNING DOCUMENTS ARE AVAILAVLE TO THE PUBLIC UPON REQUEST. THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. LS SELMA LLC 9101 FAYETTEVILLE ROAD RALEIGH NC 27603 LAND MGMT NC 0 0 WAKE TECH COMMUNITY COLLEGE FOUNDATION INC WAKE TECHNICAL COMMUNITY COLLEGE 9101 FAYETTEVILLE ROAD RALEIGH NC 27603 560792775 EDUCATION NC GOVERNMENT UNIT N/A 0 WAKE TECH INNOVATIONS INC 9101 FAYETTEVILLE ROAD RALEIGH NC 27603 611685566 SOLAR ELECTRIC NC WAKE TECH CC FOUNDATION INC C 73707 389753 1.00000 1 0 0 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0