2024-12-13T00:13:39-06:00 2024-06-30 560571159 BERNARD ROBINSON & COMPANY LLP PO BOX 19608 GREENSBORO NC 274199608 990 2023-07-01 561070364 FORSYTH TECHNICAL COMMUNITY COLLEGE FOUNDATION INC FORS 3367347540 2100 SILAS CREEK PARKWAY WINSTONSALEM NC 27103 DOUGLAS EVANS EXECUTIVE DIRECTOR 3367347540 2024-12-11 1 0 JOHN M ROBINSON P01281319 3362944494 2024-11-20 2023 2024-10-15 13:58:12Z DOUGLAS EVANS 2100 SILAS CREEK PARKWAY WINSTONSALEM NC 27103 4981447 0 X WWW.FORSYTHTECH.EDU X 1973 NC THE PURPOSES OF THE FOUNDATION ARE TO FOSTER PUBLIC UNDERSTANDING OF, AND SUPPORT FOR, FORSYTH TECHNICAL COMMUNITY COLLEGE AND TO SOLICIT AND PROMOTE DONATIONS OF ANY KIND FOR THE EXCLUSIVE BENEFIT OF THE COLLEGE. 13 11 0 11 0 0 1937170 1170710 0 0 414200 562149 0 -4536 2351370 1728323 2400632 1592676 0 0 0 0 12500 0 4904 147922 133439 2561054 1726115 -209684 2208 14533335 15627083 4329 25025 14529006 15602058 THE PURPOSES OF THE FOUNDATION ARE TO FOSTER PUBLIC UNDERSTANDING OF, AND SUPPORT FOR, FORSYTH TECHNICAL COMMUNITY COLLEGE AND TO SOLICIT AND PROMOTE DONATIONS OF ANY KIND FOR THE EXCLUSIVE BENEFIT OF THE COLLEGE. 0 0 466512 466512 VARIOUS ENDOWMENTS AND SCHOLARSHIPS AWARDED TO STUDENTS AT FORSYTH TECHNICAL COMMUNITY COLLEGE TO HELP FINANCE THEIR HIGHER EDUCATION AND ENHANCE THE COMMUNITY THROUGH THIS EDUCATION. 1136541 1126164 CONTRIBUTIONS TO FORSYTH TECHNICAL COMMUNITY COLLEGE FOR THE SUPPORT OF THEIR OVER 275 (236 CURRICULUM) EDUCATIONAL PROGRAMS PROVIDED TO OVER 11,800 CREDIT STUDENTS AND 9,000 CORPORATE AND CONTINUING EDUCATION STUDENTS. 1603053 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 21 0 1 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 13 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X FORSYTH TECHNICAL COMMUNITY COLLEGE 3367347450 2100 SILAS CREEK PARKWAY WINSTONSALEM NC 27103 DR JANET SPRIGGS SECRETARY 1.00 40.00 X X 0 295927 95810 KIZZY LEA TREASURER 1.00 40.00 X X 0 177085 54372 CHARLES CORPENING IMMEDIATE PAST CHAIR 1.00 X X 0 0 0 GINGER SALT DIRECTOR 1.00 X 0 0 0 BRENT COLLINS CHAIR 1.00 X X 0 0 0 PRECIOUS QUIRE-MCCLOUD FIRST VICE CHAIR 1.00 X X 0 0 0 BETH BALDWIN DIRECTOR 1.00 X 0 0 0 SHERRY CARPENTER DIRECTOR 1.00 X 0 0 0 BRAJAN FUNES DIRECTOR 1.00 X 0 0 0 EDWARD GRIGGS DIRECTOR 1.00 X 0 0 0 STEPHAN LILLIE DIRECTOR 1.00 X 0 0 0 BEN CARSON DIRECTOR 1.00 X 0 0 0 ANN WATTS DIRECTOR 1.00 X 0 0 0 DOUGLAS EVANS EXECUTIVE DIRECTOR 32.00 8.00 X 0 77728 18123 0 550740 168305 0 0 1 0 0 86125 20000 1064585 106995 1170710 420003 420003 3383309 3241163 142146 142146 142146 7425 86125 11961 -4536 -4536 1728323 0 0 557613 1513405 1513405 79271 79271 9300 9300 52769 52769 13131 12631 500 996 810 186 39430 39430 10512 10377 135 MISCELLANEOUS EXPENSE 7301 3083 4218 1726115 1603053 118158 4904 111935 141739 3644640 3310440 24525 7775 23053 6419 1741 8554 79000 79000 79000 10553752 12073156 94689 0 14533335 15627083 4329 25 0 25000 4329 25025 X 3648630 3722864 10880376 11879194 14529006 15602058 14533335 15627083 X 2208 1102894 -32050 0 X 0 1 X 1 0 X 1006699 1161267 1755677 1937170 1084585 6945398 1006699 1161267 1755677 1937170 1084585 6945398 2018267 4927131 492424 437645 646662 436943 420003 2433677 9379075 0.52530 0.39130 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9073495 194142 1329602 46335 100845 45387 10404672 8337161 235117 709020 59892 111347 36564 9073495 9644626 109500 -1156141 129365 86927 44532 8337161 6871203 1132661 1847602 61352 107309 38179 9644626 6949005 29631 74013 61746 84744 34956 6871203 0.10850 0.66905 0.22245 0 0 79000 79000 79000 X 2790409 1102894 -52769 1050125 1740284 -11961 -11961 1728323 1685307 11961 11961 1673346 52769 52769 1726115 PART V, LINE 4: THE FOUNDATION'S ENDOWMENT CONSISTS OF 63 INDIVIDUAL DONOR-RESTRICTED ENDOWMENT FUNDS AND 1 QUASI-ENDOWMENT ESTABLISHED FOR A VARIETY OF PURPOSES. PART X, LINE 2: IT IS THE FOUNDATION'S POLICY TO EVALUATE ALL TAX POSITIONS TO IDENTIFY ANY THAT MAY BE CONSIDERED UNCERTAIN. ALL IDENTIFIED MATERIAL TAX POSITIONS ARE ASSESSED AND MEASURED BY A MORE-LIKELY-THAN-NOT THRESHOLD TO DETERMINE IF THE TAX POSITION IS UNCERTAIN AND WHAT, IF ANY, THE EFFECT OF THE UNCERTAIN TAX POSITION MAY HAVE ON THE FINANCIAL STATEMENTS. NO MATERIAL UNCERTAIN TAX POSITIONS WERE IDENTIFIED FOR 2024 AND 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: INVESTMENT EXPENSES INCLUDED IN REVENUE ON FINANCIAL STATEMENTS -52,769. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES -11,961. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES 11,961. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES 52,769. LUNCHEON 93550 86125 7425 100 11109 752 93550 86125 7425 100 11109 752 11961 -4536 1 FORSYTH TECHNICAL COMMUNITY COLLEGE 2100 SILAS CREEK PARKWAY WINSTON SALEM NC 27103 560792614 501(C)3 944828 102065 FAIR MARKET VALUE EDUCATIONAL SUPPLIES AND EQUIPMENT EDUCATION PROGRAMS; INSTITUTIONAL SUPPORT FORSYTH TECHNICAL COMMUNITY COLLEGE 2100 SILAS CREEK PARKWAY WINSTON SALEM NC 27103 560792614 501(C)3 466512 0 SCHOLARSHIPS 1 0 GRANTS TO FORSYTH TECHNICAL COMMUNITY COLLEGE FACULTY AND STAFF 6 6771 GRANTS TO SMALL BUSINESS OWNERS IN FORSYTH COUNTY, NC 34 72500 PART I, LINE 2: THE ORGANIZATION MAKES GRANTS ONLY TO A RELATED ORGANIZATION, FORSYTH TECHNICAL COMMUNITY COLLEGE. THE ORGANIZATION ALSO MAKES GRANTS TO SMALL BUSINESS OWNERS IN FORSYTH COUNTY, IN KEEPING WITH THE COLLEGE'S PROGRAMMING AND MISSION. THE SMALL BUSINESS CENTER NETWORK USES A CLIENT MANAGEMENT SYSTEM TO FOLLOW UP WITH CLIENTS WHO HAVE RECEIVED GRANT FUNDS. THE DETAILS OF USE AND THE ADDED IMPACT THAT RESULTED FROM THE USE OF THE FUNDS IS RECORDED THREE AND SIX MONTHS AFTER RECEIVING THE FUNDS, IF NOT MORE. 0 0 0 0 0 0 0 0 0 DR JANET SPRIGGS SECRETARY 0 295927 0 0 0 0 0 86734 0 9076 0 391737 0 0 KIZZY LEA TREASURER 0 177085 0 0 0 0 0 46436 0 7936 0 231457 0 0 X 12 FAIR MARKET VALUE X 4 53725 FAIR MARKET VALUE X 1 4930 FAIR MARKET VALUE X 268 981 FAIR MARKET VALUE X USED MEDICAL LAB EQUIPMENT 3 23500 FAIR MARKET VALUE X MANUFACTURING PALLETS 5028 22626 FAIR MARKET VALUE X CONFERENCE PRESENTER GIFTS 146 827 FAIR MARKET VALUE X PERSONAL CARE ITEMS 155 394 FAIR MARKET VALUE 1 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B AN ELECTRONIC COPY OF THE FULL FORM 990 IS REVIEWED BY THE ENTIRE BOARD OF DIRECTORS BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, ALL OFFICERS AND BOARD MEMBERS ARE REQUIRED TO REVIEW AND SIGN A CONFLICT OF INTEREST STATEMENT, WHICH INCLUDES MAKING A WRITTEN DISCLOSURE TO THE EXECUTIVE DIRECTOR OF THE FOUNDATION AND THE CHAIR OF THE BOARD OF DIRECTORS OF ALL POTENTIAL CONFLICTS OF INTEREST. THE EXECUTIVE DIRECTOR OF THE FOUNDATION WILL ALSO REVIEW ALL DISCLOSURE STATEMENTS COMPLETED BY KEY EMPLOYEES AND THE CHAIR OF THE BOARD WILL REVIEW ALL DISCLOSURE STATEMENTS COMPLETED BY DIRECTORS AND THE EXECUTIVE DIRECTOR OF THE FOUNDATION TO DETERMINE APPROPRIATE RESOLUTION IN ACCORDANCE WITH THE POLICY. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI RECONCILIATION OF NET ASSETS, LN 8 PRIOR PERIOD ADJUSTMEN DURING THE YEAR ENDED JUNE 30, 2024, MANAGEMENT DISCOVERED THAT THE SPECIAL EVENT REVENUE FOR TICKETS AND SPONSORSHIPS WERE NOT RECORDED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. A FUNDRAISING LUNCHEON WAS ORIGINALLY SCHEDULED TO BE HELD IN SPRING 2023 BUT WAS POSTPONED UNTIL SEPTEMBER 6, 2023. THE SPECIAL EVENT REVENUE SHOULD HAVE BEEN DEFERRED TO FISCAL YEAR 2023-24 SINCE DONOR BENEFITS HAD NOT YET BEEN RECEIVED. THE FINANCIAL STATEMENT BALANCES OF DEFERRED REVENUE AND SPECIAL EVENT REVENUE OF $32,050 HAVE BEEN RESTATED. THE EFFECT OF THE RESTATEMENT IS REFLECTED ON FORM 990, PART XI RECONCILIATION OF NET ASSETS, LINE 8 PRIOR PERIOD ADJUSTMENTS. FORSYTH TECHNICAL COMMUNITY COLLEGE 2100 SILAS CREEK PKWY WINSTONSALEM NC 27103 560792614 COLLEGE NC 501(C)(3) LINE 5 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0