Kalamazoo Valley Community College Foundation in Kalamazoo, Michigan (MI)

Kalamazoo Valley Community College Foundation
Employer Identification Number (EIN)	382307720
Name of Organization	Kalamazoo Valley Community College Foundation
Address	6767 W O Ave, Kalamazoo, MI 49009-7402
Activities	Gifts, grants, or loans to other organizations
Subsection	Educational Organization
Ruling Date	07/1980
Deductibility	Contributions are deductible
Foundation	Organization which operates for benefit of college or university and is owned or operated by a governmental unit
Organization	Corporation
Exempt Organization Status	Unconditional Exemption
Tax Period	06/2014
Assets	$10,000,000 to $49,999,999
Income	$500,000 to $999,999
Filing Requirement	990 (all other) or 990EZ return
Asset Amount	$15,001,701
Amount of Income	$976,995
Form 990 Revenue Amount	$703,291
National Taxonomy of Exempt Entities (NTEE)	Educational Institutions and Related Activities: Community or Junior Colleges

Non-representatives - add comments:

Amount of income in 2014: $976,995 (it was $1,036,537 in 2013)

Kalamazoo Valley Community College Foundation:	$976,995
Other organizations performing similar types of work:	$1,575,754

Assets in 2014: $15,001,701 (it was $12,786,849 in 2013)

Kalamazoo Valley Community College Foundation:	$15,001,701
Other organizations performing similar types of work:	$5,372,399

Expenses in 2014: $607,383

This organization:	$607,383
Other organizations performing similar types of work:	$676,136

Income to expenses ratio in 2014: 1.6

This organization:	1.6
Other organizations performing similar types of work:	2.3

Grants share in income in 2014: 24.2%

Kalamazoo Valley Community College Foundation:	24.2%
Other organizations performing similar types of work:	51.2%

Financial snapshot ($)

Revenue for 2014

Assets at the end of 2014

Functional expenses for 2014

	2013	2014
Checklist
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?	Yes	Yes
Is the organization required to complete Schedule B, Schedule of Contributors?	Yes	Yes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?	No	No
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?	No	No
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?	No	No
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?	No	No
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?	No	No
Did the organization maintain collections of works of art, historical treasures, or other similar assets?	No	No
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?	No	No
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?	Yes	Yes
Did the organization report an amount for land, buildings, and equipment?	No	No
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?	No	No
Did the organization report an amount for investments-program related that is 5% or more of its total assets?	No	No
Did the organization report an amount for other assets that is 5% or more of its total assets?	No	No
Did the organization report an amount for other liabilities?	No	No
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?	Yes	Yes
Did the organization obtain separate, independent audited financial statements for the tax year?	Yes	Yes
Was the organization included in consolidated, independent audited financial statements for the tax year?	No	No
Is the organization a school described in section 170(b)(1)(A)(ii)?	No	No
Did the organization maintain an office, employees, or agents outside of the United States?	No	No
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?	No	No
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?	No	No
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?	No	No
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?	No	No
Did the organization report more than $15,000 total of fundraising event gross income and contributions?	Yes	Yes
Did the organization report more than $15,000 of gross income from gaming activities?	No	No
Did the organization operate one or more hospital facilities?	No	No
Did the organization attach a copy of its audited financial statements?	No	No
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?	Yes	Yes
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?	No	No
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?	Yes	Yes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?	No	No
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?	No	No
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?	No	No
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?	No	No
Did the organization engage in an excess benefit transaction with a disqualified person during the year?	No	No
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?	No	No
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?	No	No
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?	No	No
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?	No	No
A family member of a current or former officer, director, trustee, or key employee?	No	No
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?	No	No
Did the organization receive more than $25,000 in non-cash contributions?	No	No
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?	No	No
Did the organization liquidate, terminate, or dissolve and cease operations?	No	No
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?	No	No
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?	No	No
Was the organization related to any tax-exempt or taxable entity?	Yes	Yes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?	Yes	Yes
Did the organization make any transfers to an exempt non-charitable related organization?	No	No
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?	No	No

	2012	2013	2014
Statements Regarding Other IRS Filings and Tax Compliance
The number reported in Box 3 of Form 1096		0	0
The number of Forms W-2G		0	0
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?		No	No
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return		0	0
Did the organization file all required federal employment tax returns?		No	No
Did the organization have unrelated business gross income of $1,000 or more during the year?	No	No	No
Has it filed a Form 990-T for this year?		No	No
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?		No	No
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?		No	No
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?		No	No
Did the organization file Form 8886-T?		No	No
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?		No	No
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?		No	No
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?		Yes	Yes
Did the organization notify the donor of the value of the goods or services provided?		Yes	Yes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?		No	No
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?		No	No
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?		No	No
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?		No	No
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?		No	No
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?		No	No
Did the sponsoring organization make any taxable distributions under section 4966?		No	No
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?		No	No
Initiation fees and capital contributions	$0	$0	$0
Gross receipts for public use of club facilities	$0	$0	$0
Gross income from members or shareholders	$0	$0	$0
Gross income from other sources	$0	$0	$0
Is the organization filing Form 990 in lieu of Form 1041?		No	No
The amount of tax-exempt interest received or accrued during the year		$0	$0
Is the organization licensed to issue qualified health plans in more than one state?		No	No
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans		$0	$0
The amount of reserves on hand		$0	$0
Did the organization receive any payments for indoor tanning services during the tax year?		No	No
Has it filed a Form 720 to report these payments?		No	No

	2013	2014
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization	$0	$0
Total reportable compensation from related organizations	$470,731	$480,857
Total estimated amount of other compensation from the organization and related organizations	$110,142	$122,000
Total number of individuals who received more than $100,000 of reportable compensation from the organization	0	0
Total number of independent contractors who received more than $100,000 of compensation from the organization	0	0

	2012	2013	2014
Statement of Revenue
Total revenue	$640,745	$554,675	$703,291
Contributions, Gifts, Grants and Other Similar Amounts	$291,319	$174,641	$170,172
Program Service Revenue	$0	$0	$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)	$306,147	$226,606	$345,700
Income from investment of tax-exempt bond proceeds	$0	$0	$0
Royalties	$0	$0	$0
Net rental income	$0	$0	$0
Net gain/loss from sales of assets other than inventory	$-2	$112,504	$144,553
Gross amount from sales of assets other than inventory (Securities / Other)	$13,187 / $0	$554,054 / $0	$380,780 / $0
Less: cost or other basis and sales expenses (Securities / Other)	$13,189 / $0	$441,550 / $0	$236,227 / $0
Gain or (loss) (Securities / Other)	$-2 / $0	$112,504 / $0	$144,553 / $0
Net income/loss from fundraising events	$43,281	$40,924	$42,717
Gross income from fundraising events	$71,236	$81,236	$80,194
Less: direct expenses	$27,955	$40,312	$37,477
Net income/loss from gaming activities	$0	$0	$0
Net income/loss from sales of inventory	$0	$0	$0
Miscellaneous Revenue	$0	$0	$149
900099		$0	$149
All other revenue		$0	$0

	2012	2013	2014
Statement of Functional Expenses
Total functional expenses	$540,101	$524,014	$607,383
Grants and other assistance to domestic organizations and domestic governments		$522,597	$606,149
Grants and other assistance to domestic individuals		$0	$0
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals		$0	$0
Benefits paid to or for members		$0	$0
Compensation of current officers, directors, trustees, and key employees	$0	$0	$0
Compensation not included above, to disqualified persons		$0	$0
Other salaries and wages	$0	$0	$0
Pension plan accruals and contributions		$0	$0
Other employee benefits		$0	$0
Payroll taxes	$0	$0	$0
Fees for services (non-employees)
Management		$0	$0
Legal		$0	$0
Accounting		$0	$0
Lobbying		$0	$0
Professional fundraising services	$0	$0	$0
Investment management fees		$0	$0
Other		$0	$0
Advertising and promotion		$0	$0
Office expenses		$0	$0
Information technology		$0	$0
Royalties		$0	$0
Occupancy		$0	$0
Travel		$0	$0
Payments of travel or entertainment expenses for any federal, state, or local public officials		$0	$0
Conferences, conventions, and meetings		$0	$0
Interest		$0	$0
Payments to affiliates		$0	$0
Depreciation, depletion, and amortization		$0	$0
Insurance		$1,417	$1,234

	2012	2013	2014
Balance Sheet
Total assets	$11,293,601	$12,786,849	$15,001,701
Cash - non-interest-bearing		$0	$0
Savings and temporary cash investments		$538,857	$388,296
Pledges and grants receivable, net		$43,623	$35,967
Accounts receivable, net		$0	$0
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees		$0	$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations		$0	$0
Notes and loans receivable, net		$0	$0
Inventories for sale or use		$0	$0
Prepaid expenses and deferred charges		$0	$0
Land, buildings, and equipment: cost or other basis		$0	$0
Investments - publicly traded securities		$12,204,369	$14,577,438
Investments - other securities		$0	$0
Investments - program-related		$0	$0
Intangible assets		$0	$0
Other assets		$0	$0
Total liabilities	$56,638	$40,499	$61,821
Accounts payable and accrued expenses		$40,499	$61,821
Grants payable		$0	$0
Deferred revenue		$0	$0
Tax-exempt bond liabilities	$0	$0	$0
Escrow or custodial account liability		$0	$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons		$0	$0
Secured mortgages and notes payable to unrelated third parties	$0	$0	$0
Unsecured notes and loans payable to unrelated third parties	$0	$0	$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)		$0	$0
Total net assets or fund balances	$11,236,963	$12,746,350	$14,939,880
Unrestricted net assets		$4,711,627	$5,494,757
Temporarily restricted net assets		$6,895,549	$8,277,794
Permanently restricted net assets		$1,139,174	$1,167,329
Capital stock or trust principal, or current funds		$0	$0
Paid-in or capital surplus, or land, building, or equipment fund		$0	$0
Retained earnings, endowment, accumulated income, or other funds	$0	$0	$0

Reason for Public Charity Status (for 2014)
The organization is not a private foundation because it is:	An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2)
Number of organizations supported	1
Sum of amounts of support	$606,149

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Id	Name	Address	State	Established	Total Income
Organizations performing similar types of work
1	The Harrisburg Area Community College Foundation	1 Hacc Dr, Harrisburg, PA 17110-2999	PA	1986-06	$54,109,295
2	Utah Valley University Foundation Inc	800 W Discovery Pkwy Ste Ms111, Orem, UT 84058	UT	1982-08	$16,642,274
3	Santa Rosa Junior College Foundation	1501 Mendocino Ave, Santa Rosa, CA 95401-4332	CA	1972-02	$11,881,965
4	Wake Technical Community College Foundation Inc	9101 Fayetteville Rd, Raleigh, NC 27603-5655	NC	1968-12	$9,074,340
5	Westside Community Schools Foundation Inc	909 S 76th St, Omaha, NE 68114-4519	NE	1977-01	$5,212,848
6	Wilkes Community College Endowment Corporation	PO BOX 120, Wilkesboro, NC 28697-0120	NC	1973-12	$5,002,795
7	South Seattle Community College Foundation	6000 16th Avenue Sw Room Rsb-01, Seattle, WA 98106-1499	WA	1982-01	$4,837,253
8	Tulsa Community College Foundation	6111 E Skelly Drive, Tulsa, OK 74135-6100	OK	1971-04	$4,298,046
9	Oakland Community College Foundation	2480 Opdyke Rd, Bloomfld Hls, MI 48304-2223	MI	1980-04	$4,221,290
10	Roane State Community College Foundation	276 Patton Ln, Harriman, TN 37748-8615	TN	1981-01	$3,974,701
11	Glen Oaks Community College Foundation	62249 Shimmel Rd, Centreville, MI 49032-9784	MI	1980-12	$3,325,312
12	Washtenaw Community College Foundation	4800 E Huron River Dr, Ann Arbor, MI 48105-9481	MI	1985-10	$2,773,203
13	Alpena Community College Foundation	665 Johnson St, Alpena, MI 49707-1409	MI	1964-05	$2,345,107
14	Sc4 Foundation	323 Erie St, Port Huron, MI 48060-3812	MI	1964-06	$2,272,850
15	Bruin Club Of Genesee County	1401 E Court St, Flint, MI 48503-6208	MI	1985-03	$2,074,386
16	Lansing Community College Foundation	309 N Washington Sq Ste 201, Lansing, MI 48933-1222	MI	1981-08	$1,441,220
17	Delta College Foundation	1961 Delta Rd, Univ Ctr, MI 48710-0001	MI	1979-09	$1,382,561
18	Kalamazoo Valley Community College Foundation	6767 W O Ave, Kalamazoo, MI 49009-7402	MI	1980-07	$976,995
19	West Shore Community College Foundation	3000 N Stiles Rd, Scottville, MI 49454-9791	MI	1971-11	$806,602
20	Gogebic Community College Found	E4946 Jackson Rd, Ironwood, MI 49938-1365	MI	1978-06	$336,693

Number of organizations performing similar types of work

Alabama	4
Arkansas	2
Arizona	1
California	14
Colorado	2
Connecticut	1
Florida	2
Georgia	2
Iowa	11
Illinois	9
Kansas	10
Kentucky	2
Louisiana	1
Massachusetts	4
Maryland	9
Michigan	11
Minnesota	5
Missouri	2
Mississippi	3

North Carolina	22
Nebraska	4
New Jersey	6
New Mexico	1
Nevada	1
New York	29
Ohio	1
Oklahoma	3
Oregon	4
Pennsylvania	7
Rhode Island	1
South Carolina	1
Tennessee	3
Texas	5
Utah	2
Virginia	5
Washington	10
Wisconsin	1

Total

201

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