2022-11-15T15:44:28-06:00 2021-12-31 560574444 CHERRY BEKAERT LLP 222 CENTRAL PARK AVE STE 1400 VIRGINIA BEACH VA 23462 990 2021-01-01 521217056 TIDEWATER COMMUNITY COLLEGE EDUCATIONAL FOUNDATION INC TIDE 7578221548 121 COLLEGE PLACE 5TH FLOOR NORFOLK VA 23510 CHRISTOPHER BRYANT VP OF INST ADV/EXEC DIR 7578221548 2022-11-15 1 CHRISTOPHER BRYANT 999009999 AMANDA ADAMS P00748038 7574562400 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z CHRISTOPHER BRYANT 121 COLLEGE PLACE 5TH FLOOR NORFOLK VA 23510 6336463 0 X N/A X 1981 VA TO FOSTER AND PROMOTE THE GROWTH, PROGRESS AND GENERAL WELFARE OF TIDEWATER COMMUNITY COLLEGE. 16 15 0 22 0 0 732588 877943 0 0 -66628 999028 0 0 665960 1876971 841582 507518 0 0 0 0 0 62000 151809 1444513 924800 2286095 1494318 -1620135 382653 10311562 10555249 447895 132361 9863667 10422888 X TO FOSTER AND PROMOTE THE GROWTH, PROGRESS AND GENERAL WELFARE OF TIDEWATER COMMUNITY COLLEGE BY PROVIDING MONEY, PERSONNEL AND OTHER AIDS FOR THE COLLEGE; MAKING DONATIONS TO CURRENT COLLEGE ACTIVITIES; PURCHASE BOOKS, MATERIALS AND EQUIPMENT; AND (CONTINUED ON SCHEDULE O) PROVIDE EDUCATIONAL LOANS, SCHOLARSHIPS OR GRANTS TO AID STUDENTS OF THE COLLEGE. 0 0 286157 286157 PROVIDED 338 EDUCATIONAL SCHOLARSHIPS OR GRANTS TO TIDEWATER COMMUNITY COLLEGE STUDENTS. 796686 221361 BOOKS, MATERIALS AND EQUIPMENT USED TO ENHANCE THE EDUCATIONAL PROGRAMS AT TIDEWATER COMMUNITY COLLEGE. 1082843 1 1 0 1 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 14 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 16 15 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 0 0 0 VA X TIDEWATER COMMUNITY COLLEGE 7578221548 121 COLLEGE PLACE 5TH FLOOR NORFOLK VA 23510 DR MARCIA CONTON TCC PRESIDENT AND SECRETARY 1.00 40.00 X X 0 266173 45585 DELCENO MILES CHAIR 1.00 0.00 X X 0 0 0 ANDREW HODGE VICE CHAIR 1.00 0.00 X X 0 0 0 STEPHEN B BALLARD DIRECTOR 1.00 0.00 X 0 0 0 PAUL BATTAGLIA DIRECTOR 1.00 0.00 X 0 0 0 GARRET G BERGER DIRECTOR 1.00 0.00 X 0 0 0 ANNE G BIBEAU TREASURER 1.00 0.00 X 0 0 0 CAROL R CURTIS DIRECTOR 1.00 0.00 X 0 0 0 CYNTHIA FREE DIRECTOR 1.00 0.00 X 0 0 0 JESSE GORDON DIRECTOR 1.00 0.00 X 0 0 0 ROBERT Y GREEN JR DIRECTOR 1.00 0.00 X 0 0 0 EDWARD HANDLER DIRECTOR 1.00 0.00 X 0 0 0 MARK A JOHNSON DIRECTOR 1.00 0.00 X 0 0 0 CHRISTIAN KOESTLER DIRECTOR 1.00 0.00 X 0 0 0 JOHN C RICHARDS JR DIRECTOR 1.00 0.00 X 0 0 0 CHRISTOPHER G STUART DIRECTOR 1.00 0.00 X 0 0 0 DONALD WINCHESTER DIRECTOR 1.00 0.00 X 0 0 0 JORDAN R ASHER DIRECTOR 1.00 0.00 X 0 0 0 JOHN L ROWE JR DIRECTOR 1.00 0.00 X 0 0 0 JOHN PISCITELLI DIRECTOR 1.00 0.00 X 0 0 0 WILLIAM NUSBAUM TCCEF LEGAL COUNSEL 1.00 0.00 X 0 0 0 STANLEY P TURBEVILLE EXECUTIVE DIR. & VP OF INS 1.00 40.00 X 0 88542 15722 0 354715 61307 0 0 1 0 0 877943 221361 877943 158169 158169 5300351 4459492 840859 840859 840859 1876971 0 0 999028 221361 221361 286157 286157 1529 1529 15450 15450 12000 12000 62000 62000 39532 39532 8500 8500 446 446 63141 4205 58936 787 787 6530 6530 PROGRAM SERVICE EXPENSE 287635 287635 PROJECT CANCELLATION RE 247389 247389 SHARED SERVICES 175746 36096 61557 78093 66115 54399 11716 1494318 1082843 259666 151809 628025 937471 345484 166048 24999 27988 9313054 9423742 10311562 10555249 59303 120280 388592 12081 447895 132361 X 1809983 2351191 8053684 8071697 9863667 10422888 10311562 10555249 X 382653 294735 -118167 X 0 1 X 1 0 X 911520 2170781 2245167 732588 877943 6937999 911520 2170781 2245167 732588 877943 6937999 210710 6727289 352071 431687 196425 167324 158169 1305676 4199 92301 6312 102812 8346487 0.80600 0.77200 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2017 AMOUNT: $ 4,199. 2018 AMOUNT: $ 92,301. 2019 AMOUNT: $ 6,312. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 12000 12000 0 PART II-B, LINE 1: THE ORGANIZATION HAS A CONTRACT WITH DOWNS GOVERNMENT AFFAIRS, LLC IN CONNECTION WITH THE MARITIME WORKFORCE TRAINING CENTERS OF EXCELLENCE INITIATIVE. THEIR REPRESENTATION IN THIS MATTER WILL INVOLVE ADVOCATING FOR ENACTMENT OF FEDERAL LEGISTATION AND OBTAINING FEDERAL EXECUTIVE BRANCH SUPPORT. THE INSTITUTIONAL ASSESSMENT IS LIMITED TO $1,000 PER MONTH. 0 5066205 9081 610288 65872 65178 5554524 4968663 73813 505897 416560 65608 5066205 4411057 68309 594289 103903 1089 4968663 4172046 582530 -242007 82460 15481 3571 4411057 3704242 43093 548811 19594 48985 55521 4172046 0.00000 0.00000 1.00000 0 0 0 CHARITABLE GIFT ANNUITY LIABILITY 7564 BANK OVERDRAFT 4517 12081 X 2175048 294735 290263 584998 1590050 39532 247389 286921 1876971 1615827 290263 118167 408430 1207397 39532 247389 286921 1494318 PART V, LINE 4: THE EDUCATIONAL FOUNDATION'S ENDOWMENT CONSISTS OF APPROXIMATELY 50 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE FUNDS ARE USED TO SUPPORT TIDEWATER COMMUNITY COLLEGE. PART X, LINE 2: THE EDUCATIONAL FOUNDATION IS EXEMPT FROM INCOME TAX UNDER SECTION(C)(3) OF THE INTERNAL REVENUE CODE. MANAGEMENT BELIEVES THAT THE EDUCATIONAL FOUNDATION CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION AT DECEMBER 31, 2021. MANAGEMENT HAS EVALUATED ALL OTHER TAX POSITIONS THAT COULD HAVE A SIGNIFICANT EFFECT ON THE FINANCIAL STATEMENTS AND DETERMINED THE EDUCATIONAL FOUNDATION HAD NO UNCERTAIN INCOME TAX POSITIONS AT DECEMEBER 31, 2021 AND 2020. PART XI, LINE 4B - OTHER ADJUSTMENTS: PROJECT CANCELLATION 247,389. PART XII, LINE 2D - OTHER ADJUSTMENTS: BAD DEBT EXPENSE 122,319. CHARITABLE GIFT ANNUITY ADJUSTMENT -4,152. PART XII, LINE 4B - OTHER ADJUSTMENTS: PROJECT CANCELLATION 247,389. X X X X X 1 THE CURTIS GROUP 2512 SHEPHERDS LANE VIRGINIA BEACH VA 23454 FUNDRAISING CONSULTING 0 0 62000 -62000 62000 -62000 VA 1 TIDEWATER COMMUNITY COLLEGE 121 COLLEGE PLACE NORFOLK VA 23510 541268286 0 221361 FMV EQUIPMENT, BOOKS, FURNITURE, FIXTURES AND OTHER ASSETS GENERAL SUPPORT TO THE COLLEGE 1 0 SCHOLARSHIPS 338 286157 PART I, LINE 2: SCHOLARSHIPS ARE AWARDED TO STUDENTS ATTENDING TIDEWATER COMMUNITY COLLEGE. THE USE OF SCHOLARSHIP FUNDS IS MONITORED THROUGH CENTRAL FINANCIAL AID AND STUDENT ACCOUNTS. X X 0 1 0 0 0 0 0 0 0 0 0 DR MARCIA CONTON TCC PRESIDENT AND SECRETARY 0 236229 0 0 0 29944 0 34569 0 11016 0 311758 0 0 PART I, LINE 1A THE FOUNDATION REIMBURSED THE COLLEGE FOR THE HOUSING ALLOWANCE PROVIDED TO DR. CONSTON. THE ALLOWANCE WAS TREATED AS A TAXABLE BENEFIT TO HER. THE FOUNDATION ALSO PAID FOR SOCIAL CLUB DUES FOR DR. CONSTON WHICH WERE TREATED AS A NONTAXABLE BENEFIT. PART I, LINE 1B THE SOCIAL CLUB DUES ARE APPROVED IN THE OVERALL ANNUAL BUDGET EACH YEAR, BUT THERE IS NO WRITTEN POLICY TO DIRECTLY APPROVE THEM. THE DUES ARE INCLUDED IN A BROADER BUDGET CATEGORY OF "MEETING, DUES, AND MEMBERSHIPS, TRAVEL, POSTAGE, AND OTHER INCIDENTAL OPERATING EXPENSES." THE HOUSING ALLOWANCE IS ALSO APPROVED BY THE BOARD ANNUALLY. X 21 2750 ESTIMATED FMV X COMPUTERS AND ELECTRONIC EQUIPMENT 110 205112 ESTIMATED FMV X ACADEMIC EQUIP 11 13499 ESTIMATED FMV 0 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY FINANCIAL SERVICES AND THE EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION B, LINE 12C ALL DIRECTORS OF THE BOARD OF DIRECTORS AND OFFICERS OF THE FOUNDATION MUST DISCLOSE ANNUALLY THOSE SUBSTANTIVE RELATIONSHIPS THAT COULD BE CONSTRUED POTENTIALLY TO AFFECT THEIR INDEPENDENCE. DIRECTORS OR OFFICERS WHO HAVE DECLARED OR HAVE BEEN FOUND TO HAVE A CONFLICT OF INTEREST MAY BE ASKED TO REFRAIN FROM CONSIDERATION OF PROPOSED TRANSACTIONS. PERSONS WITH CONFLICTS MAY BE ASKED NOT TO VOTE, PARTICIPATE IN DISCUSSION OR BE PRESENT AT THE TIME OF THE VOTE. FORM 990, PART VI, SECTION B, LINE 15 THE FOUNDATION HAS NO FULL-TIME EMPLOYEES. ALL PERSONNEL IN SUPPORT OF THE FOUNDATION ARE EMPLOYEES OF THE TIDEWATER COMMUNITY COLLEGE, A RELATED ORGANIZATION, AND ARE SUBJECT TO THE COMPENSATION POLICIES OF THE COLLEGE. THE COLLEGE REVIEWS THE COMPENSATION OF ITS KEY EMPLOYEES ON AN ANNUAL BASIS TO ENSURE THAT COMPENSATION IS REASONABLE. FORM 990, PART VI, SECTION C, LINE 19 ORGANIZATION MAKES GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FINANCIAL STATEMENTS ARE ALSO AVAILABLE FOR PUBLIC INSPECTION THROUGH GUIDE STAR. FORM 990, PART XI, LINE 9: BAD DEBT EXPENSE -122,319. CHARITABLE GIFT ANNUITY ADJUSTMENT 4,152. TIDEWATER COMMUNITY COLLEGE 121 COLLEGE PLACE NORFOLK VA 23510 541268286 EDUCATION VA GOVERNMENT N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 0 TIDEWATER COMMUNITY COLLEGE B 221361 CASH TIDEWATER COMMUNITY COLLEGE O 466009 FAIR MARKET VALUE TIDEWATER COMMUNITY COLLEGE R 286157 FAIR MARKET VALUE