2017-07-26T11:26:07-05:00 2016-12-31 061325235 Dylewsky Goldberg & Brenner LLC 30 Oak Street Stamford CT 06905 990 2016-01-01 066080293 Norwalk Community College Foundation Inc NORW 2038577262 188 Richards Avenue No E311 Norwalk CT 068541655 Ann P Rogers Executive Director 2038577261 2017-07-26 1 Lawrence Goldberg P01246920 2039758830 96.56.36.92 2017-07-26 12:26:00 ED P 6C9B1A35775087DBDB8A6D25ECA509C7F6C27838 241129EFADF196238CF043DF37955289E40E7450 2016 2021-01-29 14:40:06Z Ann P Rogers 188 Richards Avenue No E311 Norwalk CT 068541655 11896320 0 X https://ncc-foundation.org X 1965 CT Fundraising for scholarships, programs and capital support for Norwalk Community College. 21 21 7 0 0 0 1336692 2339082 0 0 1345733 1516252 78434 -1804 2760859 3853530 1722664 2252383 0 0 686759 692836 0 0 338405 398054 336047 2807477 3281266 -46618 572264 26154376 27245946 1368373 1652254 24786003 25593692 X The Mission of the Norwalk Community College Foundation is three-fold: 1) Raise funds for Norwalk Community College programs and scholarships. Continued on Schedule O. . . (2) Invest, administer and distribute funds so that students of all ages continue to benefit from challenging opportunities for self-improvement and intellectual growth. (3) Inspire and engage our community to share talents and resources. 0 0 906944 755066 Scholarships and other academic awards are one of the primary objectives of the Foundation. In the 2016/2017 academic year, 454 students were awarded scholarships. Scholarships bestow on students a valuable sense of recognition and accomplishment as well as important financial support. Our scholarship donors include private individuals, corporations and foundations, all of whom are committed to making an education affordable for NCC students. The Foundation's scholarship process is competitive and academic achievement is the primary consideration. However financial need, special circumstances and personal qualities are also considered in awarding scholarships. Scholarship applications are reviewed by the Scholarship Committee which is comprised of Board Directors, community members, the Executive Director and the Manager of Scholarship and Donor Relations. 1590093 1497317 The Foundation supports Norwalk Community College to further the development of the student body by providing funding for a variety of programs. The Foundation continued its support from previous years to fund five faculty positions for the Center for Science Health and Wellness. In 2016, a commitment to fund four of the faculty positions was extended for an additional three years. The fifth faculty position is funded by a three year grant. In accordance with Generally Accepted Accounting Principles, the entire liability for the long term grant funding of the five faculty positions was established and the expense was accrued, but operationally the faculty positions are funded each year. The faculty positions include a biology professor, a simulation laboratory specialist, an exercise science instructor, and both an assistant professor and a clinical coordinator in veterinary science. The Foundation also funded various college advancement initiatives. 2497037 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 11 0 1 7 1 0 0 0 0 0 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X X Ann Marie Winsch 2038577262 NCC Foundation 188 Richards Ave Norwalk CT 068541655 Stuart Weismiller President 7.00 X X 0 0 0 Deborah C McLean Vice President 4.50 X X 0 0 0 Howard Stecker Secretary 4.50 X X 0 0 0 Ellen H Petrino Treasurer 3.50 X X 0 0 0 Joan Barksdale Director thru 11.10.16 1.50 X 0 0 0 Erin M Catapano Director 1.00 X 0 0 0 Robert A Cerminaro Director thru 9.20.16 1.00 X 0 0 0 Ramon J Ceron Director thru 11.10.16 1.50 X 0 0 0 Ana Chadwick Director 3.00 X 0 0 0 Robert M Dixon Director 1.00 X 0 0 0 Joseph W Donaldson Director 1.50 X 0 0 0 Jon Gold Director 3.00 X 0 0 0 Julie M Johnson Director 1.50 X 0 0 0 Vasso Kelly RN Director 1.00 X 0 0 0 Jackie Labatt-Simon Director as of 11.10.16 1.00 X 0 0 0 Lenore C Mintz Director 1.50 X 0 0 0 Vincent A Murphy Director 3.00 X 0 0 0 Theodore Jay Nussbaum Director 3.00 X 0 0 0 Martha Poulter Director 1.50 X 0 0 0 George A Reilly Director 1.00 X 0 0 0 Eleanor Riemer Director 3.00 X 0 0 0 Lesley IB Schless Director 1.50 X 0 0 0 Susan G Weinberger Director 1.00 X 0 0 0 Joseph R Zimmel Director as of 11.10.16 1.00 X 0 0 0 Ann P Rogers Executive Director 40.00 X 174864 0 28659 Ann Marie Winsch Director of Finance 40.00 X 108101 0 32306 282965 0 60965 2 0 1 0 Neuberger Berman 1290 Avenue of Americas New York NY 10104 Investment advisory fees 162753 1 2339082 90153 2339082 766127 766127 8651523 141392 8042790 0 608733 141392 750125 750125 Goodnow, Gray & Co K-1 523000 -1804 -1804 -1804 3853530 0 0 1514448 1497317 1497317 755066 755066 201495 70523 50374 80598 347193 122373 76751 148069 30969 10944 6769 13256 77628 27158 27026 23444 35551 12331 8268 14952 8149 8149 60680 60680 166723 166723 22422 1317 21105 7643 5248 2395 8748 8748 264 163 101 29779 3605 26174 6627 1325 2651 2651 10571 10571 Membership, Dues & Subs 6204 544 5660 Payroll Service Fees 5503 5503 Bank Fees & Misc. 2734 2734 3281266 2497037 445824 338405 158770 174909 3204493 3194679 543285 590013 409800 0 46391 25965 27053 20426 21810975 23265919 26154376 27245946 25281 13878 1082134 1441118 260958 197258 1368373 1652254 X 798857 860942 7681169 8379828 16305977 16352922 24786003 25593692 26154376 27245946 572264 235425 0 X X 0 1 X 1 0 X 1376030 964117 1769881 1686692 2339082 8135802 1376030 964117 1769881 1686692 2339082 8135802 136855 7998947 871406 863512 788280 857851 766127 4147176 12000 -1894 -1804 -1920 -1804 4578 12287556 0.65100 0.63900 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 22772366 69409 1733024 1119994 162970 23291835 20865503 3956775 -555051 1330870 163991 22772366 20683574 67827 1045795 780898 150795 20865503 18651896 39259 2911384 777829 141136 20683574 17454395 78965 2104762 856095 130131 18651896 0.70210 0.29790 1 0 10343 6649 3694 36048 19316 16732 20426 Annuities Payable 49622 Present value of life tenancy liability 147636 197258 X 3922232 235425 235425 3686807 166723 166723 3853530 3114543 0 3114543 166723 166723 3281266 Part V, Line 4: The intended use of the endowment is for scholarships and grants to Norwalk Community College. Part X, Line 2: The Foundation evaluates all significant tax positions in accordance with accounting principles generally accepted in the United States of America. As of December 31, 2016, the Foundation does not believe that it has taken any positions that would require the recording of any tax liability nor does it believe that there are any unrealized tax benefits that would either increase or decrease within the next year. 1 Norwalk Community College a Department of the State of CT 188 Richards Avenue Norwalk CT 06854 061425725 1497317 Book See Part III of Form 990 question 4b. Scholarships 454 755066 Book Part I, Line 2: The Foundation evaluates the College's request for funding annually and provides support based on the funds available and commitments received. The College submits to the Foundation regular fiscal reports and narrative updates on the projects being funded. The Foundation sets a budget for scholarships based on the funds available. The Scholarship Committee identifies students who meet the scholarship eligibility requirements and then awards accordingly. X X X 0 0 0 0 0 0 0 0 0 Ann P Rogers Executive Director 167364 0 7500 0 0 0 0 0 28659 0 203523 0 0 0 X 5 9147 Fair Market Value X 1 81006 Fair Market Value 0 1 0 Form 990, Part VI, Section B, line 11b The Form 990 was reviewed by both the Finance and Audit Committees and subsequently distributed to the Board of Directors prior to filing. Form 990, Part VI, Section B, line 12c The Conflict of Interest questionnaire is distributed annually to all board directors and the Executive Director by the President of the Foundation. The questionnaire responses are then reviewed by the Audit Committee chair and the Board President. Form 990, Part VI, Section B, line 15a The Executive Director's salary is reviewed annually by the Executive Committee of the Foundation Board of Directors. Form 990, Part VI, Section C, line 19 The Form 990 as well as the audited financial statements are available on the Foundation's website, ncc-foundation.org. The Form 990 is also available on guidestar.org. The Form 1023 is available upon written request at 188 Richards Ave Suite E311. Form 990, Part XII, Line 2C The organization has an audit committee that is responsible for the oversight of the audit, its financial statements, as well as the selection of an independent accountant. The process has not changed from the prior year. Form 990, Part VI, Section A Subsequent to December 31, 2016, The Board of The Norwalk Community College Foundation, Inc. approved a change in the fiscal year of the Organization to a June 30th year end, beginning with the six month period ending June 30, 2017. The change is being made to align the fiscal year end with the academic year of Norwalk Community College (the College). The Board believes that aligning the fiscal year end will help coordinate and streamline the operations of the organizations and create more effective delivery of the services that are provided to the College and its students.