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Foundation of Yakima Valley Community College

Foundation of Yakima Valley Community College

Yakima, WA 98907
Tax ID91-1028928

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About this organization

Revenue

$667,632

Expenses

$767,256

Website

yvcc.edu

Mission

The Foundation is organized exclusively for charitable and educational purposes. Our main focus is awarding scholarships to students, yearly awards for faculty/staff and assisting in the promotion and support of Yakima Valley College educational programs.

About

Awarding scholarships to students is our main focus and our largest expenditure. We have awarded over $5 million in scholarships to approximately 5,200 students in the 42 years we have been in existence. The Foundation also raised matching funds for the SBCTC Exceptional Faculty Program in 1998. $350,000 was matched by the State of WA to make awards available yearly to faculty working at Yakima Valley College (YVC). 89% of the total expenses were spent on scholarships and awards. The revenue we generate yearly comes from donors who want to establish scholarships with us and the investment income generated by those donations. We require a $5,000 donation to set up a perpetual scholarship whereby we only award the income from the prior year and keep initial donation intact. We charge a 0.5%-1.5% administrative fee yearly to pay for administrative costs in our office. The fees charged are based on prior year's performance and income generated. We also accept donations where the donor wants the whole donation to be awarded and no investment income is generated and we do not charge these funds with the administrative fee. Our Foundation has been given millions of dollars by incredible people who want to further the educations of students who wouldn't be able to attend college if not for the scholarship. A list of our scholarships with their criteria is available at yvcc.edu/scholarships. In April of 2019 the Foundation teamed up with the college and created an emergency fund for studentsThe Student Success Fund. The funds cover unexpected costs that come up that would prevent a student from attending their classes such as rent, utilities, car repairs, groceries, etc. The Foundation provided the funds and the college set up a procedures for students in need to follow. The college then recommends the student to the Foundation and a check is written directly to the vendor.

Interesting data from their 2020 990 filing

The non-profit's aim, as stated in the filing, is “The foundation is organized exclusively for charitable and educational purposes. our main focus is awarding scholarships to students, yearly awards for faculty/staff and assisting in the promotion and support of yakima valley college educational programs.”.

When referring to its actions, they were outlined as: “The foundation is organized exclusively for charitable and educational purposes. our main focus is awarding scholarships to students, yearly awards for faculty/staff and assisting in the promotion and support of yakima valley college educational programs.”.

  • The non-profit has complied with legal obligations by reporting their state of operation as WA.
  • The non-profit's address in 2020 is noted in the filing as PO BOX 22520, YAKIMA, WA, 98907.
  • The non-profit's form for 2020 reports a total of 1 employees.
  • Does not operate a hospital.
  • Does not operate a school.
  • Does not collect art.
  • Does not provide credit counseling.
  • Does not have foreign activities.
  • Is not a donor-advised fund.
  • Is not a private foundation.
  • Expenses are between $500,000 and $1,000,000+.
  • Revenue is between $500,000 and $1,000,000+.
  • Revenue less expenses is -$99,624.
  • The CEO compensation package within the organization is not established through a review and approval by a neutral party.
  • The organization has a written policy that describes how long it will retain documents.
  • The organization has 14 independent voting members.
  • The organization was formed in 1977.
  • The organization has a written policy that addresses conflicts of interest.
  • The organization is required to file Schedule B.
  • The organization is required to file Schedule O.
  • The organization pays $42,784 in salary, compensation, and benefits to its employees.
  • The organization pays $0 in fundraising expenses.
  • The organization provides Form 990 to its governing body.
  • The organization pays grants to individuals.
  • The organization has minutes of its meetings.
  • The organization has a written whistleblower policy.
  • The organization's financial statements were reviewed by an accountant.

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