Overview
What is College Of Charleston Foundation?
The College of Charleston Foundation is a dedicated nonprofit organization based in Charleston, South Carolina, at 66 George Street, 29424. Established over five decades ago, its primary mission is to support the educational, research, and development initiatives of the College of Charleston. In the recent fiscal year ending June 30, 2022, the foundation garnered a record-breaking $23.2 million in commitments, marking an 11% increase from the previous year. The foundation's accomplishments include attracting 9,086 donors, a significant surge of 37% from the prior fiscal year. Additionally, 41 new restricted funds and 34 new endowment funds were established. The foundation also secured $8.6 million in estate intentions, an increase of 10.7% from the previous year. Notably, Friends of the College led the constituencies in new commitments with $8.5 million, followed closely by alumni donors with over $6.7 million. The foundation supports students by providing 1,193 scholarships, funded through more than $4.1 million made available in scholarships and awards. The second annual COFC Day, held on January 27, 2022, was another triumph, raising a total of $6,654,710 in commitments from 2,555 donors. The COFC Day event has rapidly evolved into a powerful platform to foster pride and spirit among alumni, parents, friends, faculty/staff, and students.
Official website here: www.giving.cofc.edu/foundation
What are the reviews and ratings of this charity?
The College Of Charleston Foundation has received a perfect score of 100% from Charity Navigator, earning it a prestigious Four-Star out of Four Star rating. This rating underscores the foundation's exceptional performance in accountability and finance, which is the only measured beacon, highlighting its robust financial health and transparency.
The organization demonstrates significant strengths, such as a fully independent board, comprehensive audit and oversight, and effective policies in place for conflict of interest, whistleblower protection, and document management. Its financial stability is evident with high scores for program expenses, fundraising efficiency, and liabilities to assets ratios, ensuring donor funds are utilized efficiently.
While current evaluation methods from Charity Navigator on impact, culture, and leadership are unavailable, the stellar financial and accountability scores suggest the College Of Charleston Foundation is a reliable and well-managed nonprofit. This foundation operates independently for the benefit of the college, maintaining a clear focus on its educational support mission.
This AI summary has been generated from information found on Charity Navigator.
Is College Of Charleston Foundation legitimate?
College Of Charleston Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. College Of Charleston Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $556,516
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,518,957
For more financial information, click here
Official website here: www.giving.cofc.edu/foundation
What is the mission statement of College Of Charleston Foundation?
The College of Charleston Foundation's mission is centered around promoting educational, research, and development programs, specifically benefiting the College of Charleston. Their goal is to foster programs in education, research, student development, and faculty development for the sole advantage of the College of Charleston. The foundation has been dedicated to supporting the activities and objectives of the college for over five decades. In the fiscal year ending June 30, 2022, they garnered nearly $23.2 million in total commitments, marking a significant increase from the previous fiscal year. The foundation's accomplishments in FY22 include an increase in donors, the creation of new restricted funds and endowments, and a significant rise in commitments from faculty and staff. Approximately 892 students received scholarships funded through philanthropy during this period. The second annual COFC Day, held on January 27, 2022, was another success, raising a significant amount of funds and fostering a sense of pride among various constituencies.
Official website here: www.giving.cofc.edu/foundation
Who is the CEO of College Of Charleston Foundation?
Jr Barnhart is the Chair of College Of Charleston Foundation.
Official website here: www.giving.cofc.edu/foundation
What is the revenue of College Of Charleston Foundation?
College Of Charleston Foundation's revenue in 2022 was $11,402,265.
Official website here: www.giving.cofc.edu/foundation
Who are the executives of College Of Charleston Foundation and what are their salaries?
The average compensation at College Of Charleston Foundation during 2022 was $518,868. There are 4 employees and 49 volunteers at College Of Charleston Foundation.
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Official website here: www.giving.cofc.edu/foundation
Where can I find the form 990 for College Of Charleston Foundation?
College Of Charleston Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.giving.cofc.edu/foundation
Learn more at the official website: www.giving.cofc.edu/foundation
Mission Statement of College Of Charleston Foundation
The College of Charleston Foundation is committed to promoting educational, research, and development programs solely for the benefit of the College of Charleston. Its mission is to foster programs of education, research, student development, and faculty development, contributing significantly to the College's activities and goals. Over the past 50 years, the Foundation has demonstrated its dedication to this mission, raising nearly $23.2 million in commitments during the fiscal year ending June 30, 2022, marking a new high-watermark and an increase of over 11% compared to the previous fiscal year.
The Foundation's accomplishments in FY22 included an increase in donors by over 37% to 9,086, with $7.3 million in cash, stock, and in-kind receipts. Additionally, 41 new restricted funds and 34 new endowment funds were created, and $8.6 million was secured in estate intentions, reflecting a 10.7% increase from the previous fiscal year. The Friends of the College led the constituencies in new commitments with $8.5 million, followed closely by alumni donors with over $6.7 million in commitments. Parents made up the third most generous constituency with $3.8 million in commitments. Furthermore, the commitments by faculty and staff increased by 105% from $276,000 to $565,000. Approximately 892 students received 1,193 scholarships funded through philanthropy, totaling over $4.1 million made available in scholarships and awards.
In conclusion, the College of Charleston Foundation is a dedicated supporter of the College of Charleston's activities and goals. Through its various programs and initiatives, the Foundation promotes education, research, student development, and faculty development, ultimately benefiting the College's students and faculty. Its successful fundraising efforts have enabled it to create new restricted funds, endowments, and scholarships, while also increasing commitments from various constituencies, including alumni, parents, and faculty.
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Impact
October, 2024
The College of Charleston Foundation has significantly enhanced educational opportunities, research initiatives, and student development at the College of Charleston over its more than 50-year history. In the fiscal year ending June 30, 2022, the Foundation achieved remarkable milestones, securing nearly $23.2 million in total commitments—a record high representing an increase of over 11% from the previous year.
Key accomplishments include attracting 9,086 donors, which marks a substantial 37% rise from the prior fiscal year. The Foundation facilitated cash and in-kind contributions totaling $7.3 million and created 41 new restricted funds alongside 34 new endowment funds. Additionally, it garnered $8.6 million in estate commitments, reflecting a 10.7% growth from FY21.
The Foundation's outreach included the establishment of 1,193 scholarships funded through over $4.1 million allocated to scholarships and awards, directly benefiting approximately 892 students. The second annual COFC Day demonstrated the increasing engagement and pride among the College community, raising $6,654,710 from 2,555 donors, further promoting a spirit of unity and support for the institution.
Overall, the Foundation's impact continues to foster a thriving academic environment, drive community engagement, and provide vital resources for students and faculty alike.
This information is meant to be a general summary of College Of Charleston Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $42,534
- Gross Receipts: $25,818,469
Assets and Liabilities:
- Total Assets: $165,475,152
- Total Liabilities: $2,042,442
- Net Assets: $163,432,710
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Organization Details
Founding Year
1970
Phone
(843) 953-3130Principal Officer
Jr Barnhart
Main Address
66 GEORGE STREET, CHARLESTON, SC, 29424
NTEE Category
Code: B114 - Education
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