Volunteer State College Foundation

Volunteer State College Foundation General Information Contact Information Nonprofit Volunteer State College Foundation Address 1480 Nashville Pike Gallatin, TN 37066 3188 Phone (615) 230-3506 Fax 615 230-3508 Web Site Web Site Facebook Facebook Email foundation@volstate.edu At A Glance Year of Incorporation 1989 1

Mission & Impact Statements Mission To raise and administer funds to support the educational objectives of Volunteer State Community College and to solicit the active involvement of all communities within our service area. Volunteer State College Foundation is entrenched in the local communities of our 12 county service areas. We recognize the need for students to acquire an education. While we are proud of our lower tuition rate, we also recognize that the cost of tuition is what will keep some students from acquiring an education. By providing scholarships, we help our students and the communities we serve. It is surprising to see how many students are willing to give back because they remember how much the help meant to them. With the economic challenges facing us, it is more important than ever for students to have an education in order to be marketable and survive on their own. We are able to provide skills that will last a lifetime. Background Volunteer State College Foundation was founded in 1989 by the first President of the College along with other community leaders. They saw the need for students to have help with tuition and they had a vision for the College and for our community. The need for a more educated workforce drove this group of leaders to begin raising funds to help students obtain their dream of an education. They saw students who weren t able to attend college due to lack of funds. Through the foresight and dedication of these community leaders, the Volunteer State Community College Foundation was formed and they began raising money to help students realize their vision for their life while also helping to provide the community with a better educated workforce. Today we continue to have strong community leaders who love to invest their time to help further educational dreams. Our challenges have grown with the state appropriation to community colleges continuing to shrink and the colleges sustenance becoming more dependent on the community. However, with strong support from the community, our Board of Trustees never back down from the challenge. Impact Last year Volunteer State College Foundation: 1. Awarded 179 scholarships to students during the 2016-2017 academic year totaling over $300,000. 2. Implemented an improved scholarship award process which ensured a higher accountability rate for the scholarships awarded. 3. The Tennessee Small Business Development Center served 213 clients and had over 700 seminar attendees, with sixteen new businesses started. 4. We have raised over $400,000 towards a major renovation of the Warf Math and Science Building. Our top goals for next year are: 1. Raising money for scholarships. Our goal is to help as many students as possible achieve their dream of obtaining an education. 2. We want to grow the Tennessee Small Business Development Center, which is housed at VSCC. The Tennessee Small Business Development Center offers free and confidential one-on-one counseling for existing and start-up businesses, as well as offers free and inexpensive workshops designed for the small business owner. The TSBDC is funded by a matching grant which means we must raise community support of $40,000 to continue operating the program. 3. Complete a Capital Campaign, to fund renovations to the Warf Building, with a goal of $475,000. 4. Increase awareness that Tennessee Promise will not provide scholarships for everyone and we still need the support of the community. 2

Needs The most pressing needs for the Volunteer State College Foundation: 1. Increase funds available for scholarships, especially non-traditional students. 2. Increase the numbers of scholarships awarded to qualified applicants. 3. Provide $475,00 in capital funds in order to refurbish the Warf Math and Science Building. 4. Fully fund the TSBDC (Tennessee Small Business Development Center) 5. Actively engage alumni and other community members in events to promote the College and support programs. Other ways to donate, support, or volunteer Ways to Give include: direct mail, phone donations, in-kind donations, on-line through Vol State Website(www.volstate.edu), planned gifts, bequests, memorial and tribute gifts, and IRAs. Ways to Volunteer: Serving on event committees, helping with Alumni events, mentoring current students, offering job shadowing and internship opportunities, and helping with campaigns. Service Categories Primary Organization Category Education / Two-Year Colleges Secondary Organization Category Science & Technology / Fund Raising & Fund Distribution Tertiary Organization Category Employment / Job Training Areas of Service Areas Served TN Volunteer State Community College serves 11 counties: Clay, Pickett, Overton, Putnam, Jackson, Smith, Trousdale, Macon, Wilson, Robertson and Sumner. Board Chair Statement Education is a fundamental building block for a successful future. Building relationships with students, faculty, and area donors is truly a rewarding endeavor that helps provide this opportunity. Tennessee is fortunate to have a Tennessee Promise Program, but our VSCF WE STILL NEED YOU communications are critical for donors to understand that our Tennessee Promise program only supports tuition, and then only for graduating seniors. The majority of students at VSCC are returning students after being out of school for a while. Last year, we provided some form of scholarship funding for approximately 200 students, and we are trying to increase that number each year. We are here to help all students advance their skills and knowledge, and I am honored to serve on the Volunteer State College Foundation and be a part of helping students achieve their future dreams! Susan High-McAuley 2016-2017 VSCF Chair 3

CEO Statement While we are thrilled with the opportunities that Tennessee Promise has provided students right out of high school, over 80% of our student population does not qualify for Tennessee Promise or Tennessee Reconnect. The difference that scholarships make in the lives of students is priceless. Some of these students face significant challenges while attempting to pay for education. Many of our students have talked about their scholarships as being life changing for them. Some of them even give back once they have obtained a good job. This is why we strive to help these students achieve their dreams of a college education. Thank you for considering a partnership in making the hopes and dreams of students come true! 4

Programs Programs Student Scholarships Description While a community college offers quality education at affordable prices, the tuition can still be a stumbling block for many students. The more students we can help with their tuition cost, the more educated our communities will become. We offer academic scholarships as well as need based scholarships. Budget 2,000,000 Population Served,, Tennessee Small Business Development Center Description Volunteer State Community College has a Small Business Development Center that offers free and confidential counseling to any small business in our service areas. The TSBDS also offers classes such as "Developing a Business Plan" and "Marketing" at a nominal fee. The TSBDC is funded through a grant and a match from community donations. Budget 40,000 Population Served,, Warf Renovations Capital Campaign Description One of the oldest buildings on campus, Warf, needs major improvements. In order to support changing technologies and teaching methodologies, the 40 year old Warf building needs an overhaul. Population Served,, CEO Comments There are significant challenges facing higher education today with regard to funding. For some reason, on state levels, and even county levels, funding for higher education no longer seems to be a priority. It has begun to fall on private donations for help. While we are thrilled with the opportunities that Tennessee Promise will provide our students, we are struggling to help our community understand that donations are still needed. Tennessee Promise is only available to graduating high school seniors and only pays for tuition. 80% of our students are not qualified for Tennessee Promise funds. We have recently started a "We Still Need You" campaign to educate our community that many of our students are still in need of scholarships. 5

Governance Board Chair Board Chair Ms. Susan High-McAuley Company Affiliation Gallatin TN Term July 2016 to June 2017 Email susan.high-mcauley@gallatin-tn.gov Board Members Name Affiliation Status Mr. David Amonette 6 Ms. Katherine Dake Armstrong Mini Crest Mobile Hom Park Ms. Shirley Arrendale Retired Mr. Bob Atkins Retired Mr. Al Bennett Retired Congressman Diane Black US Congress Mr. Lou Bratton Mr. Kee Bryant-McCormick Dr. Mark Carter Mrs. Rae Collier ReMax Choice Properties Mr. Tommy Decker Wilson Bank and Trust Dr. Jerry Faulkner Volunteer State Community College Exofficio Dr. Andrew Finney Perkins Drugs Mr. Johnny C. Garrett IV Garrett Brothers Representative Jim Gotto TN State Representative Chancellor Tom Gray Sumner County Court Mrs. Jan Hallmark HCA Physician Services Mr. James Harding Volunteer Behavior Health Care Mr. Ron Hibbard Ron Hibbard Toyota Mrs. Susan High-McAuley Bone McAllester Norton Mr. Ray Houston Retired Mr. Robert L Jennings Jennings & Clouse, PLC Mrs. Lori Johnson Sumner Regional HealthCare Ms. Dixie Jones Community Volunteer Mr. David R. Jose Mr. Bill Kemp Sumner County Clerk Mr. L.K. Lannom Mr. Ronald E. Mayberry Citizens Bank Mrs. Karen Mitchell Volunteer State College Foundation Exofficio Mrs. Mary Anne Mudd Mudd Properties Mr. William L. Nichols First Financial Group

Mr Steve Parker Parker CPA Mr. David Bate Parsons Baker, Campbell & Parsons Mr. James Pope Retired Dr. R. Wade Powers Retired Mr. Matt Ricker Volunteer State Bank Mr. Richard Rowlett Rowlett Advertising Mr. Brian Schnabel Mr. W.E. Shaw W.E. Shaw & Associates, LLC Dr. F. William Taylor Just 4 Kids Teeth Mrs. Grace Tomkins Community Volunteer Mrs. Joanne Walker Retired Ms. Sandy Webster Ms. Betty Zuccarello Retired Board Demographics - Ethnicity African American/Black 2 Asian American/Pacific Islander 0 Caucasian 40 Hispanic/Latino 0 Native American/American Indian 0 Other 0 Board Demographics - Gender Male 28 Female 14 Unspecified 0 Governance Board Term Lengths 3 Board Term Limits 2 Board Meeting Attendance % 44% Written Board Selection Criteria? Written Conflict of Interest Policy? Yes Yes Percentage Making Monetary Contributions 84% Percentage Making In-Kind Contributions 23% Constituency Includes Client Representation No Number of Full Board Meetings Annually 4 Board CoChair 7

Board CoChair Dr. Andrew Finney Company Affiliation Perkins Drug and Gift Shoppe Term July 2016 to June 2017 Email andrewfinney@bellsouth.net Standing Committees Executive Investment Nominating Special Events (Golf Tournament, Walk / Run, Silent Auction, Dinner / Gala) Risk Management Provisions Special Event Liability Directors and Officers Policy Commercial General Liability Additional Board Members Name Ms. Shirlene Campbell Ms. Kristin Clark Ms. Terri Crutcher Dr. Andrew Finney Mr. Bobby Hudson Ms. Diane Hughes Mr. Ed Mayberry Ms. Karen Mitchell Dr. Rick Parrent Mr. Dennis Powers Ms. Lori Stephens Mr. Tony Willett Affiliation Mid-Cumberland Head Start Belmont University Volunteer State Community College Center of Emphasis Perkins Drugs Volunteer State Community College Athletic Director Gannett Citizens Bank Volunteer State College Foundation Volunteer State Community College Career Placement Mc Clellan Powers Ehmling Middle Tennessee State University Wood Financial Group 8

Management Executive Director/CEO Executive Director Term Start May 2007 Email Experience 19 Years Experience Mrs. Karen Mitchell karen.mitchell@volstate.edu Co-CEO Experience Former CEOs Name Term Dr. Stan Cole Mar 2004 - Mar 2007 Ms. Brenda Payne Jan 1995 - Apr 2004 Staff Full Time Staff 5 Part Time Staff 0 Volunteers 60 Contractors 0 Retention Rate 83% Plans & Policies Does the organization have a documented Fundraising Plan? Yes Does the organization have an approved Strategic Plan? Yes Number of years Strategic Plan Considers 5 When was Strategic Plan adopted? Sept 2014 In case of a change in leadership, is a Management Succession plan in place? No Does the organization have a Policies and Procedures Plan? Under Development Does the organization have a Nondiscrimination Policy? Yes 9

Does the organization have a Whistle Blower Policy? No Does the organization have a Document Destruction Policy? No 10

Financials Fiscal Year Fiscal Year Start July 01 2016 Fiscal Year End June 30 2017 Projected Revenue $31,400.00 Projected Expenses $31,400.00 Endowment Value $4,330,861.00 Endowment Spending Policy Percentage Endowment Spending Percentage (if selected) 80% Detailed Financials Revenue and Expenses Total Revenue $938,883 $1,127,579 $2,034,559 Total Expenses $1,322,272 $1,297,644 $1,701,707 Revenue Sources Foundation and Corporation $0 $25,000 $532,162 Contributions Government Contributions $0 $73,759 $0 Federal $0 $0 $0 State $0 $0 $0 Local $0 $73,759 $0 Unspecified $0 $0 $0 Individual Contributions $379,028 $362,902 $554,261 Indirect Public Support $0 $0 $0 Earned Revenue $0 $0 $0 Investment Income, Net of Losses ($28,711) $93,464 $414,960 Membership Dues $0 $0 $0 Special Events $126,124 $146,622 $101,785 Revenue In-Kind $26,842 $34,093 $35,927 Other $435,600 $391,739 $395,464 11

Expense Allocation Program Expense $1,168,845 $1,132,796 $1,530,057 Administration Expense $153,427 $164,848 $171,650 Fundraising Expense $0 $0 $0 Payments to Affiliates $0 $0 $0 Total Revenue/Total Expenses 0.71 0.87 1.20 Program Expense/Total Expenses 88% 87% 90% Fundraising Expense/Contributed Revenue 0% 0% 0% Assets and Liabilities Total Assets $5,648,317 $6,025,262 $6,198,715 Current Assets $1,039,230 $1,085,311 $1,707,540 Long-Term Liabilities $0 $0 $0 Current Liabilities $35,074 $23,877 $27,265 Total Net Assets $5,613,243 $6,001,385 $6,171,450 Short Term Solvency Current Ratio: Current Assets/Current Liabilities 29.63 45.45 62.63 Long Term Solvency Long-Term Liabilities/Total Assets 0% 0% 0% Top Funding Sources Top Funding Source & Dollar Amount Other Revenue $435,600 Second Highest Funding Source & Dollar Amount Third Highest Funding Source & Dollar Amount Contributions, Gifts and Grants $379,028 Fundraising Events $126,124 Related Organizations & Other Revenue $391,739 Contributions, Gifts and Grants $362,902 Fundraising Events $146,622 Contributions, Gifts & Grants $554,261 Foundations and Corporations $532,162 Investment Income $414,960 Capital Campaign Is the organization currently conducting a Capital Campaign for an endowment or the purchase of a major asset? Yes Campaign Purpose A Capital Campaign has been developed to support renovations to the Warf Math and Science Building. The campaign has raised over $400,000 of the $475,000 goal. Capital Campaign Goal $475,000.00 Campaign Start and End Dates July 2016 to July 2017 Capital Campaign Raised-to-Date Amount $414,000.00 as of May 2017 Capital Campaign Anticipated in Next 5 Years? No State Charitable Solicitations Permit TN Charitable Solicitations Registration Exempt - Expires 0 12

Organization Comments Regarding Endowment Spending Policy and Yearly Scholarship Appropriations: The Investment Committee shall meet each January (after the Investment Managers make their annual presentation) to recommend appropriation for expenditure or accumulation of endowment funds for the succeeding year in accordance with the Uniform Prudent Management of Institutional Funds Act (TCA 35-10- 204). Restricted Endowed Scholarship Funds The income from restricted endowed scholarship funds shall be appropriated in accordance with donor-imposed restrictions. In the absence of such restrictions 80% of the income will be used to provide scholarships and 20% will be re-invested and added to principal. Quasi-Endowment Funds In order to match spending with the current total return investment policy, appropriations from quasiendowment funds shall be based on a percentage of the fair market value of the funds. The initial recommended percentage is 3% but in no case shall the percentage exceed 7%. Fair market values are to be calculated quarterly and averaged over a period of five (5) years immediately preceding the year in which the appropriation is made. For a fund in existence fewer than five (5) years the calculation will be made for the period of time the fund has been in existence. The Investment Committee shall make their recommendation to the Executive Committee prior to presentation to the full board for approval in February. GivingMatters.com Financial Comments Financial figures are taken from the 990. 990 was prepared by Jennings & Clouse, PLC. Schedule B removed to protect donor privacy. Comments provided by Kathryn Bennett 6/2/17. Created 11.23.2017. Copyright 2017 The Community Foundation of Middle Tennessee 13