Civic Intelligence

Midlands Technical College Foundation Inc.

990 • Fiscal year 2015 • EIN 23-7085753

Jul 01, 2014 to Jun 30, 2015 • Filed on Oct 27, 2015

Organization ProfileWWW.MTCFOUNDATION.NET
Post Office Box 2408Columbia, SC 29202

(803) 732-5333

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

13th percentile

0.01x

Higher debt load relative to assets than 13% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

11th percentile

0.02x

Higher debt load relative to revenue than 11% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

96th percentile

76%

Higher net margin than 96% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

62nd percentile

$210,057

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 5.4% of source-year revenue.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Balance Sheet
Liabilities / Assets13th percentile

Assets

$9,367,475

No earlier filing loaded for comparison.

Net Assets

$9,272,663

No earlier filing loaded for comparison.

Liabilities

$94,812

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue11th percentileNet Margin96th percentile

Revenue

$3,871,280

No earlier filing loaded for comparison.

Expenses

$934,090

No earlier filing loaded for comparison.

Net Income

$2,937,190

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2015: $9,367,475Liabilities 2015: $94,812Net Assets 2015: $9,272,6632015Assets 2016: $11,087,192Liabilities 2016: $52,892Net Assets 2016: $11,034,3002016Assets 2017: $11,414,632Liabilities 2017: $34,404Net Assets 2017: $11,380,2282017Assets 2018: $11,836,443Liabilities 2018: $80,696Net Assets 2018: $11,755,7472018Assets 2019: $12,547,554Liabilities 2019: $110,087Net Assets 2019: $12,437,4672019Assets 2020: $12,623,815Liabilities 2020: $122,688Net Assets 2020: $12,501,1272020Assets 2021: $15,711,907Liabilities 2021: $55,535Net Assets 2021: $15,656,3722021Assets 2022: $15,088,733Liabilities 2022: $176,675Net Assets 2022: $14,912,0582022Assets 2023: $17,276,422Liabilities 2023: $95,278Net Assets 2023: $17,181,1442023Assets 2024: $20,549,993Liabilities 2024: $185,455Net Assets 2024: $20,364,5382024Assets 2025: $21,358,676Liabilities 2025: $111,560Net Assets 2025: $21,247,1162025

Highlighted filing

2015

Assets$9,367,475
Liabilities$94,812
Net Assets$9,272,663
Open 2015 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0Revenue 2015: $3,871,280Expenses 2015: $934,090Net Income 2015: $2,937,1902015Revenue 2016: $2,464,554Expenses 2016: $1,168,701Net Income 2016: $1,295,8532016Revenue 2017: $1,397,871Expenses 2017: $977,791Net Income 2017: $420,0802017Revenue 2018: $1,670,283Expenses 2018: $1,158,605Net Income 2018: $511,6782018Revenue 2019: $1,793,591Expenses 2019: $958,281Net Income 2019: $835,3102019Revenue 2020: $1,074,934Expenses 2020: $1,050,534Net Income 2020: $24,4002020Revenue 2021: $2,395,413Expenses 2021: $1,121,832Net Income 2021: $1,273,5812021Revenue 2022: $2,613,811Expenses 2022: $1,370,359Net Income 2022: $1,243,4522022Revenue 2023: $4,512,505Expenses 2023: $2,337,747Net Income 2023: $2,174,7582023Revenue 2024: $3,800,252Expenses 2024: $1,517,911Net Income 2024: $2,282,3412024Revenue 2025: $1,875,978Expenses 2025: $1,835,417Net Income 2025: $40,5612025

Highlighted filing

2015

Revenue$3,871,280
Expenses$934,090
Net Income$2,937,190
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Oct 27, 2015
Return Version
2014v5.0
Gross Receipts
$12,146,122
Mission and Program Overview

Mission

To build meaningful relationships with donors that lead to gifts that support the mission of midlands technical college to prepare students for success in the workforce.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$6,906,341$6,854,533▼ $51,808
Pledges and Grants Receivable$720,831$1,774,923▲ $1,054,092
Savings and Temporary Cash Investments$158,907$720,745▲ $561,838
Accounts Receivable$20,417$12,274▼ $8,143
Land, Buildings, and Equipment, Net$5,000$5,000→ $0
Total Assets$7,811,496$9,367,475▲ $1,555,979
Liabilities
Accounts Payable and Accrued Expenses$77,652$94,812▲ $17,160
Total Liabilities$77,652$94,812▲ $17,160
Net Assets / Fund Balance
Permanently Rstr Net Assets$3,176,597$5,304,474▲ $2,127,877
Temporarily Rstr Net Assets$2,184,278$2,525,101▲ $340,823
Unrestricted Net Assets$2,372,969$1,443,088▼ $929,881
Total Net Assets Fund Balance$7,733,844$9,272,663▲ $1,538,819
Total Liabilities and Net Assets / Fund Balance$7,811,496$9,367,475▲ $1,555,979

Asset Categories

AssetBook ValueDepreciationBasis
Land$5,000--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$4,197,636$2,127,877▲ $593,101$49,317$6,689,298
2013$4,003,535$102,540▲ $135,626$44,064$4,197,637
2012$3,927,732$26,436▲ $110,710$61,343$4,003,535
2011$3,943,006$60,125▲ $17,643$84,042$3,927,732
2010$3,522,900$48,665▲ $415,091$52,650$3,943,006
Compensation and Service Providers
Top Officer Pay62nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Marshall White JrEx OfficioPT$44,865$1,289$46,154
Ronald D RhamesEx Officio-$30,198$513$30,711

Board Members and Trustees

NameTitle
Marion a Knox JrChair
Walter JohnsonVice-chair
Barbara W BlauTrustee
David E DubberlyTrustee
Ernie MagaroTrustee
Gerald SweetlandTrustee
John H Hudgens IiiTrustee
Mark PattersonTrustee
Mr Donald CorryTrustee
Solomon Jackson JrTrustee
Ted O Mcgee JrTrustee
William C BarkerTrustee
William KirklandTrustee
Thomas E Persons SrTrustee Emer
Randall JacksonEx Officio
Timothy Q NelsonEx Officio
Scott R AdamsSecretary
R Scott McclellandTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,469,307
Program Service Revenue
$0
Investment Income
$1,401,973
Other Revenue
$0
All Other Contributions
$2,455,307
Change in Net Assets
$2,937,190

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table11$75,244Fair Market Value (FMV)
Cars and Other Vehicles2$38,904Fair Market Value (FMV)
Other Non Cash Contri Table1$1,200Fair Market Value (FMV)
Other Non Cash Contri Table8$1,153Fair Market Value (FMV)
Total Noncash Contributions22$116,501-

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,871,280
Revenue Not Reported on Form 990
$-1,398,371
Total Revenue per Audited Statements
$2,472,909
Total Revenue per Form 990
$3,871,280
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$691,957
Total Fundraising Expense$181,496
Grants and Similar Amounts Paid$124,740
Salaries, Compensation, and Employee Benefits$117,393
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$21,604-$181,496$203,100
Grants to Domestic Individuals$124,740--$124,740
Current Officers, Directors, Trustees, and Key Employees$75,063--$75,063
Office Expenses$54,529--$54,529
Advertising$35,024$16,613-$51,637
Fees for Service Investment Mgmnt Fees-$51,550-$51,550
Other Salaries and Wages$42,330--$42,330
Fees for Services Lobbying$40,000--$40,000
All Other Expenses$5,091$10,286-$15,377
Other Expenses$88,840$8,572-$8,572
Travel-$7,942-$7,942
Fees for Services Accounting-$7,218-$7,218
Fees for Services Management-$3,000-$3,000
Insurance-$2,205-$2,205
Total Functional Expenses$615,222$137,372$181,496$934,090

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$934,090
Total Expenses per Audited Statements$934,090
Total Expenses per Form 990$934,090
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The foundation's 990 will be presented to all board members and the college's administration, and is available for public review on the foundation's website - www.mtcfoundation.net/irs-forms”

Form 990, Page 6, Part VI, Line 15B

“Both the president of the college and senior vice president for business affairs receive compensation from the foundation as voted on by the foundation's members as brought forward through the foundation's board meeting process. The executive committee reviews and formally approves the request, and the motion is brought forward to the full board.”

Form 990, Page 6, Part VI, Line 19

“The governing documents and financial statements of the midlands technical college foundation are made available to the public upon request. Recent 990's are also posted on the foundation's website - www.mtcfoundation.net/irs-forms. Recent 990's are also available via the third party website "guidestar"”

Filing and Contact Details

Filer

Filer Name
Midlands Technical College
EIN
23-7085753
Phone
8037325333
Address
POST OFFICE BOX 2408, COLUMBIA, SC 29202

Signing Officer

Name
Jack Hoekstra
Title
Interim VP
Phone
8037325333
Signed
2015-10-27

Organization Details

Principal Officer
Dr Ronald L Rhames
Formed
1970
Legal Domicile
Sc
Voting Board Members
20
Independent Board Members
20
Employees
0
Volunteers
20

Preparer

Firm
The Brittingham Group Llp
Address
PO BOX 5949, WEST COLUMBIA, SC 29171-5949
Preparer
Harry D Deloach
Phone
8037393090
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Capital campaign 0 0 147,822 division support 21,604 0 0 events 0 0 8,551 general support 0 0 25,123”

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

“Endowment funds in the mtc foundation are used to support scholarships for mtc students, professional development funds for faculty and staff, and support the foundation's annual operating budget.”

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Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,367,475
Liabilities
$94,812
Net assets
$9,272,663
Revenue
$3,871,280
Expenses
$934,090
Net income
$2,937,190
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$21.4$0.11$21.2$1.88$1.84$0.04
2024Detailed filing. Detailed filing data is available for this year.$20.5$0.19$20.4$3.80$1.52$2.28
2023Detailed filing. Detailed filing data is available for this year.$17.3$0.10$17.2$4.51$2.34$2.17
2022Detailed filing. Detailed filing data is available for this year.$15.1$0.18$14.9$2.61$1.37$1.24
2021Detailed filing. Detailed filing data is available for this year.$15.7$0.06$15.7$2.40$1.12$1.27
2020Detailed filing. Detailed filing data is available for this year.$12.6$0.12$12.5$1.07$1.05$0.02
2019Detailed filing. Detailed filing data is available for this year.$12.5$0.11$12.4$1.79$0.96$0.84
2018Detailed filing. Detailed filing data is available for this year.$11.8$0.08$11.8$1.67$1.16$0.51
2017Detailed filing. Detailed filing data is available for this year.$11.4$0.03$11.4$1.40$0.98$0.42
2016Detailed filing. Detailed filing data is available for this year.$11.1$0.05$11.0$2.46$1.17$1.30
2015Detailed filing. Detailed filing data is available for this year.$9.37$0.09$9.27$3.87$0.93$2.94