Civic Intelligence

Midlands Technical College Foundation Inc.

990 • Fiscal year 2017 • EIN 23-7085753

Jul 01, 2016 to Jun 30, 2017 • Filed on Oct 03, 2017

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

9th percentile

0.00x

Higher debt load relative to assets than 9% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

11th percentile

0.02x

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

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

84th percentile

30%

Higher net margin than 84% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

76th percentile

$279,488

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 20.0% of source-year revenue.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

44th percentile

3.0%

Faster asset growth than 44% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

5th percentile

-43%

Faster revenue growth than 5% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets9th percentile

Assets

Up

$11,414,632

Up $327,440 (+3.0%) from 2016

Net Assets

Up

$11,380,228

Up $345,928 (+3.1%) from 2016

Liabilities

Down

$34,404

Down $18,488 (-35%) from 2016

Revenue And Expenses
Liabilities / Revenue11th percentileNet Margin84th percentile

Revenue

Down

$1,397,871

Down $1,066,683 (-43%) from 2016

Expenses

Down

$977,791

Down $190,910 (-16%) from 2016

Net Income

Down

$420,080

Down $875,773 (-68%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth44th percentile

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

2017

Assets$11,414,632
Liabilities$34,404
Net Assets$11,380,228
Open 2017 Filing

Operations Trend

Revenue Growth5th percentile

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

2017

Revenue$1,397,871
Expenses$977,791
Net Income$420,080
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Oct 3, 2017
Return Version
2016v3.0
Gross Receipts
$6,383,792
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$8,023,917$8,804,720▲ $780,803
Pledges and Grants Receivable$2,721,657$2,043,380▼ $678,277
Savings and Temporary Cash Investments$318,450$543,069▲ $224,619
Accounts Receivable$18,168$18,463▲ $295
Land, Buildings, and Equipment, Net$5,000$5,000→ $0
Total Assets$11,087,192$11,414,632▲ $327,440
Liabilities
Accounts Payable and Accrued Expenses$52,892$34,404▼ $18,488
Total Liabilities$52,892$34,404▼ $18,488
Net Assets / Fund Balance
Permanently Rstr Net Assets$6,560,616$6,849,826▲ $289,210
Temporarily Rstr Net Assets$2,427,301$2,704,966▲ $277,665
Unrestricted Net Assets$2,046,383$1,825,436▼ $220,947
Total Net Assets Fund Balance$11,034,300$11,380,228▲ $345,928
Total Liabilities and Net Assets / Fund Balance$11,087,192$11,414,632▲ $327,440

Asset Categories

AssetBook ValueDepreciationBasis
Land$5,000--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$8,200,940$289,210▲ $246,622$101,021$8,635,751
2015$6,869,298$1,258,470▲ $156,573$83,401$8,200,940
2014$4,197,637$2,127,877▲ $593,101$49,317$6,869,298
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
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ronald D RhamesTrustee EmerPT$88,900$190,588$279,488
Ronald D RhamesTrustee Emeritus-$88,900-$88,900

Board Members and Trustees

NameTitle
Walter JohnsonChair
Scott R AdamsVice Chair
Barbara W BlauTrustee
David E DubberlyTrustee
David WollardTrustee
Ernest Magaro IiiTrustee
Ernie Magaro JrTrustee
Gerald SweetlandTrustee
James L BraunTrustee
Joseph PowersTrustee
Judge Tomothy C EdmondTrustee
Marion a Knox JrTrustee
Michael WilliamsTrustee
Robert BrinkerhoffTrustee
Ryan DukesTrustee
Solomon Jackson JrTrustee
William KirklandTrustee
Willis Langley IiiTrustee
James ReynoldsTrustee Emer
Thomas E Persons SrTrustee Emer
Gwen HamptonSecretary
R Scott McclellandTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$954,547
Program Service Revenue
$0
Investment Income
$435,775
Other Revenue
$7,549
All Other Contributions
$928,047
Change in Net Assets
$420,080

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,222,737
Revenue Not Reported on Financial Statements
$175,134
Revenue Not Reported on Form 990
$115,131
Other Revenue Adjustments
$175,134
Total Revenue per Audited Statements
$1,337,868
Total Revenue per Form 990
$1,397,871
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$603,564
Grants and Similar Amounts Paid$238,005
Total Fundraising Expense$153,060
Salaries, Compensation, and Employee Benefits$136,222
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$99,003$507$148,677$248,187
Grants to Domestic Individuals$238,005--$238,005
Current Officers, Directors, Trustees, and Key Employees$88,900--$88,900
Office Expenses$64,032$6,000$2,540$72,572
Fees for Service Investment Mgmnt Fees-$55,015-$55,015
Other Salaries and Wages$47,322--$47,322
Fees for Services Lobbying$40,208--$40,208
All Other Expenses$10,940$12,874-$23,814
Travel$10,223$6,374-$16,597
Fees for Services Accounting-$12,620-$12,620
Advertising$9,557-$1,843$11,400
Other Expenses$13,261$6,887-$6,887
Fees for Services Management-$3,000-$3,000
Insurance-$2,138-$2,138
Total Functional Expenses$702,028$122,703$153,060$977,791

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$991,940
Expenses per Audited Statements$977,791
Total Expenses per Form 990$977,791
Expenses Not Reported on Form 990$14,149
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$21,698
Fundraising Direct Expenses$14,149
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$21,698$21,698$14,149$7,549
Total Events$21,698$21,698$14,149$7,549
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
Ronald D Rhames
Title
Trustee Emeritus
Phone
8038223269
Signed
2017-10-03

Organization Details

Principal Officer
Ronald D Rhames
Formed
1970
Legal Domicile
Sc
Voting Board Members
23
Independent Board Members
23
Employees
0
Volunteers
23

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

“Other contractual 99,003 507 425 general support 0 0 5,344 events 0 0 16,020 direct mailing 0 0 42,839 capital campaign 0 0 46,381 management consultants 0 0 37,668 total 99,003 507 148,677”

Form 990, Part XI, Line 9

“Reclass for tax prep purposes 14,149 collection of proceeding years pledges -175,134 reclass for tax prep purposes -14,149 total -175,134”

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.”

Schedule D, Page 4, Part XI, Line 2D

“Reclass for tax prep purposes 14,149”

Schedule D, Page 4, Part XI, Line 4B

“Collection of proceeding years pledges 175,134”

Schedule D, Page 4, Part XII, Line 2D

“Reclass for tax prep purposes 14,149”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,414,632
Liabilities
$34,404
Net assets
$11,380,228
Revenue
$1,397,871
Expenses
$977,791
Net income
$420,080
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