Civic Intelligence

Midlands Technical College Foundation Inc.

990 • Fiscal year 2016 • EIN 23-7085753

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 01, 2016

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

10th percentile

0.00x

Higher debt load relative to assets than 10% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

10th percentile

0.02x

Higher debt load relative to revenue than 10% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

92nd percentile

53%

Higher net margin than 92% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

67th percentile

$230,000

Higher top officer pay than 67% of similar nonprofits.

Top officer pay equals 9.3% of source-year revenue.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

84th percentile

18%

Faster asset growth than 84% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

9th percentile

-36%

Faster revenue growth than 9% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets10th percentile

Assets

Up

$11,087,192

Up $1,719,717 (+18%) from 2015

Net Assets

Up

$11,034,300

Up $1,761,637 (+19%) from 2015

Liabilities

Down

$52,892

Down $41,920 (-44%) from 2015

Revenue And Expenses
Liabilities / Revenue10th percentileNet Margin92nd percentile

Revenue

Down

$2,464,554

Down $1,406,726 (-36%) from 2015

Expenses

Up

$1,168,701

Up $234,611 (+25%) from 2015

Net Income

Down

$1,295,853

Down $1,641,337 (-56%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth84th 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

2016

Assets$11,087,192
Liabilities$52,892
Net Assets$11,034,300
Open 2016 Filing

Operations Trend

Revenue Growth9th 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

2016

Revenue$2,464,554
Expenses$1,168,701
Net Income$1,295,853
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 1, 2016
Return Version
2015v2.1
Gross Receipts
$4,925,691
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$6,854,533$8,023,917▲ $1,169,384
Pledges and Grants Receivable$1,774,923$2,721,657▲ $946,734
Savings and Temporary Cash Investments$720,745$318,450▼ $402,295
Accounts Receivable$12,274$18,168▲ $5,894
Land, Buildings, and Equipment, Net$5,000$5,000→ $0
Total Assets$9,367,475$11,087,192▲ $1,719,717
Liabilities
Accounts Payable and Accrued Expenses$94,812$52,892▼ $41,920
Total Liabilities$94,812$52,892▼ $41,920
Net Assets / Fund Balance
Permanently Rstr Net Assets$5,304,474$6,560,616▲ $1,256,142
Temporarily Rstr Net Assets$2,525,101$2,427,301▼ $97,800
Unrestricted Net Assets$1,443,088$2,046,383▲ $603,295
Total Net Assets Fund Balance$9,272,663$11,034,300▲ $1,761,637
Total Liabilities and Net Assets / Fund Balance$9,367,475$11,087,192▲ $1,719,717

Asset Categories

AssetBook ValueDepreciationBasis
Land$5,000--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
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
2011$3,943,006$60,125▲ $17,643$84,042$3,927,732
Compensation and Service Providers
Top Officer Pay67th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ronald D RhamesTrustee EmerPT$70,593$159,407$230,000
Ronald D RhamesTrustee Emeritus-$70,593-$70,593

Board Members and Trustees

NameTitle
Marion a Knox JrChair
Walter JohnsonVice-chair
Barbara W BlauTrustee
David E DubberlyTrustee
David WollardTrustee
Ernest Magaro IiiTrustee
Ernie Magaro JrTrustee
Gerald SweetlandTrustee
Gwen HamptonTrustee
Joseph PowersTrustee
Michael WilliamsTrustee
Mr Donald CorryTrustee
Randall HalfacreTrustee
Ryan DukesTrustee
Solomon Jackson JrTrustee
William KirklandTrustee
James ReynoldsTrustee Emer
Thomas E Persons SrTrustee Emer
Scott R AdamsSecretary
R Scott McclellandTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Copley Raff INCMgmt Consultant233 NEEDHAM STREET SUITE 300, Newton, MA 02464$171,855
Revenue and Support

Revenue Composition

Contributions and Grants
$2,427,705
Program Service Revenue
$0
Investment Income
$20,835
Other Revenue
$16,014
All Other Contributions
$2,412,705
Change in Net Assets
$1,295,853

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
Cars and Other Vehicles4$88,862Fair Market Value (FMV)
Other Non Cash Contri Table6$42,845Fair Market Value (FMV)
Other Non Cash Contri Table2$15,750Fair Market Value (FMV)
Other Non Cash Contri Table30$3,976Fair Market Value (FMV)
Total Noncash Contributions42$151,433-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,464,554
Revenue Not Reported on Form 990
$465,784
Total Revenue per Audited Statements
$2,930,338
Total Revenue per Form 990
$2,464,554
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$698,835
Grants and Similar Amounts Paid$348,835
Total Fundraising Expense$260,610
Salaries, Compensation, and Employee Benefits$121,031
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$348,835--$348,835
Fees for Services Other$7,916$820$259,594$268,330
Current Officers, Directors, Trustees, and Key Employees$70,593--$70,593
Office Expenses$61,127$645$357$62,129
Other Salaries and Wages$50,438--$50,438
Fees for Services Lobbying$40,520--$40,520
Fees for Service Investment Mgmnt Fees-$34,009-$34,009
Fees for Services Accounting-$11,019-$11,019
Advertising$6,393-$659$7,052
All Other Expenses$5,070$1,647-$6,717
Other Expenses$102,998$3,212-$3,212
Fees for Services Management-$3,000-$3,000
Insurance-$2,138-$2,138
Travel-$984-$984
Total Functional Expenses$845,323$62,768$260,610$1,168,701

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,168,701
Total Expenses per Audited Statements$1,168,701
Total Expenses per Form 990$1,168,701
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$38,000
Fundraising Direct Expenses$21,986
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$38,000$38,000$21,986$16,014
Total Events$38,000$38,000$21,986$16,014
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
8037325333
Signed
2016-11-01

Organization Details

Principal Officer
Ronald D Rhames
Formed
1970
Legal Domicile
Sc
Voting Board Members
21
Independent Board Members
21
Employees
0
Volunteers
21

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 7,916 820 0 general support 0 0 1,179 events 0 0 23,949 direct mailing 0 0 4,689 capital campaign 0 0 54,597 management consultants 0 0 175,180”

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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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

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,087,192
Liabilities
$52,892
Net assets
$11,034,300
Revenue
$2,464,554
Expenses
$1,168,701
Net income
$1,295,853
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