Civic Intelligence

Midlands Technical College Foundation Inc.

990 • Fiscal year 2018 • EIN 23-7085753

Jul 01, 2017 to Jun 30, 2018 • Filed on Oct 05, 2018

Organization ProfileWWW.MIDLANDSTECH.EDU
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

12th percentile

0.01x

Higher debt load relative to assets than 12% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

16th percentile

0.05x

Higher debt load relative to revenue than 16% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Net Margin

84th percentile

31%

Higher net margin than 84% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

77th percentile

$284,845

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 17.1% of source-year revenue.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2018

Asset Growth

57th percentile

3.7%

Faster asset growth than 57% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

77th percentile

19%

Faster revenue growth than 77% of similar nonprofits.

2018 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets12th percentile

Assets

Up

$11,836,443

Up $421,811 (+3.7%) from 2017

Net Assets

Up

$11,755,747

Up $375,519 (+3.3%) from 2017

Liabilities

Up

$80,696

Up $46,292 (+135%) from 2017

Revenue And Expenses
Liabilities / Revenue16th percentileNet Margin84th percentile

Revenue

Up

$1,670,283

Up $272,412 (+19%) from 2017

Expenses

Up

$1,158,605

Up $180,814 (+18%) from 2017

Net Income

Up

$511,678

Up $91,598 (+22%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth57th 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

2018

Assets$11,836,443
Liabilities$80,696
Net Assets$11,755,747
Open 2018 Filing

Operations Trend

Revenue Growth77th 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

2018

Revenue$1,670,283
Expenses$1,158,605
Net Income$511,678
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Oct 5, 2018
Return Version
2017v2.3
Gross Receipts
$4,789,231
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$8,804,720$9,992,113▲ $1,187,393
Pledges and Grants Receivable$2,043,380$1,333,553▼ $709,827
Savings and Temporary Cash Investments$543,069$474,676▼ $68,393
Accounts Receivable$18,463$31,101▲ $12,638
Land, Buildings, and Equipment, Net$5,000$5,000→ $0
Total Assets$11,414,632$11,836,443▲ $421,811
Liabilities
Accounts Payable and Accrued Expenses$34,404$80,696▲ $46,292
Total Liabilities$34,404$80,696▲ $46,292
Net Assets / Fund Balance
Permanently Rstr Net Assets$6,849,826$6,971,264▲ $121,438
Temporarily Rstr Net Assets$2,704,966$3,217,689▲ $512,723
Unrestricted Net Assets$1,825,436$1,566,794▼ $258,642
Total Net Assets Fund Balance$11,380,228$11,755,747▲ $375,519
Total Liabilities and Net Assets / Fund Balance$11,414,632$11,836,443▲ $421,811

Asset Categories

AssetBook ValueDepreciationBasis
Land$5,000--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$8,635,751$121,904▲ $297,615$132,060$8,923,210
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
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ronald L RhamesEx OfficioPT$92,888$191,957$92,888

Board Members and Trustees

NameTitle
Walter JohnsonChair
Scott R AdamsVice Chair
Barbara W BlauTrustee
Christian Stormer CPATrustee
David E DubberlyTrustee
David WoolardTrustee
Dr Krystal L ConnerTrustee
Ernie Magaro IiiTrustee
Gerald SweetlandTrustee
James L BraunTrustee
Joseph PowersTrustee
Judge Tomothy C EdmondTrustee
Michael WilliamsTrustee
Solomon Jackson JrTrustee
Steve MallettTrustee
Tamara HendersonTrustee
William KirklandTrustee
Willis Langley IiiTrustee
James ReynoldsTrustee Emer
Thomas E Persons SrTrustee Emer
Debbie M WalkerEx Officio
Gwen HamptonSecretary
R Scott McclellandTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,290,385
Program Service Revenue
$0
Investment Income
$379,898
Other Revenue
$0
All Other Contributions
$1,237,385
Change in Net Assets
$511,678

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 Amount
Other Non Cash Contri Table1$125,439
Other Non Cash Contri Table17$111,113
Total Noncash Contributions18$236,552

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,394,862
Revenue Not Reported on Financial Statements
$275,421
Revenue Not Reported on Form 990
$139,262
Other Revenue Adjustments
$275,421
Total Revenue per Audited Statements
$1,534,124
Total Revenue per Form 990
$1,670,283
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$667,198
Grants and Similar Amounts Paid$362,422
Total Fundraising Expense$143,103
Salaries, Compensation, and Employee Benefits$128,985
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$362,422--$362,422
Fees for Services Other-$4,806$134,171$138,977
Current Officers, Directors, Trustees, and Key Employees$92,888--$92,888
Fees for Service Investment Mgmnt Fees-$62,141-$62,141
Fees for Services Lobbying$40,416--$40,416
Other Salaries and Wages$36,097--$36,097
Office Expenses$19,832$6,878$3,287$29,997
All Other Expenses$7,748$20,204-$27,952
Advertising$6,423-$5,645$12,068
Other Expenses$11,088--$11,088
Fees for Services Accounting-$7,900-$7,900
Travel$1,100$4,825-$5,925
Fees for Services Management-$3,000-$3,000
Insurance-$2,138-$2,138
Total Functional Expenses$903,610$111,892$143,103$1,158,605

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,158,605
Total Expenses per Audited Statements$1,158,605
Total Expenses per Form 990$1,158,605
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.midlandstech.edu/about/mtc- foundation/foundation-financials.”

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.midlandstech.edu/about/mtc-foundation/foundation-financials. In addition, they 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
Debbie M Walker
Title
Ex Officio
Phone
8038223404
Signed
2018-10-05

Organization Details

Principal Officer
Debbie M Walker
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 0 4,806 200 general support 0 0 2,373 events 0 0 6,709 direct mailing 0 0 54,913 capital campaign 0 0 39,427 management consultants 0 0 30,549 total 0 4,806 134,171”

Form 990, Part XI, Line 9

“Collection of proceedings years pledges -275,421”

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 4B

“Collection of prior year pledges 275,421”

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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,836,443
Liabilities
$80,696
Net assets
$11,755,747
Revenue
$1,670,283
Expenses
$1,158,605
Net income
$511,678
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