Civic Intelligence

Midlands Technical College Foundation Inc.

990 • Fiscal year 2021 • EIN 23-7085753

Jul 01, 2020 to Jun 30, 2021 • Filed on Oct 11, 2021

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

11th percentile

0.00x

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

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

13th percentile

0.02x

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

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

87th percentile

53%

Higher net margin than 87% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

75th percentile

$271,424

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 11.3% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

77th percentile

24%

Faster asset growth than 77% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

91st percentile

123%

Faster revenue growth than 91% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets11th percentile

Assets

Up

$15,711,907

Up $3,088,092 (+24%) from 2020

Net Assets

Up

$15,656,372

Up $3,155,245 (+25%) from 2020

Liabilities

Down

$55,535

Down $67,153 (-55%) from 2020

Revenue And Expenses
Liabilities / Revenue13th percentileNet Margin87th percentile

Revenue

Up

$2,395,413

Up $1,320,479 (+123%) from 2020

Expenses

Up

$1,121,832

Up $71,298 (+6.8%) from 2020

Net Income

Up

$1,273,581

Up $1,249,181 (+5120%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth77th 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

2021

Assets$15,711,907
Liabilities$55,535
Net Assets$15,656,372
Open 2021 Filing

Operations Trend

Revenue Growth91st 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

2021

Revenue$2,395,413
Expenses$1,121,832
Net Income$1,273,581
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Oct 11, 2021
Return Version
2020v4.0
Gross Receipts
$4,628,470
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$12,098,876$15,248,025▲ $3,149,149
Pledges and Grants Receivable$250,840$248,378▼ $2,462
Savings and Temporary Cash Investments$236,546$178,095▼ $58,451
Accounts Receivable$32,553$32,409▼ $144
Land, Buildings, and Equipment, Net$5,000$5,000→ $0
Total Assets$12,623,815$15,711,907▲ $3,088,092
Liabilities
Accounts Payable and Accrued Expenses$122,688$55,535▼ $67,153
Total Liabilities$122,688$55,535▼ $67,153
Net Assets / Fund Balance
Net Assets With Donor Restrictions$11,054,576$13,976,735▲ $2,922,159
Net Assets Without Donor Restrictions$1,446,551$1,679,637▲ $233,086
Total Net Assets Fund Balance$12,501,127$15,656,372▲ $3,155,245
Total Liabilities and Net Assets / Fund Balance$12,623,815$15,711,907▲ $3,088,092

Asset Categories

AssetBook ValueDepreciationBasis
Land$5,000--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$12,078,061$769,027▲ $1,930,557$194,447$12,078,061
2019$9,520,400$190,225▲ $10,160$147,861$9,572,924
2018$8,923,210$105,456▲ $587,974$96,240$9,520,400
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
Compensation and Service Providers
Top Officer Pay75th percentile

Employees

NameTitleBaseOtherTotal
Dr Ronald L RhamesEx Officio$100,889$170,535$100,889

Board Members and Trustees

NameTitle
James L BraunChair
Carolyn R Ewing-turnerTrustee
David E DubberlyTrustee
David WoolardTrustee
Judge Tomothy C EdmondTrustee
Kristi EidsonTrustee
Lasenta Lewis-elisTrustee
Solomon Jackson JrTrustee
Vaughn K ReynoldsTrustee
Walter J JohnsonTrustee
Willis Langley IiiTrustee
James D ReynoldsTrustee Emer
Thomas E Persons SrTrustee Emer
Nancy L MckinneyCEO
Gwen J HamptonSecretary
Chrisian Stormer CPATreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,656,411
Program Service Revenue
$0
Investment Income
$739,002
Other Revenue
$0
All Other Contributions
$1,623,911
Change in Net Assets
$1,273,581

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,395,413
Revenue Not Reported on Form 990
$1,881,664
Total Revenue per Audited Statements
$4,277,077
Total Revenue per Form 990
$2,395,413
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$475,994
Other Expenses$355,168
Salaries, Compensation, and Employee Benefits$290,670
Total Fundraising Expense$131,220
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$475,994--$475,994
Other Salaries and Wages$71,835-$117,946$189,781
Fees for Services Other$95,360$7,879$12,938$116,177
Current Officers, Directors, Trustees, and Key Employees$100,889--$100,889
Fees for Service Investment Mgmnt Fees-$81,532-$81,532
Fees for Services Lobbying$59,936--$59,936
Advertising$10,000$4,478$336$14,814
All Other Expenses$5,887$4,978-$10,865
Office Expenses$22$5,362-$5,384
Other Expenses$12,619$4,674-$4,674
Fees for Services Accounting-$4,400-$4,400
Fees for Services Management-$3,000-$3,000
Insurance-$2,138-$2,138
Travel-$635-$635
Total Functional Expenses$871,536$119,076$131,220$1,121,832

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,121,832
Total Expenses per Audited Statements$1,121,832
Total Expenses per Form 990$1,121,832
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 35% controlled entity
No
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

“The president of the college and the 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
Nancy L Mckinney
Title
CEO
Phone
8038223269
Signed
2021-10-11

Organization Details

Principal Officer
Nancy L Mckinney
Formed
1970
Legal Domicile
Sc
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
17

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

“Donor relations - stewardship 0 7,879 0 general fundraising support 0 0 75 capital campaign support 0 0 2,724 direct mail services 0 0 9,639 fundraising equipment 0 0 500 division support 94,738 0 0 theater - hospitality service 622 0 0 total 95,360 7,879 12,938”

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

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$15,711,907
Liabilities
$55,535
Net assets
$15,656,372
Revenue
$2,395,413
Expenses
$1,121,832
Net income
$1,273,581
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