Civic Intelligence

Morgan Community College Foundation

990 • Fiscal year 2013 • EIN 23-7092582

Jan 01, 2013 to Dec 31, 2013 • Filed on Oct 16, 2014

300 Main Street80701

(970) 542-3106

Siviq Scores

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

Liabilities / Assets

14th percentile

0.01x

Higher debt load relative to assets than 14% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Liabilities / Revenue

22nd percentile

0.05x

Higher debt load relative to revenue than 22% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Net Margin

87th percentile

40%

Higher net margin than 87% of similar nonprofits.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Top Officer Pay

25th percentile

$32,892

Higher top officer pay than 25% of similar nonprofits.

Top officer pay equals 4.3% of source-year revenue.

2013 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2013

Asset Growth

Score unavailable

No value available

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

Source year 2013

Revenue Growth

Score unavailable

No value available

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

Source year 2013

Assets

$5,141,826

No earlier filing loaded for comparison.

Net Assets

$5,103,130

No earlier filing loaded for comparison.

Liabilities

$38,696

No earlier filing loaded for comparison.

Revenue

$767,766

No earlier filing loaded for comparison.

Expenses

$460,881

No earlier filing loaded for comparison.

Net Income

$306,885

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2013: $5,141,826Liabilities 2013: $38,696Net Assets 2013: $5,103,1302013Assets 2014: $5,418,175Liabilities 2014: $0Net Assets 2014: $5,418,1752014Assets 2015: $5,172,403Liabilities 2015: $35,061Net Assets 2015: $5,137,3422015Assets 2016: $5,366,782Liabilities 2016: $30,708Net Assets 2016: $5,336,0742016Assets 2017: $6,222,829Liabilities 2017: $43,059Net Assets 2017: $6,179,7702017Assets 2018: $7,040,647Liabilities 2018: $319,825Net Assets 2018: $6,720,8222018Assets 2019: $8,936,327Liabilities 2019: $271,293Net Assets 2019: $8,665,0342019Assets 2020: $9,672,402Liabilities 2020: $280,260Net Assets 2020: $9,392,1422020Assets 2021: $10,642,120Liabilities 2021: $154,848Net Assets 2021: $10,487,2722021Assets 2022: $9,505,474Liabilities 2022: $102,184Net Assets 2022: $9,403,2902022Assets 2023: $13,346,112Liabilities 2023: $79,900Net Assets 2023: $13,266,2122023Assets 2024: $13,376,138Liabilities 2024: $119,855Net Assets 2024: $13,256,2832024

Highlighted filing

2013

Assets$5,141,826
Liabilities$38,696
Net Assets$5,103,130

Operations Trend

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

$4.0M$2.0M$0-$2.0MRevenue 2013: $767,766Expenses 2013: $460,881Net Income 2013: $306,8852013Revenue 2014: $693,921Expenses 2014: $401,825Net Income 2014: $292,0962014Revenue 2015: $344,937Expenses 2015: $571,961Net Income 2015: -$227,0242015Revenue 2016: $479,300Expenses 2016: $446,380Net Income 2016: $32,9202016Revenue 2017: $842,339Expenses 2017: $563,226Net Income 2017: $279,1132017Revenue 2018: $1,823,497Expenses 2018: $683,733Net Income 2018: $1,139,7642018Revenue 2019: $1,884,543Expenses 2019: $895,833Net Income 2019: $988,7102019Revenue 2020: $1,098,502Expenses 2020: $1,189,550Net Income 2020: -$91,0482020Revenue 2021: $1,725,250Expenses 2021: $1,234,538Net Income 2021: $490,7122021Revenue 2022: $1,654,850Expenses 2022: $1,016,412Net Income 2022: $638,4382022Revenue 2023: $3,510,737Expenses 2023: $636,432Net Income 2023: $2,874,3052023Revenue 2024: $2,895,015Expenses 2024: $3,409,127Net Income 2024: -$514,1122024

Highlighted filing

2013

Revenue$767,766
Expenses$460,881
Net Income$306,885
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Oct 16, 2014
Return Version
2013v3.1
Gross Receipts
$793,003
Mission and Program Overview

Mission

The Foundation is dedicated to securing financial resources for hte growth and development of Morgan Community Collge and promoting a superior environment for learning.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,048,623$4,293,262▲ $1,244,639
Land, Buildings, and Equipment, Net$708,765$685,605▼ $23,160
Savings and Temporary Cash Investments$77,837$94,050▲ $16,213
Cash and Non-Interest-Bearing Accounts$111,881$66,357▼ $45,524
Prepaid Expenses and Deferred Charges$1,217$1,243▲ $26
Accounts Receivable$5,000$1,200▼ $3,800
Total Assets$4,606,022$5,141,826▲ $535,804
Other Assets Total$652,699$109▼ $652,590
Liabilities
Accounts Payable and Accrued Expenses$8,338$38,696▲ $30,358
Total Liabilities$8,338$38,696▲ $30,358
Net Assets / Fund Balance
Permanently Rstr Net Assets$2,505,613$2,563,920▲ $58,307
Unrestricted Net Assets$1,446,178$1,511,518▲ $65,340
Temporarily Rstr Net Assets$645,893$1,027,692▲ $381,799
Total Net Assets Fund Balance$4,597,684$5,103,130▲ $505,446
Total Liabilities and Net Assets / Fund Balance$4,606,022$5,141,826▲ $535,804

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$685,605$104,221$789,826

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$2,505,613$59,500▲ $27-$2,563,920
2012$2,449,704$55,875▲ $34-$2,505,613
2011$563,286$1,883,289▲ $3,129-$2,449,704
2010$561,687$1,500▲ $99-$563,286
2009$510,243$51,250▲ $194-$561,687
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Kelly RasmussenFoundation CoordinatorFT$32,892$32,892

Board Members and Trustees

NameTitle
Jarrold SchaeferPresident
Marci WickhamVice President
Alissa HarrisBoard Member
Brenda SheltonBoard Member
Dr Kevin LindellBoard Member
Esther LingoBoard Member
James GeorgeBoard Member
Jerry JonesBoard Member
Lee Ann SamuelsBoard Member
Ron HaysBoard Member
Mark FrasierTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$295,216
Program Service Revenue
$0
Investment Income
$414,597
Other Revenue
$57,953
All Other Contributions
$260,171
Change in Net Assets
$306,885

Audited Revenue Reconciliation

Revenue per Audited Statements
$767,766
Revenue Not Reported on Form 990
$198,561
Total Revenue per Audited Statements
$966,327
Total Revenue per Form 990
$767,766
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$460,881
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$191,620$43,692-$43,692
Depreciation Depletion-$23,160-$23,160
Payments to Affiliates$8,000--$8,000
Fees for Services Accounting-$7,075-$7,075
Insurance-$3,013-$3,013
Office Expenses-$1,992-$1,992
All Other Expenses-$1,221-$1,221
Occupancy-$1-$1
Total Functional Expenses$380,727$80,154$0$460,881

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$460,881
Total Expenses per Audited Statements$460,881
Total Expenses per Form 990$460,881
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$45,017
Fundraising Direct Expenses$25,237
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$54,431$36,736$7,500$29,236
Event 2$25,631$8,281$9,251$-970
Total Events$80,062$45,017$16,751$28,266
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part IV, Section C, Line 19

Governing documents are available upon request to the Foundation office.

Form 990, Part VI, Section B, Line 12

Board members fill out a form stating that they have read the policy and that they dont have a conflict of interest or document the possible conflicts.

Filing and Contact Details

Filer

EIN
23-7092582
Phone
9705423106

Signing Officer

Name
Jim George
Title
Treasurer
Signed
2014-10-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jim George
Formed
1970
Legal Domicile
Co
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
16

Preparer

Preparer
David Kauffman
Phone
9708674922
Supplemental Narrative

Additional Explanations

Form 990, Part IV, Section B, Line 11

The Foundations accoutants present and explain the Form 990 prior to the Board members approving it.

Financial Statement Notes

X 2

The Foundation does not provide for income taxes as it is a tax-exempt non-profit organization under the Internal Revenue Code Section 501c3. The Foundation has adopted the provisions of FASB ASC 740-10-25, which requires that a tax position be recognized or derecognized based on a more likely than not threshold. This applies to positions taken or expected to be taken in a tax return. The Foundation does not believe its financial statements include any uncertain tax positions.

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IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Foundation does not provide for income taxes as it is a tax-exempt non-profit organization under the Internal Revenue Code Section 501c3. The Foundation has adopted the provisions of FASB ASC 740-10-25, which requires that a tax position be recognized or derecognized based on a more likely than not threshold. This applies to positions taken or expected to be taken in a tax return. The Foundation does not believe its financial statements include any uncertain tax positions.
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IRS990ScheduleG/InPersonSolicitationsInd0X
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IRS990ScheduleG/SolicitationOfNonGovtGrantsInd0X
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