Civic Intelligence

Morgan Community College Foundation

990 • Fiscal year 2018 • EIN 23-7092582

Jan 01, 2018 to Dec 31, 2018 • Filed on Aug 06, 2019

300 Main StreetFort Morgan, CO 80701

(970) 542-3106

Siviq Scores

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

Liabilities / Assets

31st percentile

0.05x

Higher debt load relative to assets than 31% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

51st percentile

0.18x

Higher debt load relative to revenue than 51% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

93rd percentile

63%

Higher net margin than 93% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

20th percentile

$0

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

77th percentile

13%

Faster asset growth than 77% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

95th percentile

116%

Faster revenue growth than 95% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Assets

Up

$7,040,647

Up $817,818 (+13%) from 2017

Net Assets

Up

$6,720,822

Up $541,052 (+8.8%) from 2017

Liabilities

Up

$319,825

Up $276,766 (+643%) from 2017

Revenue

Up

$1,823,497

Up $981,158 (+116%) from 2017

Expenses

Up

$683,733

Up $120,507 (+21%) from 2017

Net Income

Up

$1,139,764

Up $860,651 (+308%) from 2017

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

2018

Assets$7,040,647
Liabilities$319,825
Net Assets$6,720,822

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

2018

Revenue$1,823,497
Expenses$683,733
Net Income$1,139,764
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Aug 6, 2019
Return Version
2018v3.1
Gross Receipts
$1,855,778
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$5,177,370$5,153,073▼ $24,297
Land, Buildings, and Equipment, Net$612,439$1,391,015▲ $778,576
Investments Other Securities$239,676$240,223▲ $547
Cash and Non-Interest-Bearing Accounts$177,283$238,930▲ $61,647
Savings and Temporary Cash Investments$14,495$14,508▲ $13
Prepaid Expenses and Deferred Charges$1,499$2,823▲ $1,324
Total Assets$6,222,829$7,040,647▲ $817,818
Other Assets Total$67$75▲ $8
Liabilities
Mortgage Notes Payable Secured by Investment Property-$205,000-
Accounts Payable and Accrued Expenses$43,059$75,602▲ $32,543
Deferred Revenue-$39,223-
Total Liabilities$43,059$319,825▲ $276,766
Net Assets / Fund Balance
Permanently Rstr Net Assets$2,953,509$3,981,874▲ $1,028,365
Unrestricted Net Assets$1,528,407$1,439,142▼ $89,265
Temporarily Rstr Net Assets$1,697,854$1,299,806▼ $398,048
Total Net Assets Fund Balance$6,179,770$6,720,822▲ $541,052
Total Liabilities and Net Assets / Fund Balance$6,222,829$7,040,647▲ $817,818

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$590,672$218,374$809,046
Land$800,343-$800,343

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$2,953,509$1,028,365--$3,981,874
2017$2,668,509$285,000--$2,953,509
2016$2,704,509$37,000--$2,668,509
2015$2,662,312$42,197--$2,704,509
2014$2,563,920$98,365▲ $27-$2,662,312
Compensation and Service Providers

Board Members and Trustees

NameTitle
Brenda SheltonPresident
Carrie MobleyVice President
Robert ChapinVice President
Brittany StanleyBoard Member
Dana ShermanBoard Member
Dr Robert ThielBoard Member
Rachel Rydel-BrownleeBoard Member
Robert SachsBoard Member
Cameron ArmagostTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,465,622
Program Service Revenue
$0
Investment Income
$313,733
Other Revenue
$44,142
All Other Contributions
$1,465,622
Change in Net Assets
$1,139,764

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,823,497
Revenue Not Reported on Form 990
$-598,712
Total Revenue per Audited Statements
$1,224,785
Total Revenue per Form 990
$1,823,497
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$640,419
Salaries, Compensation, and Employee Benefits$43,314
Total Fundraising Expense$20,890
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$43,314-$43,314
Depreciation Depletion-$21,767-$21,767
Office Expenses-$811$20,890$21,701
Fees for Services Accounting-$13,350-$13,350
Advertising-$2,761-$2,761
Interest-$1,594-$1,594
Insurance-$1,552-$1,552
Other Expenses$336,053$1,310-$1,310
Total Functional Expenses$576,384$86,459$20,890$683,733

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$683,733
Total Expenses per Audited Statements$683,733
Total Expenses per Form 990$683,733
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$38,199
Fundraising Direct Expenses$28,392
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Gala$38,199$38,199$28,392$9,807
Total Events$38,199$38,199$28,392$9,807
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
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
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 VI, Section B, Line 11

The Foundations Board of Directors review the Form 990prior to approval and filing.

Form 990, Part VI, Section B, Line 12

Board members fill out a conflict of interest form and document if they believe any conflicts exist. If there is a conflict noted. The remaining Board members determine if that member can remain in a board position.

Form 990, Part VI, Section C, Line 19

Governing documents are available upon request from the Foundation office.

Filing and Contact Details

Filer

Filer Name
Morgan Community College Foundation
EIN
23-7092582
Phone
9705423106
Address
300 MAIN STREET, FORT MORGAN, CO 80701

Signing Officer

Name
Cameron Armagost
Title
Treasurer
Signed
2019-08-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cameron Armagost
Formed
1970
Legal Domicile
Co
Voting Board Members
9
Independent Board Members
9
Employees
0

Preparer

Firm
Liittjohann Kauffman and Pederson CPAs
Address
420 East Platte Avenue, Fort Morgan, CO 80701
Preparer
David A Kauffman
Phone
9708674922
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IRS990/PYRevenuesLessExpensesAmt0279113
IRS990/PYSalariesCompEmpBnftPaidAmt040801
IRS990/PYTotalExpensesAmt0563226
IRS990/PYTotalRevenueAmt0842339
IRS990/QuidProQuoContributionsInd0true
IRS990/QuidProQuoContriDisclInd0true
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt01139764
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt034335
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt014495
IRS990/SavingsAndTempCashInvstGrp/EOYAmt014508
IRS990ScheduleA/CollegeOrganizationInd0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01465622
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0548928
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0264978
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0188943
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0374240
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02842711
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0313733
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0246755
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0173418
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt083616
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0261245
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01078767
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt044142
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt046656
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt040904
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt072378
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt058436
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0262516
IRS990ScheduleA/PublicSupportCY170Pct00.67940
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/PublicSupportPY170Pct00.53460
IRS990ScheduleA/PublicSupportTotal170Amt02842711
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01465622
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0548928
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0264978
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0188943
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0374240
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02842711
IRS990ScheduleA/TotalSupportAmt04183994
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0590672
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0218374
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0809046
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt02953509
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt01028365
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt03981874
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt02668509
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0285000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt02953509
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt02704509
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt037000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt02668509
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt073000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt02662312
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt042197
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt02704509
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt02563920
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt098365
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt02662312
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt027
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/ExpensesSubtotalAmt0683733
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LandGrp/BookValueAmt0800343
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0800343
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-598712
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct01.00000
IRS990ScheduleD/RevenueNotReportedAmt0-598712
IRS990ScheduleD/RevenueSubtotalAmt01823497
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01391015
IRS990ScheduleD/TotalExpensesPerForm990Amt0683733
IRS990ScheduleD/TotalRevenuePerForm990Amt01823497
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01224785
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0683733
IRS990ScheduleG/AgrmtProfFundraisingActyInd0false
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt028392
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0Annual Gala
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt038199
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt038199
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt038199
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt038199
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt09807
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt028392
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt028392
IRS990ScheduleG/InPersonSolicitationsInd0X
IRS990ScheduleG/PhoneSolicitationsInd0X
IRS990ScheduleG/SolicitationOfNonGovtGrantsInd0X
IRS990ScheduleG/SpecialFundraisingEventsInd0X
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Foundations Board of Directors review the Form 990prior to approval and filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Board members fill out a conflict of interest form and document if they believe any conflicts exist. If there is a conflict noted. The remaining Board members determine if that member can remain in a board position.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Governing documents are available upon request from the Foundation office.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt01697854
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt01299806
IRS990/TempOrPermanentEndowmentsInd0true
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt06222829
IRS990/TotalAssetsEOYAmt07040647
IRS990/TotalAssetsGrp/BOYAmt06222829
IRS990/TotalAssetsGrp/EOYAmt07040647
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01465622
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt020890
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt086459
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0576384
IRS990/TotalFunctionalExpensesGrp/TotalAmt0683733
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt043059
IRS990/TotalLiabilitiesEOYAmt0319825
IRS990/TotalLiabilitiesGrp/BOYAmt043059
IRS990/TotalLiabilitiesGrp/EOYAmt0319825

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