Civic Intelligence

Des Moines Area Community College Foundation

990 • Fiscal year 2020 • EIN 23-7229486

Jul 01, 2019 to Jun 30, 2020 • Filed on Jan 13, 2021

Organization ProfileWWW.DMACC.CC.IA.US/FOUNDATION
2006 S Ankeny BlvdAnkeny, IA 50023

(515) 964-6483

Siviq Scores

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

Liabilities / Assets

46th percentile

0.19x

Higher debt load relative to assets than 46% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

74th percentile

0.78x

Higher debt load relative to revenue than 74% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

88th percentile

41%

Higher net margin than 88% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

34th percentile

$132,037

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

63rd percentile

12%

Faster asset growth than 63% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

82nd percentile

27%

Faster revenue growth than 82% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets46th percentile

Assets

Up

$23,940,934

Up $2,616,680 (+12%) from 2019

Net Assets

Up

$19,444,939

Up $2,046,046 (+12%) from 2019

Liabilities

Up

$4,495,995

Up $570,634 (+15%) from 2019

Revenue And Expenses
Liabilities / Revenue74th percentileNet Margin88th percentile

Revenue

Up

$5,786,802

Up $1,246,036 (+27%) from 2019

Expenses

Down

$3,404,603

Down $2,807,338 (-45%) from 2019

Net Income

Up

$2,382,199

Up $4,053,374 (+243%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth63rd percentile

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

$30M$20M$10M$0Assets 2014: $11,079,196Liabilities 2014: $18,830Net Assets 2014: $11,060,3662014Assets 2016: $14,528,699Liabilities 2016: $104,695Net Assets 2016: $14,424,0042016Assets 2017: $16,874,625Liabilities 2017: $76,032Net Assets 2017: $16,798,5932017Assets 2018: $19,089,982Liabilities 2018: $40,000Net Assets 2018: $19,049,9822018Assets 2019: $21,324,254Liabilities 2019: $3,925,361Net Assets 2019: $17,398,8932019Assets 2020: $23,940,934Liabilities 2020: $4,495,995Net Assets 2020: $19,444,9392020Assets 2021: $25,871,910Liabilities 2021: $1,713,179Net Assets 2021: $24,158,7312021Assets 2022: $21,577,534Liabilities 2022: $436,360Net Assets 2022: $21,141,1742022Assets 2023: $23,985,027Liabilities 2023: $1,133,938Net Assets 2023: $22,851,0892023Assets 2024: $27,132,996Liabilities 2024: $1,428,403Net Assets 2024: $25,704,5932024Assets 2025: $29,120,657Liabilities 2025: $1,267,082Net Assets 2025: $27,853,5752025

Highlighted filing

2020

Assets$23,940,934
Liabilities$4,495,995
Net Assets$19,444,939
Open 2020 Filing

Operations Trend

Revenue Growth82nd percentile

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

$10M$5.0M$0-$5.0MRevenue 2014: $1,927,261Expenses 2014: $1,202,010Net Income 2014: $725,2512014Revenue 2016: $5,452,877Expenses 2016: $1,665,973Net Income 2016: $3,786,9042016Revenue 2017: $3,275,461Expenses 2017: $1,933,762Net Income 2017: $1,341,6992017Revenue 2018: $3,946,830Expenses 2018: $1,742,764Net Income 2018: $2,204,0662018Revenue 2019: $4,540,766Expenses 2019: $6,211,941Net Income 2019: -$1,671,1752019Revenue 2020: $5,786,802Expenses 2020: $3,404,603Net Income 2020: $2,382,1992020Revenue 2021: $3,727,961Expenses 2021: $2,777,585Net Income 2021: $950,3762021Revenue 2022: $4,357,178Expenses 2022: $2,295,698Net Income 2022: $2,061,4802022Revenue 2023: $4,758,849Expenses 2023: $4,155,776Net Income 2023: $603,0732023Revenue 2024: $5,455,166Expenses 2024: $4,335,607Net Income 2024: $1,119,5592024Revenue 2025: $9,357,187Expenses 2025: $4,763,278Net Income 2025: $4,593,9092025

Highlighted filing

2020

Revenue$5,786,802
Expenses$3,404,603
Net Income$2,382,199
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Jan 13, 2021
Return Version
2019v5.1
Gross Receipts
$11,104,865
Mission and Program Overview

Mission

Receive donations for dmacc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$14,587,812$16,295,550▲ $1,707,738
Cash and Non-Interest-Bearing Accounts$2,381,627$3,862,706▲ $1,481,079
Investments Other Securities$2,231,228$2,410,622▲ $179,394
Pledges and Grants Receivable$2,059,000$1,258,651▼ $800,349
Prepaid Expenses and Deferred Charges$51,500$102,525▲ $51,025
Total Assets$21,324,254$23,940,934▲ $2,616,680
Other Assets Total$13,087$10,880▼ $2,207
Liabilities
Other Liabilities$3,925,361$4,495,995▲ $570,634
Total Liabilities$3,925,361$4,495,995▲ $570,634
Net Assets / Fund Balance
Net Assets With Donor Restrictions$15,257,305$18,000,768▲ $2,743,463
Net Assets Without Donor Restrictions$2,141,588$1,444,171▼ $697,417
Total Net Assets Fund Balance$17,398,893$19,444,939▲ $2,046,046
Total Liabilities and Net Assets / Fund Balance$21,324,254$23,940,934▲ $2,616,680

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$2,410,622--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$7,318,235$1,497,291▲ $302,695-$8,826,382
2018$7,109,537$67,057▲ $387,890-$7,318,235
2017$6,957,594$33,587▲ $362,469-$7,109,537
2016$6,223,641$373,121▲ $610,646-$6,957,594
2015$6,173,341$281,379▼ $52,778-$6,223,641
Compensation and Service Providers
Top Officer Pay34th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Tara ConnollyExecutive DirectorFT$132,037$132,037

Board Members and Trustees

NameTitle
Curtis Van VeldhuizenPast President
Mike GrandgeorgePresident
Rita PereaVice President
Don LambertiEmeritus
Becky GibsonMember
Chris CostaMember
David AbramMember
David VansickelMember
Dennis AlbaughMember
Doug BurnsMember
James FlemingMember
James SpoonerMember
Jeanie Kerber-mccarvilleMember
Jeff LambertiMember
Jim HeckmanMember
Kim Butler HegedusMember
Kristi ChristensenMember
Mark RasmussenMember
Mike KammererMember
Natalie BachmanMember
Rob TaylorMember
Roger HargensMember
S Ahmed MerchantMember
Scott BennettMember
Tamara KenworthySecretary
Harlee OlafsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,803,570
Program Service Revenue
$0
Investment Income
$983,232
Other Revenue
$0
All Other Contributions
$4,803,570
Change in Net Assets
$2,382,199

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded6$30,216Trading Price -don. Date
Total Noncash Contributions6$30,216-

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,786,802
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-336,153
Total Revenue per Audited Statements
$5,450,649
Total Revenue per Form 990
$5,786,802
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$3,226,642
Other Expenses$177,961
Total Fundraising Expense$108,800
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$3,226,642--$3,226,642
Fees for Services Other--$108,800$108,800
Information Technology-$32,150-$32,150
Conferences and Meetings-$23,321-$23,321
Office Expenses-$8,040-$8,040
Fees for Services Accounting-$5,650-$5,650
Total Functional Expenses$3,226,642$69,161$108,800$3,404,603

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,404,603
Total Expenses per Audited Statements$3,404,603
Total Expenses per Form 990$3,404,603
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
DmaccAnkeny, IA501(c)(3)To Provide Grants, Scholarships, and Other Assistance to Des Moines Area Community College$3,226,642
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
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Dmacc$4,495,995
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
No
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, Part VI, Section B, Line 11B

“The foundation board will review and approve the form 990 before it is filed.”

Form 990, Part VI, Section C, Line 19

“The foundation will make the forms available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Dmacc Foundation
EIN
23-7229486
Phone
5159646483
Address
2006 S ANKENY BLVD, ANKENY, IA 50023

Signing Officer

Name
Harlee Olafson
Title
Treasurer
Phone
5159646483
Signed
2021-01-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Harlee Olafson
Formed
1972
Legal Domicile
Ia
Voting Board Members
26
Independent Board Members
26
Employees
0
Volunteers
0

Preparer

Firm
Denman & Company Llp
Address
1601 22ND STREET SUITE 400, WEST DES MOINES, IA 50266-1453
Preparer
David Ellis
Phone
5152258400
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The foundation has not changed the process from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The foundation is exempt from income taxes under section 501(c)(3) of the internal revenue code. The foundation follows the accounting for uncertainty in income tax as required by the income taxes topic of the fasb accounting standards codification. The foundation has evaluated its material tax positions and determined no income tax effects with respect to the financial statements. The foundation is no longer subject to u.s. Federal or state income tax examinations by tax authorities for the years before 2015. The foundation has not been notified of any impending examinations by authorities, and no examinations are in process.”

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt200
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt210
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt220
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt250
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4PAST PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt5MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16EMERITUS
IRS990/Form990PartVIISectionAGrp/TitleTxt17MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt19MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt20MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt21MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt22MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt23MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt24MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt25MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt26EXECUTIVE DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd01
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IRS990/GamingActivitiesInd00
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IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt05454285
IRS990/GrossReceiptsAmt011104865
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
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IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt032150
IRS990/InformationTechnologyGrp/TotalAmt032150
IRS990/InvestmentIncomeGrp/ExclusionAmt0847010
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0847010
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IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt02410622
IRS990/InvestmentsPubTradedSecGrp/BOYAmt014587812
IRS990/InvestmentsPubTradedSecGrp/EOYAmt016295550
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IRS990/LegalDomicileStateCd0IA
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt05318063
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0RECEIVE DONATIONS FOR DMACC.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt017398893
IRS990/NetAssetsOrFundBalancesEOYAmt019444939
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0136222
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0136222
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-336153
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt02141588
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt01444171
IRS990/NoncashContributionsAmt030216
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt08040
IRS990/OfficeExpensesGrp/TotalAmt08040
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt013087
IRS990/OtherAssetsTotalGrp/EOYAmt010880
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IRS990/OtherLiabilitiesGrp/BOYAmt03925361
IRS990/OtherLiabilitiesGrp/EOYAmt04495995
IRS990/PartialLiquidationInd00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt02059000
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01258651
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt051500
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0102525
IRS990/PrincipalOfficerNm0HARLEE OLAFSON
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0PROVIDE GRANTS AND OTHER ASSISTANCE TO DES MOINES AREA COMMUNITY COLLEGE.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt01683382
IRS990/ProgSrvcAccomActy2Grp/GrantAmt01683382
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IRS990/PYContributionsGrantsAmt03541198
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IRS990/PYInvestmentIncomeAmt0999568
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IRS990/PYOtherRevenueAmt00
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IRS990/PYTotalExpensesAmt06211941
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt04540766
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IRS990/ReportLandBuildingEquipmentInd00
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IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt03226642
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0DES MOINES AREA COMMUNITY COLLEGE
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$23,940,934
Liabilities
$4,495,995
Net assets
$19,444,939
Revenue
$5,786,802
Expenses
$3,404,603
Net income
$2,382,199
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$29.1$1.27$27.9$9.36$4.76$4.59
2024Detailed filing. Detailed filing data is available for this year.$27.1$1.43$25.7$5.46$4.34$1.12
2023Detailed filing. Detailed filing data is available for this year.$24.0$1.13$22.9$4.76$4.16$0.60
2022Detailed filing. Detailed filing data is available for this year.$21.6$0.44$21.1$4.36$2.30$2.06
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.9$1.71$24.2$3.73$2.78$0.95
2020Detailed filing. Detailed filing data is available for this year.$23.9$4.50$19.4$5.79$3.40$2.38
2019Detailed filing. Detailed filing data is available for this year.$21.3$3.93$17.4$4.54$6.21$1.67
2018Detailed filing. Detailed filing data is available for this year.$19.1$0.04$19.0$3.95$1.74$2.20
2017Detailed filing. Detailed filing data is available for this year.$16.9$0.08$16.8$3.28$1.93$1.34
2016Detailed filing. Detailed filing data is available for this year.$14.5$0.10$14.4$5.45$1.67$3.79
2014Detailed filing. Detailed filing data is available for this year.$11.1$0.02$11.1$1.93$1.20$0.73