Civic Intelligence

Midland College Foundation Inc.

990 • Fiscal year 2018 • EIN 23-7315067

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 15, 2019

Organization ProfileWWW.MIDLANDCOLLEGEFOUNDATION.ORG
3600 N GarfieldMidland, TX 79705

(432) 684-7851

Siviq Scores

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

Liabilities / Assets

8th percentile

0.01x

Higher debt load relative to assets than 8% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Liabilities / Revenue

13th percentile

0.07x

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

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Net Margin

92nd percentile

55%

Higher net margin than 92% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Top Officer Pay

4th percentile

$0

Higher top officer pay than 4% of similar nonprofits.

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

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Asset Growth

Score unavailable

No value available

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

Source year 2018

Revenue Growth

Score unavailable

No value available

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

Source year 2018

Balance Sheet
Liabilities / Assets8th percentile

Assets

Up

$53,446,524

Up $20,402,390 (+62%) from 2011

Net Assets

Up

$53,061,727

Up $20,537,723 (+63%) from 2011

Liabilities

Down

$384,797

Down $135,333 (-26%) from 2011

Revenue And Expenses
Liabilities / Revenue13th percentileNet Margin92nd percentile

Revenue

$5,594,497

No earlier filing loaded for comparison.

Expenses

Up

$2,496,968

Up $748,891 (+43%) from 2011

Net Income

$3,097,529

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$80M$60M$40M$20M$0Assets 2011: $33,044,134Liabilities 2011: $520,130Net Assets 2011: $32,524,0042011Assets 2018: $53,446,524Liabilities 2018: $384,797Net Assets 2018: $53,061,7272018Assets 2019: $62,364,863Liabilities 2019: $671,034Net Assets 2019: $61,693,8292019Assets 2020: $63,659,163Liabilities 2020: $629,312Net Assets 2020: $63,029,8512020Assets 2021: $75,368,297Liabilities 2021: $704,219Net Assets 2021: $74,664,0782021Assets 2022: $78,503,013Liabilities 2022: $1,098,821Net Assets 2022: $77,404,1922022Assets 2023: $70,879,363Liabilities 2023: $1,201,506Net Assets 2023: $69,677,8572023Assets 2024: $74,104,017Liabilities 2024: $2,532,446Net Assets 2024: $71,571,5712024

Highlighted filing

2018

Assets$53,446,524
Liabilities$384,797
Net Assets$53,061,727
Open 2018 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$40M$20M$0-$20MExpenses 2011: $1,748,0772011Revenue 2018: $5,594,497Expenses 2018: $2,496,968Net Income 2018: $3,097,5292018Revenue 2019: $9,128,206Expenses 2019: $6,659,349Net Income 2019: $2,468,8572019Revenue 2020: $3,417,983Expenses 2020: $7,154,072Net Income 2020: -$3,736,0892020Revenue 2021: $5,413,638Expenses 2021: $3,723,600Net Income 2021: $1,690,0382021Revenue 2022: $33,003,754Expenses 2022: $16,689,584Net Income 2022: $16,314,1702022Revenue 2023: $5,548,732Expenses 2023: $19,056,275Net Income 2023: -$13,507,5432023Revenue 2024: $10,803,197Expenses 2024: $12,881,727Net Income 2024: -$2,078,5302024

Highlighted filing

2018

Revenue$5,594,497
Expenses$2,496,968
Net Income$3,097,529
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 15, 2019
Return Version
2018v3.1
Gross Receipts
$5,594,497
Mission and Program Overview

Mission

Midland college foundation, inc. Is a non-profit organization established to provide support for the educational goals of midland college and its students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$49,749,083$43,769,881▼ $5,979,202
Savings and Temporary Cash Investments$5,823,747$8,847,438▲ $3,023,691
Cash and Non-Interest-Bearing Accounts$577,041$671,266▲ $94,225
Pledges and Grants Receivable$187,000$62,017▼ $124,983
Prepaid Expenses and Deferred Charges$27,500$53,250▲ $25,750
Accounts Receivable$450$450→ $0
Total Assets$56,395,734$53,446,524▼ $2,949,210
Other Assets Total$30,913$42,222▲ $11,309
Liabilities
Grants Payable$381,646$326,929▼ $54,717
Accounts Payable and Accrued Expenses$23,135$57,868▲ $34,733
Total Liabilities$404,781$384,797▼ $19,984
Net Assets / Fund Balance
Temporarily Rstr Net Assets$21,511,722$21,596,512▲ $84,790
Permanently Rstr Net Assets$19,658,063$19,658,063→ $0
Unrestricted Net Assets$14,821,168$11,807,152▼ $3,014,016
Total Net Assets Fund Balance$55,990,953$53,061,727▼ $2,929,226
Total Liabilities and Net Assets / Fund Balance$56,395,734$53,446,524▼ $2,949,210

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$32,445,431$632,995▼ $2,648,222-$29,075,399
2017$28,877,911$444,603▲ $4,395,337-$32,445,431
2016$27,258,936$466,869▲ $2,367,477-$28,980,089
2015$29,762,545$488,725▼ $1,596,737-$27,258,836
2014$29,792,105$795,433▲ $830,259-$29,762,545
Compensation and Service Providers
Top Officer Pay4th percentile

Board Members and Trustees

NameTitle
Joe De CompiegnePresident
Arnulfo Carrasco MdDirector
Becky FergusonDirector
Carole WarrenDirector
Chip SmithDirector
Dr Steve ThomasDirector
Duncan KennedyDirector
Gary DouglasDirector
Jim HenryDirector
Julia SwallowDirector
Julie EdwardsDirector
Mike BlackDirector
Modesta WilliamsDirector
Paul MorrowDirector
Ralph WayDirector
Richard McmillianDirector
Spencer BealDirector
Taylor MayneDirector
Terry WilkinsonDirector
Tim LeachDirector
Tricia MichieDirector
Word WilsonDirector
Linda CowdenSecretary
Richard CoatsTreasurer
Cadell LiedtkeVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$2,960,860
Program Service Revenue
$0
Investment Income
$2,875,632
Other Revenue
$-241,995
All Other Contributions
$2,960,860
Change in Net Assets
$3,097,529

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,594,497
Revenue Not Reported on Form 990
$-6,026,755
Total Revenue per Audited Statements
$-432,258
Total Revenue per Form 990
$5,594,497
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,941,681
Other Expenses$555,287
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,941,681--$1,941,681
Other Expenses-$5,398-$5,398
Total Functional Expenses$1,941,681$555,287$0$2,496,968

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,496,968
Total Expenses per Audited Statements$2,496,968
Total Expenses per Form 990$2,496,968
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Midland College District--Support Midland Coll$1,941,681
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
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, Page 6, Part VI, Line 11B

“A copy of the form 990 was provided to each voting member prior to its filing with the irs.”

Form 990, Page 6, Part VI, Line 12C

“Require written statement from officers, directors and trustees.”

Form 990, Page 6, Part VI, Line 15A

“Resolve not to compensate officers, directors or executives.”

Form 990, Page 6, Part VI, Line 15B

“Resolve not to compensate other officers or key employees.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Midland College Foundation
EIN
23-7315067
Phone
4326847851
Address
3600 N GARFIELD, MIDLAND, TX 79705

Signing Officer

Name
Rick Bender
Title
VP - Admin Services
Phone
4326847851
Signed
2019-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rick Bender
Formed
1973
Legal Domicile
TX
Voting Board Members
25
Independent Board Members
25
Employees
0
Volunteers
15

Preparer

Firm
JOHNSON MILLER & CO CPA'S PC
Address
550 W TEXAS AVE STE 1000, MIDLAND, TX 79701-4279
Preparer
Audra L Mead
Phone
4326831835
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Payments made to midland college for the operating budget and fund midland college scholarships.”

Form 990, Part XI

“Line 5, net unrealized gain (loss) in marketable securities”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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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
$53,446,524
Liabilities
$384,797
Net assets
$53,061,727
Revenue
$5,594,497
Expenses
$2,496,968
Net income
$3,097,529
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$74.1$2.53$71.6$10.8$12.9$2.08
2023Detailed filing. Detailed filing data is available for this year.$70.9$1.20$69.7$5.55$19.1$13.5
2022Detailed filing. Detailed filing data is available for this year.$78.5$1.10$77.4$33.0$16.7$16.3
2021Detailed filing. Detailed filing data is available for this year.$75.4$0.70$74.7$5.41$3.72$1.69
2020Detailed filing. Detailed filing data is available for this year.$63.7$0.63$63.0$3.42$7.15$3.74
2019Detailed filing. Detailed filing data is available for this year.$62.4$0.67$61.7$9.13$6.66$2.47
2018Detailed filing. Detailed filing data is available for this year.$53.4$0.38$53.1$5.59$2.50$3.10
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$33.0$0.52$32.5$1.75
Peer Organizations

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