Civic Intelligence

Moorhead Technical College Foundation Inc

990 • Fiscal year 2023 • EIN 36-3366589

Jul 01, 2022 to Jun 30, 2023 • Filed on Nov 02, 2023

Organization ProfileMINNESOTA.EDU/FOUNDATION
1900 28th Ave SMoorhead, MN 56560

(218) 631-7819

Siviq Scores

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

Liabilities / Assets

20th percentile

0.00x

Higher debt load relative to assets than 20% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

20th percentile

0.00x

Higher debt load relative to revenue than 20% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

48th percentile

3.0%

Higher net margin than 48% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

47th percentile

3.3%

Faster asset growth than 47% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

25th percentile

-10%

Faster revenue growth than 25% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets20th percentile

Assets

Up

$1,048,500

Up $33,437 (+3.3%) from 2022

Net Assets

Up

$1,047,850

Up $32,787 (+3.2%) from 2022

Liabilities

Up

$650

Up $650 from 2022

Revenue And Expenses
Liabilities / Revenue20th percentileNet Margin48th percentile

Revenue

Down

$467,835

Down $54,233 (-10%) from 2022

Expenses

Down

$453,819

Down $218,461 (-32%) from 2022

Net Income

Up

$14,016

Up $164,228 (+109%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth47th percentile

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

$1.5M$1.0M$500K$0Assets 2014: $256,525Liabilities 2014: $0Net Assets 2014: $256,5252014Assets 2015: $382,973Liabilities 2015: $0Net Assets 2015: $382,9732015Assets 2016: $430,857Liabilities 2016: $0Net Assets 2016: $430,8572016Assets 2019: $985,742Liabilities 2019: $94Net Assets 2019: $985,6482019Assets 2020: $1,016,549Liabilities 2020: $0Net Assets 2020: $1,016,5492020Assets 2021: $1,159,337Liabilities 2021: $0Net Assets 2021: $1,159,3372021Assets 2022: $1,015,063Liabilities 2022: $0Net Assets 2022: $1,015,0632022Assets 2023: $1,048,500Liabilities 2023: $650Net Assets 2023: $1,047,8502023Assets 2024: $1,163,118Liabilities 2024: $3,291Net Assets 2024: $1,159,8272024Assets 2025: $1,205,938Liabilities 2025: $0Net Assets 2025: $1,205,9382025

Highlighted filing

2023

Assets$1,048,500
Liabilities$650
Net Assets$1,047,850
Open 2023 Filing

Operations Trend

Revenue Growth25th percentile

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

$1.0M$500K$0-$500KRevenue 2014: $195,695Expenses 2014: $234,082Net Income 2014: -$38,3872014Revenue 2015: $449,271Expenses 2015: $328,214Net Income 2015: $121,0572015Revenue 2016: $577,308Expenses 2016: $529,424Net Income 2016: $47,8842016Revenue 2019: $520,021Expenses 2019: $779,523Net Income 2019: -$259,5022019Revenue 2020: $445,522Expenses 2020: $587,805Net Income 2020: -$142,2832020Revenue 2021: $333,219Expenses 2021: $427,953Net Income 2021: -$94,7342021Revenue 2022: $522,068Expenses 2022: $672,280Net Income 2022: -$150,2122022Revenue 2023: $467,835Expenses 2023: $453,819Net Income 2023: $14,0162023Revenue 2024: $488,913Expenses 2024: $358,276Net Income 2024: $130,6372024Revenue 2025: $611,120Expenses 2025: $605,204Net Income 2025: $5,9162025

Highlighted filing

2023

Revenue$467,835
Expenses$453,819
Net Income$14,016
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Nov 2, 2023
Return Version
2022v5.0
Gross Receipts
$467,835
Mission and Program Overview

Mission

The m state foundation exists to support the mission of m state by providing financial support to help create a success story for every m state student. Our vision is to create a culture that supports learning by investing in the key priorities that present the greatest impact and growth of opportunities for the students we serve.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$766,067$791,403▲ $25,336
Cash and Non-Interest-Bearing Accounts$192,305$208,939▲ $16,634
Pledges and Grants Receivable$56,691$48,158▼ $8,533
Total Assets$1,015,063$1,048,500▲ $33,437
Liabilities
Accounts Payable and Accrued Expenses-$650-
Total Liabilities$0$650▲ $650
Net Assets / Fund Balance
Net Assets With Donor Restrictions$804,500$842,805▲ $38,305
Net Assets Without Donor Restrictions$210,563$205,045▼ $5,518
Total Net Assets Fund Balance$1,015,063$1,047,850▲ $32,787
Total Liabilities and Net Assets / Fund Balance$1,015,063$1,048,500▲ $33,437

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$766,067$1,000▲ $52,174-$791,403
2021$908,922$17,787▼ $124,635-$766,067
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Josh AstrupPresident
Anthony StensgardDirector
Ashley McnallyDirector
Bob BesemanDirector
Jill BrandtDirector
Mike GeddeDirector
Wally SenykDirector
Melvin Whitney JrFoundation D
Shelley FinneyTreasurer/se
Curt KasperVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$422,868
Program Service Revenue
$0
Investment Income
$35,690
Other Revenue
$9,277
All Other Contributions
$422,868
Change in Net Assets
$14,016

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table1$339,249
Total Noncash Contributions1$339,249

Audited Revenue Reconciliation

Revenue per Audited Statements
$467,835
Revenue Not Reported on Form 990
$26,500
Total Revenue per Audited Statements
$494,335
Total Revenue per Form 990
$467,835
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$228,366
Salaries, Compensation, and Employee Benefits$177,481
Other Expenses$47,972
Total Fundraising Expense$28,418
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$228,366--$228,366
Other Salaries and Wages$105,324$13,166$13,166$131,656
Other Employee Benefits$29,630$3,704$3,704$37,038
Fees for Services Legal-$11,479-$11,479
Occupancy$7,200$900$900$9,000
Payroll Taxes$7,029$879$879$8,787
Fees for Services Management-$8,450-$8,450
Information Technology$4,484$561$561$5,606
Advertising--$5,178$5,178
Other Expenses-$848$4,030$4,878
Office Expenses$767$1,230-$1,997
Insurance-$1,384-$1,384
Total Functional Expenses$382,800$42,601$28,418$453,819

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$453,819
Total Expenses per Audited Statements$453,819
Total Expenses per Form 990$453,819
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$9,277
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
Backup withholding compliance
No
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
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

“The entire boardwill be sent a copy of the 990 prior to filing. The board executive committee will review and approve the 990 prior to filing.”

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

“All board members completed a conflict of interest form to disclose interests that could give rise to conflicts. A compilation of all board members' potential conflicts was made and distributed to all board members to enable monitoring of conflicts of interest throughout the year. Board members followed appropriate conflictof interest procedures as outlined in board policy 1.1 of the foundation.”

Form 990, Page 6, Part VI, Line 18

“No documents made available to the public.”

Form 990, Page 6, Part VI, Line 19

“No documents made available to the public.”

Filing and Contact Details

Filer

Filer Name
M State Foundation and Alumni
EIN
36-3366589
Phone
2186317819
Address
1900 28TH AVE S, MOORHEAD, MN 56560

Signing Officer

Name
Melvin Whitney Jr
Title
Foundation Director
Phone
2186317819
Signed
2023-11-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Melvin Whitney Jr
Formed
1991
Legal Domicile
Mn
Voting Board Members
12
Independent Board Members
12
Employees
0

Preparer

Firm
Carlsonsv Llp
Address
301 KELLER AVE S, AMERY, WI 54001-1283
Preparer
Dirk a Prindle CPA
Phone
7159544995
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The m state foundation exists to support the mission of m state by providing financial support to help create a success story for every m state student. Our vision is to create a culture that supports learning by investing in the key priorities that present the greatest impact and growth of opportunities for the students we serve.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The foundation is exempt from payment of federal income taxes under the provisions of section 501(c)(3) of the internal revenue code. The foundation is requried to record a liability for uncertain tax positions when it is probable that a loss has been incurred and the amount can reasonably be estimated. As of june 30, 2023 and 2022, no such liability existed. Management will continually evaluate expiring statutes of limitations, audits, proposed settlements, changes in tax law, and new authoritative rulings.”

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IRS990ScheduleD/RevenueSubtotalAmt0467835
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS EXEMPT FROM PAYMENT OF FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION IS REQURIED TO RECORD A LIABILITY FOR UNCERTAIN TAX POSITIONS WHEN IT IS PROBABLE THAT A LOSS HAS BEEN INCURRED AND THE AMOUNT CAN REASONABLY BE ESTIMATED. AS OF JUNE 30, 2023 AND 2022, NO SUCH LIABILITY EXISTED. MANAGEMENT WILL CONTINUALLY EVALUATE EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW, AND NEW AUTHORITATIVE RULINGS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalRevenuePerForm990Amt0467835
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0GRANTS AND SCHOLARSHIPS
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE M STATE FOUNDATION EXISTS TO SUPPORT THE MISSION OF M STATE BY PROVIDING FINANCIAL SUPPORT TO HELP CREATE A SUCCESS STORY FOR EVERY M STATE STUDENT. OUR VISION IS TO CREATE A CULTURE THAT SUPPORTS LEARNING BY INVESTING IN THE KEY PRIORITIES THAT PRESENT THE GREATEST IMPACT AND GROWTH OF OPPORTUNITIES FOR THE STUDENTS WE SERVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ENTIRE BOARDWILL BE SENT A COPY OF THE 990 PRIOR TO FILING. THE BOARD EXECUTIVE COMMITTEE WILL REVIEW AND APPROVE THE 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL BOARD MEMBERS COMPLETED A CONFLICT OF INTEREST FORM TO DISCLOSE INTERESTS THAT COULD GIVE RISE TO CONFLICTS. A COMPILATION OF ALL BOARD MEMBERS' POTENTIAL CONFLICTS WAS MADE AND DISTRIBUTED TO ALL BOARD MEMBERS TO ENABLE MONITORING OF CONFLICTS OF INTEREST THROUGHOUT THE YEAR. BOARD MEMBERS FOLLOWED APPROPRIATE CONFLICTOF INTEREST PROCEDURES AS OUTLINED IN BOARD POLICY 1.1 OF THE FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS MADE AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO DOCUMENTS MADE AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,048,500
Liabilities
$650
Net assets
$1,047,850
Revenue
$467,835
Expenses
$453,819
Net income
$14,016
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.21$0.00$1.21$0.61$0.61$0.01
2024Detailed filing. Detailed filing data is available for this year.$1.16$0.00$1.16$0.49$0.36$0.13
2023Detailed filing. Detailed filing data is available for this year.$1.05$0.00$1.05$0.47$0.45$0.01
2022Detailed filing. Detailed filing data is available for this year.$1.02$0.00$1.02$0.52$0.67$0.15
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.16$0.00$1.16$0.33$0.43$0.09
2020Detailed filing. Detailed filing data is available for this year.$1.02$0.00$1.02$0.45$0.59$0.14
2019Detailed filing. Detailed filing data is available for this year.$0.99$0.00$0.99$0.52$0.78$0.26
2016Detailed filing. Detailed filing data is available for this year.$0.43$0.00$0.43$0.58$0.53$0.05
2015Detailed filing. Detailed filing data is available for this year.$0.38$0.00$0.38$0.45$0.33$0.12
2014Detailed filing. Detailed filing data is available for this year.$0.26$0.00$0.26$0.20$0.23$0.04