Liabilities / Assets
50th percentile
Higher debt load relative to assets than 50% of similar nonprofits.
EIN 41-1288502 • 501(c)3 • Minneapolis, MN
Profile
The minneapolis community & technical college foundation helps solve issues of affordability and access to higher education through scholarships and initiatives that support students, enhance the readiness of our workforce and support the (continued on schedule o) (continued from page 2) strategic priorities of the college.
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
Liabilities / Assets
50th percentile
Higher debt load relative to assets than 50% of similar nonprofits.
Liabilities / Revenue
79th percentile
Higher debt load relative to revenue than 79% of similar nonprofits.
Net Margin
86th percentile
Higher net margin than 86% of similar nonprofits.
Top Officer Pay
31st percentile
Higher top officer pay than 31% of similar nonprofits.
Top officer pay equals 5.7% of source-year revenue.
Asset Growth
90th percentile
Faster asset growth than 90% of similar nonprofits.
Revenue Growth
93rd percentile
Faster revenue growth than 93% of similar nonprofits.
Assets
Up$10,448,112
Up $2,887,681 (+38%) from 2024
Liabilities
Up$1,841,878
Up $1,839,723 (+85370%) from 2024
Net Assets
Up$8,606,234
Up $1,047,958 (+14%) from 2024
Revenue
Up$2,028,743
Up $1,006,827 (+99%) from 2024
Expenses
Up$1,179,271
Up $62,421 (+5.6%) from 2024
Net Income
Up$849,472
Up $944,406 (+995%) from 2024
Most recent year
2025 • Form 990Detailed filing. Detailed filing data is available for this year.
The mission of the minneapolis community & technical foundation is to provide financial assistance and educational support to those students of need who attend minneapolis community and technical college. The foundation board of directors may (continued on schedule o) (continued from page 2) approve funding of programs that are specifically related to the mission of the college.
The minneapolis community & technical college foundation helps solve issues of affordability and access to higher education through scholarships and initiatives that support students, enhance the readiness of our workforce and support the strategic priorities of the college.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Investments in Publicly Traded Securities | $7,318,690 | $9,800,078 | ▲ $2,481,388 |
| Cash and Non-Interest-Bearing Accounts | $9,490 | $490,684 | ▲ $481,194 |
| Pledges and Grants Receivable | $148,432 | $77,530 | ▼ $70,902 |
| Accounts Receivable | $4,018 | $0 | ▼ $4,018 |
| Savings and Temporary Cash Investments | $301 | $320 | ▲ $19 |
| Total Assets | $7,560,431 | $10,448,112 | ▲ $2,887,681 |
| Other Assets Total | $79,500 | $79,500 | → $0 |
| Liabilities | |||
| Other Liabilities | $0 | $1,836,210 | ▲ $1,836,210 |
| Accounts Payable and Accrued Expenses | $2,155 | $5,668 | ▲ $3,513 |
| Total Liabilities | $2,155 | $1,841,878 | ▲ $1,839,723 |
| Net Assets / Fund Balance | |||
| Net Assets With Donor Restrictions | $5,895,454 | $6,807,997 | ▲ $912,543 |
| Net Assets Without Donor Restrictions | $1,662,822 | $1,798,237 | ▲ $135,415 |
| Total Net Assets Fund Balance | $7,558,276 | $8,606,234 | ▲ $1,047,958 |
| Total Liabilities and Net Assets / Fund Balance | $7,560,431 | $10,448,112 | ▲ $2,887,681 |
| Period | Beginning | Contrib. | Gain/Loss | Other Uses | End |
|---|---|---|---|---|---|
| 2025 | $4,617,990 | $227,813 | ▲ $363,766 | $161,258 | $5,048,311 |
| 2024 | $4,170,309 | $205,178 | ▲ $380,672 | $138,169 | $4,617,990 |
| 2023 | $3,968,453 | $160,708 | ▲ $186,521 | $145,373 | $4,170,309 |
| 2022 | $4,282,766 | $238,254 | ▼ $403,978 | $148,589 | $3,968,453 |
| 2021 | $2,815,105 | $958,095 | ▲ $547,816 | $38,250 | $4,282,766 |
| Name | Title | Full / Part Time | Other | Total |
|---|---|---|---|---|
| Beverly Wadsworth | Foundation Director Thru Mar 2025 | FT | $116,265 | $116,265 |
| Name | Title |
|---|---|
| Stephanie Hammes-betti | President |
| Rachel Johnson | Vice President |
| Calvin Stewart | Board Member |
| Carolyn Hall Ii | Board Member |
| Chuck Malkerson | Board Member |
| Jamal James | Board Member |
| Linda Satorius | Board Member |
| Michael Dorsey | Board Member |
| Peter Mclaughlin | Board Member |
| Faith Ross | Foundation Director Beg May 2025 |
| Ramona Harristhal | Secretary |
| Pete Mathieson | Treasurer |
| Contribution Type | Contribution Count | Reported Amount | Valuation Method |
|---|---|---|---|
| Other Non Cash Contri Table | 9 | $31,207 | Fair Market Value (FMV) |
| Other Non Cash Contri Table | 7 | $28,504 | Fair Market Value (FMV) |
| Total Noncash Contributions | 16 | $59,711 | - |
| Line Item | Amount |
|---|---|
| Grants and Similar Amounts Paid | $1,038,285 |
| Other Expenses | $140,986 |
| Total Fundraising Expense | $22,118 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Individuals | $996,719 | - | - | $996,719 |
| Fees for Services Accounting | - | $56,540 | - | $56,540 |
| Grants to Domestic Orgs | $41,566 | - | - | $41,566 |
| Conferences and Meetings | $500 | $2,359 | $21,441 | $24,300 |
| Office Expenses | - | $21,881 | $677 | $22,558 |
| Fees for Service Investment Mgmnt Fees | - | $17,987 | - | $17,987 |
| Information Technology | - | $16,366 | - | $16,366 |
| Other Expenses | - | $1,887 | - | $1,887 |
| Insurance | - | $1,348 | - | $1,348 |
| Total Functional Expenses | $1,038,785 | $118,368 | $22,118 | $1,179,271 |
| Line Item | Amount |
|---|---|
| Total Expenses per Audited Statements | $1,451,240 |
| Total Expenses per Form 990 | $1,179,271 |
| Expenses per Audited Statements | $1,161,284 |
| Expenses Not Reported on Form 990 | $289,956 |
| Expenses Not Reported on Financial Statements | $17,987 |
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| Minneapolis Community & Technical College | Minneapolis, MN | State of Mn | Financial Aid | $13,062 |
| Minneapolis Community & Technical College | Minneapolis, MN | State of Mn | Program Equipment | $0 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
| Liability | Amount |
|---|---|
| Refundable Advance | $1,574,200 |
| Due to College | $262,010 |
“Section form 990 review process the completed form 990 is presented to the finance and audit committee for approval prior to filing.”
“Conflict of interest policy board members sign the policy when they become a member of the board. It is reviewed annually and re-signed at the beginning of a new term. The conflict of interest policy is designed to help directors, officers and employees of the mctc foundation identify situations that present potential conflicts of interest and to provide mctc foundation with a procedure which, if observed, will allow a transaction to be treated as valid and binding even though a director, officer or employee has or may have a conflict of interest with respect to the transaction. The policy is intended to comply with the procedure prescribed in minnesota statutes, section 317a.255 governing conflicts of interest for directors of non-profit corporations.”
“Foundation compensation no compensation is paid by the foundation. Management is compensated by the college.”
“Governing doc, conflict of int, etc. The mctc foundation provides its governing documents to the public. Financial statements are available to the public upon request. This information is available through the charities review council, smartgivers.org as well as guidestar.org and other public sources. The foundation also provides its financial statements to the minnesota state college and universities (mnscu), which is compiled into an annual report.”
“Endowment funds - intended use of funds 1) the whitney endowment supports the library/technology building. The earnings are to be used to provide technology, books, materials, supplies and equipment, services, related administrative expenses, and other related expenses approved by the foundation board for the benefit of wheelock whitney hall. 2) the wells family endowment was given to provide scholarships. Specifically, earnings are to provide scholarships for mctc students who demonstrate financial need with a preference for working students who are employed in a minimum skilled, low wage job. 3) bridging the equity gap endowment was given to provide support to students in the cohort. The earnings are to be used on program costs, micro-scholarhips, and to offset college-related expenses for students enrolled in the cohort program. 4) the john heinrichs academic success center - provide support to academic success center student mentors/tutors by funding biannual cash awards to student tutors who demonstrate dedication and excellence in their service as mentors to minneapolis college students. 5) the janice gepner - eric newman scholarship fund - provide scholarships and other financial support to minneapolis college students. 6) the remaining endowments were given to provide scholarships. Specifically, earnings are to provide various scholarships for mctc students.”
“The foundation is exempt from income taxes as a public charity under section 501(c)(3) of the internal revenue code and applicable state statutes. Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the foundation and recognize a tax liability if the foundation has taken an uncertain position that more likely than not would not be sustained upon examination by taxing authorities. Management evaluated the foundation's tax positions that require adjustment to the financial statements to comply with the provisions of this guidance.”
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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|---|---|---|
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| IRS990/AccountsPayableAccrExpnssGrp/EOYAmt | 0 | 5668 |
| IRS990/AccountsReceivableGrp/BOYAmt | 0 | 4018 |
| IRS990/AccountsReceivableGrp/EOYAmt | 0 | 0 |
| IRS990/ActivitiesConductedPrtshpInd | 0 | 0 |
| IRS990/ActivityOrMissionDesc | 0 | THE MINNEAPOLIS COMMUNITY & TECHNICAL COLLEGE FOUNDATION HELPS SOLVE ISSUES OF AFFORDABILITY AND ACCESS TO HIGHER EDUCATION THROUGH SCHOLARSHIPS AND INITIATIVES THAT SUPPORT STUDENTS, ENHANCE THE READINESS OF OUR WORKFORCE AND SUPPORT THE STRATEGIC PRIORITIES OF THE COLLEGE. |
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| IRS990/CashNonInterestBearingGrp/EOYAmt | 0 | 490684 |
| IRS990/ChangeToOrgDocumentsInd | 0 | 0 |
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| IRS990/ConferencesMeetingsGrp/ManagementAndGeneralAmt | 0 | 2359 |
| IRS990/ConferencesMeetingsGrp/ProgramServicesAmt | 0 | 500 |
| IRS990/ConferencesMeetingsGrp/TotalAmt | 0 | 24300 |
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| IRS990/CYGrantsAndSimilarPaidAmt | 0 | 1038285 |
| IRS990/CYInvestmentIncomeAmt | 0 | 631956 |
| IRS990/CYOtherExpensesAmt | 0 | 140986 |
| IRS990/CYOtherRevenueAmt | 0 | 0 |
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| IRS990/CYRevenuesLessExpensesAmt | 0 | 849472 |
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| IRS990/CYTotalExpensesAmt | 0 | 1179271 |
| IRS990/CYTotalFundraisingExpenseAmt | 0 | 22118 |
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| IRS990/CYTotalRevenueAmt | 0 | 2028743 |
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| IRS990/DelegationOfMgmtDutiesInd | 0 | 0 |
| IRS990/Desc | 0 | THE FOUNDATION DOES NOT ADMINISTER ANY PROGRAMS. HOWEVER, THEY RAISE FUNDS AND PROVIDE PART OR ALL OF THE FUNDING TO THE COLLEGE TO DEVELOP AND ADMINISTER SPECIFIC PROGRAMS, INITIATIVES AND SCHOLARSHIPS. |
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| IRS990/DocumentRetentionPolicyInd | 0 | 1 |
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| IRS990/DonorRestrictionNetAssetsGrp/EOYAmt | 0 | 6807997 |
| IRS990/DonorRstrOrQuasiEndowmentsInd | 0 | 1 |
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| IRS990/EngagedInExcessBenefitTransInd | 0 | 0 |
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| IRS990/FeesForServicesAccountingGrp/TotalAmt | 0 | 56540 |
| IRS990/FeesForSrvcInvstMgmntFeesGrp/ManagementAndGeneralAmt | 0 | 17987 |
| IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt | 0 | 17987 |
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| IRS990/ForeignFinancialAccountInd | 0 | 0 |
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| IRS990/Form8282PropertyDisposedOfInd | 0 | 0 |
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| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 12 | 40.00 |
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| IRS990/FormationYr | 0 | 1977 |
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| IRS990/MinutesOfGoverningBodyInd | 0 | 1 |
| IRS990/MissionDesc | 0 | THE MINNEAPOLIS COMMUNITY & TECHNICAL COLLEGE FOUNDATION HELPS SOLVE ISSUES OF AFFORDABILITY AND ACCESS TO HIGHER EDUCATION THROUGH FUNDS AND PROVIDES PART OR ALL OF THE FUNDING TO THE COLLEGE TO DEVELOP TECHNICAL COLLEGE FOUNDATION MINNEAPOLIS (CONTINUED ON SCHEDULE O) (CONTINUED FROM PAGE 2) COMMUNITY & SCHOLARSHIPS AND INITIATIVES THAT SUPPORT STUDENTS, ENHANCE THE READINESS OF OUR WORKFORCE AND SUPPORT THE STRATEGIC PRIORITIES OF THE COLLEGE. |
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| IRS990/MoreThan5000KToOrgInd | 0 | 0 |
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| IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt | 0 | 1798237 |
| IRS990/NoncashContributionsAmt | 0 | 59711 |
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| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 22558 |
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| IRS990ScheduleD/FootnoteTextInd | 0 | X |
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| IRS990ScheduleD/InvestmentExpensesNotIncldAmt | 0 | 17987 |
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| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 1 | 1574200 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | DUE TO COLLEGE |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 1 | REFUNDABLE ADVANCE |
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| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | ENDOWMENT FUNDS - INTENDED USE OF FUNDS 1) THE WHITNEY ENDOWMENT SUPPORTS THE LIBRARY/TECHNOLOGY BUILDING. THE EARNINGS ARE TO BE USED TO PROVIDE TECHNOLOGY, BOOKS, MATERIALS, SUPPLIES AND EQUIPMENT, SERVICES, RELATED ADMINISTRATIVE EXPENSES, AND OTHER RELATED EXPENSES APPROVED BY THE FOUNDATION BOARD FOR THE BENEFIT OF WHEELOCK WHITNEY HALL. 2) THE WELLS FAMILY ENDOWMENT WAS GIVEN TO PROVIDE SCHOLARSHIPS. SPECIFICALLY, EARNINGS ARE TO PROVIDE SCHOLARSHIPS FOR MCTC STUDENTS WHO DEMONSTRATE FINANCIAL NEED WITH A PREFERENCE FOR WORKING STUDENTS WHO ARE EMPLOYED IN A MINIMUM SKILLED, LOW WAGE JOB. 3) BRIDGING THE EQUITY GAP ENDOWMENT WAS GIVEN TO PROVIDE SUPPORT TO STUDENTS IN THE COHORT. THE EARNINGS ARE TO BE USED ON PROGRAM COSTS, MICRO-SCHOLARHIPS, AND TO OFFSET COLLEGE-RELATED EXPENSES FOR STUDENTS ENROLLED IN THE COHORT PROGRAM. 4) THE JOHN HEINRICHS ACADEMIC SUCCESS CENTER - PROVIDE SUPPORT TO ACADEMIC SUCCESS CENTER STUDENT MENTORS/TUTORS BY FUNDING BIANNUAL CASH AWARDS TO STUDENT TUTORS WHO DEMONSTRATE DEDICATION AND EXCELLENCE IN THEIR SERVICE AS MENTORS TO MINNEAPOLIS COLLEGE STUDENTS. 5) THE JANICE GEPNER - ERIC NEWMAN SCHOLARSHIP FUND - PROVIDE SCHOLARSHIPS AND OTHER FINANCIAL SUPPORT TO MINNEAPOLIS COLLEGE STUDENTS. 6) THE REMAINING ENDOWMENTS WERE GIVEN TO PROVIDE SCHOLARSHIPS. SPECIFICALLY, EARNINGS ARE TO PROVIDE VARIOUS SCHOLARSHIPS FOR MCTC STUDENTS. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | THE FOUNDATION IS EXEMPT FROM INCOME TAXES AS A PUBLIC CHARITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE STATUTES. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE FOUNDATION AND RECOGNIZE A TAX LIABILITY IF THE FOUNDATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT EVALUATED THE FOUNDATION'S TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | PART V, LINE 4: |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | PART X, LINE 2: |
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| IRS990ScheduleD/TotalLiabilityAmt | 0 | 1836210 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 2028743 |
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| IRS990ScheduleI/GrantRecordsMaintainedInd | 0 | 1 |
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| IRS990ScheduleI/RecipientTable/CashGrantAmt | 1 | 0 |
| IRS990ScheduleI/RecipientTable/IRCSectionDesc | 0 | STATE OF MN |
| IRS990ScheduleI/RecipientTable/IRCSectionDesc | 1 | STATE OF MN |
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| IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc | 0 | EQUIPMENT |
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| IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt | 1 | PROGRAM EQUIPMENT |
| IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt | 0 | MINNEAPOLIS COMMUNITY & TECHNICAL COLLEGE |
| IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt | 1 | MINNEAPOLIS COMMUNITY & TECHNICAL COLLEGE |
| IRS990ScheduleI/RecipientTable/RecipientEIN | 0 | 411687554 |
| IRS990ScheduleI/RecipientTable/RecipientEIN | 1 | 411687554 |
| IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt | 0 | 1501 HENNEPIN AVE SO |
| IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt | 1 | 1501 HENNEPIN AVE SO |
| IRS990ScheduleI/RecipientTable/USAddress/CityNm | 0 | MINNEAPOLIS |
| IRS990ScheduleI/RecipientTable/USAddress/CityNm | 1 | MINNEAPOLIS |
| IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd | 0 | MN |
| IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd | 1 | MN |
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