Civic Intelligence

Minneapolis Comm and Tech College Foundation

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.

1501 Hennepin AveMinneapolis, MN 55403

www.mctcfoundation.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

50th percentile

0.18x

Higher debt load relative to assets than 50% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Liabilities / Revenue

79th percentile

0.91x

Higher debt load relative to revenue than 79% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Net Margin

86th percentile

42%

Higher net margin than 86% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Top Officer Pay

31st percentile

$116,265

Higher top officer pay than 31% of similar nonprofits.

Top officer pay equals 5.7% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Asset Growth

90th percentile

38%

Faster asset growth than 90% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Revenue Growth

93rd percentile

99%

Faster revenue growth than 93% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2024 to 2025

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

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2010: $3,269,477Liabilities 2010: $121,500Net Assets 2010: $3,147,9772010Assets 2011: $3,465,103Liabilities 2011: $96,035Net Assets 2011: $3,369,0682011Assets 2012: $3,165,685Liabilities 2012: $6,188Net Assets 2012: $3,159,4972012Assets 2013: $3,204,010Liabilities 2013: $2,326Net Assets 2013: $3,201,6842013Assets 2014: $3,858,418Liabilities 2014: $22,076Net Assets 2014: $3,836,3422014Assets 2015: $5,444,421Liabilities 2015: $30,570Net Assets 2015: $5,413,8512015Assets 2016: $4,914,110Liabilities 2016: $45,228Net Assets 2016: $4,868,8822016Assets 2017: $4,825,458Liabilities 2017: $54,113Net Assets 2017: $4,771,3452017Assets 2018: $4,922,588Liabilities 2018: $9,048Net Assets 2018: $4,913,5402018Assets 2019: $5,139,192Liabilities 2019: $49,962Net Assets 2019: $5,089,2302019Assets 2020: $5,177,105Liabilities 2020: $6,778Net Assets 2020: $5,170,3272020Assets 2021: $7,460,221Liabilities 2021: $70,225Net Assets 2021: $7,389,9962021Assets 2022: $7,090,729Liabilities 2022: $33,814Net Assets 2022: $7,056,9152022Assets 2023: $7,159,814Liabilities 2023: $87,304Net Assets 2023: $7,072,5102023Assets 2024: $7,560,431Liabilities 2024: $2,155Net Assets 2024: $7,558,2762024Assets 2025: $10,448,112Liabilities 2025: $1,841,878Net Assets 2025: $8,606,2342025

Highlighted filing

2025

Assets$10,448,112
Liabilities$1,841,878
Net Assets$8,606,234

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $558,6232010Revenue 2011: $642,295Expenses 2011: $672,044Net Income 2011: -$29,7492011Expenses 2012: $864,6362012Revenue 2013: $841,337Expenses 2013: $886,847Net Income 2013: -$45,5102013Revenue 2014: $1,001,039Expenses 2014: $596,866Net Income 2014: $404,1732014Revenue 2015: $2,538,248Expenses 2015: $980,971Net Income 2015: $1,557,2772015Revenue 2016: $963,995Expenses 2016: $1,348,362Net Income 2016: -$384,3672016Revenue 2017: $677,586Expenses 2017: $1,049,326Net Income 2017: -$371,7402017Revenue 2018: $1,679,765Expenses 2018: $951,948Net Income 2018: $727,8172018Revenue 2019: $795,044Expenses 2019: $760,915Net Income 2019: $34,1292019Revenue 2020: $1,180,138Expenses 2020: $651,791Net Income 2020: $528,3472020Revenue 2021: $1,561,179Expenses 2021: $642,906Net Income 2021: $918,2732021Revenue 2022: $2,330,993Expenses 2022: $1,251,459Net Income 2022: $1,079,5342022Revenue 2023: $1,180,597Expenses 2023: $1,376,684Net Income 2023: -$196,0872023Revenue 2024: $1,021,916Expenses 2024: $1,116,850Net Income 2024: -$94,9342024Revenue 2025: $2,028,743Expenses 2025: $1,179,271Net Income 2025: $849,4722025

Highlighted filing

2025

Revenue$2,028,743
Expenses$1,179,271
Net Income$849,472

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$10.4$1.84$8.61$2.03$1.18$0.85
2024Detailed filing. Detailed filing data is available for this year.$7.56$0.00$7.56$1.02$1.12$0.09
2023Detailed filing. Detailed filing data is available for this year.$7.16$0.09$7.07$1.18$1.38$0.20
2022Detailed filing. Detailed filing data is available for this year.$7.09$0.03$7.06$2.33$1.25$1.08
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.46$0.07$7.39$1.56$0.64$0.92
2020Detailed filing. Detailed filing data is available for this year.$5.18$0.01$5.17$1.18$0.65$0.53
2019Detailed filing. Detailed filing data is available for this year.$5.14$0.05$5.09$0.80$0.76$0.03
2018Detailed filing. Detailed filing data is available for this year.$4.92$0.01$4.91$1.68$0.95$0.73
2017Detailed filing. Detailed filing data is available for this year.$4.83$0.05$4.77$0.68$1.05$0.37
2016Detailed filing. Detailed filing data is available for this year.$4.91$0.05$4.87$0.96$1.35$0.38
2015Detailed filing. Detailed filing data is available for this year.$5.44$0.03$5.41$2.54$0.98$1.56
2014Detailed filing. Detailed filing data is available for this year.$3.86$0.02$3.84$1.00$0.60$0.40
2013Summary only. Only limited summary data is available for this year.$3.20$0.00$3.20$0.84$0.89$0.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.17$0.01$3.16$0.86
2011Summary only. Only limited summary data is available for this year.$3.47$0.10$3.37$0.64$0.67$0.03
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.27$0.12$3.15$0.56
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Jan 13, 2026
Return Version
2024v5.5
Gross Receipts
$2,227,019
Mission and Program Overview

Mission

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.

Balance Sheet Detail
LineBeginningEndChange
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

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Beverly WadsworthFoundation Director Thru Mar 2025FT$116,265$116,265

Board Members and Trustees

NameTitle
Stephanie Hammes-bettiPresident
Rachel JohnsonVice President
Calvin StewartBoard Member
Carolyn Hall IiBoard Member
Chuck MalkersonBoard Member
Jamal JamesBoard Member
Linda SatoriusBoard Member
Michael DorseyBoard Member
Peter MclaughlinBoard Member
Faith RossFoundation Director Beg May 2025
Ramona HarristhalSecretary
Pete MathiesonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,396,787
Program Service Revenue
$0
Investment Income
$631,956
Other Revenue
$0
All Other Contributions
$1,381,787
Change in Net Assets
$849,472

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table9$31,207Fair Market Value (FMV)
Other Non Cash Contri Table7$28,504Fair Market Value (FMV)
Total Noncash Contributions16$59,711-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,010,756
Revenue Not Reported on Financial Statements
$17,987
Revenue Not Reported on Form 990
$229,629
Total Revenue per Audited Statements
$2,240,385
Total Revenue per Form 990
$2,028,743
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
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

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
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

Audited Expense Reconciliation

Line ItemAmount
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
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Minneapolis Community & Technical CollegeMinneapolis, MNState of MnFinancial Aid$13,062
Minneapolis Community & Technical CollegeMinneapolis, MNState of MnProgram Equipment$0
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
Refundable Advance$1,574,200
Due to College$262,010
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 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, Part VI, Section B, Line 11B

Section form 990 review process the completed form 990 is presented to the finance and audit committee for approval prior to filing.

Form 990, Part VI, Section B, Line 12C

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.

Form 990, Part VI, Section B, Line 15

Foundation compensation no compensation is paid by the foundation. Management is compensated by the college.

Form 990, Part VI, Section C, Line 19

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.

Filing and Contact Details

Filer

Filer Name
Minneapolis Community &
EIN
41-1288502
Phone
6129640527
Address
1501 HENNEPIN AVE, MINNEAPOLIS, MN 55403
Doing Business As
Minneapolis College Foundation

Signing Officer

Name
Stephanie Hammes-betti
Title
President
Phone
6129640527
Signed
2026-01-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephanie Hammes-betti
Formed
1977
Legal Domicile
Mn
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
48

Preparer

Firm
Sdk CPA
Address
100 WASHINGTON AVE S STE 1600, MINNEAPOLIS, MN 55401
Preparer
Teresa Mcalpine CPA
Phone
6123325500
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

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.

PART X, LINE 2:

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.

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IRS990/ActivityOrMissionDesc0THE 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/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11FOUNDATION DIRECTOR THRU MAR 2025
IRS990/Form990PartVIISectionAGrp/TitleTxt12FOUNDATION DIRECTOR BEG MAY 2025
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IRS990/MissionDesc0THE 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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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0MINNEAPOLIS COMMUNITY AND TECHNICAL COLLEGE
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ENDOWMENT 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/ExplanationTxt1THE 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/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1PROGRAM EQUIPMENT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0MINNEAPOLIS COMMUNITY & TECHNICAL COLLEGE
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