Civic Intelligence

The Minneapolis Community and Technical College Foundation Inc.

990 • Fiscal year 2014 • EIN 41-1288502

Jul 01, 2013 to Jun 30, 2014 • Filed on Feb 15, 2015

1501 Hennepin AveSuiteMinneapolis, MN 55403

(612) 659-6315

Siviq Scores

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

Liabilities / Assets

21st percentile

0.01x

Higher debt load relative to assets than 21% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

25th percentile

0.02x

Higher debt load relative to revenue than 25% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

89th percentile

40%

Higher net margin than 89% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

81st percentile

$133,046

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 13.3% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

82nd percentile

20%

Faster asset growth than 82% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

74th percentile

19%

Faster revenue growth than 74% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Assets

Up

$3,858,418

Up $654,408 (+20%) from 2013

Net Assets

Up

$3,836,342

Up $634,658 (+20%) from 2013

Liabilities

Up

$22,076

Up $19,750 (+849%) from 2013

Revenue

Up

$1,001,039

Up $159,702 (+19%) from 2013

Expenses

Down

$596,866

Down $289,981 (-33%) from 2013

Net Income

Up

$404,173

Up $449,683 (+988%) from 2013

Historical Trend

Balance Sheet Trend

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

$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

2014

Assets$3,858,418
Liabilities$22,076
Net Assets$3,836,342

Operations Trend

Revenue, expenses, and net income across loaded years, with this 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

2014

Revenue$1,001,039
Expenses$596,866
Net Income$404,173
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Feb 15, 2015
Return Version
2013v4.0
Gross Receipts
$1,800,120
Mission and Program Overview

Mission

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.

The mission of the minneapolis community & technical college foundation is to provide financial assistance and educational support to those students of need who attend mctc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,318,070$3,176,005▲ $857,935
Cash and Non-Interest-Bearing Accounts$714,420$316,515▼ $397,905
Pledges and Grants Receivable$90,289$284,668▲ $194,379
Accounts Receivable$1,731$1,730▼ $1
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Land, Buildings, and Equipment, Net$0--
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$3,204,010$3,858,418▲ $654,408
Other Assets Total$79,500$79,500→ $0
Liabilities
Other Liabilities$0$14,250▲ $14,250
Accounts Payable and Accrued Expenses$1,449$5,798▲ $4,349
Grants Payable$877$2,028▲ $1,151
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$2,326$22,076▲ $19,750
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,343,633$1,574,657▲ $231,024
Permanently Rstr Net Assets$1,102,276$1,404,414▲ $302,138
Unrestricted Net Assets$755,775$857,271▲ $101,496
Total Net Assets Fund Balance$3,201,684$3,836,342▲ $634,658
Total Liabilities and Net Assets / Fund Balance$3,204,010$3,858,418▲ $654,408

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$1,648,604$311,276▲ $183,036-$2,142,916
2013$1,535,202$150▲ $115,423-$1,650,775
2012$1,570,195$2,066▼ $37,059-$1,535,202
2011$1,342,973$3,892▲ $223,330-$1,570,195
2010$1,217,018-▲ $125,955-$1,342,973
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Reede WebsterExecutive DirectorPT$133,046$133,046

Board Members and Trustees

NameTitle
Ramona HarristhalPresident
Harry Davis JrVice President
David BrumbaughBoard Member
Dominic VenturoBoard Member
Jacqueline Elliott AndersonBoard Member
Jeff CusterBoard Member
Julie ChavezBoard Member
Matt LewisBoard Member
Melissa RahnBoard Member
Oladimeji Dj SuleBoard Member
Ordeen BraathenBoard Member
Paul TerryBoard Member
Marni HarperInterim Executive Director
Ken BradleySecretary
Orlando FloresTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$897,774
Program Service Revenue
$0
Investment Income
$103,265
Other Revenue
$0
All Other Contributions
$897,774
Change in Net Assets
$404,173

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 Table18$51,175Fair Market Value (FMV)
Other Non Cash Contri Table32$14,622Fair Market Value (FMV)
Total Noncash Contributions50$65,797-

Audited Revenue Reconciliation

Revenue per Audited Statements
$972,020
Revenue Not Reported on Financial Statements
$29,019
Revenue Not Reported on Form 990
$326,252
Total Revenue per Audited Statements
$1,298,272
Total Revenue per Form 990
$1,001,039
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$523,348
Other Expenses$73,518
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$273,649--$273,649
Grants to Domestic Individuals$249,699--$249,699
Fees for Service Investment Mgmnt Fees-$29,019-$29,019
Fees for Services Other-$24,960-$24,960
Fees for Services Accounting-$9,106-$9,106
Office Expenses-$6,202-$6,202
Conferences and Meetings-$3,066-$3,066
Insurance-$1,165-$1,165
Total Functional Expenses$523,348$73,518$0$596,866

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$663,614
Total Expenses per Form 990$596,866
Expenses per Audited Statements$567,847
Expenses Not Reported on Form 990$95,767
Expenses Not Reported on Financial Statements$29,019
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
41-1687554-501(c) 3Financial Aid$199,568
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Fiscal Agent Payable$14,250
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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

Part VI, Section B, Line 11A

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

PART VI, SECTION B: POLICIES, LINE 12C

Board members sign the policy when they become a member of the board. It is reviewed annually and resigned 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.

PART VI, SECTION C: DISCLOSURE, LINE 19

The MCTC Foundation provides its governing documents to the public. Financial statements are available to 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 governing documents to the Minnesota State College and Universities (MnSCU), which is compiled into an annual report.

PART VI, SECTION B: DISCLOSURE, LINE 15

No compensation is paid by the foundation. Management is compensated by the college.

Filing and Contact Details

Filer

EIN
41-1288502
In Care Of
% REEDE WEBSTER
Phone
6126596315

Signing Officer

Name
Reede Webster
Title
Director
Phone
6126596315
Signed
2015-02-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Reede Webster
Formed
1977
Legal Domicile
Mn
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
40

Preparer

Preparer
William Belvedere CPA
Phone
6126596315
Supplemental Narrative

Additional Explanations

PART I: SUMMARY & PART III: STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS

The mission of the minneapolis community & technical college 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 approve funding of programs that are specifically related to the mission of the college.

Form 990, Part XI, Line 5

Net unrealized gain on investments $230,485

Financial Statement Notes

Part XII, Line 4B and Part XIII Line 4B

For financial statement purposes, investment fees of $29,019 are included in total revenues. For tax return purposes, the $29,019 of investment fees are included in part ix, line 11f of the form 990.

Schedule D, Part V, Line 4

1) the whitney endowment was given in support of 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 wages job.

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. THE FOUNDATION HAS EVALUATED ITS TAX POSITIONS FOR UNCERTAINTY AND HAS NO UNRECOGNIZED TAX MATTERS THAT ARE REQUIRED TO BE DISCLOSED. THE FOUNDATIONS'S FEDERAL TAX RETURNS GENERALLY REMAINING OPEN FOR EXAMINATION ARE THE LAST THREE YEARS FROM THE FILING DATE AND TAX FILINGS ARE CURRENT.

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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2014 filings • 501(c)3 • $1M-$5M nonprofits