Civic Intelligence

The Minneapolis Community and Technical College Foundation Inc.

990 • Fiscal year 2015 • EIN 41-1288502

Jul 01, 2014 to Jun 30, 2015 • Filed on Nov 24, 2015

1501 Hennepin Ave Suite K1100Minneapolis, MN 55403

(612) 659-6315

Siviq Scores

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

Liabilities / Assets

14th percentile

0.01x

Higher debt load relative to assets than 14% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

11th percentile

0.01x

Higher debt load relative to revenue than 11% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Net Margin

94th percentile

61%

Higher net margin than 94% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

67th percentile

$162,525

Higher top officer pay than 67% of similar nonprofits.

Top officer pay equals 6.4% of source-year revenue.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Asset Growth

91st percentile

41%

Faster asset growth than 91% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

96th percentile

154%

Faster revenue growth than 96% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Assets

Up

$5,444,421

Up $1,586,003 (+41%) from 2014

Net Assets

Up

$5,413,851

Up $1,577,509 (+41%) from 2014

Liabilities

Up

$30,570

Up $8,494 (+38%) from 2014

Revenue

Up

$2,538,248

Up $1,537,209 (+154%) from 2014

Expenses

Up

$980,971

Up $384,105 (+64%) from 2014

Net Income

Up

$1,557,277

Up $1,153,104 (+285%) from 2014

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

2015

Assets$5,444,421
Liabilities$30,570
Net Assets$5,413,851

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

2015

Revenue$2,538,248
Expenses$980,971
Net Income$1,557,277
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Nov 24, 2015
Return Version
2014v5.0
Gross Receipts
$3,300,156
Mission and Program Overview

Mission

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$3,176,005$3,765,292▲ $589,287
Savings and Temporary Cash Investments$0$571,891▲ $571,891
Cash and Non-Interest-Bearing Accounts$316,515$526,660▲ $210,145
Pledges and Grants Receivable$284,668$492,955▲ $208,287
Accounts Receivable$1,730$8,123▲ $6,393
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$3,858,418$5,444,421▲ $1,586,003
Other Assets Total$79,500$79,500→ $0
Liabilities
Other Liabilities$14,250$14,250→ $0
Grants Payable$2,028$10,000▲ $7,972
Accounts Payable and Accrued Expenses$5,798$6,320▲ $522
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$22,076$30,570▲ $8,494
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,574,657$2,861,994▲ $1,287,337
Permanently Rstr Net Assets$1,404,414$1,406,614▲ $2,200
Unrestricted Net Assets$857,271$1,145,243▲ $287,972
Total Net Assets Fund Balance$3,836,342$5,413,851▲ $1,577,509
Total Liabilities and Net Assets / Fund Balance$3,858,418$5,444,421▲ $1,586,003

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$2,142,916$7,180▼ $15,047-$2,135,049
2013$1,648,604$311,276▲ $183,036-$2,142,916
2012$1,535,202$150▲ $115,423-$1,650,775
2011$1,570,195$2,066▼ $37,059-$1,535,202
2010$1,342,973$3,892▲ $223,330-$1,570,195
Compensation and Service Providers

Board Members and Trustees

NameTitle
Harry Davis JrPresident
Orlando FloresVice President
David HoughBoard Member
Dominic VenturoBoard Member
Jacqueline Elliott AndersonBoard Member
Jeff GoettlBoard Member
Kimberly SpatesBoard Member
M Valerina MoellerBoard Member
Marc JensenBoard Member
Melissa RahnBoard Member
Mike FavorBoard Member
Ordeen BraathenBoard Member
Ramona HarristhalBoard Member
Walter ChesleyBoard Member
Reede WebsterExecutive Director
Ken BradleySecretary
Jeff CusterTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,415,706
Program Service Revenue
$0
Investment Income
$166,526
Other Revenue
$-43,984
All Other Contributions
$1,087,991
Change in Net Assets
$1,557,277

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeReported AmountValuation Method
Other Non Cash Contri Table$81,844Fair Market Value (FMV)
Other Non Cash Contri Table$23,333Fair Market Value (FMV)
Total Noncash Contributions$105,177-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,506,361
Revenue Not Reported on Financial Statements
$31,887
Revenue Not Reported on Form 990
$270,914
Total Revenue per Audited Statements
$2,777,275
Total Revenue per Form 990
$2,538,248
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$769,498
Other Expenses$169,783
Salaries, Compensation, and Employee Benefits$23,790
Professional Fundraising Fees$17,900
Total Fundraising Expense$17,900

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$450,078--$450,078
Grants to Domestic Individuals$319,420--$319,420
Other Expenses-$117,344-$117,344
Fees for Service Investment Mgmnt Fees-$31,887-$31,887
Other Salaries and Wages-$18,715-$18,715
Fees for Services Professional Fundraising--$17,900$17,900
Fees for Services Accounting-$7,300-$7,300
Conferences and Meetings-$7,284-$7,284
Office Expenses-$4,803-$4,803
Other Employee Benefits-$3,643-$3,643
Payroll Taxes-$1,432-$1,432
Insurance-$1,165-$1,165
Total Functional Expenses$769,498$193,573$17,900$980,971

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,199,766
Total Expenses per Form 990$980,971
Expenses per Audited Statements$949,084
Expenses Not Reported on Form 990$250,682
Expenses Not Reported on Financial Statements$31,887
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Minneapolis Community & Technical CollegeMinneapolis, MN501(c) 3Financial Aid$338,901
Minneapolis Community & Technical CollegeMinneapolis, MN501(c) 3Program Equipment-
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$43,984
Professional Fundraising Fees$17,900

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Centennial Even$335,999-$43,984-
Total Events$335,999-$43,984$-43,984
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
Filing and Contact Details

Filer

Filer Name
Minneapolis Comm and Tech College Foundation
EIN
41-1288502
In Care Of
% REEDE WEBSTER
Phone
6126596315
Address
1501 HENNEPIN AVE SUITE K1100, MINNEAPOLIS, MN 55403

Signing Officer

Name
Reede Webster
Title
Director
Phone
6126596312
Signed
2015-11-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Reede Webster
Formed
1977
Legal Domicile
Mn
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
40

Preparer

Firm
SCHECHTER DOKKEN KANTER CPA'S
Address
100 WASHINGTON AVE SO 1600, MINNEAPOLIS, MN 55401-2192
Preparer
William Belvedere CPA
Phone
6123325500
Supplemental Narrative

Additional Explanations

ORGANIZATION'S MISSION

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 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 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.

Governing Documents, Conflict of Interest Policy, and Financial Statements

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.

Reconciliation of Net Assets

Net unrealized gain on investments $20,232

Foundation Compensation

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

Financial Statement Notes

Reconciliation of Expense Per Financial Statements and Expense Per Return

For financial statement purposes, investment fees of $31,887 are included in total revenues. For tax return purposes, the $31,887 of investment fees are included in part ix, line 11f of the form 990.

Endowment Funds- Intended Uses of Funds

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.

Fin 48 (asc 740) Footnote

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.

Reconciliation of Expense per Financial Statement

For financial statement purposes, special event expenses of $43,984 are included in total expenses. For tax return purposes, the $43,984 of special event exenpeses are included in part viii, line 8b - direct expenses from fundraising -of the form 990.

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IRS990/MissionDesc0SEE SCHEDULE O.
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IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd0false
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IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd0false
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IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd0true
IRS990ScheduleA/IRSWrittenDeterminationInd0X

Document Assets

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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