Civic Intelligence

The Minneapolis Community and Technical College Foundation Inc.

990 • Fiscal year 2016 • EIN 41-1288502

Jul 01, 2015 to Jun 30, 2016 • Filed on Jan 15, 2017

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

25th percentile

0.01x

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

35th percentile

0.05x

Higher debt load relative to revenue than 35% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

9th percentile

-40%

Higher net margin than 9% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

86th percentile

$170,731

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 17.7% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

13th percentile

-9.7%

Faster asset growth than 13% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

4th percentile

-62%

Faster revenue growth than 4% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Down

$4,914,110

Down $530,311 (-9.7%) from 2015

Net Assets

Down

$4,868,882

Down $544,969 (-10%) from 2015

Liabilities

Up

$45,228

Up $14,658 (+48%) from 2015

Revenue

Down

$963,995

Down $1,574,253 (-62%) from 2015

Expenses

Up

$1,348,362

Up $367,391 (+37%) from 2015

Net Income

Down

-$384,367

Down $1,941,644 (-125%) from 2015

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

2016

Assets$4,914,110
Liabilities$45,228
Net Assets$4,868,882

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

2016

Revenue$963,995
Expenses$1,348,362
Net Income-$384,367
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Jan 15, 2017
Return Version
2015v3.0
Gross Receipts
$1,936,471
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$3,765,292$3,325,618▼ $439,674
Pledges and Grants Receivable$492,955$702,532▲ $209,577
Savings and Temporary Cash Investments$571,891$450,071▼ $121,820
Cash and Non-Interest-Bearing Accounts$526,660$352,182▼ $174,478
Accounts Receivable$8,123$4,207▼ $3,916
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$5,444,421$4,914,110▼ $530,311
Other Assets Total$79,500$79,500→ $0
Liabilities
Grants Payable$10,000$23,125▲ $13,125
Accounts Payable and Accrued Expenses$6,320$22,103▲ $15,783
Other Liabilities$14,250$0▼ $14,250
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$30,570$45,228▲ $14,658
Net Assets / Fund Balance
Temporarily Rstr Net Assets$2,861,994$2,199,711▼ $662,283
Permanently Rstr Net Assets$1,406,614$1,411,614▲ $5,000
Unrestricted Net Assets$1,145,243$1,257,557▲ $112,314
Total Net Assets Fund Balance$5,413,851$4,868,882▼ $544,969
Total Liabilities and Net Assets / Fund Balance$5,444,421$4,914,110▼ $530,311

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$2,135,049$7,838▼ $44,843-$2,098,044
2015$2,142,916$7,180▼ $15,047-$2,135,049
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
Compensation and Service Providers

Board Members and Trustees

NameTitle
Harry Davis JrPresident
Orlando FloresVice President
Cam HoangBoard Member
Candace Steele FlippinBoard Member
David HoughBoard Member
Dominic VenturoBoard Member
Jeff GoettlBoard Member
Kimberly SpatesBoard Member
M Valerina MoellerBoard Member
Marc JensenBoard Member
Melissa RahnBoard Member
Mike FavorBoard Member
Paul WilliamsBoard Member
Walter ChesleyBoard Member
Jacqueline Elliott AndersonBoard Member - Emeritus
Ramona HarristhalBoard Member - Emeritus
Mike ChristensonInterim Executive Director
Ken BradleySecretary
Jeff CusterTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,016,952
Program Service Revenue
$0
Investment Income
$-10,657
Other Revenue
$-42,300
All Other Contributions
$838,409
Change in Net Assets
$-384,367

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 Table8$83,558Fair Market Value (FMV)
Other Non Cash Contri Table7$5,215Fair Market Value (FMV)
Total Noncash Contributions15$88,773-

Audited Revenue Reconciliation

Revenue per Audited Statements
$932,175
Revenue Not Reported on Financial Statements
$31,820
Revenue Not Reported on Form 990
$112,269
Total Revenue per Audited Statements
$1,044,444
Total Revenue per Form 990
$963,995
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,160,190
Other Expenses$188,172
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$673,706--$673,706
Grants to Domestic Individuals$486,484--$486,484
Fees for Services Other-$52,805-$52,805
All Other Expenses-$46,863-$46,863
Fees for Service Investment Mgmnt Fees-$31,820-$31,820
Information Technology-$23,152-$23,152
Office Expenses-$11,936-$11,936
Conferences and Meetings-$8,423-$8,423
Fees for Services Accounting-$7,200-$7,200
Insurance-$1,165-$1,165
Occupancy-$178-$178
Other Expenses-$150-$150
Total Functional Expenses$1,160,190$188,172$0$1,348,362

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,589,413
Total Expenses per Form 990$1,348,362
Expenses per Audited Statements$1,316,542
Expenses Not Reported on Form 990$272,871
Expenses Not Reported on Financial Statements$31,820
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Minneapolis Community & Technical CollegeMinneapolis, MN501(c) 3Financial Aid$673,706
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$42,300
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Power of Giving$178,543-$42,300-
Total Events$178,543-$42,300$-42,300
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
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 C, Question 19

The organization's governing documents, conflict of interest policy and financial statements are available to the public upon request.

Filing and Contact Details

Filer

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

Signing Officer

Name
Jeff Custer
Title
Treasurer
Phone
6126596313
Signed
2017-01-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeff Custer
Formed
1977
Legal Domicile
Mn
Voting Board Members
17
Independent Board Members
17
Employees
0
Volunteers
40

Preparer

Firm
SCHECHTER DOKKEN KANTER CPA'S
Address
100 WASHINGTON AVE SO 1600, MINNEAPOLIS, MN 55401-2192
Preparer
Charles Selcer 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 loss on investments $160,602

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 $31,820 are included in total revenues. For tax return purposes, the $31,820 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 $42,300 are included in total expenses. For tax return purposes, the $42,300 of special event expenses are included in part viii, line 8b - direct expenses from fundraising - of the form 990.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt6TREASURER
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IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER - EMERITUS
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IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD MEMBER
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IRS990/GainOrLossGrp/SecuritiesAmt0-62014
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IRS990/GrossReceiptsAmt01936471
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IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0SEE SCHEDULE O.
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IRS990/NetAssetsOrFundBalancesEOYAmt04868882
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IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt0-42300
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
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IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt079500
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0DONOR RECOGNITION
IRS990/OtherExpensesGrp/Desc1PARKING
IRS990/OtherExpensesGrp/Desc2CATERING
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2761
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3150
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IRS990/OtherExpensesGrp/TotalAmt2761
IRS990/OtherExpensesGrp/TotalAmt3150
IRS990/OtherLiabilitiesGrp/BOYAmt014250
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IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt01411614
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0702532
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IRS990/PYContributionsGrantsAmt02415706
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt0769498
IRS990/PYInvestmentIncomeAmt0166526
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IRS990/PYOtherExpensesAmt0169783
IRS990/PYOtherRevenueAmt0-43984
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt01557277
IRS990/PYSalariesCompEmpBnftPaidAmt023790
IRS990/PYTotalExpensesAmt0980971
IRS990/PYTotalProfFndrsngExpnsAmt017900
IRS990/PYTotalRevenueAmt02538248
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
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IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-384367
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd0false

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