Civic Intelligence

The Minneapolis Community and Technical College Foundation Inc.

990 • Fiscal year 2024 • EIN 41-1288502

Jul 01, 2023 to Jun 30, 2024 • Filed on Nov 27, 2024

Organization ProfileWWW.MINNEAPOLIS.EDU/ALUMNI-AND-FOUNDATION
1501 Hennepin AveMinneapolis, MN 55403

(612) 659-6820

Siviq Scores

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

Liabilities / Assets

10th percentile

0.00x

Higher debt load relative to assets than 10% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

11th percentile

0.00x

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

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

21st percentile

-9.3%

Higher net margin than 21% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

39th percentile

$104,895

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 10.3% of source-year revenue.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

53rd percentile

5.6%

Faster asset growth than 53% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

18th percentile

-13%

Faster revenue growth than 18% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets10th percentile

Assets

Up

$7,560,431

Up $400,617 (+5.6%) from 2023

Net Assets

Up

$7,558,276

Up $485,766 (+6.9%) from 2023

Liabilities

Down

$2,155

Down $85,149 (-98%) from 2023

Revenue And Expenses
Liabilities / Revenue11th percentileNet Margin21st percentile

Revenue

Down

$1,021,916

Down $158,681 (-13%) from 2023

Expenses

Down

$1,116,850

Down $259,834 (-19%) from 2023

Net Income

Up

-$94,934

Up $101,153 (+52%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth53rd percentile

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

2024

Assets$7,560,431
Liabilities$2,155
Net Assets$7,558,276
Open 2024 Filing

Operations Trend

Revenue Growth18th percentile

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

2024

Revenue$1,021,916
Expenses$1,116,850
Net Income-$94,934
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 27, 2024
Return Version
2023v5.1
Gross Receipts
$1,731,373
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 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$6,639,087$7,318,690▲ $679,603
Pledges and Grants Receivable$254,980$148,432▼ $106,548
Cash and Non-Interest-Bearing Accounts$179,085$9,490▼ $169,595
Accounts Receivable$4,976$4,018▼ $958
Savings and Temporary Cash Investments$2,186$301▼ $1,885
Total Assets$7,159,814$7,560,431▲ $400,617
Other Assets Total$79,500$79,500→ $0
Liabilities
Accounts Payable and Accrued Expenses$87,304$2,155▼ $85,149
Total Liabilities$87,304$2,155▼ $85,149
Net Assets / Fund Balance
Net Assets With Donor Restrictions$5,541,686$5,895,454▲ $353,768
Net Assets Without Donor Restrictions$1,530,824$1,662,822▲ $131,998
Total Net Assets Fund Balance$7,072,510$7,558,276▲ $485,766
Total Liabilities and Net Assets / Fund Balance$7,159,814$7,560,431▲ $400,617

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
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
2020$2,797,393$137,195▼ $9,927$109,556$2,815,105
Compensation and Service Providers
Top Officer Pay39th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Beverly WadsworthFoundation DirectorFT$104,895$104,895

Board Members and Trustees

NameTitle
Stephanie Hammes-bettiPresident
Marc JensenVice President
Calvin StewartBoard Member
Carolyn Hall IiBoard Member
Chuck MalkersonBoard Member
Jamal JamesBoard Member
Linda SatoriusBoard Member
Michael DorseyBoard Member
Peter MclaughlinBoard Member
Rachel JohnsonBoard Member
Ramona HarristhalBoard Member
Pete MathiesonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$798,505
Program Service Revenue
$0
Investment Income
$223,411
Other Revenue
$0
All Other Contributions
$798,505
Change in Net Assets
$-94,934

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$49,186Fair Market Value (FMV)
Other Non Cash Contri Table9$8,500Fair Market Value (FMV)
Total Noncash Contributions17$57,686-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,005,907
Revenue Not Reported on Financial Statements
$16,009
Revenue Not Reported on Form 990
$609,859
Total Revenue per Audited Statements
$1,615,766
Total Revenue per Form 990
$1,021,916
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$969,444
Other Expenses$147,406
Total Fundraising Expense$20,281
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$887,969--$887,969
Grants to Domestic Orgs$81,475--$81,475
Fees for Services Accounting-$49,548-$49,548
Office Expenses-$27,855$678$28,533
Information Technology-$20,203-$20,203
Conferences and Meetings-$399$18,033$18,432
Fees for Service Investment Mgmnt Fees-$16,009-$16,009
Other Expenses$10,000$1,802-$11,802
Fees for Services Other--$1,570$1,570
Insurance-$1,309-$1,309
Total Functional Expenses$979,444$117,125$20,281$1,116,850

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,327,540
Total Expenses per Form 990$1,116,850
Expenses per Audited Statements$1,100,841
Expenses Not Reported on Form 990$226,699
Expenses Not Reported on Financial Statements$16,009
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Minneapolis Community & Technical CollegeMinneapolis, MNState of MnFinancial Aid$72,975
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
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
6126596820
Address
1501 HENNEPIN AVE, MINNEAPOLIS, MN 55403
Doing Business As
Minneapolis College Foundation

Signing Officer

Name
Stephanie Hammes-betti
Title
President
Phone
6126596820
Signed
2024-11-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephanie Hammes-betti
Formed
1977
Legal Domicile
Mn
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
41

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 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 wage job. 3) bridging the equity gap endowment is to provide direct student support for 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/TitleTxt2BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12FOUNDATION DIRECTOR
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IRS990/GrantsToDomesticOrgsGrp/TotalAmt081475
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IRS990/InsuranceGrp/TotalAmt01309
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IRS990/MissionDesc0THE 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.
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IRS990/NoncashContributionsAmt057686
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IRS990/ProfessionalFundraisingInd00
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IRS990/PYContributionsGrantsAmt0993130
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IRS990/PYInvestmentIncomeAmt0187467
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IRS990/RelatedEntityInd01
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IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02186
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0301
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IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
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IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
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IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
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IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/IRSWrittenDeterminationInd0X
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
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IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd02
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0969444
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0MINNEAPOLIS COMMUNITY AND TECHNICAL COLLEGE
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt0969444
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt04170309
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0205178
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt04617990
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0380672
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt0138169
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt03968453
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0160708
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt04170309
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0186521
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt0145373
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt04282766
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0238254
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt03968453
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-403978
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt0148589
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt02815105
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt0958095
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt04282766
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0547816
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt038250
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt02797393
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0137195
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt02815105
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-9927
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt0109556
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt029159
IRS990ScheduleD/DonatedServicesUseFcltsAmt0226699
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/ExpensesNotReportedAmt0226699
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt016009
IRS990ScheduleD/ExpensesSubtotalAmt01100841
IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/InvestmentExpensesNotIncldAmt016009
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0580700
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.67436
IRS990ScheduleD/RevenueNotReportedAmt0609859
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt016009
IRS990ScheduleD/RevenueSubtotalAmt01005907
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ENDOWMENT FUNDS - INTENDED USE 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 WAGE JOB. 3) BRIDGING THE EQUITY GAP ENDOWMENT IS TO PROVIDE DIRECT STUDENT SUPPORT FOR 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:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.32564
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IRS990ScheduleD/TotalExpensesPerForm990Amt01116850
IRS990ScheduleD/TotalRevenuePerForm990Amt01021916
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01615766
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01327540
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0887969
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
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IRS990ScheduleI/RecipientTable/CashGrantAmt072975
IRS990ScheduleI/RecipientTable/CashGrantAmt10
IRS990ScheduleI/RecipientTable/IRCSectionDesc0STATE OF MN
IRS990ScheduleI/RecipientTable/IRCSectionDesc1STATE OF MN
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt18500
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0EQUIPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0FINANCIAL AID
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1PROGRAM EQUIPMENT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0MINNEAPOLIS COMMUNITY & TECHNICAL COLLEGE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1MINNEAPOLIS COMMUNITY & TECHNICAL COLLEGE
IRS990ScheduleI/RecipientTable/RecipientEIN0411687554
IRS990ScheduleI/RecipientTable/RecipientEIN1411687554
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01501 HENNEPIN AVE SO
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt11501 HENNEPIN AVE SO
IRS990ScheduleI/RecipientTable/USAddress/CityNm0MINNEAPOLIS
IRS990ScheduleI/RecipientTable/USAddress/CityNm1MINNEAPOLIS
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IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1MN
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd055406
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd155406
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0FMV
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0GRANTS & SCHOLARSHIPS GRANTS ARE AVAILABLE FOR STUDENTS FROM BOTH FEDERAL AND STATE AGENCIES AND THE AMOUNT THAT YOU ARE ELIGIBLE TO RECEIVE IS CALCULATED AFTER YOU SUBMIT THE FAFSA APPLICATION. THE US DEPARTMENT OF EDUCATION APPLIES THE SAME RULES AND CALCULATIONS TO EVERY APPLICATION TO SEE WHO IS ELIGIBLE FOR FINANCIAL AID. THE MCTC FINACIAL AID OFFICE THEN DETERMINES YOUR FINANCIAL AID ELIGIBILITY BY APPLYING FEDERALLY OUTLINED RULES. THERE ARE ALSO A VARIETY OF SCHOLARSHIPS OFFERED EACH YEAR BY THE MCTC FOUNDATION. TO BE CONSIDERED FOR A SCHOLARSHIP, YOU MUST HAVE A FAFSA APPLICATION ON FILE ALONG WITH PERSONAL ESSAYS AND LETTERS OF RECOMENDATION. SPECIFIC CRITERIA ARE LISTED IN EACH SCHOLARSHIP APPLICATION FORM.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt01
IRS990/ScheduleJRequiredInd00
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt08

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,560,431
Liabilities
$2,155
Net assets
$7,558,276
Revenue
$1,021,916
Expenses
$1,116,850
Net income
-$94,934
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