Civic Intelligence

Dakota County Technical College Foundation

990 • Fiscal year 2016 • EIN 41-1488605

Jul 01, 2015 to Jun 30, 2016 • Filed on Apr 14, 2017

1300 145th St EastRosemount, MN 55068

(651) 423-8236

Siviq Scores

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

Liabilities / Assets

36th percentile

0.03x

Higher debt load relative to assets than 36% of similar nonprofits.

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

Liabilities / Revenue

58th percentile

0.16x

Higher debt load relative to revenue than 58% of similar nonprofits.

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

Net Margin

27th percentile

-6.1%

Higher net margin than 27% of similar nonprofits.

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

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

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

Asset Growth

28th percentile

-3.2%

Faster asset growth than 28% of similar nonprofits.

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

Revenue Growth

24th percentile

-10%

Faster revenue growth than 24% of similar nonprofits.

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

Assets

Down

$3,616,844

Down $120,447 (-3.2%) from 2015

Net Assets

Down

$3,493,831

Down $223,433 (-6.0%) from 2015

Liabilities

Up

$123,013

Up $102,986 (+514%) from 2015

Revenue

Down

$783,438

Down $88,115 (-10%) from 2015

Expenses

Down

$831,073

Down $367,110 (-31%) from 2015

Net Income

Up

-$47,635

Up $278,995 (+85%) from 2015

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2010: $2,415,556Liabilities 2010: $0Net Assets 2010: $2,415,5562010Assets 2011: $3,195,551Liabilities 2011: $28,500Net Assets 2011: $3,167,0512011Assets 2012: $3,105,756Liabilities 2012: $25,500Net Assets 2012: $3,080,2562012Assets 2013: $3,434,815Liabilities 2013: $22,500Net Assets 2013: $3,412,3152013Assets 2014: $4,047,389Liabilities 2014: $19,500Net Assets 2014: $4,027,8892014Assets 2015: $3,737,291Liabilities 2015: $20,027Net Assets 2015: $3,717,2642015Assets 2016: $3,616,844Liabilities 2016: $123,013Net Assets 2016: $3,493,8312016Assets 2017: $3,977,867Liabilities 2017: $92,291Net Assets 2017: $3,885,5762017Assets 2018: $4,452,427Liabilities 2018: $110,291Net Assets 2018: $4,342,1362018Assets 2019: $4,908,098Liabilities 2019: $226,117Net Assets 2019: $4,681,9812019Assets 2020: $5,186,373Liabilities 2020: $280,791Net Assets 2020: $4,905,5822020Assets 2021: $6,523,135Liabilities 2021: $444,511Net Assets 2021: $6,078,6242021Assets 2022: $6,103,150Liabilities 2022: $606,527Net Assets 2022: $5,496,6232022Assets 2023: $7,035,895Liabilities 2023: $802,538Net Assets 2023: $6,233,3572023Assets 2024: $7,615,309Liabilities 2024: $1,169,942Net Assets 2024: $6,445,3672024Assets 2025: $8,389,737Liabilities 2025: $1,529,131Net Assets 2025: $6,860,6062025

Highlighted filing

2016

Assets$3,616,844
Liabilities$123,013
Net Assets$3,493,831

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2010: $435,5212010Expenses 2011: $317,6332011Expenses 2012: $338,4322012Revenue 2013: $779,236Expenses 2013: $565,585Net Income 2013: $213,6512013Revenue 2014: $844,734Expenses 2014: $585,946Net Income 2014: $258,7882014Revenue 2015: $871,553Expenses 2015: $1,198,183Net Income 2015: -$326,6302015Revenue 2016: $783,438Expenses 2016: $831,073Net Income 2016: -$47,6352016Revenue 2017: $997,449Expenses 2017: $1,001,808Net Income 2017: -$4,3592017Revenue 2018: $727,797Expenses 2018: $548,712Net Income 2018: $179,0852018Revenue 2019: $734,458Expenses 2019: $561,746Net Income 2019: $172,7122019Revenue 2020: $786,409Expenses 2020: $515,240Net Income 2020: $271,1692020Revenue 2021: $717,332Expenses 2021: $532,224Net Income 2021: $185,1082021Revenue 2022: $1,074,953Expenses 2022: $971,125Net Income 2022: $103,8282022Revenue 2023: $1,438,777Expenses 2023: $932,342Net Income 2023: $506,4352023Revenue 2024: $846,862Expenses 2024: $1,058,703Net Income 2024: -$211,8412024Revenue 2025: $588,108Expenses 2025: $756,644Net Income 2025: -$168,5362025

Highlighted filing

2016

Revenue$783,438
Expenses$831,073
Net Income-$47,635
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Apr 14, 2017
Return Version
2015v3.0
Gross Receipts
$959,869
Mission and Program Overview

Mission

Support dakota county technical college's mission, education for employment, by providing resource support for students, the college and the programs.

The foundation serves and is responsive to the evolving needs of dctc's mission of education for employment and the lives of its students, faculty and administrators.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,396,053$1,380,716▼ $15,337
Cash and Non-Interest-Bearing Accounts$0$371,240▲ $371,240
Savings and Temporary Cash Investments$718,270$253,358▼ $464,912
Land, Buildings, and Equipment, Net$3,300--
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$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
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$3,737,291$3,616,844▼ $120,447
Other Assets Total$1,619,668$1,611,530▼ $8,138
Liabilities
Other Liabilities$0$102,791▲ $102,791
Deferred Revenue$16,500$13,500▼ $3,000
Accounts Payable and Accrued Expenses$3,527$6,722▲ $3,195
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$20,027$123,013▲ $102,986
Net Assets / Fund Balance
Unrestricted Net Assets$789,971$1,674,166▲ $884,195
Permanently Rstr Net Assets$1,071,562$1,265,196▲ $193,634
Temporarily Rstr Net Assets$1,855,731$554,469▼ $1,301,262
Total Net Assets Fund Balance$3,717,264$3,493,831▼ $223,433
Total Liabilities and Net Assets / Fund Balance$3,737,291$3,616,844▼ $120,447

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$102,791--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$1,619,668$50,546▼ $46,396-$1,559,285
2015$1,842,648$33,362▲ $52,982-$1,619,668
2014$1,562,628$80,912▲ $279,465-$1,842,648
2013$1,389,591$86,997▲ $201,221-$1,562,628
2012$1,458,232$8,176▲ $7,931-$1,389,591
Compensation and Service Providers

Board Members and Trustees

NameTitle
Lowell StolteChair
Joel TrinkleVice Chair
Amy Diede MdBoard Member
Bernard KolnbergerBoard Member
Bob EricksonBoard Member
Clint SchultBoard Member
Emily Fox-williamsBoard Member
Kerry SutherlandBoard Member
Paul AndersonBoard Member
Scott ManwarrenBoard Member
Tolu AdeleyeBoard Member
Michelle KrenzkeFoundation Director
Ann BryeSecretary
Dale OlsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$716,375
Program Service Revenue
$0
Investment Income
$78,168
Other Revenue
$-11,105
All Other Contributions
$681,375
Change in Net Assets
$-47,635

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table40$395,812Fair Market Value (FMV)
Total Noncash Contributions40$395,812-

Audited Revenue Reconciliation

Revenue per Audited Statements
$788,820
Revenue Not Reported on Financial Statements
$-5,382
Revenue Not Reported on Form 990
$72,581
Other Revenue Adjustments
$-18,980
Total Revenue per Audited Statements
$861,401
Total Revenue per Form 990
$783,438
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$780,986
Other Expenses$50,087
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$468,579--$468,579
Grants to Domestic Individuals$312,407--$312,407
Fees for Services Accounting-$16,250-$16,250
Fees for Service Investment Mgmnt Fees-$13,598-$13,598
All Other Expenses-$6,552-$6,552
Insurance-$874-$874
Other Expenses-$321-$321
Conferences and Meetings-$106-$106
Total Functional Expenses$780,986$50,087$0$831,073

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$967,088
Total Expenses per Form 990$831,073
Expenses per Audited Statements$817,475
Expenses Not Reported on Form 990$149,613
Expenses Not Reported on Financial Statements$13,598
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Dakota County Technical CollegeRosemount, MN501(c) 3Program Equipment$58,939
Dakota county technical collegeRosemount, MN501(c) 3Financial Aid$13,828
Inver Hills Community CollegeInver Grove Hghts, MN501(c) 3Financial Aid-
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$18,980
Fundraising Gross Income$7,875
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
True Brew Gala$42,875$7,875$3,161$4,714
None$0$0$0$0
Total Events$42,875$7,875$18,980$-11,105
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$102,791
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 11B

Form 990 review process the form 990 is reviewed by management on behalf of the board before filing.

Part VI, Section B, Line 12

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 DCTC Foundation identify situations that present potential conflicts of interest and to provide DCTC 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, Line 19

GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS The DCTC Foundation provides its governing documents, conflict of interest policy and financial statements to the public as requested. This information is available through the Charities Review Council, smartgivers.org as well as guidestar.org and other public sources. The DCTC 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
Dakota County Technical College Foundation
EIN
41-1488605
In Care Of
% CHRIS HINRICHS
Phone
6514238236
Address
1300 145th St East, Rosemount, MN 55068

Signing Officer

Name
Lowell Stolte
Title
Board Chair
Phone
6514238230
Signed
2017-04-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lowell Stolte
Formed
1983
Legal Domicile
Mn
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
20

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

Part III, Line 2

Beginning in fiscal year 2016, the foundation accepted donations of equipment, which were then granted to dctc to further college programs.

Financial Statement Notes

Part XI, Line 4B

Reconciliation of revenue per audited financial statements with revenue per return: fundraising expenses netted against revenue ($18,980)

Part XII, Line 2D

Reconciliation of expenses per audited financial statements with expenses per return: fundraising expenses netted against revenue $18,980

Part X, Line 2

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.

Part V, Line 4

Endowment funds - intended uses of funds the foundation's endowment funds consist of eighteen individual funds established by both donors and the board, which were established so the earnings could provide support for various types of scholarships and other financial assistance to students of dctc.

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IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
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IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0THE DCTC FOUNDATION SERVES AND IS RESPONSIVE TO THE EVOLVING NEEDS OF DCTC'S MISSION OF EDUCATION FOR EMPLOYMENT AND THE LIVES OF ITS STUDENTS, FACULTY AND ADMINISTRATORS BY: STEWARDING A PORTFOLIO OF VALUED RESOURCES OF THE COLLEGE'S USE AND; ACTIVELY ENGAGING WITH COMMUNITY LEADERS, DONORS AND EMPLOYERS TO PROMOTE THE VALUES OF OUR INSTITUTION.
IRS990/MoreThan5000KToIndividualsInd0false
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IRS990/NetAssetsOrFundBalancesEOYAmt03493831
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IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-58052
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IRS990/NoncashContributionsAmt0395812
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IRS990/OfficeExpensesGrp/TotalAmt00
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0SERVICE AND ADMIN FEES
IRS990/OtherExpensesGrp/Desc1LOSS ON DISPOSAL OF SOFTWARE
IRS990/OtherExpensesGrp/Desc2MEMBERSHIPS
IRS990/OtherExpensesGrp/Desc3SOFTWARE
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt13300
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2940
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3321
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IRS990/PYBenefitsPaidToMembersAmt00
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.39$1.53$6.86$0.59$0.76$0.17
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.62$1.17$6.45$0.85$1.06$0.21
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.04$0.80$6.23$1.44$0.93$0.51
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.10$0.61$5.50$1.07$0.97$0.10
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.52$0.44$6.08$0.72$0.53$0.19
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.19$0.28$4.91$0.79$0.52$0.27
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.91$0.23$4.68$0.73$0.56$0.17
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.45$0.11$4.34$0.73$0.55$0.18
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.98$0.09$3.89$1.00$1.00$0.00
2016Detailed filing. Detailed filing data is available for this year.$3.62$0.12$3.49$0.78$0.83$0.05
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.74$0.02$3.72$0.87$1.20$0.33
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.05$0.02$4.03$0.84$0.59$0.26
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.43$0.02$3.41$0.78$0.57$0.21
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.11$0.03$3.08$0.34
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.20$0.03$3.17$0.32
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.42$0.00$2.42$0.44