Civic Intelligence

Dakota County Technical College Foundation

990 • Fiscal year 2017 • EIN 41-1488605

Jul 01, 2016 to Jun 30, 2017 • Filed on Jan 20, 2018

Organization ProfileWWW.DCTC.EDU/ABOUT-US/FOUNDATION
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

33rd percentile

0.02x

Higher debt load relative to assets than 33% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

49th percentile

0.09x

Higher debt load relative to revenue than 49% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

38th percentile

-0.4%

Higher net margin than 38% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

46th percentile

$54,204

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 5.4% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

68th percentile

10.0%

Faster asset growth than 68% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

78th percentile

27%

Faster revenue growth than 78% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Up

$3,977,867

Up $361,023 (+10.0%) from 2016

Net Assets

Up

$3,885,576

Up $391,745 (+11%) from 2016

Liabilities

Down

$92,291

Down $30,722 (-25%) from 2016

Revenue And Expenses
Liabilities / Revenue49th percentileNet Margin38th percentile

Revenue

Up

$997,449

Up $214,011 (+27%) from 2016

Expenses

Up

$1,001,808

Up $170,735 (+21%) from 2016

Net Income

Up

-$4,359

Up $43,276 (+91%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth68th percentile

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

2017

Assets$3,977,867
Liabilities$92,291
Net Assets$3,885,576
Open 2017 Filing

Operations Trend

Revenue Growth78th percentile

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

2017

Revenue$997,449
Expenses$1,001,808
Net Income-$4,359
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Jan 20, 2018
Return Version
2016v3.1
Gross Receipts
$1,099,918
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.

Utilize board strengths and community connections to influence dctc in maintaining relevancy & attracting & retaining students while supporting their resource & financial needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,380,716$1,600,404▲ $219,688
Cash and Non-Interest-Bearing Accounts$371,240$320,705▼ $50,535
Savings and Temporary Cash Investments$253,358$254,627▲ $1,269
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
Land, Buildings, and Equipment, Net$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$3,616,844$3,977,867▲ $361,023
Other Assets Total$1,611,530$1,802,131▲ $190,601
Liabilities
Other Liabilities$102,791$81,791▼ $21,000
Deferred Revenue$13,500$10,500▼ $3,000
Accounts Payable and Accrued Expenses$6,722$0▼ $6,722
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$123,013$92,291▼ $30,722
Net Assets / Fund Balance
Unrestricted Net Assets$1,674,166$2,017,216▲ $343,050
Permanently Rstr Net Assets$1,265,196$1,275,262▲ $10,066
Temporarily Rstr Net Assets$554,469$593,098▲ $38,629
Total Net Assets Fund Balance$3,493,831$3,885,576▲ $391,745
Total Liabilities and Net Assets / Fund Balance$3,616,844$3,977,867▲ $361,023

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$81,791--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$1,559,285$10,117▲ $213,706-$1,720,339
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
Compensation and Service Providers
Top Officer Pay46th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Michelle BoeFoundation DirectorFT$54,204$54,204

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
Nick SchindeleMember
RYAN O'GARAMember
Stephen EngelMember
Ann ByreSecretary
Dale OlsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$926,045
Program Service Revenue
$0
Investment Income
$82,091
Other Revenue
$-10,687
All Other Contributions
$892,604
Change in Net Assets
$-4,359

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 Table53$701,207Fair Market Value (FMV)
Total Noncash Contributions53$701,207-

Audited Revenue Reconciliation

Revenue per Audited Statements
$998,527
Revenue Not Reported on Financial Statements
$-1,078
Revenue Not Reported on Form 990
$518,294
Other Revenue Adjustments
$-18,177
Total Revenue per Audited Statements
$1,516,821
Total Revenue per Form 990
$997,449
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$934,329
Other Expenses$67,479
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$747,296--$747,296
Grants to Domestic Individuals$187,033--$187,033
Fees for Service Investment Mgmnt Fees-$17,099-$17,099
Fees for Services Accounting-$12,745-$12,745
Conferences and Meetings-$8,379-$8,379
Insurance-$1,187-$1,187
Other Expenses-$216$0$216
Total Functional Expenses$934,329$67,479$0$1,001,808

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,125,076
Total Expenses per Form 990$1,001,808
Expenses per Audited Statements$984,709
Expenses Not Reported on Form 990$140,367
Expenses Not Reported on Financial Statements$17,099
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Dakota County Technical College-501(c)3-$38,825
Dakota County Technical College-501(c)3-$7,264
Inver Hills Community College-501(c)3--
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$18,177
Fundraising Gross Income$7,490
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
True Brew Gala$40,931$7,490$2,365$5,125
Total Events$40,931$7,490$18,177$-10,687
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$81,791
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

“The form 990 is reviewed by management on behalf of the board before filing.”

Part VI, Section B, Line 12

“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

“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 Colleges and Universities system (Minnesota State), 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
2018-01-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lowell Stolte
Formed
1983
Legal Domicile
Mn
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
20

Preparer

Firm
Schechter Dokken Kanter
Address
100 WASHINGTON AVE SO 1600, MINNEAPOLIS, MN 55401-2192
Preparer
Charles Selcer CPA
Phone
6123325500
Supplemental Narrative

Additional Explanations

Part XI, Line 5

“Net unrealized gain on investments $396,104”

Foundation Compensation

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

Financial Statement Notes

Part XI, Line 4B

“Reconciliation of revenue per audited financial statements with revenue per return: fundraising expenses netted against revenue ($18,177)”

Part XII, Line 2D

“Reconciliation of expenses per audited financial statements with expenses per return: fundraising expenses netted against revenue $18,177”

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/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.
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Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,977,867
Liabilities
$92,291
Net assets
$3,885,576
Revenue
$997,449
Expenses
$1,001,808
Net income
-$4,359
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
2017Detailed filing. Detailed filing data is available for this year.$3.98$0.09$3.89$1.00$1.00$0.00
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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