Civic Intelligence

Rochester Community & Technical College Foundation

990 • Fiscal year 2024 • EIN 41-1535213

Jul 01, 2023 to Jun 30, 2024 • Filed on Dec 19, 2024

851 30th Ave SERochester, MN 55904

(507) 281-7770

Siviq Scores

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

Liabilities / Assets

17th percentile

0.01x

Higher debt load relative to assets than 17% of similar nonprofits.

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

Liabilities / Revenue

29th percentile

0.06x

Higher debt load relative to revenue than 29% of similar nonprofits.

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

Net Margin

85th percentile

40%

Higher net margin than 85% of similar nonprofits.

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

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

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

Asset Growth

72nd percentile

14%

Faster asset growth than 72% of similar nonprofits.

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

Revenue Growth

42nd percentile

4.0%

Faster revenue growth than 42% of similar nonprofits.

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

Assets

Up

$9,126,240

Up $1,102,904 (+14%) from 2023

Net Assets

Up

$9,076,240

Up $1,201,213 (+15%) from 2023

Liabilities

Down

$50,000

Down $98,309 (-66%) from 2023

Revenue

Up

$859,698

Up $33,406 (+4.0%) from 2023

Expenses

Up

$519,324

Up $108,476 (+26%) from 2023

Net Income

Down

$340,374

Down $75,070 (-18%) from 2023

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2011: $4,508,669Liabilities 2011: $930,678Net Assets 2011: $3,577,9912011Assets 2012: $4,270,314Liabilities 2012: $824,117Net Assets 2012: $3,446,1972012Assets 2013: $4,352,934Liabilities 2013: $423,747Net Assets 2013: $3,929,1872013Assets 2014: $4,698,487Liabilities 2014: $57,220Net Assets 2014: $4,641,2672014Assets 2015: $4,625,210Liabilities 2015: $36,589Net Assets 2015: $4,588,6212015Assets 2016: $4,532,116Liabilities 2016: $67,988Net Assets 2016: $4,464,1282016Assets 2017: $5,078,573Liabilities 2017: $1,658Net Assets 2017: $5,076,9152017Assets 2018: $6,648,917Liabilities 2018: $6,302Net Assets 2018: $6,642,6152018Assets 2019: $6,876,581Liabilities 2019: $11,812Net Assets 2019: $6,864,7692019Assets 2020: $6,606,107Liabilities 2020: $308Net Assets 2020: $6,605,7992020Assets 2021: $8,182,183Liabilities 2021: $76,751Net Assets 2021: $8,105,4322021Assets 2022: $7,047,020Liabilities 2022: $186,542Net Assets 2022: $6,860,4782022Assets 2023: $8,023,336Liabilities 2023: $148,309Net Assets 2023: $7,875,0272023Assets 2024: $9,126,240Liabilities 2024: $50,000Net Assets 2024: $9,076,2402024Assets 2025: $10,227,347Liabilities 2025: $69,786Net Assets 2025: $10,157,5612025

Highlighted filing

2024

Assets$9,126,240
Liabilities$50,000
Net Assets$9,076,240

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0Expenses 2011: $394,4852011Expenses 2012: $441,6422012Revenue 2013: $584,256Expenses 2013: $391,834Net Income 2013: $192,4222013Revenue 2014: $531,853Expenses 2014: $379,010Net Income 2014: $152,8432014Revenue 2015: $506,419Expenses 2015: $379,085Net Income 2015: $127,3342015Revenue 2016: $547,489Expenses 2016: $385,404Net Income 2016: $162,0852016Revenue 2017: $894,100Expenses 2017: $416,189Net Income 2017: $477,9112017Revenue 2018: $1,875,666Expenses 2018: $443,505Net Income 2018: $1,432,1612018Revenue 2019: $615,585Expenses 2019: $526,391Net Income 2019: $89,1942019Revenue 2020: $650,592Expenses 2020: $511,903Net Income 2020: $138,6892020Revenue 2021: $532,863Expenses 2021: $468,311Net Income 2021: $64,5522021Revenue 2022: $894,764Expenses 2022: $375,197Net Income 2022: $519,5672022Revenue 2023: $826,292Expenses 2023: $410,848Net Income 2023: $415,4442023Revenue 2024: $859,698Expenses 2024: $519,324Net Income 2024: $340,3742024Revenue 2025: $1,024,437Expenses 2025: $631,509Net Income 2025: $392,9282025

Highlighted filing

2024

Revenue$859,698
Expenses$519,324
Net Income$340,374
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Dec 19, 2024
Return Version
2023v5.1
Gross Receipts
$869,465
Mission and Program Overview

Mission

Provide support to students and programs at rochester community techincal college, enhancing the quality of education and the future of our students. We do this by providing scholarships, hosting fundraising events, connecting alumni, and through our fundraising efforts for educational programs.

Rctc foundation improves the lives with the support of quality, affordable, accessible higher education. We raise funds to support scholarships, student basic needs, enhance quality academics, enrich campus life with athletics and arts, and make strategic investments in our students and college. Through active, ongoing campaigns to promote philanthropy in the community, the foundation aims to grow a diverse pool of resources sufficient to provide affordable education for all students, add value and excellence to the programs offered at rctc and help insulate the institution from future economic and political forces by helping to fill gaps in state funding. The foundation believes that no student should be turned away from rctc due to an inability to pay tuition.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$7,510,408$8,313,155▲ $802,747
Cash and Non-Interest-Bearing Accounts$437,520$811,658▲ $374,138
Pledges and Grants Receivable$16,873--
Prepaid Expenses and Deferred Charges$43,966$1,427▼ $42,539
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$8,023,336$9,126,240▲ $1,102,904
Other Assets Total$14,569--
Liabilities
Other Liabilities$142,015$50,000▼ $92,015
Accounts Payable and Accrued Expenses$6,294--
Total Liabilities$148,309$50,000▼ $98,309
Net Assets / Fund Balance
Net Assets With Donor Restrictions$7,797,109$8,935,509▲ $1,138,400
Net Assets Without Donor Restrictions$77,918$140,731▲ $62,813
Total Net Assets Fund Balance$7,875,027$9,076,240▲ $1,201,213
Total Liabilities and Net Assets / Fund Balance$8,023,336$9,126,240▲ $1,102,904

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$7,176$7,176

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$7,809,499$560,373▲ $972,175-$8,900,805
2023$6,757,667$557,967▲ $819,459-$7,809,499
2022$7,977,959$441,549▼ $1,381,158-$6,757,667
2021$6,481,086$142,436▲ $1,608,809-$7,977,959
2020$6,704,358$158,215▼ $10,092-$6,481,086
Compensation and Service Providers

Board Members and Trustees

NameTitle
Markus LangPresident
Alex BrainardVice President
Ally Hanten EbertDirector
Anthony ZuccoDirector
Ben TilsonDirector
Emily TaylorDirector
Heather DonovanDirector
Jeff EigenheerDirector
Laura SheehanDirector
Paulette TeigenDirector
Sara MessinaDirector
Thu ParkDirector
Zen KuzykDirector
Jonathan KrullSecretary
Alex LairTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$624,833
Program Service Revenue
$0
Investment Income
$237,275
Other Revenue
$-2,410
All Other Contributions
$573,398
Change in Net Assets
$340,374

Audited Revenue Reconciliation

Revenue per Audited Statements
$835,675
Revenue Not Reported on Financial Statements
$24,023
Revenue Not Reported on Form 990
$987,530
Total Revenue per Audited Statements
$1,823,205
Total Revenue per Form 990
$859,698
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$426,673
Other Expenses$92,651
Total Fundraising Expense$6,243
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$426,673--$426,673
Fees for Service Investment Mgmnt Fees-$24,023-$24,023
Fees for Services Management-$20,200-$20,200
Fees for Services Accounting-$17,850-$17,850
Office Expenses$4,858$10,495$1,094$16,447
Information Technology$5,739$480$5,149$11,368
Conferences and Meetings-$2,738-$2,738
Fees for Services Legal-$25-$25
Total Functional Expenses$437,270$75,811$6,243$519,324

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$723,908
Total Expenses per Form 990$519,324
Expenses per Audited Statements$495,301
Expenses Not Reported on Form 990$228,607
Expenses Not Reported on Financial Statements$24,023
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$9,767
Fundraising Gross Income$7,357
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Oaks Event Dinner$58,792$7,357$9,767$-2,410
Total Events$58,792$7,357$9,767$-2,410
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Funds, Equipment & Supplies Held for the Benefit of Others$50,000
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

Prior to filing form 990, it is reviewed by the foundation treasurer with a summary of form 990 presented to the foundation board of directors during a monthly meeting. Copies of form 990 are made available to each board member.

Form 990, Part VI, Section B, Line 12C

All conflicts of interest are not necessarily prohibited or harmful to the rctc foundation. However, full disclosure of all actual and potential conflicts, and a determination by the disinterested board (or rctc foundation's executive committee) members - with the interested board member(s) recused from participating in debates and voting on the matter - are required. All actual and potential conflicts of interests shall be disclosed by board members to the rctc foundation executive committee through an annual disclosure form and/or to the board whenever a conflict arises. Disinterested members of the rctc foundation executive committee shall make a determination as to whether a prohibited conflict exists and what subsequent action is appropriate (if any). The rctc foundation executive committee shall inform the board of such determination and action. The board shall retain the right to modify or reverse such determination and action and shall retain the ultimate enforcement authority with respect to the interpretation and application of this policy . On an annual basis, all board members shall be provided with a copy of this policy and required to complete and sign the acknowledgement and disclosure form below. All complete forms shall be provided to and reviewed by the rctc foundation executive committee, as well as all other conflict information, if any, provided by board members.

Form 990, Part VI, Section C, Line 18

Interested persons are encouraged to reach out to the foundation office for a copy of the forms.

Form 990, Part VI, Section C, Line 19

The public is encouraged to contact the foundation in person to request documentation.

Filing and Contact Details

Filer

Filer Name
Rochester Community and Technical
EIN
41-1535213
Phone
5072817770
Address
851 30TH AVE SE, ROCHESTER, MN 55904

Signing Officer

Name
Alex Brainard
Title
President
Phone
5072817770
Signed
2024-12-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alex Brainard
Formed
1961
Legal Domicile
Mn
Voting Board Members
15
Independent Board Members
15
Employees
0
Volunteers
95

Preparer

Firm
Hawkins Ash Cpas Llp
Address
3720 NOTTINGHAM DR NW SUITE 100, ROCHESTER, MN 55901
Preparer
David Fochs
Phone
5074241233
Supplemental Narrative

Additional Explanations

Form 990, Part V, Line 7H

Rochester community and technical college foundation receives contributions of cars for which they issue 1098-c's. These car contributions are held for the benefit of another organization and therefore is not reported as contribution revenue.

Form 990, Part XII, Line 2C

The organization did not change the oversight and selection process from the prior tax year.

Financial Statement Notes

PART X, LINE 2:

Accounting for uncertainty in income taxes - u.s. Gaap requires management to evaluate tax positions taken by the foundation and recognize a tax liability (or asset) if the foundation has taken an uncertain position that more likely than not would not be sustained upon examination by a taxing authority. Management has analyzed the tax positions taken by the foundation and has concluded that as of june 30, 2024 and 2023, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The foundation is subject to routine audits by taxing jurisdictions, however, there are currently no audits in progress for any tax period. The foundation will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if incurred.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

FUNDRAISING

PART XII, LINE 2D - OTHER ADJUSTMENTS:

FUNDRAISING

Part V, Line 4

Rochester community and technical college foundation has endowment funds to provide scholarships and support to students and programs at rochester community and technical college.

Part X, Line 2

The foundation is exempt from federal income taxes as a tax-exempt organization described in section 501(c)(3) of the internal revenue code, except for income on certain unrelated business income. At june 30, 2024 there is no material amount of unrelated business income. The foundation is also exempt from state income taxes under applicable minnesota statutes.

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IRS990/ActivityOrMissionDesc0RCTC FOUNDATION IMPROVES THE LIVES WITH THE SUPPORT OF QUALITY, AFFORDABLE, ACCESSIBLE HIGHER EDUCATION. WE RAISE FUNDS TO SUPPORT SCHOLARSHIPS, STUDENT BASIC NEEDS, ENHANCE QUALITY ACADEMICS, ENRICH CAMPUS LIFE WITH ATHLETICS AND ARTS, AND MAKE STRATEGIC INVESTMENTS IN OUR STUDENTS AND COLLEGE. THROUGH ACTIVE, ONGOING CAMPAIGNS TO PROMOTE PHILANTHROPY IN THE COMMUNITY, THE FOUNDATION AIMS TO GROW A DIVERSE POOL OF RESOURCES SUFFICIENT TO PROVIDE AFFORDABLE EDUCATION FOR ALL STUDENTS, ADD VALUE AND EXCELLENCE TO THE PROGRAMS OFFERED AT RCTC AND HELP INSULATE THE INSTITUTION FROM FUTURE ECONOMIC AND POLITICAL FORCES BY HELPING TO FILL GAPS IN STATE FUNDING. THE FOUNDATION BELIEVES THAT NO STUDENT SHOULD BE TURNED AWAY FROM RCTC DUE TO AN INABILITY TO PAY TUITION.
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IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
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IRS990/MinutesOfCommitteesInd01
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IRS990/OperateHospitalInd00
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IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/PrincipalOfficerNm0ALEX BRAINARD
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IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0ROCHESTER COMMUNITY AND TECHNICAL COLLEGE FOUNDATION INVESTS IN PROGRAMS TO DELIVERY HIGH QUALITY EDUCATION AND TO HELP OUR STUDENTS SUCCEED. THIS INCLUDES GRANTS TO EMPOWER FACULTY AND STAFF TO EXPAND AND ENHANCE QUALITY EDUCATION AND SUPPORTING STUDENT BASIC NEEDS (FOOD PANTRY, EMERGENCY GRANTS, EMERGENCY MENTAL HEALTH COUNSELLING). IN ADDITION, WE SUPPORT A VIBRANT COLLEGE EXPERIENCE THROUGH SUPPORT FOR ATHLETICS, FINE ARTS AND STUDENT CLUB ACTIVITIES.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt055859
IRS990/ProgSrvcAccomActy2Grp/GrantAmt054269
IRS990/ProgSrvcAccomActy3Grp/Desc0ROCHESTER COMMUNITY AND TECHNICAL COLLEGE FOUNDATION PROVIDES STUDENT HANDS ON LEARNING. GIFTS-IN-KIND OF PROGRAM EQUIPMENT AND SUPPLIES ASSIST STUDENTS IN HANDS-ON LEARNING AND ENSURE STUDENTS ARE "WORK-READY" WITH ACCESS TO THE LATEST TECHNOLOGY IN THE WORKPLACE.
IRS990/ProhibitedTaxShelterTransInd00
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IRS990/PYTotalProfFndrsngExpnsAmt00
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IRS990/QuidProQuoContributionsInd00
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IRS990/RegularMonitoringEnfrcInd01
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IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0302184
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0219439
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02238615
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0237275
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0231537
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0407564
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0204078
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0178687
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01259141
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.63520
IRS990ScheduleA/PublicSupportPY170Pct00.57710
IRS990ScheduleA/PublicSupportTotal170Amt02238615
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0624833
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0604959
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0487200
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0302184
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0219439
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02238615
IRS990ScheduleA/TotalSupportAmt03524357
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearMinus3YearsAmt026601
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt026601
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0560373
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt08900805
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0441242
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0972175
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt06757667
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0557967
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt07809499
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt0325594
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0819459
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IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0441549
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IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt06481086
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IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01608809
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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0158215
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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt0371395
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IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt07176
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IRS990ScheduleD/ExpensesNotRptFinclStmtAmt024023
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/InvestmentExpensesNotIncldAmt024023
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0758923
IRS990ScheduleD/OtherExpensesIncludedAmt09767
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt050000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0FUNDS, EQUIPMENT & SUPPLIES HELD FOR THE BENEFIT OF OTHERS
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IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.65000
IRS990ScheduleD/RevenueNotReportedAmt0987530
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt024023
IRS990ScheduleD/RevenueSubtotalAmt0835675
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES - U.S. GAAP REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE FOUNDATION AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE FOUNDATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY A TAXING AUTHORITY. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION AND HAS CONCLUDED THAT AS OF JUNE 30, 2024 AND 2023, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS, HOWEVER, THERE ARE CURRENTLY NO AUDITS IN PROGRESS FOR ANY TAX PERIOD. THE FOUNDATION WILL RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FUNDRAISING
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FUNDRAISING
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3ROCHESTER COMMUNITY AND TECHNICAL COLLEGE FOUNDATION HAS ENDOWMENT FUNDS TO PROVIDE SCHOLARSHIPS AND SUPPORT TO STUDENTS AND PROGRAMS AT ROCHESTER COMMUNITY AND TECHNICAL COLLEGE.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt4THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES AS A TAX-EXEMPT ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT FOR INCOME ON CERTAIN UNRELATED BUSINESS INCOME. AT JUNE 30, 2024 THERE IS NO MATERIAL AMOUNT OF UNRELATED BUSINESS INCOME. THE FOUNDATION IS ALSO EXEMPT FROM STATE INCOME TAXES UNDER APPLICABLE MINNESOTA STATUTES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3PART V, LINE 4
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc4PART X, LINE 2
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.35000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0519324
IRS990ScheduleD/TotalLiabilityAmt050000
IRS990ScheduleD/TotalRevenuePerForm990Amt0859698
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01823205
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0723908
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt051435
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt051435

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$10.2$0.07$10.2$1.02$0.63$0.39
2024Detailed filing. Detailed filing data is available for this year.$9.13$0.05$9.08$0.86$0.52$0.34
2023Detailed filing. Detailed filing data is available for this year.$8.02$0.15$7.88$0.83$0.41$0.42
2022Detailed filing. Detailed filing data is available for this year.$7.05$0.19$6.86$0.89$0.38$0.52
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.18$0.08$8.11$0.53$0.47$0.06
2020Detailed filing. Detailed filing data is available for this year.$6.61$0.00$6.61$0.65$0.51$0.14
2019Detailed filing. Detailed filing data is available for this year.$6.88$0.01$6.86$0.62$0.53$0.09
2018Detailed filing. Detailed filing data is available for this year.$6.65$0.01$6.64$1.88$0.44$1.43
2017Detailed filing. Detailed filing data is available for this year.$5.08$0.00$5.08$0.89$0.42$0.48
2016Detailed filing. Detailed filing data is available for this year.$4.53$0.07$4.46$0.55$0.39$0.16
2015Detailed filing. Detailed filing data is available for this year.$4.63$0.04$4.59$0.51$0.38$0.13
2014Detailed filing. Detailed filing data is available for this year.$4.70$0.06$4.64$0.53$0.38$0.15
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.35$0.42$3.93$0.58$0.39$0.19
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.27$0.82$3.45$0.44
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.51$0.93$3.58$0.39
Peer Organizations

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