Civic Intelligence

The Hennepin Technical College Foundation

990 • Fiscal year 2017 • EIN 41-1943149

Jul 01, 2016 to Jun 30, 2017 • Filed on Feb 22, 2018

Organization ProfileWWW.HENNEPINTECH.EDU/ALUMNI
9000 Brooklyn BlvdBrooklyn Park, MN 55445

(763) 488-2426

Siviq Scores

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

Liabilities / Assets

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

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

Liabilities / Revenue

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

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

Net Margin

24th percentile

-7.3%

Higher net margin than 24% of similar nonprofits.

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

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.

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

Asset Growth

54th percentile

4.4%

Faster asset growth than 54% of similar nonprofits.

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

Revenue Growth

5th percentile

-45%

Faster revenue growth than 5% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets14th percentile

Assets

Up

$1,707,218

Up $72,412 (+4.4%) from 2016

Net Assets

Up

$1,707,218

Up $72,412 (+4.4%) from 2016

Liabilities

Flat

$0

Flat from 2016

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin24th percentile

Revenue

Down

$877,409

Down $730,480 (-45%) from 2016

Expenses

Down

$941,602

Down $561,590 (-37%) from 2016

Net Income

Down

-$64,193

Down $168,890 (-161%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth54th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $1,030,669Liabilities 2011: $0Net Assets 2011: $1,030,6692011Assets 2012: $1,158,484Liabilities 2012: $0Net Assets 2012: $1,158,4842012Assets 2013: $1,305,833Liabilities 2013: $0Net Assets 2013: $1,305,8332013Assets 2014: $1,502,933Liabilities 2014: $6,000Net Assets 2014: $1,496,9332014Assets 2015: $1,566,173Liabilities 2015: $0Net Assets 2015: $1,566,1732015Assets 2016: $1,634,806Liabilities 2016: $0Net Assets 2016: $1,634,8062016Assets 2017: $1,707,218Liabilities 2017: $0Net Assets 2017: $1,707,2182017Assets 2018: $1,910,859Liabilities 2018: $0Net Assets 2018: $1,910,8592018Assets 2019: $2,353,634Liabilities 2019: $0Net Assets 2019: $2,353,6342019Assets 2020: $2,561,165Liabilities 2020: $94,958Net Assets 2020: $2,466,2072020Assets 2021: $3,022,858Liabilities 2021: $0Net Assets 2021: $3,022,8582021Assets 2022: $2,482,365Liabilities 2022: $8,107Net Assets 2022: $2,474,2582022Assets 2023: $2,872,932Liabilities 2023: $167,541Net Assets 2023: $2,705,3912023Assets 2024: $2,882,721Liabilities 2024: $0Net Assets 2024: $2,882,7212024Assets 2025: $2,955,801Liabilities 2025: $23,401Net Assets 2025: $2,932,4002025

Highlighted filing

2017

Assets$1,707,218
Liabilities$0
Net Assets$1,707,218
Open 2017 Filing

Operations Trend

Revenue Growth5th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $326,0712011Expenses 2012: $327,3382012Expenses 2013: $717,2222013Revenue 2014: $1,430,933Expenses 2014: $1,239,833Net Income 2014: $191,1002014Revenue 2015: $2,005,945Expenses 2015: $1,936,705Net Income 2015: $69,2402015Revenue 2016: $1,607,889Expenses 2016: $1,503,192Net Income 2016: $104,6972016Revenue 2017: $877,409Expenses 2017: $941,602Net Income 2017: -$64,1932017Revenue 2018: $1,037,229Expenses 2018: $903,029Net Income 2018: $134,2002018Revenue 2019: $1,397,759Expenses 2019: $989,069Net Income 2019: $408,6902019Revenue 2020: $1,421,964Expenses 2020: $1,265,537Net Income 2020: $156,4272020Revenue 2021: $952,026Expenses 2021: $706,186Net Income 2021: $245,8402021Revenue 2022: $1,171,808Expenses 2022: $1,446,340Net Income 2022: -$274,5322022Revenue 2023: $1,938,154Expenses 2023: $1,807,355Net Income 2023: $130,7992023Revenue 2024: $1,709,517Expenses 2024: $1,687,084Net Income 2024: $22,4332024Revenue 2025: $1,977,153Expenses 2025: $2,107,011Net Income 2025: -$129,8582025

Highlighted filing

2017

Revenue$877,409
Expenses$941,602
Net Income-$64,193
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Feb 22, 2018
Return Version
2016v3.0
Gross Receipts
$897,777
Mission and Program Overview

Mission

Advancement of education at hennepin technical college

Support the mission of hennepin technical college through scholarships, grants and program activities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$1,023,504$1,123,971▲ $100,467
Cash and Non-Interest-Bearing Accounts$611,302$583,247▼ $28,055
Total Assets$1,634,806$1,707,218▲ $72,412
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Permanently Rstr Net Assets$942,735$1,047,434▲ $104,699
Unrestricted Net Assets$394,199$428,183▲ $33,984
Temporarily Rstr Net Assets$297,872$231,601▼ $66,271
Total Net Assets Fund Balance$1,634,806$1,707,218▲ $72,412
Total Liabilities and Net Assets / Fund Balance$1,634,806$1,707,218▲ $72,412

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$1,123,971--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$942,735$0▲ $142,333-$1,047,534
2015$952,110$5,326▼ $8,626-$942,735
2014$910,375$49,133▲ $29,885-$952,110
2013$767,194$43,033▲ $129,820-$910,375
2012$651,586$57,874▲ $89,100-$767,194
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Myron MoserPresident
Will ClarkeVice President
Annette LundDirector
Bob WardDirector
Brad ThorpeDirector
Don GamborniDirector
Don TomannDirector
Eldon TessmanDirector
Ernie ParkerDirector
John TurrittinDirector
Judy FesenmaeirDirector
Larry HrubyDirector
Marty WojciechowskiDirector
Mitchell DejongDirector
Patricia AndersenDirector
Ros MooreDirector
Tim FarleyDirector
Barry SorensenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$862,415
Program Service Revenue
$0
Investment Income
$18,543
Other Revenue
$-3,549
All Other Contributions
$736,610
Change in Net Assets
$-64,193

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 Table17$167,644Estimated Fair Market Value (FMV)
Other Non Cash Contri Table35$165,507Estimated Fair Market Value (FMV)
Other Non Cash Contri Table19$150,515Estimated Fair Market Value (FMV)
Total Noncash Contributions71$483,666-

Audited Revenue Reconciliation

Revenue per Audited Statements
$873,030
Revenue Not Reported on Financial Statements
$4,379
Revenue Not Reported on Form 990
$156,973
Total Revenue per Audited Statements
$1,030,003
Total Revenue per Form 990
$877,409
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$889,246
Other Expenses$52,356
Total Fundraising Expense$9,592
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$483,666--$483,666
Grants to Domestic Individuals$405,580--$405,580
Other Expenses$24,218-$8,313$32,531
Fees for Services Other$4,795$2,013$1,279$8,087
Fees for Services Accounting-$7,359-$7,359
Fees for Service Investment Mgmnt Fees-$4,379-$4,379
Total Functional Expenses$918,259$13,751$9,592$941,602

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$957,591
Total Expenses per Form 990$941,602
Expenses per Audited Statements$937,223
Expenses Not Reported on Form 990$20,368
Expenses Not Reported on Financial Statements$4,379
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Hennepin Technical CollegeBrooklyn Park, MNGovt EntityAssist With Education$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$18,898
Fundraising Gross Income$11,819
Gaming Gross Income$5,000
Gaming Direct Expenses$1,470
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Dinner and Auction$137,624$11,819$9,266$2,553
Total Events$137,624$11,819$18,898$-7,079
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
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 A, Line 8B

“The organization does not have any committees that have authority to act on behalf of the governing body.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is prepared by an independent accounting firm with information provided during the annual audit of the financial statements. The form 990 is presented to the treasurer and then to the full board for approval prior to filing with the irs.”

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

“The foundation's conflict of interest policy covers directors, officers, and the immediate family members of its directors and officers. The foundation does not engage in a transaction where a potential conflict of interest exists unless the material facts as to the contract or transaction and as to the interest of the director(s) or officer(s) are fully disclosed or known to the board of directors, and the board of directors authorizes, approves, or ratifies the contract or transaction in good faith by the affirmative vote of a majority of the directors not counting any vote that the interested director or officer in determining the presence of a quorum.”

Form 990, Part VI, Section C, Line 19

“The foundation makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Hennepin Technical College Foundation
EIN
41-1943149
Phone
7634882426
Address
9000 BROOKLYN BLVD, BROOKLYN PARK, MN 55445

Signing Officer

Name
Barry Sorenson
Title
Treasurer
Phone
7634882426
Signed
2018-02-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Barry Sorenson
Formed
1998
Legal Domicile
Mn
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
20

Preparer

Firm
Cliftonlarsonallen Llp
Address
220 SOUTH SIXTH STREET SUITE 300, MINNEAPOLIS, MN 55402
Preparer
Deirdre Hodgson
Phone
6123764500
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

“The foundation's permanently restricted net assets consist of endowments which are gifts that are intended to support the donor's intentions and the foundation's mission for current and future generations. The gift is invested and the income generated is used to fund the donor's intentions. When the endowment is established, the donor shall designate whether the income is used toward a specific program (restricted) or unrestricted if no designation. Regardless of the use of the income, the principal shall remain intact and be recorded as a permanently restricted net asset. The foundation has two main objectives in managing its endowments funds: (1) to preserve the purchasing power of the assets, (2) to maintain a consistent and reasonable level of income.”

PART X, LINE 2:

“The foundation has a tax-exempt status under section 501(c)(3) of the internal revenue code. The foundation's income tax returns are subject to review and examination by the u.s. Federal, state, and local authorities. The foundation is not aware of any activities that are subject to unrelated business income, excise or other taxes or any activity that may jeopardize its tax exempt status.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Special event expenses 20,368.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Special event expenses 20,368.”

Raw XML AppendixShowing 400 of 616 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
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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
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
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IRS990/NetIncomeFromGamingGrp/ExclusionAmt03530
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IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherExpensesGrp/Desc0MISCELLANEOUS
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IRS990/OtherExpensesGrp/ProgramServicesAmt024218
IRS990/OtherExpensesGrp/TotalAmt032531
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt0942735
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt01047434
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0BARRY SORENSON
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0SCHOLARSHIPS AND GRANTS: PROVIDE SCHOLARSHIPS AND GRANTS TO STUDENTS BASED ON NEED
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0434593
IRS990/ProgSrvcAccomActy2Grp/GrantAmt0405580
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt00
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IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt01503192
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01607889
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-64193
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt00
IRS990ScheduleA/CollegeOrganizationInd0X
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0729861
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IRS990ScheduleA/PublicSupportCY170Pct00.83610
IRS990ScheduleA/PublicSupportPY170Pct00.82620
IRS990ScheduleA/PublicSupportTotal170Amt05396272
IRS990ScheduleA/SubstantialContributorsTotAmt0970268
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IRS990ScheduleA/TotalSupportAmt06454452
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt00
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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt024250
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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
$1,707,218
Liabilities
$0
Net assets
$1,707,218
Revenue
$877,409
Expenses
$941,602
Net income
-$64,193
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.96$0.02$2.93$1.98$2.11$0.13
2024Summary only. Only limited summary data is available for this year.$2.88$0.00$2.88$1.71$1.69$0.02
2023Summary only. Only limited summary data is available for this year.$2.87$0.17$2.71$1.94$1.81$0.13
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.48$0.01$2.47$1.17$1.45$0.27
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.02$0.00$3.02$0.95$0.71$0.25
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.56$0.09$2.47$1.42$1.27$0.16
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.35$0.00$2.35$1.40$0.99$0.41
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.91$0.00$1.91$1.04$0.90$0.13
2017Detailed filing. Detailed filing data is available for this year.$1.71$0.00$1.71$0.88$0.94$0.06
2016Detailed filing. Detailed filing data is available for this year.$1.63$0.00$1.63$1.61$1.50$0.10
2015Detailed filing. Detailed filing data is available for this year.$1.57$0.00$1.57$2.01$1.94$0.07
2014Detailed filing. Detailed filing data is available for this year.$1.50$0.01$1.50$1.43$1.24$0.19
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.31$0.00$1.31$0.72
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.16$0.00$1.16$0.33
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.03$0.00$1.03$0.33
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2017 filings • 501(c)3 • $1M-$5M nonprofits