Civic Intelligence

Montgomery College Foundation Inc.

990 • Fiscal year 2016 • EIN 52-1267008

Jul 01, 2015 to Jun 30, 2016 • Filed on Mar 17, 2017

Organization ProfileMONTGOMERYCOLLEGE.EDU/FOUNDATION
40 West Gude Drive No 220Rockville, MD 20850

(240) 567-7381

Siviq Scores

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

Liabilities / Assets

77th percentile

0.68x

Higher debt load relative to assets than 77% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Liabilities / Revenue

96th percentile

10.12x

Higher debt load relative to revenue than 96% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Net Margin

80th percentile

15%

Higher net margin than 80% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Top Officer Pay

7th percentile

$163,185

Higher top officer pay than 7% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Asset Growth

49th percentile

1.4%

Faster asset growth than 49% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Revenue Growth

33rd percentile

-2.1%

Faster revenue growth than 33% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$101,620,524

Up $1,417,627 (+1.4%) from 2015

Net Assets

Up

$32,241,973

Up $1,272,737 (+4.1%) from 2015

Liabilities

Up

$69,378,551

Up $144,890 (+0.2%) from 2015

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin80th percentile

Revenue

Down

$6,856,496

Down $144,241 (-2.1%) from 2015

Expenses

Down

$5,832,918

Down $5,128,130 (-47%) from 2015

Net Income

Up

$1,023,578

Up $4,983,889 (+126%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth49th percentile

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

$150M$100M$50M$0Assets 2011: $79,923,589Liabilities 2011: $49,329,198Net Assets 2011: $30,594,3912011Assets 2012: $92,473,217Liabilities 2012: $63,684,174Net Assets 2012: $28,789,0432012Assets 2013: $92,841,668Liabilities 2013: $61,509,573Net Assets 2013: $31,332,0952013Assets 2014: $95,499,219Liabilities 2014: $59,569,290Net Assets 2014: $35,929,9292014Assets 2015: $100,202,897Liabilities 2015: $69,233,661Net Assets 2015: $30,969,2362015Assets 2016: $101,620,524Liabilities 2016: $69,378,551Net Assets 2016: $32,241,9732016Assets 2017: $126,554,999Liabilities 2017: $92,617,062Net Assets 2017: $33,937,9372017Assets 2018: $122,235,832Liabilities 2018: $86,867,705Net Assets 2018: $35,368,1272018Assets 2019: $120,180,620Liabilities 2019: $83,627,308Net Assets 2019: $36,553,3122019Assets 2020: $116,484,013Liabilities 2020: $78,611,869Net Assets 2020: $37,872,1442020Assets 2021: $122,079,819Liabilities 2021: $74,891,448Net Assets 2021: $47,188,3712021Assets 2022: $114,232,820Liabilities 2022: $72,624,742Net Assets 2022: $41,608,0782022Assets 2023: $110,856,344Liabilities 2023: $66,592,519Net Assets 2023: $44,263,8252023Assets 2024: $113,406,253Liabilities 2024: $62,524,000Net Assets 2024: $50,882,2532024

Highlighted filing

2016

Assets$101,620,524
Liabilities$69,378,551
Net Assets$32,241,973
Open 2016 Filing

Operations Trend

Revenue Growth33rd percentile

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

$15M$10M$5.0M$0-$5.0MExpenses 2011: $4,526,5932011Expenses 2012: $5,486,4112012Expenses 2013: $4,991,6172013Revenue 2014: $10,115,296Expenses 2014: $5,311,298Net Income 2014: $4,803,9982014Revenue 2015: $7,000,737Expenses 2015: $10,961,048Net Income 2015: -$3,960,3112015Revenue 2016: $6,856,496Expenses 2016: $5,832,918Net Income 2016: $1,023,5782016Revenue 2017: $6,403,407Expenses 2017: $6,507,273Net Income 2017: -$103,8662017Revenue 2018: $7,997,707Expenses 2018: $7,519,065Net Income 2018: $478,6422018Revenue 2019: $8,143,793Expenses 2019: $7,009,939Net Income 2019: $1,133,8542019Revenue 2020: $10,001,256Expenses 2020: $7,483,657Net Income 2020: $2,517,5992020Revenue 2021: $9,683,948Expenses 2021: $6,857,023Net Income 2021: $2,826,9252021Revenue 2022: $9,502,498Expenses 2022: $6,343,229Net Income 2022: $3,159,2692022Revenue 2023: $7,471,758Expenses 2023: $7,246,628Net Income 2023: $225,1302023Revenue 2024: $12,591,323Expenses 2024: $6,977,348Net Income 2024: $5,613,9752024

Highlighted filing

2016

Revenue$6,856,496
Expenses$5,832,918
Net Income$1,023,578
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Mar 17, 2017
Return Version
2015v3.0
Gross Receipts
$13,138,991
Mission and Program Overview

Mission

Montgomery college foundation provides critical financial and non-financial resources in advancing the montgomery college mission to transform student lives and enrich the diverse communities it serves.

The organization supports the educational activities of montgomery college.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$24,868,244$25,623,023▲ $754,779
Savings and Temporary Cash Investments$17,996,149$12,198,253▼ $5,797,896
Pledges and Grants Receivable$2,641,590$2,869,061▲ $227,471
Land, Buildings, and Equipment, Net$2,750,000$2,750,000→ $0
Cash and Non-Interest-Bearing Accounts$616,488$666,579▲ $50,091
Accounts Receivable$39,843$482,539▲ $442,696
Prepaid Expenses and Deferred Charges$24,991$5,000▼ $19,991
Total Assets$100,202,897$101,620,524▲ $1,417,627
Other Assets Total$51,265,592$57,026,069▲ $5,760,477
Liabilities
Tax Exempt Bond Liabilities$56,655,000$61,815,000▲ $5,160,000
Mortgage Notes Payable Secured by Investment Property$7,280,000--
Other Liabilities$4,766,102$4,550,943▼ $215,159
Accounts Payable and Accrued Expenses$532,559$3,012,608▲ $2,480,049
Total Liabilities$69,233,661$69,378,551▲ $144,890
Net Assets / Fund Balance
Permanently Rstr Net Assets$19,760,607$21,158,441▲ $1,397,834
Temporarily Rstr Net Assets$9,584,933$9,520,168▼ $64,765
Unrestricted Net Assets$1,623,696$1,563,364▼ $60,332
Total Net Assets Fund Balance$30,969,236$32,241,973▲ $1,272,737
Total Liabilities and Net Assets / Fund Balance$100,202,897$101,620,524▲ $1,417,627

Asset Categories

AssetBook ValueDepreciationBasis
Land$2,750,000-$2,750,000
Other Assets Org$7,912,563--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$22,434,562$1,769,671▲ $664,695$1,031,711$23,837,217
2014$22,375,605$1,015,067▲ $39,326$995,436$22,434,562
2013$19,469,692$983,397▲ $2,809,706$887,190$22,375,605
2012$17,637,021$746,697▲ $1,925,074$839,100$19,469,692
2011$17,776,600$815,338▼ $226,462$728,455$17,637,021
Compensation and Service Providers
Top Officer Pay7th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Carol RognrudExecutive DirectorFT$145,743$17,442$163,185
Donna M PinaFinancial DirectorFT$121,167$26,604$147,771

Board Members and Trustees

NameTitle
Martin P ColburnChairman
Douglas M FirstenbergPast Chair
Kenneth H BeckerVice Chair
Alexander Rm BoyleDirector
Anne L GunsteensDirector
Catherine F ScottDirector
Christopher J WhiteDirector
Erica L WebberDirector
Erica a Leatham EsqDirector
Jstephen Mcauliffe Iii EsqDirector
Kenneth C CookDirector
Linda a YoungentobDirector
M Jerome LeonardDirector
Michael YuenDirector
Morgan H SullivanDirector
Mr Vira SafaiDirector
Ms Susan L WilderDirector
R William HardDirector
Roberta F ShulmanDirector
Samuel M SpiritosDirector
W Gregory WimsDirector
Sally E RudneyFormer Director
Michael S PaukstitusTreasurer, Director
Jeffrey Z SlavinMayor
Revenue and Support

Revenue Composition

Contributions and Grants
$4,398,908
Program Service Revenue
$0
Investment Income
$2,455,945
Other Revenue
$1,643
All Other Contributions
$3,862,828
Change in Net Assets
$1,023,578

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
Securities Publicly Traded7$80,786Average of High/low Fair Market Value (FMV)
Works of Art2$47,754-
Other Non Cash Contri Table5$14,773Donor Value
Other Non Cash Contri Table3$7,453Donor Value
Clothing and Household Goods-$2,885Donor Value
Other Non Cash Contri Table3$2,318Donor Value
Cars and Other Vehicles1$1,270Donor Value
Other Non Cash Contri Table1$1,000Donor Value
Books and Publications-$573Donor Value
Total Noncash Contributions22$158,812-

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,816,195
Revenue Not Reported on Financial Statements
$40,301
Revenue Not Reported on Form 990
$796,202
Other Revenue Adjustments
$40,301
Total Revenue per Audited Statements
$7,612,397
Total Revenue per Form 990
$6,856,496
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$3,558,901
Other Expenses$2,274,017
Total Fundraising Expense$196,564
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$2,423,593--$2,423,593
Interest$1,858,141--$1,858,141
Grants to Domestic Orgs$1,135,308--$1,135,308
Office Expenses-$27,186$196,564$223,750
Fees for Service Investment Mgmnt Fees-$81,907-$81,907
Depreciation Depletion-$35,614-$35,614
Fees for Services Legal-$27,762-$27,762
Fees for Services Accounting-$19,600-$19,600
Fees for Services Other-$12,203-$12,203
Insurance-$7,192-$7,192
Conferences and Meetings-$1,144-$1,144
Other Expenses-$406-$406
Total Functional Expenses$5,417,042$219,312$196,564$5,832,918

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,339,660
Total Expenses per Form 990$5,832,918
Expenses per Audited Statements$5,792,617
Expenses Not Reported on Form 990$547,043
Expenses Not Reported on Financial Statements$40,301
Other Expense Adjustments$40,301
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Montgomery CollegeRockville, MD170(b)(1)(a)(iv)General Support$1,054,674
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$108,500
Fundraising Gross Income$74,181
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Scholarship Luncheon$117,251-$27,580-
Golf Tournament$112,015$51,640$64,623$-12,983
Total Events$251,707$74,081$108,500$-34,419
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Unamortized Bond Premium$3,427,757
Annuities Payable$1,123,186

Bond Issues

BondIssuerIssuedIssue PricePurpose
CMontgomery County Revenue Authority2015-06-23$29,666,104SERIES 2015 BONDS
BMontgomery County Revenue Authority2014-11-19$24,765,089SERIES 2014 BONDS
AMontgomery County Revenue Authority2011-08-01$6,988,453SERIES 2011A BONDS

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
C$29,666,104--$457,813
B$24,765,089--$380,345
A$6,988,453--$372,750

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Kenneth cook and stephen mcauliffe have a business relationship.”

Form 990, Part VI, Section B, Line 11

“The 990 is reviewed by foundation finance staff. Questions and proposed changes are then discussed with the foundation's auditors, and appropriate revisions are made. Foundation finance staff and the foundation's auditors then meet with the foundation's governance/audit committee to review the 990. Changes, if any, are incorporated into the 990 which is then presented to the foundation executive committee for review and recommendation to the foundation board for approval prior to submission. Changes, if any, are incorporated into the 990 which is then presented to the foundation board for review and final approval prior to submission.”

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

“On an annual basis, foundation board members are required to sign a conflict of interest policy statement. In the statement, each member is required to list any potential conflicts. In addition, members recuse themselves from voting on issues where a potential conflict exists.”

Form 990, Part VI, Section C, Line 19

“The foundation makes documents available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Montgomery College Foundation Inc
EIN
52-1267008
Phone
2405677381
Address
40 WEST GUDE DRIVE NO 220, ROCKVILLE, MD 20850

Signing Officer

Name
Carol Rognrud
Title
Executive Director
Phone
2405677381
Signed
2017-03-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carol Rognrud
Formed
1982
Legal Domicile
Md
Voting Board Members
24
Independent Board Members
24
Employees
0
Volunteers
65

Preparer

Firm
Cliftonlarsonallen Llp
Address
1966 GREENSPRING DRIVE, TIMONIUM, MD 21093-4161
Preparer
Tricia Katebini
Phone
4104530900
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

“Endowment funds are used to provide scholarships for students or support for college programs.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Special event expense 108,402.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Realized deferred revenue 40,301.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Special event expense 108,402.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Realized deferred revenue 40,301.”

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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/Desc0SCHOLARSHIPS - THIS YEAR THE MONTGOMERY COLLEGE FOUNDATION WAS ABLE TO DISTRIBUTE MORE THAN $2.4 MILLION IN SCHOLARSHIP AID TO 2,035 STUDENTS. THIS WOULD NOT HAVE BEEN POSSIBLE WITHOUT THE GENEROSITY AND VISION OF OUR DONORS, WHO RECOGNIZE THAT EDUCATION IS THE KEY TO LIFTING INDIVIDUALS AND FAMILIES OUT OF POVERTY, WHICH IS THE GREATEST BARRIER TO A COLLEGE DEGREE. THROUGH THE GENEROSITY OF OUR DONORS, THE FOUNDATION HAS SUPPORTED NUMEROUS PROGRAMS INCLUDING OUR COMMUNITY-CHANGING ACHIEVING COLLEGIATE EXCELLENCE AND SUCCESS (ACES) PROGRAM, WHICH IS DESIGNED TO REACH THE MOST VULNERABLE STUDENTS IN OUR COMMUNITY - INCLUDING FIRST GENERATION, AFRICAN AMERICAN, HISPANIC, AS WELL AS THOSE WHO WILL BE THE FIRST IN THEIR FAMILY TO ATTEND COLLEGE. THIS FORWARD-THINKING PROGRAM PROVIDES COACHING SUPPORT TO STUDENTS WHO HAVE BOTH THE DESIRE AND THE CAPACITY TO PURSUE A COLLEGE DEGREE WHILE THEY ARE STILL IN AREA HIGH SCHOOLS IN ORDER TO PREPARE THEM TO ATTEND MONTGOMERY COLLEGE AND, ULTIMATELY, TO RECEIVE THEIR BACHELOR'S DEGREE. OUR FACULTY AND STAFF ARE DEDICATED TO ENSURING THE COLLEGE FULFILLS ITS MISSION, WHICH IS TO EMPOWER OUR STUDENTS TO CHANGE THEIR LIVES AND ENRICH THE LIFE OF OUR COMMUNITY, AND WE THANK OUR DONORS WHO MAKE THIS POSSIBLE.
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt110
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt120
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt130
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt140
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt150
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt210
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt220
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt230
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IRS990/Form990PartVIISectionAGrp/PersonNm1MARTIN P COLBURN
IRS990/Form990PartVIISectionAGrp/PersonNm2KENNETH C COOK
IRS990/Form990PartVIISectionAGrp/PersonNm3DOUGLAS M FIRSTENBERG
IRS990/Form990PartVIISectionAGrp/PersonNm4R WILLIAM HARD
IRS990/Form990PartVIISectionAGrp/PersonNm5JSTEPHEN MCAULIFFE III ESQ
IRS990/Form990PartVIISectionAGrp/PersonNm6W GREGORY WIMS
IRS990/Form990PartVIISectionAGrp/PersonNm7ANNE L GUNSTEENS
IRS990/Form990PartVIISectionAGrp/PersonNm8MICHAEL S PAUKSTITUS
IRS990/Form990PartVIISectionAGrp/PersonNm9MICHAEL YUEN
IRS990/Form990PartVIISectionAGrp/PersonNm10ROBERTA F SHULMAN
IRS990/Form990PartVIISectionAGrp/PersonNm11MR VIRA SAFAI
IRS990/Form990PartVIISectionAGrp/PersonNm12ERICA L WEBBER
IRS990/Form990PartVIISectionAGrp/PersonNm13CHRISTOPHER J WHITE
IRS990/Form990PartVIISectionAGrp/PersonNm14SALLY E RUDNEY
IRS990/Form990PartVIISectionAGrp/PersonNm15CATHERINE F SCOTT
IRS990/Form990PartVIISectionAGrp/PersonNm16JEFFREY Z SLAVIN
IRS990/Form990PartVIISectionAGrp/PersonNm17M JEROME LEONARD
IRS990/Form990PartVIISectionAGrp/PersonNm18MORGAN H SULLIVAN
IRS990/Form990PartVIISectionAGrp/PersonNm19LINDA A YOUNGENTOB
IRS990/Form990PartVIISectionAGrp/PersonNm20ERICA A LEATHAM ESQ
IRS990/Form990PartVIISectionAGrp/PersonNm21MS SUSAN L WILDER
IRS990/Form990PartVIISectionAGrp/PersonNm22ALEXANDER RM BOYLE
IRS990/Form990PartVIISectionAGrp/PersonNm23SAMUEL M SPIRITOS
IRS990/Form990PartVIISectionAGrp/PersonNm24DONNA M PINA
IRS990/Form990PartVIISectionAGrp/PersonNm25CAROL ROGNRUD
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt190
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt200
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt210
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt220
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt230
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt24121167
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt25145743
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt190
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt200
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt210
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt220
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt230
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt240
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt250
IRS990/Form990PartVIISectionAGrp/TitleTxt0VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3PAST CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8TREASURER, DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14FORMER DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16MAYOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24FINANCIAL DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25EXECUTIVE DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01982
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolAndSepBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd01
IRS990/FundraisingAmt0177526
IRS990/FundraisingDirectExpensesAmt0108500
IRS990/FundraisingGrossIncomeAmt074181
IRS990/GainOrLossGrp/SecuritiesAmt0-21084
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt024
IRS990/GovernmentGrantsAmt0358554
IRS990/GrantAmt02414585
IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt02423593
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt02423593
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt01135308
IRS990/GrantsToDomesticOrgsGrp/TotalAmt01135308
IRS990/GrantsToIndividualsInd01
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt06152911
IRS990/GrossReceiptsAmt013138991
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt024
IRS990/IndivRcvdGreaterThan100KCnt02
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt07192
IRS990/InsuranceGrp/TotalAmt07192
IRS990/InterestGrp/ProgramServicesAmt01858141
IRS990/InterestGrp/TotalAmt01858141
IRS990/InvestmentIncomeGrp/ExclusionAmt02477029
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt02477029
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt024868244
IRS990/InvestmentsPubTradedSecGrp/EOYAmt025623023
IRS990/InvestTaxExemptBondsInd00
IRS990/IRPDocumentCnt06
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipBasisNetGrp/BOYAmt02750000
IRS990/LandBldgEquipBasisNetGrp/EOYAmt02750000
IRS990/LandBldgEquipCostOrOtherBssAmt02750000
IRS990/LegalDomicileStateCd0MD
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt06173995
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE ORGANIZATION SUPPORTS THE EDUCATIONAL ACTIVITIES OF MONTGOMERY COLLEGE, LOCATED IN MONTGOMERY COUNTY, MARYLAND, BY PROVIDING RESOURCES FOR THE COLLEGE TO EXPAND AND ENHANCE ITS CONTRIBUTIONS TO THE COMMUNITY.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt07280000
IRS990/NetAssetsOrFundBalancesBOYAmt030969236
IRS990/NetAssetsOrFundBalancesEOYAmt032241973
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0-21084
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-21084
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt0-34319
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt0-34319
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0249159
IRS990/NoncashContributionsAmt0158811
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/FundraisingAmt0196564
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt027186
IRS990/OfficeExpensesGrp/TotalAmt0223750
IRS990/OfficerMailingAddressInd00
IRS990/OnBehalfOfIssuerInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt051265592
IRS990/OtherAssetsTotalGrp/EOYAmt057026069
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0LICENSES & FEES
IRS990/OtherExpensesGrp/Desc1AWARDS & REFRESHMENTS
IRS990/OtherExpensesGrp/Desc2MEMBERSHIPS AND SUBSRIP
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt03713
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12585
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2406
IRS990/OtherExpensesGrp/TotalAmt03713
IRS990/OtherExpensesGrp/TotalAmt12585
IRS990/OtherExpensesGrp/TotalAmt2406
IRS990/OtherLiabilitiesGrp/BOYAmt04766102
IRS990/OtherLiabilitiesGrp/EOYAmt04550943
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt019760607
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt021158441
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt02641590
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt02869061
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt024991
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt05000
IRS990/PrincipalOfficerNm0CAROL ROGNRUD
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0FACILITIES EXPANSION SUPPORT - THE PURPOSE OF THE FOUNDATION IS TO RAISE FUNDS FOR THE BENEFIT OF AND TO OTHERWISE SUPPORT MONTGOMERY COLLEGE. IN ADDITION, THE FOUNDATION BORROWS FUNDS ON BEHALF OF THE COLLEGE TO PURCHASE REAL ESTATE FOR THE USE OF THE COLLEGE OR OTHERWISE IN FURTHERANCE OF THE COLLEGE'S MISSION. THE FOUNDATION HAS PROVIDED ASSISTANCE TO THE COLLEGE THROUGH A SERIES OF MUNICIPAL BOND OFFERINGS. THROUGH THESE PROJECTS, THE COLLEGE HAS BEEN ABLE TO BUILD A PARKING GARAGE, PURCHASE A BUILDING FOR OFFICES AND CLASSROOMS AND REMODEL A BUILDING TO CREATE AN ART CENTER. IN ADDITION TO THE INTEREST EXPENSE PAID TO THE BOND HOLDERS IN FY15, THE FOUNDATION INCURRED $4.5 MILLION IN NOTE SAVINGS BY REFINANCING THE BONDS RELATED TO THESE CAPITAL EXPANSION PROJECTS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt01867149
IRS990/ProgSrvcAccomActy2Grp/GrantAmt09008
IRS990/ProgSrvcAccomActy3Grp/Desc0STUDENT AND FACULTY SUPPORT - WE RAISED $1,131,743 FROM GRANTS SUPPORTING A VARIETY OF ACADEMIC PROGRAMS THAT REFLECT THE TALENTS AND INTERESTS OF MONTGOMERY COLLEGE'S STUDENT BODY INCLUDING, BUT NOT LIMITED TO, OUR GLOBAL HUMANITIES INSTITUTE (GHI), OUR HILLMAN ENTREPRENEURS PROGRAM AND OUR MACKLIN BUSINESS INSTITUTE (MBI). GHI WAS CREATED TO ENSURE OUR CURRICULA ARE DEVELOPED WITH A GLOBAL PERSPECTIVE IN ORDER TO PREPARE OUR STUDENTS FOR THE NEEDS OF TODAY'S EMPLOYERS. THIS PROGRAM WAS LAUNCHED AFTER WE SECURED A PRESTIGIOUS CHALLENGE GRANT FROM THE NATIONAL ENDOWMENT FOR THE HUMANITIES, WHICH LED TO THE COLLEGE EMBARKING ON A $1 MILLION FUNDRAISING CAMPAIGN. THE HILLMAN ENTREPRENEURS PROGRAM IS A SCHOLARSHIP INITIATIVE DESIGNED TO EDUCATE OUR STUDENTS WHO HAVE AN INTEREST IN ENTREPRENEURSHIP AND AN ENTHUSIASM FOR STARTING A BUSINESS VENTURE OR LEADING A COMPANY. THE GOAL OF THIS INNOVATIVE PROGRAM IS TO SUPPORT, DEVELOP, AND GRADUATE ETHICAL LEADERS WHO WANT TO ENERGIZE AND GIVE BACK TO THEIR LOCAL COMMUNITIES. ADDITIONALLY, OUR MACKLIN BUSINESS INSTITUTE PROVIDES ITS BUSINESS STUDENTS WITH AN EXPERIENTIAL LEARNING PROGRAM, PROVIDING A HANDS-ON EXPERIENCE IN THE BUSINESS WORLD WITHIN OUR COMMUNITY. BY COUPLING REAL-LIFE EXPERIENCE WITH WHAT STUDENTS ARE LEARNING IN BUSINESS CLASSES, MBI STUDENTS ARE OFTEN BETTER PREPARED TO SUCCEED WHEN THEY TRANSFER TO TOP BUSINESS SCHOOLS.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt01122743
IRS990/ProgSrvcAccomActy3Grp/GrantAmt01122743
IRS990/ProgSrvcAccomActyOtherGrp/Desc0STUDENT ATHLETICS - GRANT TO THE MONTGOMERY COLLEGE ATHLETIC DEPARTMENT FOR CERTAIN EXPENSES INCURRED DURING THE YEAR.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt012565
IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt012565
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt03571099
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt03279458
IRS990/PYInvestmentIncomeAmt03404226
IRS990/PYOtherExpensesAmt07681590
IRS990/PYOtherRevenueAmt025412
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-3960311
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt010961048
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt07000737
IRS990/QuidProQuoContributionsInd01
IRS990/QuidProQuoContriDisclInd01
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt01023578
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$101,620,524
Liabilities
$69,378,551
Net assets
$32,241,973
Revenue
$6,856,496
Expenses
$5,832,918
Net income
$1,023,578
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$113$62.5$50.9$12.6$6.98$5.61
2023Detailed filing. Detailed filing data is available for this year.$111$66.6$44.3$7.47$7.25$0.23
2022Detailed filing. Detailed filing data is available for this year.$114$72.6$41.6$9.50$6.34$3.16
2021Detailed filing. Detailed filing data is available for this year.$122$74.9$47.2$9.68$6.86$2.83
2020Detailed filing. Detailed filing data is available for this year.$116$78.6$37.9$10.0$7.48$2.52
2019Detailed filing. Detailed filing data is available for this year.$120$83.6$36.6$8.14$7.01$1.13
2018Detailed filing. Detailed filing data is available for this year.$122$86.9$35.4$8.00$7.52$0.48
2017Detailed filing. Detailed filing data is available for this year.$127$92.6$33.9$6.40$6.51$0.10
2016Detailed filing. Detailed filing data is available for this year.$102$69.4$32.2$6.86$5.83$1.02
2015Detailed filing. Detailed filing data is available for this year.$100$69.2$31.0$7.00$11.0$3.96
2014Detailed filing. Detailed filing data is available for this year.$95.5$59.6$35.9$10.1$5.31$4.80
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$92.8$61.5$31.3$4.99
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$92.5$63.7$28.8$5.49
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$79.9$49.3$30.6$4.53