Manchester Community College Foundation Inc
- Assets
- $15.9m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Manchester, CT
- Founding
- 10/1968
- Data as of
- 06/2022
- EIN
- 06-6105971
Organization Overview
Manchester Community College Foundation Inc is located in Manchester, CT. The organization was established in 1968. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Manchester Community College Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Manchester Community College Foundation Inc generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $1.4m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
MCCF ASSISTS MCC IN ACHIEVING ITS MISSION THROUGH SUPPORT OF PROGRAMS, SCHOLARSHIPS AND EQUIPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MCC FOUNDATION PROVIDES FINANCIAL SUPPORT TO THE STUDENTS OF MCC THROUGH EDUCATIONAL MERIT AND FINANCIALLY BASED SCHOLARSHIPS. THE MCC FOUNDATION TYPICALLY GRANTS OVER $350,000 PER YEAR TO MORE THAN 500 STUDENTS WHO SUBMIT APPLICATIONS FOR ASSISTANCE FOR THEIR EDUCATIONAL PURSUITS.THE FOUNDATION PROVIDES SUPPORT TO MAINTAIN THE LEVEL OF EXCELLENCE OF MANCHESTER COMMUNITY COLLEGE PROGRAMS. MCC FOUNDATION SUPPORTS MCC PROGRAMS SUCH AS CULINARY ARTS AND HOSPITALITY, FINE ARTS, ALLIED HEALTH, ENGINEERING AND TECHNOLOGY, AND MANY OTHERS. FUNDING BOLSTERS PROGRAMS WITH RESOURCES TO PROVIDE EXCELLENT EDUCATIONAL EXPERIENCES AND TRAINING THAT PREPARES STUDENTS TO ENTER THE WORKFORCE WITH THE KNOWLEDGE AND INSTRUCTION THAT EMPLOYERS REQUIRE FOR TODAY AND THE FUTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yvonne M Martin Vice President | OfficerTrustee | 2 | $0 |
Peter Grose President | OfficerTrustee | 2 | $0 |
Bethany Silver Secretary | OfficerTrustee | 2 | $0 |
Michael B Lynch Jr Treasurer | OfficerTrustee | 2 | $0 |
Thomas Reynolds Dean Of Institutional Adva | Officer | 35 | $0 |
Tj Benoit Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $565,030 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $565,030 |
| Total Program Service Revenue | $0 |
| Investment income | $438,343 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $550,981 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,554,354 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,215,216 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $61,251 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $55,862 |
| Fees for services: Other | $0 |
| Advertising and promotion | $51,066 |
| Office expenses | $27,992 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $360 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,527 |
| All other expenses | $6,345 |
| Total functional expenses | $1,421,619 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $218,730 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $87,873 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $8,147 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $15,582,393 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,897,143 |
| Accounts payable and accrued expenses | $20,118 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $20,118 |
| Net assets without donor restrictions | $11,428,719 |
| Net assets with donor restrictions | $4,448,306 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $15,897,143 |
Grants Awarded
Over the last fiscal year, Manchester Community College Foundation Inc has awarded $503,264 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MANCHESTER COMMUNITY COLLEGE PURPOSE: TO FURTHER THE MISSION OF MANCHESTER COMMUNITY COLLEGE | $413,305 |
MANCHESTER COMMUNITY COLLEGE PURPOSE: TO FURTHER THE MISSION OF MANCHESTER COMMUNITY COLLEGE | $89,959 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Manchester Community College Foundation Inc has recieved totaling $110,557.
| Awarding Organization | Amount |
|---|---|
Hartford Foundation For Public Giving Hartford, CT PURPOSE: SCHOLARSHIPS | $50,000 |
Paul L Jones Fund Waterbury, CT PURPOSE: SCHOLARSHIPS | $40,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $10,302 |
American Gift Fund Wilmington, DE PURPOSE: OPERATIONS | $10,000 |
Pfizer Foundation Inc New York, NY PURPOSE: MATCHING GIFTS | $250 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Endowment Analysis
| Beg. Balance | $18,755,752 |
| Earnings | -$2,195,772 |
| Net Contributions | $1,392,726 |
| Other Expense | $2,370,433 |
| Ending Balance | $15,582,393 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hunter College Foundation Inc New York, NY | $144,509,988 | $37,248,838 |
The American Friends Of Winchester College New York, NY | $259,900 | $15,435,931 |
Friends Of@ascend Charter Schools Inc Brooklyn, NY | $51,013,536 | $16,135,870 |
Equitable Facilities Fund Inc New York, NY | $843,754,758 | $34,535,002 |
Dudley Square Realty Corporation Boston, MA | $98,074,702 | $123 |
Auxiliary Campus Enterprises And Services State University College Alfred, NY | $11,814,689 | $16,740,654 |
College Of Staten Island Auxiliary Services Corp Inc Staten Island, NY | $62,695,629 | $9,780,570 |
American Friends Of The National Gallery London Inc New York, NY | $305,852,204 | $2,300,126 |
Auxiliary Services Corporation Of Suny Cortland Cortland, NY | $19,099,097 | $10,450,642 |
The Roosevelt Institute New York, NY | $39,947,474 | $14,561,739 |
Empire Commons Student Housing Inc Albany, NY | $47,889,992 | $16,000,956 |
Prep For Prep New York, NY | $67,702,952 | $11,458,262 |