Midlands Technical College Foundation Inc
- Assets
- $15.7m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Columbia, SC
- Founding
- 10/1970
- Data as of
- 06/2021
- EIN
- 23-7085753
Organization Overview
Midlands Technical College Foundation Inc is located in Columbia, SC. The organization was established in 1970. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midlands Technical 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 06/2021, Midlands Technical College Foundation Inc generated $2.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $1.1m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD MEANINGFUL RELATIONSHIPS WITH DONORS THAT LEAD TO GIFTS THAT SUPPORT THE MISSION OF MIDLANDS TECHNICAL COLLEGE TO PREPARE STUDENTS FOR SUCCESS IN THE WORKFORCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVISION OF SCHOLARSHIPS WHICH ASSIST STUDENTS WITH NEEDED FUNDS TO DEFRAY THE COST OF TUITION AT MIDLANDS TECHNICAL COLLEGE, NONE GREATER THAN 4,000.
ENHANCEMENTS IN SUPPORT OF MIDLANDS TECHNICAL COLLEGE PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Ronald L Rhames Ex Officio | OfficerTrustee | 1 | $107,870 |
James L Braun Chair | OfficerTrustee | 1 | $0 |
Judge Tomothy C Edmond Trustee | OfficerTrustee | 1 | $0 |
Carolyn R Ewing-Turner Secretary | OfficerTrustee | 1 | $0 |
Nancy L Mckinney CEO | OfficerTrustee | 40 | $0 |
Christian Stormer CPA Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,656,411 |
| Investment income | $264,066 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $474,936 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,395,413 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $475,994 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $100,889 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $189,781 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $3,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,400 |
| Fees for services: Lobbying | $59,936 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $81,532 |
| Fees for services: Other | $116,177 |
| Advertising and promotion | $14,814 |
| Office expenses | $5,384 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $635 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,138 |
| All other expenses | $0 |
| Total functional expenses | $1,121,832 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $178,095 |
| Pledges and grants receivable | $248,378 |
| Accounts receivable, net | $32,409 |
| 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 | $0 |
| Investments—publicly traded securities | $15,248,025 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,711,907 |
| Accounts payable and accrued expenses | $55,535 |
| 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 | $55,535 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $15,656,372 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Midlands Technical College Foundation Inc has recieved totaling $269,168.
| Awarding Organization | Amount |
|---|---|
The Blackbaud Giving Fund Charleston, SC PURPOSE: GENERAL SUPPORT | $123,334 |
The Blackbaud Giving Fund Charleston, SC PURPOSE: GENERAL SUPPORT | $123,334 |
Delta Dental Of Missouri St Louis, MO PURPOSE: General Support | $12,500 |
Vital Care Charitable Foundation Inc West Columbia, SC PURPOSE: FURTHERANCE OF CHARITABLE PURPOSE | $10,000 |
Endowment Analysis
| Beg. Balance | $11,680,405 |
| Earnings | -$1,005,141 |
| Net Contributions | $824,030 |
| Other Expense | $137,972 |
| Ending Balance | $11,361,322 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Webber International University Inc Babson Park, FL | $22,918,487 | $19,317,100 |
Emory University Decatur, GA | $5,794,825 | $19,416,810 |
Ave Maria School Of Law Naples, FL | $21,394,119 | $23,155,503 |
Ashley Hall Foundation Charleston, SC | $53,552,404 | $18,962,378 |
Langley School Inc Mclean, VA | $63,128,940 | $18,629,240 |
Duke Corporate Education Durham, NC | $27,489,390 | $18,675,614 |
Canterbury School Corporation Fort Myers, FL | $32,236,169 | $23,638,435 |
Trinity School Inc Atlanta, GA | $133,203,671 | $25,058,941 |
Fayetteville Area Health Education Foundation Inc Fayetteville, NC | $34,117,990 | $20,916,685 |
Miami Dade College Foundation Inc Miami, FL | $203,072,980 | $26,102,618 |
Wake County Smartstart Raleigh, NC | $3,415,796 | $19,658,248 |
Early Learning Coalition Of Marion County Inc Ocala, FL | $2,959,241 | $19,272,035 |