Foundation For Mott Community College
- Assets
- $9.9m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Flint, MI
- Founding
- 09/1986
- Data as of
- 06/2022
- EIN
- 38-2673057
Organization Overview
Foundation For Mott Community College is located in Flint, MI. The organization was established in 1986. 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. Foundation For Mott Community College 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, Foundation For Mott Community College generated $1.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $1.2m during the year ending 06/2022. While expenses have increased by 4.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
THE FOUNDATION FOR MOTT COMMUNITY COLLEGE IS A COMMUNITY BASED CHARITABLE ORGANIZATION WHOSE MAJOR PURPOSE IS TO ACQUIRE AND DISTRIBUTE RESOURCES TO THE STUDENTS, FACULTY, AND STAFF OF MOTT COMMUNITY COLLEGE, AS IT CONTRIBUTES TO EDUCATIONAL, LITERARY, MULTICULTURAL, AND FINANCIAL EFFORTS THAT ADVANCE EXCELLENCE AND RICHNESS TO THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GOAL OF THE FOUNDATION FOR MOTT COMMUNITY COLLEGE (FMCC) IS TO FULLY SUPPORT MOTT COMMUNITY COLLEGE (MCC) IN ITS QUEST FOR FINANCIAL STABILITY, AS IT PROVIDES HIGH QUALITY, ACCESSIBLE AND AFFORDABLE EDUCATIONAL OPPORTUNITIES FOR THE SURROUNDING CITIZENRY. MCC IS THE LARGEST AND MOST ECONOMICAL INSTITUTION IN THE REGION AND TRADITIONALLY RELIES ON PROPERTY TAXES, STATE APPROPRIATIONS AND TUITION TO DERIVE A BALANCED BUDGET WITH THE CREATION OF THE FMCC, A FOURTH FUNDING STREAM OF PRIVATE GIFTING IS ADDED TO THE FUNDING MIX. ALL FUNDRAISING EFFORTS ASSIST MCC IN FULFILLING ITS SCHOLARSHIP AND PROGRAMMATIC GOALS AS WELL AS PROVIDES EMERGENCY FUNDING FOR NONTRADITIONAL STUDENT CRISES. EACH FUNDRAISING OBJECTIVE THAT HAS BEEN DERIVED IS TO SUPPORT MCC AS A LEADING ENTITY IN THE REGION AND AS A VIABLE RESOURCE IN THE COLLEGE TOWN PARTNERSHIP. AS AN UNDER GUIDING PRINCIPLE, THE FMCC IS UNIQUELY POISED TO SUPPORT THE COLLEGE AS IT ALLOWS STUDENTS TO GAIN A SKILL, LAUNCH THE FIRST TWO YEARS OF A BACCALAUREATE, AND RETAIN THOSE WHO ALREADY HAVE A DEGREE AND ARE SEEKING AN ALTERNATIVE CAREER PATHWAY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Claude High Former Chair | OfficerTrustee | 0.5 | $0 |
Teresa Mcclelland-Sargent Chair | OfficerTrustee | 0.5 | $0 |
Jane Landaal 1st Vice Chair | OfficerTrustee | 0.5 | $0 |
Armando Hernandez Treasurer | OfficerTrustee | 0.5 | $0 |
Anthony Alexander 2nd Vice Chair | OfficerTrustee | 0.5 | $0 |
Lennetta B Coney President | Officer | 25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $22,245 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $526,372 |
| Noncash contributions included in lines 1a–1f | $5,280 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $548,617 |
| Total Program Service Revenue | $0 |
| Investment income | $908,943 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$390,629 |
| Net Income from Fundraising Events | -$21,927 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,045,004 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,095,814 |
| 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 | $7,954 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,521 |
| Fees for services: Other | $21,472 |
| Advertising and promotion | $0 |
| Office expenses | $20,057 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,020 |
| All other expenses | $0 |
| Total functional expenses | $1,210,241 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,766 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $120,264 |
| Accounts receivable, net | $89,929 |
| 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 | $4,038 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $9,571,663 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $86,565 |
| Total assets | $9,893,225 |
| Accounts payable and accrued expenses | $9,621 |
| Grants payable | $0 |
| Deferred revenue | $19,250 |
| 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 | $28,871 |
| Net assets without donor restrictions | $1,139,939 |
| Net assets with donor restrictions | $8,724,415 |
| 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 | $9,893,225 |
Grants Awarded
Over the last fiscal year, Foundation For Mott Community College has awarded $876,861 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
MOTT COMMUNITY COLLEGE PURPOSE: SCHOLARSHIP AND PROGRAM SUPPORT | $642,688 |
BEECHER SCHOLARSHIP INCENTIVE PROGRAM PURPOSE: SCHOLARSHIP PROGRAM | $196,526 |
FLINT RIVER FARM PURPOSE: PROGRAM SUPPORT & GENERAL SUPPORT | $37,647 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Foundation For Mott Community College has recieved totaling $250.
| Awarding Organization | Amount |
|---|---|
Ali And Nihaya Foundation Grand Blanc, MI PURPOSE: EDUCATIONAL | $250 |
Endowment Analysis
| Beg. Balance | $8,548,422 |
| Earnings | -$1,352,833 |
| Admin Expense | $40,207 |
| Net Contributions | $84,532 |
| Grants | $292,341 |
| Ending Balance | $6,947,573 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Youngstown State University Foundation Youngstown, OH | $318,269,128 | $38,933,738 |
Michigan State University Foundation East Lansing, MI | $535,425,307 | $55,850,938 |
Ivy Tech Foundation Inc Indianapolis, IN | $133,152,328 | $30,082,278 |
Kent State University Foundation Kent, OH | $245,939,628 | $27,886,498 |
University Of Akron Foundation Akron, OH | $205,506,114 | $14,662,521 |
School Employees Benefit Trust Cincinnati, OH | $16,584,284 | $19,989,967 |
Friends Of Breakthrough Schools Cleveland, OH | $75,617,435 | $14,315,646 |
University Research Park Inc Madison, WI | $162,117,796 | $19,527,506 |
Eastern Michigan University Foundation Ypsilanti, MI | $82,145,619 | $14,420,618 |
Michigan Tech Fund Houghton, MI | $217,061,508 | $42,674,434 |
Ers Strategic Properties Inc Rootstown, OH | $122,229,530 | $11,683,070 |
Cuyahoga Community College Foundati Cleveland, OH | $98,727,251 | $19,770,120 |