Gateway Technical College Foundation Inc
- Assets
- $21.2m
- Revenue
- $8.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Kenosha, WI
- Founding
- 02/1978
- Data as of
- 06/2021
- EIN
- 39-1290708
Organization Overview
Gateway Technical College Foundation Inc is located in Kenosha, WI. The organization was established in 1978. 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. Gateway 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, Gateway Technical College Foundation Inc generated $8.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 26.6% each year . All expenses for the organization totaled $2.0m during the year ending 06/2021. While expenses have increased by 13.2% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE GATEWAY TECHNICAL COLLEGE FOUNDATION SUPPORTS THE MISSION OF THE COLLEGE BY RAISING COMMUNITY AWARENESS AND FINANCIAL RESOURCES, BROADENING ITS BASE OF SUPPORT AND PROVIDING PROGRAMS SUCH AS SCHOLARSHIPS, GRANTS AND FUNDS FOR EDUCATIONAL GROWTH. THE FOUNDATION WILL ENHANCE THE COLLEGE'S TRADITION OF EXCELLENCE BY BEING RESPONSIVE TO ITS NEEDS AND STRENGTHENING THE VITALITY AND WELL-BEING OF THE DIVERSE COMMUNITIES IT SERVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS AND SCHOLARSHIPS AWARDED TO STUDENTS ATTENDING GATEWAY TECHNICAL COLLEGE TO FURTHER THEIR EDUCATION AND SUPPORT TO FURTHER THE EDUCATIONAL MISSION OF THE COLLEGE.THERE WERE 301 AWARDED IN 2018.
BUILDING AND CAPITAL FUNDING GRANTED TO THE COLLEGE STEM 101 CUSTOMIZED BUNDLE KIT-ROBOTICS GRANT. OTHER SUPPLIES, MARKETING, EVENTS AND MEETINGS
COLLEGE FOUNDATION DEPARTMENT THE PROJECT ALLOWS THE FOUNDATION TO CONTINUE ITS CHARITABLE AND EDUCATIONAL ACTIVITIES IN SUPPORT OF GATEWAY TECHNICAL COLLEGE BY FUNDING THE PROJECT. DISTRIBUTIONS FROM THE FUND SHALL BE MADE FOR PROGRAM NEEDS AND WILL BE MADE TO GATEWAY TECHNICAL COLLEGE, NON-PROFIT 501(C)3 ORGANIZATIONS OR GOVERNMENTAL AGENCIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John D Andreoli Treasurer | OfficerTrustee | 1 | $0 |
Mark Molinaro Jr Vice Chair | OfficerTrustee | 1 | $0 |
Georgann S Stinson Secretary | OfficerTrustee | 1 | $0 |
Michele Randall Chair. | OfficerTrustee | 1 | $0 |
Jane Kurylo Director | Trustee | 1 | $0 |
Amanda Falvey Director | Trustee | 1 | $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 | $7,622,560 |
| Noncash contributions included in lines 1a–1f | $682,618 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,622,560 |
| Total Program Service Revenue | $0 |
| Investment income | $883,179 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $98,357 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $128,065 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,732,161 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $550,197 |
| Grants and other assistance to domestic individuals. | $545,726 |
| 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 | $36,000 |
| 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 | $16,160 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $71,377 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,354 |
| Office expenses | $0 |
| 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 | $5,238 |
| All other expenses | $24,629 |
| Total functional expenses | $1,993,449 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $172,718 |
| Savings and temporary cash investments | $1,003,861 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,671 |
| 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 | $7,754 |
| Net Land, buildings, and equipment | $611,825 |
| Investments—publicly traded securities | $14,361,635 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,065,937 |
| Total assets | $21,229,401 |
| Accounts payable and accrued expenses | $25,947 |
| 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 | $108,398 |
| Total liabilities | $134,345 |
| Net assets without donor restrictions | $1,221,067 |
| Net assets with donor restrictions | $19,873,989 |
| 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 | $21,229,401 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Gateway Technical College Foundation Inc has recieved totaling $25,744.
| Awarding Organization | Amount |
|---|---|
The Charles And Dolores Zaionc Family Foundation Inc Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $15,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $7,500 |
1335 Foundation Chicago, IL PURPOSE: GENERAL OPERATIONS | $3,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $144 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $100 |
Endowment Analysis
| Beg. Balance | $9,530,136 |
| Earnings | $2,705,919 |
| Net Contributions | $657,899 |
| Grants | $628,577 |
| Ending Balance | $12,265,377 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Michigan State University Foundation East Lansing, MI | $535,425,307 | $55,850,938 |
University Of Northern Iowa Foundation Cedar Falls, IA | $173,378,893 | $31,725,389 |
Illinois State University Foundation Normal, IL | $269,993,016 | $34,747,700 |
National Assistance Foundation Des Moines, IA | $16,519,301 | $16,875,706 |
Southern Illinois University Foundation Carbondale, IL | $260,208,288 | $31,565,742 |
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 |
Northern Illinois University Foundation Dekalb, IL | $169,106,712 | $31,131,654 |
Grand Rapids Community College Foundation Grand Rapids, MI | $37,079,013 | $9,829,978 |
Christian Schools International Insurance Plan And Trust Fund Grandville, MI | $5,188,497 | $9,699,281 |
Saginaw Valley State University Foundation University Center, MI | $94,804,323 | $8,609,845 |