South Central College Foundation
- Assets
- $4.6m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 1
- Location
- North Mankato, MN
- Founding
- 03/1990
- Data as of
- 06/2023
- EIN
- 41-1649572
Organization Overview
South Central College Foundation is located in North Mankato, MN. The organization was established in 1990. 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. South Central College Foundation 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 06/2023, South Central College Foundation generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $1.1m during the year ending 06/2023. While expenses have increased by 7.6% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO HOLD, INVEST, OR EXPEND DONATIONS FOR THE DEVELOPMENT OF EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SCHOLARSHIPS TO STUDENTS ATTENDING SOUTH CENTRAL COLLEGE AND TO ASSIST THE COLLEGE IN DEVELOPING EDUCATIONAL PROGRAMS FOR ITS STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Mayo President | OfficerTrustee | 1 | $0 |
Pam Lehrke Vice President | OfficerTrustee | 1 | $0 |
Daniel R Sarff Secretary | OfficerTrustee | 1 | $0 |
Duane Olenius Treasurer | OfficerTrustee | 1 | $0 |
Jo Guck Bailey Director | Trustee | 1 | $0 |
Michael Bresnahan Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $103,644 |
| Related organizations | $0 |
| Government grants | $112,243 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,356,741 |
| Noncash contributions included in lines 1a–1f | $124,861 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,572,628 |
| Total Program Service Revenue | $0 |
| Investment income | $72,513 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$5,767 |
| Net Income from Fundraising Events | -$11,954 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,627,420 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $476,535 |
| Grants and other assistance to domestic individuals. | $378,789 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $122,670 |
| Compensation of current officers, directors, key employees. | $122,670 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,295 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,783 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $16,227 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,696 |
| Office expenses | $4,830 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,000 |
| Travel | $1,587 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,418 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,064,874 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $532,243 |
| Savings and temporary cash investments | $150,000 |
| Pledges and grants receivable | $1,234,967 |
| Accounts receivable, net | $20,395 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,615,611 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,553,216 |
| Accounts payable and accrued expenses | $67,843 |
| 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 | $67,843 |
| Net assets without donor restrictions | $1,022,667 |
| Net assets with donor restrictions | $3,462,706 |
| 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 | $4,553,216 |