St Cloud Technical And Community College Foundation
- Assets
- $4.2m
- Revenue
- $586.4k
- Investments
- $97.9k
- Employees
- 0
- Location
- St Cloud, MN
- Founding
- 03/1995
- Data as of
- 06/2022
- EIN
- 41-1791598
Organization Overview
St Cloud Technical And Community College Foundation is located in St Cloud, MN. The organization was established in 1995. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. St Cloud Technical And Community 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 06/2022, St Cloud Technical And Community College Foundation generated $586.4k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $506.3k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (2.5%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT ALL PEOPLE, PROGRAMS, AND INFRASTRUCTURES THAT ARE STRATEGIC PRIORITIES OF THE COLLEGE BY SECURING THE NECESSARY COMMUNITY AND FINANCIAL RESOURCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ST CLOUD TECHNICAL AND COMMUNITY COLLEGE FOUNDATION (THE FOUNDATION) EXISTS TO SUPPORT THE ST CLOUD TECHNICAL AND COMMUNITY COLLEGE (THE COLLEGE) BY SUPPORTING STUDENTS AND PROGRAMS. WE SUPPORT THE COLLEGE THROUGH CAPITAL, TECHNOLOGY, AND EQUIPMENT NEEDS FOR VARIOUS PROGRAMS. THE FOUNDATION AWARDED OVER 300 SCHOLARSHIPS TO STUDENTS IN THE LAST FISCAL YEAR. WORKFORCE DEVELOPMENT SCHOLARSHIPS- THE FOUNDATION BOARD RAISED AND SECURED $15,000 THIS PAST YEAR WHICH WAS A MATCH FOR THE WORKFORCE DEVELOPMENT PROGRAM. MINNESOTA LEGISLATURE CREATED THE "WORKFORCE DEVELOPMENT SCHOLARSHIP" PROGRAM AND ALLOCATED FUNDS TO MN STATE COLLEGES. COLLEGE FOUNDATIONS WERE REQUIRED TO RAISE 10% MATCHING FUNDS FOR SCHOLARSHIPS FOR HIGH DEMAND OCCUPATIONAL PROGRAMS SET BY THE STATE OF MINNESOTA. THE ELIGIBLE PROGRAMS/GROUPS ARE ADVANCED MANUFACTURING, EARLY CHILDHOOD EDUCATION, HEALTH CARE SERVICES, INFORMATION TECHNOLOGY, AND TRANSPORTATION PROGRAMS WERE THE ELIGIBLE PROGRAMS. SIX MORE STUDENTS WERE AWARDED LARGE SCHOLARSHIPS AND BENEFITED FROM THIS PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Borgert President | OfficerTrustee | 0.5 | $0 |
Jon Pearson Past President | OfficerTrustee | 0.5 | $0 |
Bethany Reid Interim Exec Dir (partial Year) | Officer | 40 | $0 |
Daniel Larson Executive Director | Officer | 40 | $0 |
Joe Francis Board Member | Trustee | 0.5 | $0 |
Corey Hansen Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $20,582 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $512,981 |
| Noncash contributions included in lines 1a–1f | $6,066 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $533,563 |
| Total Program Service Revenue | $0 |
| Investment income | $58,686 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$6,941 |
| Net Income from Gaming Activities | $1,090 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $586,398 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $145,414 |
| Grants and other assistance to domestic individuals. | $267,373 |
| 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 | $36,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,085 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,634 |
| Office expenses | $410 |
| Information technology | $15,181 |
| 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 | $26,731 |
| All other expenses | $0 |
| Total functional expenses | $506,328 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $387,006 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $16,000 |
| 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 | $4,289 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $97,934 |
| Investments—program-related | $2,512,352 |
| Intangible assets | $0 |
| Other assets | $1,139,114 |
| Total assets | $4,156,695 |
| Accounts payable and accrued expenses | $12,882 |
| 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 | $12,882 |
| Net assets without donor restrictions | $645,905 |
| Net assets with donor restrictions | $3,497,908 |
| 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 | $4,156,695 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that St Cloud Technical And Community College Foundation has recieved totaling $184,367.
| Awarding Organization | Amount |
|---|---|
Communitygiving St Cloud, MN PURPOSE: GEN/OPER SUPPORT | $168,367 |
Initiative Foundation Little Falls, MN PURPOSE: SUPPORT THE MISSION OF THE ORGANIZATION THROUGH THE VEX ROBOTICS PROGRAM | $15,000 |
Park Dental Foundation Roseville, MN PURPOSE: EDUCATIONAL SCHOLARSHIPS | $1,000 |
Endowment Analysis
| Beg. Balance | $2,818,321 |
| Earnings | -$31,521 |
| Admin Expense | $11,085 |
| Net Contributions | $325 |
| Other Expense | $2,028,190 |
| Grants | $3,406 |
| Ending Balance | $744,444 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iowa Student Loan Liquidity Corp West Des Moines, IA | $1,230,053,718 | $45,688,659 |
Northstar Education Finance Inc Eagan, MN | $1,293,468,719 | $40,177,777 |
Northwestern Mutual Life Foundation Inc Milwaukee, WI | $106,326,341 | $38,353,841 |
Scholarship America Inc Minneapolis, MN | $219,130,905 | $29,933,482 |
Des Moines Golf And Country Club West Des Moines, IA | $24,329,403 | $13,657,003 |
Waitt Foundation North Sioux City, SD | $157,175,219 | $6,009,824 |
Team Makers Club Inc Fargo, ND | $24,927,572 | $16,460,437 |
Bentson Foundation Wayzata, MN | $107,689,978 | $6,021,397 |
Rsm Us Foundation Davenport, IA | $13,920,904 | $7,669,329 |
Pleasant T Rowland Foundation Brookfield, WI | $94,312,384 | $11,804,849 |
Central States Fair Rapid City, SD | $6,354,015 | $4,358,357 |
Sc Johnson Giving Inc Racine, WI | $34,098,989 | $19,343,102 |