Northwest Iowa Community College Foundation
- Assets
- $8.9m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Sheldon, IA
- Founding
- 11/1988
- Data as of
- 06/2021
- EIN
- 42-1275893
Organization Overview
Northwest Iowa Community College Foundation is located in Sheldon, IA. The organization was established in 1988. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northwest Iowa 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 06/2021, Northwest Iowa Community College Foundation generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.3% each year . All expenses for the organization totaled $649.3k during the year ending 06/2021. 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
PROVIDING SCHOLARSHIPS AND EQUIPMENT TO THE STUDENTS OF NORTHWEST IOWA COMMUNITY COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NORTHWEST IOWA COMMUNITY COLLEGE FOUNDATION RECEIVES DONATIONS FROM OUTSIDE SOURCES AND DISTRIBUTES THESE DONATIONS TO THE STUDENTS AT NORTHWEST IOWA COMMUNITY COLLEGE IN SHELDON, IOWA IN THE FORM OF SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Ten Haken President | OfficerTrustee | 1 | $0 |
Kristi Landis Secretary | OfficerTrustee | 1 | $0 |
Lyle Korver Vice-Preside | OfficerTrustee | 1 | $0 |
Brian Nash Treasurer | OfficerTrustee | 1 | $0 |
John Hartog Director | Trustee | 1 | $0 |
Adam Besaw 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 | $846,957 |
| Noncash contributions included in lines 1a–1f | $38,492 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $846,957 |
| Total Program Service Revenue | $0 |
| Investment income | $129,369 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $246,019 |
| Net Income from Fundraising Events | $35,455 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,257,800 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $549,874 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36,600 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $649,305 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $629,466 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $284,654 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $7,947,937 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,862,057 |
| Accounts payable and accrued expenses | $40 |
| 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 | $40 |
| Net assets without donor restrictions | $3,690,196 |
| Net assets with donor restrictions | $5,171,821 |
| 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 | $8,862,057 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Northwest Iowa Community College Foundation has recieved totaling $11,013.
| Awarding Organization | Amount |
|---|---|
Dorothy E Mccormack Charitable Tr Sioux Center, IA PURPOSE: SUPPORT FOR ENTITY'S NON-PROFIT PURPOSE | $4,500 |
Demco Charitable Foundation Boyden, IA PURPOSE: TO SUPPORT EDUCATIONAL SYSTEM | $2,500 |
Premier Communications Foundation Sioux Center, IA PURPOSE: CHARITABLE CONTRIBUTION | $2,000 |
Pella Rolscreen Foundation Pella, IA PURPOSE: GENERAL OPERATIONS | $750 |
Paul & Mary Collins Trust 2 Milwaukee, WI PURPOSE: SCHOLARSHIPS | $650 |
James J Postma Trust B 12165924 Chicago, IL PURPOSE: SCHOLARSHIPS | $500 |
Endowment Analysis
| Beg. Balance | $3,914,485 |
| Earnings | $894,250 |
| Net Contributions | $509,592 |
| Other Expense | $146,506 |
| Ending Balance | $5,171,821 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Greater Milwaukee Foundation Inc Milwaukee, WI | $1,114,706,959 | $151,763,598 |
Thrivent Charitable Impact & Investing Appleton, WI | $809,708,853 | $138,812,775 |
Community Fdn Of Greater Des Moines Des Moines, IA | $756,930,676 | $144,988,273 |
Greater Green Bay Community Foundation Inc Green Bay, WI | $158,723,657 | $42,186,646 |
Omaha Community Foundation Donor Directed Depository Omaha, NE | $49,176,399 | $38,155,808 |
Nebraska Community Foundation Lincoln, NE | $227,749,373 | $20,781,363 |
Community Foundation For The Fox Valley Region Inc Appleton, WI | $500,269,949 | $60,999,391 |
Madison Community Foundation Madison, WI | $285,628,719 | $40,248,600 |
Elks National Foundation Inc Chicago, IL | $936,472,552 | $62,047,958 |
Sioux Falls Area Community Foundation Inc Sioux Falls, SD | $264,068,911 | $59,923,672 |
Lincoln Community Foundation Inc Lincoln, NE | $161,472,860 | $29,470,305 |
Community Foundation Of The Ozarks Inc Springfield, MO | $393,798,423 | $57,110,719 |