Western Iowa Tech Community College Foundation
- Assets
- $6.9m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Sioux City, IA
- Founding
- 01/1991
- Data as of
- 06/2022
- EIN
- 42-1355682
Organization Overview
Western Iowa Tech Community College Foundation is located in Sioux City, IA. The organization was established in 1991. 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. Western Iowa Tech 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, Western Iowa Tech Community College Foundation generated $1.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $813.4k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (3.1%) 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 PROVIDE SUPPORT TO WESTERN IOWA TECH COMM COLLEGE AND RELATED ORGANIZATIONS TO ASSIST IN THE FULFILLMENT OF LOCAL EDUCATIONAL GOALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION MAKES CONTRIBUTIONS AND GIFTS IN THE FORM OF SCHOLARSHIPS TO WESTERN IOWA TECH COMMUNITY COLLEGE AND RELATED ORGANIZATIONS IN ORDER TO CARRY OUT AND ACHIEVE LOCAL COMMUNITY EDUCATIONAL GOALS.
THE FOUNDATION MAKES CHARITABLE CONTRIBUTIONS TO WESTERN IOWA TECH COMMUNITY COLLEGE AND RELATED ORGANIZATIONS IN ORDER TO CARRY OUT AND ACHIEVE LOCAL COMMUNITY EDUCATIONAL GOALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Braunschweig Executive Director | Officer | 40 | $71,838 |
Paul Bergmann Vice President | OfficerTrustee | 1 | $0 |
Brenda Perrin President | OfficerTrustee | 1 | $0 |
Theresa Petty Secretary | OfficerTrustee | 1 | $0 |
Troy Jasman Treasurer | Officer | 1 | $0 |
Deborah Cook Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $118,646 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $736,129 |
| Noncash contributions included in lines 1a–1f | $118,646 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $854,775 |
| Total Program Service Revenue | $0 |
| Investment income | $120,794 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $37,349 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,012,918 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $17,049 |
| Grants and other assistance to domestic individuals. | $648,100 |
| 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 | $0 |
| 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 | $887 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $813,372 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,040,135 |
| Pledges and grants receivable | $294,731 |
| 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 | $5,538,671 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,873,537 |
| Accounts payable and accrued expenses | $0 |
| 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 | $1,264 |
| Total liabilities | $1,264 |
| Net assets without donor restrictions | $1,292,386 |
| Net assets with donor restrictions | $5,579,887 |
| 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 | $6,873,537 |
Grants Awarded
Over the last fiscal year, Western Iowa Tech Community College Foundation has awarded $53,842 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Springfield, MA PURPOSE: FUNDING TO ADDRESS FOOD INSECURITY AMONG WITCC STUDENTS: FARMERS' MARKET SHARES, EMERGENCY GROCERY GIFT CARDS,ESTABLISH AND STOCK FOOD PANTRIES AT EACH BRANCH CAMPUS. | $34,544 |
Sioux City, IA PURPOSE: FRAMING SIOUXLAND ARTS THROUGH A NEW LENS; PURCHASE OF CAMERA EQUIPMENT AND SOFTWARE FOR THE AUDIO ENGINEERING, VIDEO AND MEDIA PRODUCTION AND BROADCAST AND MULTIMEDIA JOURNALISM PROGRAMS | $13,996 |
West Des Moines, IA PURPOSE: TO PURCHASE OF 6 HYBRID ELECTRICAL MOTORS FOR THE AUTO TECH PROGRAM | $3,451 |
West Des Moines, IA PURPOSE: STUDENT SCHOLARSHIP FOR BROADCASTING AND MULTIMEDIA JOURNALISM | $1,851 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Western Iowa Tech Community College Foundation has recieved totaling $356,457.
| Awarding Organization | Amount |
|---|---|
Missouri River Historical Develop- Ment Inc Sioux City, IA PURPOSE: AVIATION MAINTENANCE TECHNICIAN FACILITY | $250,000 |
Missouri River Historical Develop- Ment Inc Sioux City, IA PURPOSE: SCHOLARSHIPS | $75,000 |
Alma Loeb Tw 1210-20804600 Las Vegas, NV PURPOSE: GENERAL OPERATING | $20,000 |
Siouxland Community Foundation Sioux City, IA PURPOSE: ANNUAL DISTRIBUTION | $9,944 |
Pella Rolscreen Foundation Pella, IA PURPOSE: GENERAL OPERATIONS | $1,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $13 |
Endowment Analysis
| Beg. Balance | $3,181,472 |
| Earnings | $90,052 |
| Net Contributions | $15,056 |
| Other Expense | $11,375 |
| Ending Balance | $3,275,205 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
South Dakota State University Foundation Brookings, SD | $287,960,105 | $54,798,337 |
Northern State University Foundation Aberdeen, SD | $84,974,607 | $23,577,331 |
Missouri State University Foundation Springfield, MO | $193,009,225 | $33,993,322 |
University Of South Dakota Foundation Vermillion, SD | $352,818,128 | $49,591,248 |
Ics Support Organization Inc Franklin, WI | $552,959,577 | $28,861,342 |
Umkc Foundation Kansas City, MO | $70,681,044 | $43,162,989 |
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 |
St Louis Charter Schools St Louis, MO | $19,224,709 | $16,300,473 |
Linda Hall Library Trust Kansas City, MO | $201,287,634 | $7,552,380 |