Western Iowa Tech Community College Foundation
- Assets
- $8.0m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Sioux City, IA
- Founding
- 01/1991
- Data as of
- 06/2023
- 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 06/2023, Western Iowa Tech Community College Foundation generated $1.4m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $802.5k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (2.9%) per year over the past 8 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
2023
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 |
|---|---|---|---|
Ross Rocklin President | OfficerTrustee | 1 | $0 |
Don Claeys Director | Trustee | 1 | $0 |
Theresa Petty Secretary | OfficerTrustee | 1 | $0 |
Terry Murrell Director | Trustee | 1 | $0 |
Dr Robert Dunker Director | Trustee | 1 | $0 |
Keith Obermiller Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $116,490 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,158,388 |
| Noncash contributions included in lines 1a–1f | $116,490 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,274,878 |
| Total Program Service Revenue | $0 |
| Investment income | $154,130 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$7,743 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,421,265 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $89,850 |
| Grants and other assistance to domestic individuals. | $562,521 |
| 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 | $2,385 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $802,531 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,165,072 |
| Pledges and grants receivable | $174,734 |
| 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 | $6,675,055 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,014,861 |
| 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 | $3,756 |
| Total liabilities | $3,756 |
| Net assets without donor restrictions | $1,302,139 |
| Net assets with donor restrictions | $6,708,966 |
| 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 | $8,014,861 |
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 |
|---|---|
VERIZON CULTIVATING STUDENT SUCCESS 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 |
IOWA AUTOMOBILE DEALERS FOUNDATION PURPOSE: TO PURCHASE OF 6 HYBRID ELECTRICAL MOTORS FOR THE AUTO TECH PROGRAM | $3,451 |
IBA FOUNDATION & NATIONAL ACADEMY OF TELEVISION PURPOSE: STUDENT SCHOLARSHIP FOR BROADCASTING AND MULTIMEDIA JOURNALISM | $1,851 |
GILCHRIST GRANT 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 |