Marshalltown Community College Foundation
- Assets
- $6.2m
- Revenue
- $790.4k
- Investments
- $4.9m
- Employees
- 0
- Location
- Marshalltown, IA
- Founding
- 08/1966
- Data as of
- 12/2021
- EIN
- 42-6096518
Organization Overview
Marshalltown Community College Foundation is located in Marshalltown, IA. The organization was established in 1966. According to its NTEE Classification (B41) the organization is classified as: Two-Year Colleges, 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. Marshalltown 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 12/2021, Marshalltown Community College Foundation generated $790.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $477.5k during the year ending 12/2021. While expenses have increased by 2.2% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE WORTHY AND NEEDY STUDENTS SCHOLARSHIPS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FUNDS FOR SCHOLARSHIPS FOR WORTHY AND NEEDY STUDENTS TO HELP FINANCE COLLEGE EDUCATION AND TO SUPPORT THE DEPARTMENTS OF LIBERAL, FINE ARTS, ATHLETIC, SOCIAL SCIENCE AND HUMANITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Suzanne Mead Treasurer | Officer | 2 | $0 |
Jim Goodman Secretary | Officer | 2 | $0 |
Norma Meade Vice President | Officer | 2 | $0 |
Gary Schaudt President | Officer | 2 | $0 |
Lee Haupert Director | Trustee | 2 | $0 |
Vic Hellberg Director | Trustee | 2 | $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 | $595,609 |
| Noncash contributions included in lines 1a–1f | $50,191 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $595,609 |
| Total Program Service Revenue | $0 |
| Investment income | $168,379 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $25,761 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $790,444 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $361,771 |
| 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 | $75,790 |
| Fees for services: Legal | $5 |
| Fees for services: Accounting | $12,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,229 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,071 |
| 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 | $215 |
| All other expenses | $0 |
| Total functional expenses | $477,499 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,302,104 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Investments—other securities | $4,929,728 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,233 |
| Total assets | $6,238,065 |
| Accounts payable and accrued expenses | $174,044 |
| 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 | $174,044 |
| Net assets without donor restrictions | $822,219 |
| Net assets with donor restrictions | $5,241,802 |
| 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 | $6,238,065 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Marshalltown Community College Foundation has recieved totaling $121,383.
| Awarding Organization | Amount |
|---|---|
E Lester Williams Amd Frances M Williams Charitable Trust Des Moines, IA PURPOSE: EDUCATION - SUPPORT COMMUNITY COLLEGE | $54,215 |
Martha Ellen Tye Foundation Marshalltown, IA PURPOSE: ANNUAL CONTRIBUTION SCHOLARSHIPS | $22,500 |
American Endowment Foundation Hudson, OH PURPOSE: EDUCATIONAL | $15,000 |
Martha Ellen Tye Foundation Marshalltown, IA PURPOSE: ANNUAL CONTRIBUTION | $15,000 |
Community Fdn Of Greater Des Moines Des Moines, IA PURPOSE: JASPER COUNTY HOMELAND SECURITY-LAW ENFORCEMENT USE OF FORCE & TACTICAL SKILLS SIMULATOR | $12,020 |
Mount Saint Clare Education Charitable Trust Clinton, IA PURPOSE: SCHOLARSHIPS | $2,500 |
Endowment Analysis
| Beg. Balance | $4,771,107 |
| Earnings | $343,160 |
| Net Contributions | $502,669 |
| Grants | $375,134 |
| Ending Balance | $5,241,802 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ranken Technical College St Louis, MO | $130,223,439 | $47,100,026 |
Bethany Lutheran College & Seminary Inc Mankato, MN | $102,688,428 | $36,614,308 |
Lincoln University Lincoln, IL | $52,024,030 | $25,875,577 |
Cottey College Nevada, MO | $140,381,856 | $25,014,106 |
St Augustine College Chicago, IL | $15,853,961 | $18,146,895 |
Pierce Mortuary Colleges Inc Broadview, IL | $14,603,316 | $16,634,477 |
Metropolitan Community College Foundation Omaha, NE | $18,326,887 | $11,124,448 |
College Of The Menominee Nation Keshena, WI | $15,783,806 | $11,637,458 |
Lac Courte Oreilles Ojibwe College Hayward, WI | $16,000,980 | $10,229,989 |
Central Community College Foundation Inc Hastings, NE | $18,731,696 | $3,222,811 |
The Metropolitan Community College Foundation Kansas City, MO | $16,663,239 | $3,405,477 |
Southeast Community College Educational Fdn Lincoln, NE | $34,869,920 | $7,534,713 |