Mclennan Community College Foundation
- Assets
- $29.8m
- Revenue
- $4.4m
- Investments
- $3.3m
- Employees
- 0
- Location
- Waco, TX
- Founding
- 04/1990
- Data as of
- 08/2022
- EIN
- 74-2550278
Organization Overview
Mclennan Community College Foundation is located in Waco, TX. The organization was established in 1990. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, 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. Mclennan 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 08/2022, Mclennan Community College Foundation generated $4.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.5% each year . All expenses for the organization totaled $2.4m during the year ending 08/2022. While expenses have increased by 17.5% 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.
Since 2015, Mclennan Community College Foundation has awarded 26 individual grants totaling $4,321,061. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MCC FOUNDATION'S MISSION SUPPORTS THE DEVELOPMENT OF FUNDS FOR STUDENT SCHOLARSHIPS, STAFF AND FACULTY PROFESSIONAL DEVELOPMENT, CAMPUS CAPITAL PROJECTS AND STUDENT EMERGENCY NEEDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AWARDS SCHOLARSHIPS TO STUDENTS OF MCLENNAN COMMUNITY COLLEGE TO ENCOURAGE EDUCATIONAL OPPORTUNITIES. IN ADDITION, THE FOUNDATION PROVIDES EMERGENCY GRANTS TO STUDENTS OF MCLENNAN COMMUNITY COLLEGE WHO ENCOUNTER EXTRAORDINARY EVENTS THAT COULD NEGATIVELY AFFECT THEIR ABILITY TO CONTINUE THEIR COLLEGE EDUCATION. THE FOUNDATION ALSO SUPPORTS PAULANNE'S PANTRY TO PROVIDE BASIC FOOD AND HYGIENE ITEMS FOR STUDENTS EXPERIENCING ECONOMIC INSECURITIES.
FUNDS WERE DISTRIBUTED TO MCLENNAN COMMUNITY COLLEGE TO COVER $1,425,844 IN FACILITIES EXPENSE AND $338,792 IN VARIOUS COLLEGE PROGRAM EXPENSES.
GRANTS TO MCLENNAN COMMUNITY COLLEGE TO BE USED TO FUND PROFESSIONAL DEVELOPMENT CONFERENCES AND CONTINUING EDUCATION FOR FACULTY AND STAFF.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Betsy Reeder Chair | OfficerTrustee | 1 | $0 |
Rick Brophy Past-Chair | OfficerTrustee | 1 | $0 |
Dana Hassell Treasurer | OfficerTrustee | 1 | $0 |
Vik Deivanayagam Vice-Chair | OfficerTrustee | 1 | $0 |
Dr Johnette Mckown Secretary | OfficerTrustee | 1 | $0 |
Kim Patterson Executive Director | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $29,675 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,964,703 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,994,378 |
| Total Program Service Revenue | $0 |
| Investment income | $485,502 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $944,069 |
| Net Income from Fundraising Events | -$1,457 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,422,492 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,809,274 |
| Grants and other assistance to domestic individuals. | $537,391 |
| 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 | $29,992 |
| 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 | $60,809 |
| Total functional expenses | $2,437,466 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $248,762 |
| Savings and temporary cash investments | $102,226 |
| Pledges and grants receivable | $305,230 |
| 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 | $25,817,255 |
| Investments—other securities | $3,329,264 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $23,397 |
| Total assets | $29,826,134 |
| Accounts payable and accrued expenses | $1,466,130 |
| 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 | $1,466,130 |
| Net assets without donor restrictions | $45,473 |
| Net assets with donor restrictions | $28,314,531 |
| 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 | $29,826,134 |
Grants Awarded
Over the last fiscal year, Mclennan Community College Foundation has awarded $1,809,274 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
MCLENNAN COMMUNITY COLLEGE PURPOSE: DISTRIBUTIONS FOR FACILITIES EXPENSES FOR THE COLLEGE. | $1,425,844 |
MCLENNAN COMMUNITY COLLEGE PURPOSE: DISTRIBUTED FOR VARIOUS COLLEGE PROGRAM EXPENSES. | $338,792 |
MCLENNAN COMMUNITY COLLEGE PURPOSE: PROFESSIONAL DEVELOPMENT EXPENSES FOR CONFERENCES AND CONTINUING EDUCATION FOR FACULTY AND STAFF | $44,638 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Mclennan Community College Foundation has recieved totaling $500.
| Awarding Organization | Amount |
|---|---|
Mcclane Brown Family Foundation Waco, TX PURPOSE: CHARITABLE | $500 |
Endowment Analysis
| Beg. Balance | $31,491,814 |
| Earnings | -$3,732,738 |
| Admin Expense | $29,992 |
| Net Contributions | $2,932,112 |
| Grants | $2,346,665 |
| Ending Balance | $28,314,531 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harold E Riley Foundation Fort Worth, TX | $357,850 | $584,984 |
Compass Rose Education Inc San Antonio, TX | $15,459,454 | $19,431,467 |
Three Oclock Project Baton Rouge, LA | $1,930,450 | $18,582,179 |
Athlos Louisiana Terrytown, LA | $4,119,183 | $17,119,142 |
Nmc Inc Los Alamos, NM | $8,318,653 | $11,151,295 |
Valor Texas Education Foundation Austin, TX | $20,040,325 | $11,565,701 |
Foundation For Tulsa Schools Tulsa, OK | $13,402,243 | $11,567,047 |
Eugene Higgins Charitable Trust Dallas, TX | $194,077,327 | $32,131,659 |
Lyndon Baines Johnson Foundation Austin, TX | $271,934,270 | $12,544,612 |
Los Alamos National Laboratory Foundation Espanola, NM | $121,206,991 | $6,734,322 |
Joe W & Dorothy Dorsett Brown Foundation Metairie, LA | $122,222,465 | $11,452,057 |
Canfield Family Foundation Austin, TX | $4,029,217 | $166,419 |