2023-12-20T12:09:57-06:00 2023-06-30 420714325 RSM US LLP 227 WEST FIRST STREET SUITE 700 DULUTH MN 55802 990 2022-07-01 411535213 ROCHESTER COMMUNITY AND TECHNICAL COLLEGE FOUNDATION ROCH 5072817770 851 30TH AVENUE SE ROCHESTER MN 55904 MARKUS LANG PRESIDENT 5072817770 2023-12-19 1 MARKUS LANG 999009999 0 JULIE BOYER P01278549 2187275025 2023-12-19 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MARKUS LANG 851 30TH AVENUE SE ROCHESTER MN 55904 839496 0 X WWW.RCTC.EDU/FOUNDATION X 1961 MN RCTC FOUNDATION IMPROVES LIVES WITH THE SUPPORT OF QUALITY, AFFORDABLE, ACCESSIBLE HIGHER EDUCATION. WE RAISE FUNDS TO SUPPORT SCHOLARSHIPS, STUDENT BASIC NEEDS, ENHANCE QUALITY ACADEMICS, ENRICH CAMPUS LIFE WITH ATHLETICS AND ARTS, AND MAKE STRATEGIC INVESTMENTS IN OUR STUDENTS AND COLLEGE. THROUGH ACTIVE, ONGOING CAMPAIGNS TO PROMOTE PHILANTHROPY IN THE COMMUNITY, THE FOUNDATION AIMS TO GROW A DIVERSE POOL OF RESOURCES SUFFICIENT TO PROVIDE AFFORDABLE EDUCATION FOR ALL STUDENTS, ADD VALUE AND EXCELLENCE TO THE PROGRAMS OFFERED AT RCTC AND HELP INSULATE THE INSTITUTION FROM FUTURE ECONOMIC AND POLITICAL FORCES BY HELPING TO FILL GAPS IN STATE FUNDING. THE FOUNDATION BELIEVES THAT NO STUDENT SHOULD BE TURNED AWAY FROM RCTC DUE TO AN INABILITY TO PAY TUITION. 13 13 0 95 0 0 487200 604959 0 0 407564 231537 0 -10204 894764 826292 292424 327736 0 0 0 0 0 0 16697 82773 83112 375197 410848 519567 415444 7047020 8023336 186542 148309 6860478 7875027 IMPROVE LIVES WITH SUPPORT OF QUALITY, AFFORDABLE, ACCESSIBLE HIGHER EDUCATION. 0 0 321594 321594 ROCHESTER COMMUNITY AND TECHNICAL COLLEGE FOUNDATION OFFERS A SCHOLARSHIP PROGRAM. THIS PROGRAM WORKS WITH NUMEROUS DONORS TO PROVIDE SCHOLARSHIPS FOR NEW, RETURNING AND GRADUATING RCTC STUDENTS. DURING THE 2023 FISCAL YEAR SCHOLARSHIPS WERE DISBURSED TO APPROXIMATELY 300 STUDENTS. 6142 6142 ROCHESTER COMMUNITY AND TECHNICAL COLLEGE FOUNDATION PROVIDES SUPPORT TO STUDENT CLUBS. FUNDS ARE ALLOCATED TO VARIOUS STUDENT CLUBS ON CAMPUS TO ASSIST IN THE COSTS OF THE ACTIVITIES. ROCHESTER COMMUNITY AND TECHNICAL COLLEGE FOUNDATION PROVIDES STUDENT HANDS ON LEARNING. GIFTS-IN-KIND OF PROGRAM EQUIPMENT AND SUPPLIES ARE ALLOCATED TO DIFFERENT DEPARTMENTS AND PROGRAMS TO ASSIST STUDENTS IN HANDS-ON LEARNING. 327736 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 X 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 MN X KRISTIN MANNIX 5072817770 851 30TH AVENUE SE ROCHESTER MN 55904 X MATT HORACE DIRECTOR (END 6/30/23) 0.50 X 0 0 0 OPAL RICHARDS DIRECTOR 0.50 X 0 0 0 PEGGY VEVANG DIRECTOR (END 4/30/23) 0.50 X 0 0 0 PAULETTE TEIGEN DIRECTOR 0.50 X 0 0 0 ALLY HANTEN EBERT DIRECTOR 0.50 X 0 0 0 KATIE BECKER DIRECTOR (END 9/6/22) 0.50 X 0 0 0 AHMITARA ALWAL DIRECTOR (END 6/30/23) 0.50 X 0 0 0 ALEX BRAINARD DIRECTOR 0.50 X 0 0 0 ANTHONY ZUCCO DIRECTOR 0.50 X 0 0 0 THU PARK DIRECTOR 0.50 X 0 0 0 LAURA SHEEHAN DIRECTOR 0.50 X 0 0 0 HEATHER DONOVAN SECRETARY 1.00 X X 0 0 0 ALEX LAIR TREASURER 1.00 X X 0 0 0 TONY JOSEPH VICE PRESIDENT (END 6/30/23) 1.00 X X 0 0 0 MARKUS LANG PRESIDENT 1.00 X X 0 0 0 0 0 0 0 0 0 0 0 30398 574561 604959 231537 231537 3000 30398 13204 -10204 -10204 826292 0 0 221333 6142 6142 321594 321594 26712 26712 23572 23572 2320 2320 14262 8773 5489 13888 5000 8888 730 730 1476 1476 OAKS EVENT EXPENSE 152 152 410848 327736 66415 16697 388079 437520 0 16873 21693 43966 7176 7176 0 0 6622754 7510408 14494 14569 7047020 8023336 3793 6294 182749 142015 186542 148309 X 102812 77918 6757666 7797109 6860478 7875027 7047020 8023336 X 415444 599030 75 X X 0 1 X 1 0 X 400619 219439 302184 487200 604959 2014401 400619 219439 302184 487200 604959 2014401 148900 1865501 169626 178687 204078 407564 231537 1191492 26601 26601 3232494 0.57710 0.72950 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6757667 557967 807069 325594 7797109 7977959 441549 -1381158 235697 44986 6757667 6481086 142436 1608809 254372 7977959 6704358 158215 -10092 371395 6481086 5972880 654269 281926 204717 6704358 0.00000 0.65000 0.35000 0 0 7176 7176 0 0 FUNDS, EQUIPMENT, AND SUPPLIES HELD FOR THE BENEFIT OF OTHERS 142015 142015 X 1588378 599030 173349 13279 785658 802720 23572 23572 826292 573829 173349 13204 186553 387276 23572 23572 410848 PART V, LINE 4: ROCHESTER COMMUNITY AND TECHNICAL COLLEGE FOUNDATION HAS ENDOWMENT FUNDS TO PROVIDE SCHOLARSHIPS AND SUPPORT TO STUDENTS AND PROGRAMS AT ROCHESTER COMMUNITY AND TECHNICAL COLLEGE. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES AS A TAX-EXEMPT ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT FOR INCOME ON CERTAIN UNRELATED BUSINESS INCOME. AT JUNE 30, 2023, THERE IS NO MATERIAL AMOUNT OF UNRELATED BUSINESS INCOME. THE FOUNDATION IS ALSO EXEMPT FROM STATE INCOME TAXES UNDER APPLICABLE MINNESOTA STATUTES. THE FOUNDATION HAS REVIEWED ITS TAX POSITIONS FOR ALL OPEN YEARS AND HAS CONCLUDED THAT NO MATERIAL LIABILITIES EXIST AS OF JUNE 30, 2023 OR 2022. GENERALLY, THE FOUNDATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES BEYOND THREE YEARS FROM FILING. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENT 75. SPECIAL EVENTS EXPENSES RECLASSIFIED TO REVENUE 13,204. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES RECLASSIFIED TO REVENUE 13,204. OAKS EVENT DINNER 33398 30398 3000 4910 150 8144 33398 30398 3000 4910 150 8144 13204 -10204 1 0 0 SCHOLARSHIPS 264 321594 PART I, LINE 2: STUDENTS APPLY FOR SCHOLARSHIPS USING THE ONLINE PORTAL. PORTAL IS OPEN FOR APPROXIMATELY 10 WEEKS. THE SCHOLARSHIP SELECTION COMMITTEE (APPROXIMATELY 15 PEOPLE) LOOK AT THE APPLICATIONS AND THEN SCORE THEM. THERE ARE TWO REVIEWERS FOR EVERY APPLICANT. FOUNDATION STAFF THEN GO THROUGH AND AWARD SCHOLARSHIPS BASED ON RANKING. A MAXIMUM OF TWO SCHOLARSHIPS PER APPLICANT IS AWARDED SO A LARGER POOL OF STUDENTS HAVE AN OPPORTUNITY TO RECEIVE ONE. FORM 990, PART V, LINE 7H: ROCHESTER COMMUNITY AND TECHNICAL COLLEGE FOUNDATION RECEIVES CONTRIBUTIONS OF CARS FOR WHICH THEY ISSUE 1098-C'S. THESE CAR CONTRIBUTIONS ARE HELD FOR THE BENEFIT OF ANOTHER ORGANIZATION AND THEREFORE IS NOT REPORTED AS CONTRIBUTION REVENUE. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING FORM 990, IT IS REVIEWED BY THE FOUNDATION TREASURER WITH A SUMMARY OF FORM 990 PRESENTED TO THE FOUNDATION BOARD OF DIRECTORS DURING A MONTHLY MEETING. COPIES OF FORM 990 ARE MADE AVAILABLE TO EACH BOARD MEMBER. FORM 990, PART VI, SECTION B, LINE 12C ALL CONFLICTS OF INTEREST ARE NOT NECESSARILY PROHIBITED OR HARMFUL TO THE RCTC FOUNDATION. HOWEVER, FULL DISCLOSURE OF ALL ACTUAL AND POTENTIAL CONFLICTS, AND A DETERMINATION BY THE DISINTERESTED BOARD (OR RCTC FOUNDATION'S EXECUTIVE COMMITTEE) MEMBERS - WITH THE INTERESTED BOARD MEMBER(S) RECUSED FROM PARTICIPATING IN DEBATES AND VOTING ON THE MATTER - ARE REQUIRED. ALL ACTUAL AND POTENTIAL CONFLICTS OF INTERESTS SHALL BE DISCLOSED BY BOARD MEMBERS TO THE RCTC FOUNDATION EXECUTIVE COMMITTEE THROUGH THE ANNUAL DISCLOSURE FORM AND/OR TO THE BOARD WHENEVER A CONFLICT ARISES. DISINTERESTED MEMBERS OF THE RCTC FOUNDATION EXECUTIVE COMMITTEE SHALL MAKE A DETERMINATION AS TO WHETHER A PROHIBITED CONFLICT EXISTS AND WHAT SUBSEQUENT ACTION IS APPROPRIATE (IF ANY). THE RCTC FOUNDATION EXECUTIVE COMMITTEE SHALL INFORM THE BOARD OF SUCH DETERMINATION AND ACTION. THE BOARD SHALL RETAIN THE RIGHT TO MODIFY OR REVERSE SUCH DETERMINATION AND ACTION AND SHALL RETAIN THE ULTIMATE ENFORCEMENT AUTHORITY WITH RESPECT TO THE INTERPRETATION AND APPLICATION OF THIS POLICY. ON AN ANNUAL BASIS, ALL BOARD MEMBERS SHALL BE PROVIDED WITH A COPY OF THIS POLICY AND REQUIRED TO COMPLETE AND SIGN THE ACKNOWLEDGMENT AND DISCLOSURE FORM BELOW. ALL COMPLETED FORMS SHALL BE PROVIDED TO AND REVIEWED BY THE RCTC FOUNDATION EXECUTIVE COMMITTEE, AS WELL AS ALL OTHER CONFLICT INFORMATION, IF ANY, PROVIDED BY BOARD MEMBERS. FORM 990, PART VI, SECTION C, LINE 18 INTERESTED PERSONS ARE ENCOURAGED TO REACH OUT TO THE FOUNDATION OFFICE FOR A COPY OF THE FORMS. FORM 990, PART VI, SECTION C, LINE 19 THE PUBLIC IS ENCOURAGED TO CONTACT THE FOUNDATION IN PERSON TO REQUEST DOCUMENTATION. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENT 75. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE THE OVERSIGHT AND SELECTION PROCESS FROM THE PRIOR TAX YEAR.