2024-11-06T13:22:05-06:00 2024-06-30 010523282 Berry Dunn McNeil & Parker LLC 2211 Congress St Portland ME 04102 990 2023-07-01 271363414 The Foundation for Maine's Community Colleges FOUN 2073216153 54 Lighthouse Circle South Portland ME 04106 Dr John Fitzsimmons President 2073516153 2024-11-01 1 1 Joseph R Byrne P01289281 2077752387 2024-11-01 2023 2024-10-15 13:58:12Z Dr John Fitzsimmons 54 Lighthouse Circle South Portland ME 04106 1379321 0 X www.maineccfoundation.org X 2009 ME Provide support and resources for Maine's seven community colleges. 11 10 3 10 0 0 842811 739671 352361 368217 211531 271433 0 0 1406703 1379321 7874871 6514446 0 0 299130 332137 0 0 199958 82472 80746 8256473 6927329 -6849770 -5548008 14060481 9433902 1036265 1628137 13024216 7805765 The Foundation for Maine's Community Colleges is dedicated to ensuring that the State's seven community colleges have the resources they need to provide a high quality, affordable, and accessible college education for Maine people. 0 0 6514446 6514446 368217 The Foundation for Maine's Community Colleges supported the Maine Community College System and its seven colleges (the System) by: -Developing sustainable sources of philanthropic funds for the System;-Advancing the public purpose of the System; and-Supporting the System's top priorities of student success and workforce development. 6514446 1 1 0 1 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 4 0 1 3 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 10 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X Dr John Fitzsimmons 2073216153 54 Lighthouse Circle South Portland ME 04106 Dr John Fitzsimmons President 30.00 X X 119395 0 30728 Hon John R McKernan Jr Chair 8.00 X X 0 0 0 Lisa M Gorman Vice Chair 7.00 X X 0 0 0 Hon Daniel E Wathen Secretary 5.00 X X 0 0 0 Lawrence A Wold Treasurer 6.00 X X 0 0 0 Scott Ballard Director 5.00 X 0 0 0 David Daigler Director 5.00 X 0 0 0 Tony DiSotto Director 5.00 X 0 0 0 Robert Montgomery-Rice Director 5.00 X 0 0 0 Joseph Purington Director 5.00 X 0 0 0 Elaine D Rosen Director 7.00 X 0 0 0 Carol Epstein Past Director 5.00 X 0 0 0 119395 0 30728 1 0 1 0 0 56520 683151 739671 Fundraising Svc. Fees 611710 368217 368217 368217 208696 208696 62737 0 62737 62737 62737 1379321 368217 0 271433 6514446 6514446 138350 41505 96845 138330 65574 72756 15936 15936 18812 3329 15483 20709 5835 14874 13245 13245 8918 8918 26310 26310 19050 19050 3495 3495 1633 1633 1557 1557 3701 3701 1242 1242 Gift Fees 1595 1595 6927329 6514446 212925 199958 X 6994993 5461862 5601491 2321190 28260 8274 3429 37959 37959 0 0 1427463 1647421 14060481 9433902 1036265 1628137 1036265 1628137 X 1542099 1862859 11482117 5942906 13024216 7805765 14060481 9433902 X -5548008 284632 44925 X 0 1 X 1 0 X 1768445 1888655 913387 842811 739671 6152969 1768445 1888655 913387 842811 739671 6152969 1993106 4159863 47012 31034 36092 186614 208696 509448 6662417 1736626 0.62440 0.47780 X Schedule A, Part VI, List of Unusual Grants: Description: Project Grant Date: 09/29/21 Amount: 15514487. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 6927329 6927329 496366 124092 0 0 282121 347116 562824 496366 1688427 2532641 70530 86779 140706 124092 422107 633161 948159 948159 948159 948159 903159 45000 948159 762033 141126 903159 711259 50774 762033 0.00000 1.00000 0.00000 0 0 37959 37959 0 0 X 1869584 284632 171219 455851 1413733 8918 -43330 -34412 1379321 7088035 171219 171219 6916816 8918 1595 10513 6927329 Part V, Line 4: The Organization uses its endowment funds to provide scholarships to students attending Maine's community colleges as well as provide funds to further its exempt purpose. Part X, Line 2: The Foundation is a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code and, accordingly, no provision for state or federal income taxes has been made in the accompanying financial statements. Management has evaluated the Foundation's tax positions and concluded that the Foundation has maintained its tax-exempt status, does not have any significant unrelated business income, and has taken no uncertain tax positions that require adjustment to the financial statements. The Foundation is subject to income tax examinations by the U.S. federal or state tax authorities for years ended after June 30, 2020. Part XI, Line 4b - Other Adjustments: Provision for Pledge Discounts & Gift Fees -43,330. Part XII, Line 4b - Other Adjustments: Gift Fees 1,595. 1 Maine Community College System 323 State Street Augusta ME 04330 010416015 Government 6514446 0 General support of Maine's 7 community colleges 1 0 Part I, Line 2: The Foundation only awards grants to the Maine Community College System, which is an instrumentality of the State of Maine. Additional monitoring is not deemed necessary. X X 0 0 0 0 0 0 0 0 0 Dr John Fitzsimmons President 118667 0 0 0 728 0 0 0 30728 0 150123 0 0 0 Form 990, Part VI, Section A, line 3 The Maine Community College System, pursuant to a written agreement, provides certain management and other services to the Foundation. These services include financial, investment, human resources, and public relations services. Form 990, Part VI, Section B, line 11b The Form 990 was prepared by the Foundation's outside accounting firm, reviewed in detail by and with the Foundation's management team, and emailed to each Board member. Board members were also invited to participate in a conference call meeting to review the Form 990 and for the staff to answer any questions prior to filing. Form 990, Part VI, Section B, line 12c Annually, each board member must file a signed conflict of interest disclosure form with the Foundation, as required by the conflict of interest policy. Form 990, Part VI, Section B, line 15a The President's compensation arrangement is determined by taking into account information about compensation paid by similarly-situated organizations for similar services. Currently, the Foundation has no paid officers or key employees other than the President, if and when such employees are hired, a similar process will be used to establish their compensation. Form 990, Part VI, Section C, line 19 The Foundation's governing documents, conflict of interest policy, and financial statements are all available to the public upon request. Form 990, Part X, Line 10: Land, Buildings, and Equipment Section 1.263(a)-3(n) Election: The Foundation for Maine's Community Colleges 54 Lighthouse Circle South Portland, ME 04106 EIN: 27-1363414 The Foundation for Maine's Community Colleges is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n). Form 990, Part XI, line 9: Provision for Pledge Discounts 44,925.