2024-03-04T13:11:28-06:00 2023-06-30 411680240 SDK CPA 100 WASHINGTON AVE S STE 1600 MINNEAPOLIS MN 55401 990 2022-07-01 411288502 MINNEAPOLIS COMMUNITY & TECHNICAL COLLEGE FOUNDATION MINN 6126596820 1501 HENNEPIN AVE MINNEAPOLIS MN 55403 STEPHANIE HAMMES-BETTI PRESIDENT 6126596820 2024-02-22 1 STEPHANIE HAMMES-BETTI 999009999 0 TERESA MCALPINE CPA P01553695 6123325500 2024-02-22 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MINNEAPOLIS COLLEGE FOUNDATION STEPHANIE HAMMES-BETTI 1501 HENNEPIN AVE MINNEAPOLIS MN 55403 2724695 0 X WWW.MINNEAPOLIS.EDU/ALUMNI-AND-FOUNDATION X 1977 MN THE MINNEAPOLIS COMMUNITY & TECHNICAL COLLEGE FOUNDATION HELPS SOLVE ISSUES OF AFFORDABILITY AND ACCESS TO HIGHER EDUCATION THROUGH SCHOLARSHIPS AND INITIATIVES THAT SUPPORT STUDENTS, ENHANCE THE READINESS OF OUR WORKFORCE AND SUPPORT THE STRATEGIC PRIORITIES OF THE COLLEGE. 13 13 0 114 0 0 1862035 993130 0 0 468958 187467 0 0 2330993 1180597 994392 1270211 0 0 0 0 0 0 33475 257067 106473 1251459 1376684 1079534 -196087 7090729 7159814 33814 87304 7056915 7072510 X THE MINNEAPOLIS COMMUNITY & TECHNICAL COLLEGE FOUNDATION HELPS SOLVE ISSUES OF AFFORDABILITY AND ACCESS TO HIGHER EDUCATION THROUGH SCHOLARSHIPS AND INITIATIVES THAT SUPPORT STUDENTS, ENHANCE THE READINESS OF OUR WORKFORCE AND SUPPORT THE (CONTINUED ON SCHEDULE O) (CONTINUED FROM PAGE 2) STRATEGIC PRIORITIES OF THE COLLEGE. 0 0 1270711 1270211 THE FOUNDATION DOES NOT ADMINISTER ANY PROGRAMS. HOWEVER, IT RAISES FUNDS AND PROVIDES PART OR ALL OF THE FUNDING TO THE COLLEGE TO DEVELOP AND ADMINISTER SPECIFIC PROGRAMS, INITIATIVES AND SCHOLARSHIPS. 1270711 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 4 0 1 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 MN X BEVERLY WADSWORTH 6126596820 1501 HENNEPIN AVE MINNEAPOLIS MN 55403 STEPHANIE HAMMES-BETTI PRESIDENT 2.77 X X 0 0 0 KRISTIN HOUGH FRAME TREASURER 0.52 X X 0 0 0 MADDY RYAN SECRETARY 0.46 X X 0 0 0 RAMONA HARRISTHAL BOARD MEMBER 2.33 X 0 0 0 MARC JENSEN VICE PRESIDENT 0.46 X X 0 0 0 JAMAL JAMES BOARD MEMBER 0.46 X 0 0 0 PETER MCLAUGHLIN BOARD MEMBER 1.15 X 0 0 0 BOB ERICKSON BOARD MEMBER 0.35 X 0 0 0 RACHEL JOHNSON BOARD MEMBER 0.46 X 0 0 0 LINDA SATORIUS BOARD MEMBER 0.92 X 0 0 0 PETE MATHIESON BOARD MEMBER 1.00 X 0 0 0 MICHAEL DORSEY BOARD MEMBER FROM 12/15/22 0.53 X 0 0 0 CALVIN STEWART BOARD MEMBER FROM 4/20/23 0.10 X 0 0 0 BEVERLY WADSWORTH FOUNDATION DIRECTOR 40.00 X 0 83567 22276 0 83567 22276 0 0 0 0 0 993130 130390 993130 185139 185139 1546426 1544098 2328 2328 2328 1180597 0 0 187467 210877 210877 1059334 1059334 30287 30287 15946 15946 1550 1550 13235 8451 4784 14385 14385 665 620 45 1271 1271 OTHER ADMINISTRATIVE 19417 500 1538 17379 EQUIPMENT 9717 9717 1376684 1270711 72498 33475 120024 179085 1002451 2186 159000 254980 1495 4976 5728259 6639087 79500 79500 7090729 7159814 33814 87304 33814 87304 X 1440791 1530824 5616124 5541686 7056915 7072510 7090729 7159814 -196087 211682 0 X 0 1 X 1 0 X X X 1 MINNEAPOLIS COMMUNITY AND TECHNICAL COLLEGE 411687554 2 1 1270211 0 1 1270211 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3968453 161708 186521 145373 4171309 4282766 238254 -403978 148589 3968453 2815105 958095 547816 38250 4282766 2797393 137195 -9927 109556 2815105 2670054 48548 125346 46555 2797393 0.71082 0.28918 0 0 0 X 1578765 211682 202432 414114 1164651 15946 15946 1180597 1563170 202432 202432 1360738 15946 15946 1376684 PART V, LINE 4: ENDOWMENT FUNDS - INTENDED USE OF FUNDS 1) THE WHITNEY ENDOWMENT WAS GIVEN IN SUPPORT OF THE LIBRARY/TECHNOLOGY BUILDING. THE EARNINGS ARE TO BE USED TO PROVIDE TECHNOLOGY, BOOKS, MATERIALS, SUPPLIES AND EQUIPMENT, SERVICES, RELATED ADMINISTRATIVE EXPENSES, AND OTHER RELATED EXPENSES APPROVED BY THE FOUNDATION BOARD FOR THE BENEFIT OF WHEELOCK WHITNEY HALL. 2) THE WELLS FAMILY ENDOWMENT WAS GIVEN TO PROVIDE SCHOLARSHIPS. SPECIFICALLY, EARNINGS ARE TO PROVIDE SCHOLARSHIPS FOR MCTC STUDENTS WHO DEMONSTRATE FINANCIAL NEED WITH A PREFERENCE FOR WORKING STUDENTS WHO ARE EMPLOYED IN A MINIMUM SKILLED, LOW WAGE JOB. 3) BRIDGING THE EQUITY GAP IS TO PROVIDE DIRECT STUDENT SUPPORT FOR STUDENTS IN THE COHORT. THE EARNINGS ARE TO BE USED ON PROGRAM COSTS, MICRO-SCHOLARHIPS, AND TO OFFSET COLLEGE-RELATED EXPENSES FOR STUDENTS ENROLLED IN THE COHORT PROGRAM. 4) THE JOHN HEINRICHS ACADEMIC SUCCESS CENTER - PROVIDE SUPPORT TO ACADEMIC SUCCESS CENTER STUDENT MENTORS/TUTORS BY FUNDING BIANNUAL CASH AWARDS TO STUDENT TUTORS WHO DEMONSTRATE DEDICATION AND EXCELLENCE IN THEIR SERVICE AS MENTORS TO MINNEAPOLIS COLLEGE STUDENTS. 5) THE JANICE GEPNER - ERIC NEWMAN SCHOLARSHIP FUND - PROVIDE SCHOLARSHIPS AND OTHER FINANCIAL SUPPORT TO MINNEAPOLIS COLLEGE STUDENTS. 6) THE REMAINING ENDOWMENTS WERE GIVEN TO PROVIDE SCHOLARSHIPS. SPECIFICALLY, EARNINGS ARE TO PROVIDE VARIOUS SCHOLARSHIPS FOR MCTC STUDENTS. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM INCOME TAXES AS A PUBLIC CHARITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE STATUTES. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE FOUNDATION AND RECOGNIZE A TAX LIABILITY IF THE FOUNDATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT EVALUATED THE FOUNDATION'S TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. 1 MINNEAPOLIS COMMUNITY & TECHNICAL COLLEGE 1501 HENNEPIN AVE SO MINNEAPOLIS MN 55406 411687554 STATE OF MN 102258 0 FINANCIAL AID MINNEAPOLIS COMMUNITY & TECHNICAL COLLEGE 1501 HENNEPIN AVE SO MINNEAPOLIS MN 55406 411687554 STATE OF MN 0 108619 FMV EQUIPMENT PROGRAM EQUIPMENT 1 SCHOLARSHIPS 395 1059334 FMV PART I, LINE 2: GRANTS & SCHOLARSHIPS GRANTS ARE AVAILABLE FOR STUDENTS FROM BOTH FEDERAL AND STATE AGENCIES AND THE AMOUNT THAT YOU ARE ELIGIBLE TO RECEIVE IS CALCULATED AFTER YOU SUBMIT THE FAFSA APPLICATION. THE US DEPARTMENT OF EDUCATION APPLIES THE SAME RULES AND CALCULATIONS TO EVERY APPLICATION TO SEE WHO IS ELIGIBLE FOR FINANCIAL AID. THE MCTC FINACIAL AID OFFICE THEN DETERMINES YOUR FINANCIAL AID ELIGIBILITY BY APPLYING FEDERALLY OUTLINED RULES. THERE ARE ALSO A VARIETY OF SCHOLARSHIPS OFFERED EACH YEAR BY THE MCTC FOUNDATION. TO BE CONSIDERED FOR A SCHOLARSHIP, YOU MUST HAVE A FAFSA APPLICATION ON FILE ALONG WITH PERSONAL ESSAYS AND LETTERS OF RECOMENDATION. SPECIFIC CRITERIA ARE LISTED IN EACH SCHOLARSHIP APPLICATION FORM. X 1 7124 FMV X AIRCRAFT COMPONENTS 13 62700 FMV X TOOLS & EQUIPMENT 9 45919 FMV X MISC: FOOD, PRINTING, RENTAL ITEMS ETC. 1 14647 FMV 0 1 1 PART I, LINE 32B: THE FOUNDATION USES BERNSTEIN TO PROCESS THEIR NON-CASH STOCK DONATIONS. FORM 990, PART VI, SECTION B, LINE 11B SECTION FORM 990 REVIEW PROCESS THE COMPLETED FORM 990 IS PRESENTED TO THE FINANCE AND AUDIT COMMITTEE FOR APPROVAL PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY BOARD MEMBERS SIGN THE POLICY WHEN THEY BECOME A MEMBER OF THE BOARD. IT IS REVIEWED ANNUALLY AND RE-SIGNED AT THE BEGINNING OF A NEW TERM. THE CONFLICT OF INTEREST POLICY IS DESIGNED TO HELP DIRECTORS, OFFICERS AND EMPLOYEES OF THE MCTC FOUNDATION IDENTIFY SITUATIONS THAT PRESENT POTENTIAL CONFLICTS OF INTEREST AND TO PROVIDE MCTC FOUNDATION WITH A PROCEDURE WHICH, IF OBSERVED, WILL ALLOW A TRANSACTION TO BE TREATED AS VALID AND BINDING EVEN THOUGH A DIRECTOR, OFFICER OR EMPLOYEE HAS OR MAY HAVE A CONFLICT OF INTEREST WITH RESPECT TO THE TRANSACTION. THE POLICY IS INTENDED TO COMPLY WITH THE PROCEDURE PRESCRIBED IN MINNESOTA STATUTES, SECTION 317A.255 GOVERNING CONFLICTS OF INTEREST FOR DIRECTORS OF NON-PROFIT CORPORATIONS. FORM 990, PART VI, SECTION B, LINE 15 FOUNDATION COMPENSATION NO COMPENSATION IS PAID BY THE FOUNDATION. MANAGEMENT IS COMPENSATED BY THE COLLEGE. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOC, CONFLICT OF INT, ETC. THE MCTC FOUNDATION PROVIDES ITS GOVERNING DOCUMENTS TO THE PUBLIC. FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THIS INFORMATION IS AVAILABLE THROUGH THE CHARITIES REVIEW COUNCIL, SMARTGIVERS.ORG AS WELL AS GUIDESTAR.ORG AND OTHER PUBLIC SOURCES. THE FOUNDATION ALSO PROVIDES ITS FINANCIAL STATEMENTS TO THE MINNESOTA STATE COLLEGE AND UNIVERSITIES (MNSCU), WHICH IS COMPILED INTO AN ANNUAL REPORT. MINNEAPOLIS COMMUNITY & TECH COLLEGE 1501 HENNEPIN AVENUE MINNEAPOLIS MN 55403 411687554 EDUCATION MN N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 MINNEAPOLIS COMMUNITY & TECHNICAL COLLEGE B 1270211 CASH & FMV MINNEAPOLIS COMMUNITY & TECHNICAL COLLEGE O 177011 FMV