2025-12-12T10:57:21-06:00 2025-08-31 742533381 JRBT PC 5400 BOSQUE BLVD STE 600 WACO TX 767104459 990 2024-09-01 742550278 MCLENNAN COMMUNITY COLLEGE FOUNDATION ATTN CHRISTOPHER QUALLS MCLE 2542998606 1400 COLLEGE DR WACO TX 76708 CHRISTOPHER QUALLS EXECUTIVE DIRECTOR 2542998606 2025-12-10 1 0 NANCY A LIVINGSTON P00044678 2547764190 2025-12-10 2024 2025-03-06 01:10:19Z CHRISTOPHER QUALLS 1400 COLLEGE DR WACO TX 76708 5006079 0 X WWW.MCLENNAN.EDU/FOUNDATION X 1985 TX 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. 26 26 0 140 0 0 821887 1546686 0 0 1651374 1842448 -11737 -30651 2461524 3358483 3322913 2045940 0 0 0 0 0 0 0 144786 200393 3467699 2246333 -1006175 1112150 37345391 38249067 1790637 295418 35554754 37953649 THE MCC FOUNDATION'S MISSION SUPPORTS THE DEVELOPMENT OF FUNDS FOR STUDENT SCHOLARSHIPS, STAFF AND FACULTY PROFESSIONAL DEVELOPMENT AND CAMPUS CAPITAL NEEDS. 0 0 689522 689522 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. 1317708 1317708 FUNDS WERE DISTRIBUTED TO MCLENNAN COMMUNITY COLLEGE TO COVER $911,483 IN FACILITIES EXPENSE AND $409,225 IN VARIOUS COLLEGE PROGRAM EXPENSES. 38710 38710 GRANTS TO MCLENNAN COMMUNITY COLLEGE TO BE USED TO FUND PROFESSIONAL DEVELOPMENT CONFERENCES AND CONTINUING EDUCATION FOR FACULTY AND STAFF. 2045940 1 1 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 5 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 26 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X CHRISTOPHER QUALLS 2542998604 1400 COLLEGE DR WACO TX 76708 X MARY PEREZ CHAIR 1.00 X X 0 0 0 DANA HASSELL PAST CHAIR 1.00 X X 0 0 0 SABRINA MOORE TREASURER 1.00 X X 0 0 0 DR JOHNETTE MCKOWN SECRETARY/MCC PRES 1.00 X X 0 0 0 RODNEY CLARK DIRECTOR 1.00 X 0 0 0 MOSIE HOLLEY VICE-CHAIR 1.00 X X 0 0 0 LEN BROWN DIRECTOR 1.00 X 0 0 0 JOHN BIBLE DIRECTOR 1.00 X 0 0 0 DR EDDIE MORRISON DIRECTOR 1.00 X 0 0 0 DEIDRA EMERSON DIRECTOR 1.00 X 0 0 0 JOHNNY GIOTES DIRECTOR 1.00 X 0 0 0 BETSY REEDER DIRECTOR 1.00 X 0 0 0 MISTI MOSTILLER DIRECTOR 1.00 X 0 0 0 DONALD LEWIS DIRECTOR 1.00 X 0 0 0 PAUL MCCLINTON DIRECTOR 1.00 X 0 0 0 ANDY HARWELL DIRECTOR 1.00 X 0 0 0 JONATHAN HILL DIRECTOR 1.00 X 0 0 0 CLINT LEWIS DIRECTOR 1.00 X 0 0 0 DR LAUR WICHMAN DIRECTOR 1.00 X 0 0 0 EARL STINNETT DIRECTOR 1.00 X 0 0 0 DEBBIE SARTAIN DIRECTOR 1.00 X 0 0 0 DR DIANNE SAWYER DIRECTOR 1.00 X 0 0 0 J DAVID DICKSON DIRECTOR 1.00 X 0 0 0 CHRISTOPHER QUALLS EXECUTIVE DIRECTOR(4/25-PRESENT) 40.00 X 0 0 0 WES LIVESAY EXECUTIVE DIRECTOR(10.15.23-8.31.24) 40.00 X 142465 0 20590 142465 0 20590 1 0 1 0 0 71653 1475033 1546686 626910 626910 2798283 1582745 1215538 1215538 1215538 34200 71653 64851 -30651 -30651 3358483 0 0 1811797 1356418 1356418 689522 689522 95773 95773 GENERAL & ADMINISTRATIV 104620 104620 2246333 2045940 200393 0 171327 71052 1419065 844844 140000 298031 73010 61022 31405543 6888582 4112532 30061622 23914 23914 37345391 38249067 1790637 295418 1790637 295418 X 45473 45622 35509281 37908027 35554754 37953649 37345391 38249067 1112150 1286745 0 X X 0 1 X 1 0 X 1547789 2994378 2898644 821887 1546686 9809384 323746 348078 486602 523055 514607 2196088 1871535 3342456 3385246 1344942 2061293 12005472 3099135 8906337 404073 485502 541944 786840 626910 2845269 6247 6247 14856988 0.59950 0.57600 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 35509281 1516035 3129193 2150709 95773 37908027 32552770 810150 5614060 3415767 51932 35509281 28314531 2817961 2254330 804690 29362 32552770 31491814 2932112 -3732738 2346665 29992 28314531 24707381 1575838 6181652 942822 30235 31491814 0.00000 0.36521 0.63479 1 0 0 LIMITED PARTNERSHIP INTEREST 30061622 F 30061622 X 5064062 1286745 514607 1801352 3262710 95773 95773 3358483 2665167 514607 514607 2150560 95773 95773 2246333 PART V, LINE 4: MCTHE FOUNDATION'S NET ASSETS WITH DONOR RESTRICTIONS - RESTRICTED IN PERPETUITY CONSIST OF APPROXIMATELY 330 ENDOWMENT FUNDS. THESE DONOR-RESTRICTED ENDOWMENT FUNDS AT AUGUST 31, 2025 AND 2024 HAVE BEEN ESTABLISHED PRINCIPALLY FOR (A) SCHOLARSHIPS (APPROXIMATELY $12,759,000 AND $12,203,000, RESPECTIVELY), (B) A DISTINGUISHED LECTURE SERIES (APPROXIMATELY $507,000 AND $507,000, RESPECTIVELY), (C) MAINTENANCE OF STEINWAY PIANOS OWNED BY THE DISTRICT (APPROXIMATELY $326,000 AND $326,000, RESPECTIVELY), AND (D) OTHER EDUCATIONAL PURPOSES UNDER A TITLE III GRANT (APPROXIMATELY $253,000 AND $253,000, RESPECTIVELY). AS REQUIRED BY PROFESSIONAL STANDARDS, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF DIRECTORS TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. EXPLICIT DONOR STIPULATIONS DEFINE AMOUNTS THAT MAY BE EXPENDED FOR EACH OF THE FOUNDATION'S ENDOWMENTS. AS A RESULT, THE FOUNDATION CLASSIFIES AS DONOR RESTRICTED NET ASSETS (A) THE ORIGINAL VALUE OF GIFTS DONATED TO THE PERMANENT ENDOWMENT, (B) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE PERMANENT ENDOWMENT, AND (C) ACCUMULATIONS (DECREMENTS) TO THE PERMANENT ENDOWMENT MADE IN ACCORDANCE WITH THE DIRECTION OF THE APPLICABLE DONOR GIFT INSTRUMENTS. DONOR RESTRICTED NET ASSETS ARE AVAILABLE FOR THE FOLLOWING SPECIFIC PROGRAMS: SCHOLARSHIPS-$20,159,225; EDUCATIONAL -TITLE III GRANTS- $2,736,715; DISTINQUISHED LECTURE SERIES - $760,297; AND FACILITY IMPROVEMENTS - $407,252 FOR A TOTAL OF DONOR RESTRICTED NET ASSETS OF $24,063,489. PART X, LINE 2: FORM 990, PART IV, LINE 11F: THE FOUNDATION QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND, ACCORDINGLY, IS GENERALLY NOT SUBJECT TO FEDERAL INCOME TAX. THE FOUNDATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. RECOGNIZED INCOME TAX POSITIONS ARE MEASURED AT THE LARGEST AMOUNT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED. CHANGES IN THE RECOGNITION OR MEASUREMENT ARE REFLECTED IN THE PERIOD IN WHICH THE CHANGE IN JUDGMENT OCCURS. THE FOUNDATION RECORDS INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN MANAGEMENT AND GENERAL EXPENSES. SCHEDULE D, PART V, LINE 4 - INTENDED USE OF ENDOWMENT FUNDS: THE PERMANENTLY RESTRICTED FUND IS INTENDED FOR SCHOLARSHIPS FOR STUDENTS ATTENDING MCLENNAN COMMUNITY COLLEGE. TEMPORARILY RESTRICTED FUNDS ARE FOR SCHOLARSHIPS AND VARIOUS CAMPUS IMPROVEMENTS INCLUDING THE SCIENCE AND HPC BUILDINGS. SCHEDULE D, PART V, LINE 1D AND 1F: IN YEARS PRIOR TO THE YEAR ENDED AUGUST 31, 2016, ADMINISTRATIVE EXPENSES OF THE ENDOWMENT FUND WERE INCLUDED WITH GRANTS AND SCHOLARSHIPS ON LINE 1D. BEGINNING WITH THE FISCAL YEAR ENDED AUGUST 31, 2016, ADMINISTRATIVE EXPENSES ARE REPORTED SEPARATELY ON LINE 1F. ANNUAL MCC GOLF TOURNAMENT 69253 46053 23200 12224 3464 26689 ANNUAL HEARTS IN THE ARTS-GALA 36600 25600 11000 15624 6850 105853 71653 34200 12224 19088 33539 64851 -30651 1 MCLENNAN COMMUNITY COLLEGE 1400 COLLEGE DRIVE WACO TX 76708 741541260 406225 0 DISTRIBUTED FOR VARIOUS COLLEGE PROGRAM EXPENSES. MCLENNAN COMMUNITY COLLEGE 1400 COLLEGE DRIVE WACO TX 76708 741541260 38710 0 PROFESSIONAL DEVELOPMENT EXPENSES FOR CONFERENCES AND CONTINUING EDUCATION FOR FACULTY AND STAFF MCLENNAN COMMUNITY COLLEGE 1400 COLLEGE DRIVE WACO TX 76708 741541260 911483 0 DISTRIBUTIONS FOR FACILITIES EXPENSES FOR THE COLLEGE. STUDENT SCHOLARSHIPS FOR TUITION/FEES/BOOKS. SCHOLARSHIPS RANGE FROM $250 TO $1,000 PER SEMESTER. APPROXIMATELY 580 STUDENTS RECEIVED SCHOLARSHIPS DURING THIS FISCAL YEAR. 580 1189 EMERGENCY GRANTS FOR STUDENTS WHICH AVERAGED $476 PER GRANT IN THE FISCAL YEAR. THE AMOUNT OF THE GRANT IS DETERMINED BY THE NATURE OF THE EMERGENCY AND THE STUDENT'S CIRCUMSTANCES.APPROXIMATELY 68 STUDENTS RECEIVED EMERGENCY GRANTS DURING THIS FISCAL YEAR 68 476 0 0 0 0 0 0 0 0 0 WES LIVESAY EXECUTIVE DIRECTOR(10.15.23-8.31.24) 142465 0 0 0 0 0 13092 0 7498 0 163055 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B WHEN THE FORM 990 IS COMPLETED, THE EXECUTIVE DIRECTOR REVIEWS THE 990 AND CONFERS WITH THE INDEPENDENT ACCOUNTANT ON QUESTIONS AND/OR CHANGES. THE FORM 990 IS THEN REVIEWED BY THE AUDIT COMMITTEE AND, UPON APPROVAL, IS THEN SENT TO THE FULL BOARD OF DIRECTORS FOR REVIEW AND COMMENT. UPON APPROVAL BY THE FULL BOARD OF DIRECTORS, THE FORM 990 IS FINALIZED AND FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS ADDRESSED AND REVIEWED WITH THE FULL BOARD OF DIRECTORS AT LEAST ANNUALLY WHEN THE ANNUAL POLICY FORM IS SIGNED BY EACH DIRECTOR. THE EXECUTIVE DIRECTOR MONITORS ALL TRANSACTIONS OF THE FOUNDATION AND IF ANY TRANSACTIONS DEAL DIRECTLY OR INDIRECTLY WITH AN OFFICER, DIRECTOR OR AGENT OF THE FOUNDATION, SPECIAL REVIEW IS COMPLETED TO ENSURE CONFLICT OF INTEREST ISSUES ARE ADDRESSED. FORM 990, PART VI, SECTION B, LINE 15 MCLENNAN COMMUNITY COLLEGE PROVIDES ALL THE EMPLOYEES FOR THE FOUNDATION. THE FOUNDATION REIMBURSES THE COLLEGE FOR THE COST FOR THE COORDINATOR OF OPERATIONS AND SCHOLARSHIPS, WHOSE SALARY IS SET BY THE COLLEGE ACCORDING TO THEIR PAY GRADES. THE FOUNDATION DOES NOT REIMBURSE THE COLLEGE FOR ANY OTHER EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 ANY DOCUMENTS WHICH ARE NOT POSTED ON THE FOUNDATION'S WEBSITE ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. INFORMATION ON HOW TO REQUEST SUCH DOCUMENTS IS ON THE WEBSITE AT WWW.MCLENNAN.EDU/FOUNDATION. FORM 990, PART VIII, COMPENSATION OF EXECUTIVE DIRECTOR THE EXECUTIVE DIRECTOR IS PAID BY MCLENNAN COMMUNITY COLLEGE. SIXTY PERCENT OF HIS SALARY IS FOR HIS WORK AS THE EXECUTIVE DIRECTOR OF THE MCLENNAN COMMUNITY COLLEGE FOUNDATION AND FORTY PERCENT IS FOR HIS WORK DIRECTLY FOR THE COLLEGE. THE AMOUNT REPORTED HERE IS THE SIXTY PERCENT THAT RELATES TO HIS WORK AS THE EXECUTIVE DIRECTOR OF THE FOUNDATION. FORM 990, PART XI, LINE 2C: PROCESS FOR OVERSIGHT OF FINANCIAL AUDIT THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR