Form 990 for tax year 2022
Filed by LAKESHORE TECHNICAL COLLEGE FOUNDATION INC.
Totals
- Total revenue
- $852,080
- Total expenses
- $2,963,371
- Contributions and grants received
- $694,869
- Grants paid
- $299,659
- Program service revenue
- $46,354
- Investment income
- $72,250
- Other revenue
- $38,607
- Total assets, end of year
- $4,903,776
- Total liabilities, end of year
- $882,557
- Net assets or fund balances, end of year
- $4,021,219
- Program services expenses (Part IX)
- $2,867,512
- Management and general expenses
- $47,400
- Fundraising expenses
- $48,459
- Program service expenses (Part III)
- $2,867,512
Program services were 96.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$694,869
-
1g · Noncash contributions included above
$76,349
-
2a · Program service revenue: PROJECT GRILL
total $44,000 · related or exempt $44,000
-
2b · Program service revenue: OTHER PROGRAMS
total $2,156 · related or exempt $2,156
-
2c · Program service revenue: LTC SCRIP PROGRAM
total $198 · related or exempt $198
-
3 · Investment income
total $104,827 · excluded $104,827
-
7a · Gross sales of assets other than inventory
securities $431,721
-
7b · Less cost or other basis and sales expenses
securities $464,298
-
7c · Gain or loss
securities -$32,577
-
7d · Net gain or loss
total -$32,577 · excluded -$32,577
-
8a · Fundraising events: gross income
$54,400
-
8b · Fundraising events: direct expenses
$15,793
-
8c · Net income from fundraising events
total $38,607 · excluded $38,607
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $299,659 · program services $299,659
-
11f · Fees: investment management
total $36,704 · management and general $36,704
-
13 · Office expenses
total $48,328 · management and general $8,774 · fundraising $39,554
-
20 · Interest
total $21,786 · program services $21,786
-
23 · Insurance
total $1,922 · management and general $1,922
-
24a · Other expenses: PROGRAM SUPPORT
total $2,469,718 · program services $2,469,718
-
24b · Other expenses: DONATED EQUIPMENT
total $76,349 · program services $76,349
-
24c · Other expenses: PUBLIC RELATIONS
total $8,482 · fundraising $8,482
-
24d · Other expenses: MISCELLANEOUS
total $423 · fundraising $423
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $708,421 · end of year $653,570
-
3 · Pledges and grants receivable
beginning of year $1,929,991 · end of year $1,020,492
-
8 · Inventories for sale or use
beginning of year $7,350 · end of year $5,230
-
11 · Investments: publicly traded securities
beginning of year $3,278,480 · end of year $3,224,484
-
17 · Accounts payable and accrued expenses
beginning of year $15,173 · end of year $12,557
-
19 · Deferred revenue
beginning of year $30,750
-
23 · Secured mortgages and notes payable
end of year $870,000
-
27 · Net assets without donor restrictions
beginning of year $901,331 · end of year $866,851
-
28 · Net assets with donor restrictions
beginning of year $4,976,988 · end of year $3,154,368
Mission and programs · 2022
Mission
TO PROVIDE PRIVATE SCHOLARSHIPS AND ASSISTANCE TO STUDENTS FOR EDUCATION.
-
SUPPORT OF INSTRUCTIONAL PROGRAMS/SERVICES: THIS PROGRAM IS TO PROVIDE ADDITIONAL SUPPORT TO THE INSTRUCTIONAL PROGRAMS AND/OR SERVICES OF LAKESHORE TECHNICAL COLLEGE, INCLUDING PROJECT GRILL. THE CENTER FOR HEALTHCARE EXCELLENCE BUILDING EXPANSION WAS THE FOCUS FOR FY22-23 WITH A TOTAL OF $2,400,000.
Expenses $2,491,524 · Revenue $46,354
-
STUDENT SCHOLARSHIPS: PROVIDED SCHOLARSHIP SUPPORT TO STUDENTS AT LAKESHORE TECHNICAL COLLEGE TO ENCOURAGE ENROLLMENT AND RETENTION IN ASSOCIATE DEGREE AND TECHNICAL DIPLOMA PROGRAMS AT THE COLLEGE. AWARD DISBURSEMENTS ARE COORDINATED WITH FINANCIAL AID. SCHOLARSHIPS WERE AWARDED TO 585 STUDENTS.
Expenses $283,765 · Grants $283,765
-
PROPERTY DONATIONS TO THE COLLEGE: THE DONOR-ASSIGNED VALUE OF EQUIPMENT RECEIVED AND TRANSFERRED TO THE COLLEGE. THIS PROGRAM ALLOWS THE COLLEGE TO UPGRADE OR OBTAIN EQUIPMENT FOR INSTRUCTION AND TO REDUCE THE COLLEGE BUDGET REQUIRED FOR SUCH EXPENSES.
Expenses $76,329
-
STUDENT SUPPORT: THROUGH BOARD-APPROVED APPROPRIATIONS, MONETARY SUPPORT WAS PROVIDED TO STUDENTS IN AMOUNTS RANGING FROM $25 TO $500 TO DISLOCATED WORKERS AND OTHER STUDENTS WHO HAVE EXHAUSTED OTHER MEANS OF FINANCIAL AID. STUDENT SUPPORT WAS AWARDED TO 80 STUDENTS TO ASSIST WITH UTILITIES, MORTGAGE OR RENT PAYMENTS, VEHICLE REPAIRS, AND OTHER SCHOOL EXPENSES.
Expenses $15,894 · Grants $15,894
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Ross NiemiROSS NIEMI
PRESIDENT
- Total calculated
- $0
- Hours/week
- 0.5
-
Mike MrdjenovichMIKE MRDJENOVICH
PAST PRESIDENT
- Total calculated
- $0
- Hours/week
- 0.5
-
Bob FitzgeraldBOB FITZGERALD
TREASURER/SECRETARY
- Total calculated
- $0
- Hours/week
- 0.5
-
Paul CarlsenPAUL CARLSEN
EX OFFICIO
- Total calculated
- $0
- Hours/week
- 0.5
-
Lynn CoadyLYNN COADY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Paul WeaverPAUL WEAVER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Jesse BrotzJESSE BROTZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Justin SelleJUSTIN SELLE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Don HammondDON HAMMOND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Sister Jane KinateSISTER JANE KINATE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Mike McEvoyMIKE MCEVOY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Cassie ZinkelCASSIE ZINKEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
John C MillerJOHN C MILLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Jutta FurcaJUTTA FURCA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Lee Van BoxtelLEE VAN BOXTEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Mike Vander ZandenMIKE VANDER ZANDEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Randall RoethelRANDALL ROETHEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Sachin ShivaramSACHIN SHIVARAM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Kristy LiphartKRISTY LIPHART
EXECUTIVE DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
-
LAKESHORE TECHNICAL COLLEGE
$299,659
SCHOLARSHIPS
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 20 February 2024
- IRS schema version
- 2022v5.0
- Source object
- 202420789349300927
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