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← FERGUS AREA COLLEGE FOUNDATION

Form 990 for tax year 2022

Filed by FERGUS AREA COLLEGE FOUNDATION.

Totals

Total revenue
$636,942
Total expenses
$533,184
Contributions and grants received
$394,598
Grants paid
$286,369
Program service revenue
$0
Investment income
$242,344
Other revenue
$0
Total assets, end of year
$7,038,384
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$7,038,384
Program services expenses (Part IX)
$328,968
Management and general expenses
$53,502
Fundraising expenses
$150,714
Program service expenses (Part III)
$328,968

Program services were 61.7% 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

    $394,598

  • 3 · Investment income

    total $242,344 · excluded $242,344

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $149,806 · program services $149,806

  • 2 · Grants to domestic individuals

    total $136,563 · program services $136,563

  • 11a · Fees: management

    total $171,486 · program services $32,076 · management and general $31,967 · fundraising $107,443

  • 12 · Advertising and promotion

    total $1,648 · program services $1,448 · fundraising $200

  • 13 · Office expenses

    total $3,476 · management and general $1,103 · fundraising $2,373

  • 14 · Information technology

    total $12,438 · management and general $7,538 · fundraising $4,900

  • 16 · Occupancy

    total $45,373 · program services $9,075 · management and general $6,806 · fundraising $29,492

  • 17 · Travel

    total $1,071 · fundraising $1,071

  • 19 · Conferences, conventions and meetings

    total $2,068 · management and general $1,998 · fundraising $70

  • 23 · Insurance

    total $4,090 · management and general $4,090

  • 24a · Other expenses: F/R OTHER EXPENSES

    total $5,165 · fundraising $5,165

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $307,097 · end of year $296,609

  • 2 · Savings and temporary cash investments

    beginning of year $18,034 · end of year $15,860

  • 4 · Accounts receivable

    beginning of year $20,668 · end of year $36,018

  • 11 · Investments: publicly traded securities

    beginning of year $6,263,118 · end of year $6,689,897

  • 27 · Net assets without donor restrictions

    beginning of year $1,033,850 · end of year $1,231,892

  • 28 · Net assets with donor restrictions

    beginning of year $5,575,067 · end of year $5,806,492

Mission and programs · 2022

Mission

THE FERGUS AREA COLLEGE FOUNDATION, A CHARITABLE ORGANIZATION, EXISTS TO PROVIDE FINANCIAL RESOURCES AND ADVOCACY FOR THE DEVELOPMENT AND ADVANCEMENT OF MINNESOTA STATE COMMUNITY AND TECHNICAL COLLEGE, FERGUS FALLS.

  • SCHOLARSHIPS TO MSCTC STUDENTS TO DEFRAY THEIR EDUCATIONAL EXPENSES. STUDENTS RECIEVED AWARDS RANGING FROM 500 TO 5000.

    Expenses $179,162 · Grants $136,563

  • SPECIAL PURPOSE GRANTS AND SUPPORT TO THE COLLEGE COMMUNITY IN THE AREAS OF ACADEMICS, FINE ARTS, ATHLETICS, STUDENT ACTIVITIES, FACILITY ENHANCEMENT, ANNUAL BIGWOOD LECTURE SERIES, BOOSTER CLUB ACTIVITIES, AND GRADUATION AWARDS & RECOGNITION.

    Expenses $149,806 · Grants $149,806

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • MacKenzie Barry

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Paul Lundeen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kent Mattson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lanny Hendrickson

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Mike Walls

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gail Hedstrom

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tony Rendz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Wally Senyk

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Erin Smith

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Jeff Stanislawski

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    2

  • Peg Kalar

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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

  • MINNESOTA STATE COMMUNITY & TECHNIC

    $149,806

    SUPPORT PROGRAMMING

Provenance

Return type
form_990
Tax year
2022
Filed
31 October 2023
IRS schema version
2022v5.0
Source object
202323199349304202

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