Form 990 for tax year 2022
Filed by FOUNDATION FOR MOTT COMMUNITY COLLEGE.
Totals
- Total revenue
- $1,266,574
- Total expenses
- $1,037,444
- Contributions and grants received
- $730,753
- Grants paid
- $973,455
- Program service revenue
- $0
- Investment income
- $539,932
- Other revenue
- -$4,111
- Total assets, end of year
- $10,613,057
- Total liabilities, end of year
- $13,904
- Net assets or fund balances, end of year
- $10,599,153
- Program services expenses (Part IX)
- $973,455
- Management and general expenses
- $28,441
- Fundraising expenses
- $35,548
- Program service expenses (Part III)
- $973,455
Program services were 93.8% 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.
-
1c · Fundraising events
$45,100
-
1f · All other contributions, gifts and grants
$685,653
-
3 · Investment income
total $460,470 · excluded $460,470
-
7a · Gross sales of assets other than inventory
securities $2,332,820
-
7b · Less cost or other basis and sales expenses
securities $2,253,358
-
7c · Gain or loss
securities $79,462
-
7d · Net gain or loss
total $79,462 · excluded $79,462
-
8a · Fundraising events: gross income
$53,202
-
8a · Fundraising events: contributions included on line 1c
$45,100
-
8b · Fundraising events: direct expenses
$57,313
-
8c · Net income from fundraising events
total -$4,111 · excluded -$4,111
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $973,455 · program services $973,455
-
11a · Fees: management
total $7,162 · management and general $7,162
-
11c · Fees: accounting
total $10,500 · management and general $10,500
-
11f · Fees: investment management
total $4,673 · fundraising $4,673
-
11g · Fees: other
total $21,732 · fundraising $21,732
-
13 · Office expenses
total $8,532 · fundraising $8,532
-
23 · Insurance
total $3,253 · management and general $3,253
-
24a · Other expenses: MISCELLANEOUS
total $7,268 · management and general $7,268
-
24b · Other expenses: BAD DEBTS
total $611 · fundraising $611
-
24c · Other expenses: LICENSES PERMITS AND FE
total $258 · management and general $258
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $20,766 · end of year $2,506
-
2 · Savings and temporary cash investments
end of year $697,727
-
3 · Pledges and grants receivable
beginning of year $120,264 · end of year $78,266
-
4 · Accounts receivable
beginning of year $89,929 · end of year $93,583
-
9 · Prepaid expenses and deferred charges
beginning of year $4,038 · end of year $0
-
11 · Investments: publicly traded securities
beginning of year $9,571,663 · end of year $9,658,309
-
15 · Other assets
beginning of year $86,565 · end of year $82,666
-
17 · Accounts payable and accrued expenses
beginning of year $9,621 · end of year $9,650
-
19 · Deferred revenue
beginning of year $19,250 · end of year $4,254
-
27 · Net assets without donor restrictions
beginning of year $1,139,939 · end of year $1,202,270
-
28 · Net assets with donor restrictions
beginning of year $8,724,415 · end of year $9,396,883
Mission and programs · 2022
Mission
THE FOUNDATION FOR MOTT COMMUNITY COLLEGE IS A COMMUNITY BASED CHARITABLE ORGANIZATION WHOSE MAJOR PURPOSE IS TO ACQUIRE AND DISTRIBUTE RESOURCES TO THE STUDENTS, FACULTY, AND STAFF OF MOTT COMMUNITY COLLEGE, AS IT CONTRIBUTES TO EDUCATIONAL, LITERARY, MULTICULTURAL, AND FINANCIAL EFFORTS THAT ADVANCE EXCELLENCE AND RICHNESS TO THE COMMUNITY.
-
THE GOAL OF THE FOUNDATION FOR MOTT COMMUNITY COLLEGE (FMCC) IS TO FULLY SUPPORT MOTT COMMUNITY COLLEGE (MCC) IN ITS QUEST FOR FINANCIAL STABILITY, AS IT PROVIDES HIGH QUALITY, ACCESSIBLE AND AFFORDABLE EDUCATIONAL OPPORTUNITIES FOR THE SURROUNDING CITIZENRY. MCC IS THE LARGEST AND MOST ECONOMICAL INSTITUTION IN THE REGION AND TRADITIONALLY RELIES ON PROPERTY TAXES, STATE APPROPRIATIONS AND TUITION TO DERIVE A BALANCED BUDGET WITH THE CREATION OF THE FMCC, A FOURTH FUNDING STREAM OF PRIVATE GIFTING IS ADDED TO THE FUNDING MIX. ALL FUNDRAISING EFFORTS ASSIST MCC IN FULFILLING ITS SCHOLARSHIP AND PROGRAMMATIC GOALS AS WELL AS PROVIDES EMERGENCY FUNDING FOR NONTRADITIONAL STUDENT CRISES. EACH FUNDRAISING OBJECTIVE THAT HAS BEEN DERIVED IS TO SUPPORT MCC AS A LEADING ENTITY IN THE REGION AND AS A VIABLE RESOURCE IN THE COLLEGE TOWN PARTNERSHIP. AS AN UNDER GUIDING PRINCIPLE, THE FMCC IS UNIQUELY POISED TO SUPPORT THE COLLEGE AS IT ALLOWS STUDENTS TO GAIN A SKILL, LAUNCH THE FIRST TWO YEARS OF A BACCALAUREATE, AND RETAIN THOSE WHO ALREADY HAVE A DEGREE AND ARE SEEKING AN ALTERNATIVE CAREER PATHWAY.
Expenses $973,455 · Grants $973,455 · Revenue $1,266,574
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
TERESA MCCLELLAND-SARGENT
CHAIR
- Total calculated
- $0
- Hours/week
- 0.5
-
CLAUDE HIGH JR
IMMEDIATE FORMER CHAIR
- Total calculated
- $0
- Hours/week
- 0.5
-
ARMANDO HERNANDEZ
TREASURER
- Total calculated
- $0
- Hours/week
- 0.5
-
ANTHONY ALEXANDER
1ST VICE CHAIR
- Total calculated
- $0
- Hours/week
- 0.5
-
LEANNE PANDUREN
2ND VICE CHAIR
- Total calculated
- $0
- Hours/week
- 0.5
-
RAFAEL TURNER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
STEVEN DAWES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
REV PHYLLIS MCCREE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
DR PAUL LAFIA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
HAROLD FORD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
ALEX KADIE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
DEAN KEIPERT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
JOHN KRUPP
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
VINCE LORRAINE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
DAVID BRANDT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
BETTY RAMSDELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
JENNIFER TREMAINE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
MICHELLE RAUCH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
DR BEVERLY WALKER-GRIFFEA
DIRECTOR
- Total calculated
- $391,531
- From this org
- $0
- From related orgs
- $292,804
- Other
- $98,727
- Hours/week
- 0.5 + 39.5 related
Schedule J breakdown matched by us
- Base
- $0 + $292,804 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $88,739 related
- Nontaxable benefits
- $0 + $9,988 related
- Filer's total
- $0 + $391,531 related
-
DR RAJAGOPAL SHANTARAM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
HEATHER BURNASH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
KIAIRA MAY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
ASA ZUCCARO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
LENNETTA B CONEY
PRESIDENT
- Total calculated
- $158,499
- From this org
- $0
- From related orgs
- $108,790
- Other
- $49,709
- Hours/week
- 25 + 15 related
Schedule J breakdown matched by us
- Base
- $0 + $108,790 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $32,161 related
- Nontaxable benefits
- $0 + $17,548 related
- Filer's total
- $0 + $158,499 related
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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
$973,455
SCHOLARSHIPS AND PROGRAM SUPPORT
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501(C)(3) · MI
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 3 October 2023
- IRS schema version
- 2022v5.0
- Source object
- 202322869349300342
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