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Nonprofiteer
← MILWAUKEE AREA TECHNICAL COLLEGE FOUNDATION INC

Form 990 for tax year 2023

Filed by MILWAUKEE AREA TECHNICAL COLLEGE FOUNDATION INC.

Totals

Total revenue
$16,700,425
Total expenses
$13,839,445
Contributions and grants received
$14,519,026
Grants paid
$13,187,039
Program service revenue
$0
Investment income
$2,134,605
Other revenue
$46,794
Total assets, end of year
$42,802,673
Total liabilities, end of year
$292,801
Net assets or fund balances, end of year
$42,509,872
Program services expenses (Part IX)
$13,312,297
Management and general expenses
$356,451
Fundraising expenses
$170,697
Program service expenses (Part III)
$13,312,297

Program services were 96.2% 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

    $14,519,026

  • 1g · Noncash contributions included above

    $553,862

  • 3 · Investment income

    total $1,105,749 · excluded $1,105,749

  • 7a · Gross sales of assets other than inventory

    securities $13,260,870

  • 7b · Less cost or other basis and sales expenses

    securities $12,232,014

  • 7c · Gain or loss

    securities $1,028,856

  • 7d · Net gain or loss

    total $1,028,856 · excluded $1,028,856

  • 11a · Other revenue: EVENT INCOME

    total $46,794 · related or exempt $46,794

  • 11e · Other revenue, total

    $46,794

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,536,762 · program services $8,536,762

  • 2 · Grants to domestic individuals

    total $4,650,277 · program services $4,650,277

  • 11b · Fees: legal

    total $45,562 · program services $45,562

  • 11c · Fees: accounting

    total $96,620 · management and general $96,620

  • 11f · Fees: investment management

    total $84,719 · management and general $84,719

  • 11g · Fees: other

    total $176,541 · program services $34,849 · management and general $70,990 · fundraising $70,702

  • 12 · Advertising and promotion

    total $32,749 · management and general $32,749

  • 13 · Office expenses

    total $4,670 · management and general $4,670

  • 14 · Information technology

    total $59,884 · program services $24,854 · management and general $30,285 · fundraising $4,745

  • 16 · Occupancy

    total $21,000 · program services $5,250 · management and general $5,250 · fundraising $10,500

  • 19 · Conferences, conventions and meetings

    total $8,730 · program services $2,265 · management and general $6,465

  • 23 · Insurance

    total $10,589 · management and general $10,589

  • 24a · Other expenses: OTHER EXPENSES

    total $80,885 · program services $12,478 · management and general $8,230 · fundraising $60,177

  • 24b · Other expenses: FUNDRAISING AND DEVELOP

    total $24,573 · fundraising $24,573

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $5,884 · management and general $5,884

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $805,523 · end of year $1,756,233

  • 2 · Savings and temporary cash investments

    beginning of year $544,967 · end of year $74,788

  • 3 · Pledges and grants receivable

    beginning of year $1,349,026 · end of year $2,005,026

  • 9 · Prepaid expenses and deferred charges

    beginning of year $55,987 · end of year $32,159

  • 11 · Investments: publicly traded securities

    beginning of year $35,775,306 · end of year $38,934,467

  • 17 · Accounts payable and accrued expenses

    beginning of year $475,980 · end of year $292,801

  • 27 · Net assets without donor restrictions

    beginning of year $1,614,801 · end of year $2,519,734

  • 28 · Net assets with donor restrictions

    beginning of year $36,440,028 · end of year $39,990,138

Mission and programs · 2023

Mission

THE MATC FOUNDATION IS DEDICATED TO CREATING A PROSPEROUS REGION BY EXPANDING ACCESS TO EDUCATION AND ECONOMIC OPPORTUNITIES. AS THE COLLEGE'S PHILANTHROPIC PARTNER, WE BUILD DONOR RELATIONSHIPS TO FACILITATE PRIVATE INVESTMENTS THAT REMOVE BARRIERS TO EDUCATION, ACCELERATE CAREERS, AND DELIVER SKILLED TALENT TO THE MILWAUKEE AREA.

Activities or mission (Part I)

SUPPORT MILWAUKEE AREA TECHNICAL COLLEGE BY RAISING FUNDS FOR SCHOLARSHIPS/PROGRAM SUPPORT.

  • THE FOUNDATION ADMINISTERED $7,453,253 IN CONTRIBUTIONS FOR MILWAUKEE PBS (FORMERLY MILWAUKEE PUBLIC TELEVISION) AND AWARDED $7,453,253 IN PROGRAM SUPPORT. MILWAUKEE PBS IS OWNED AND OPERATED BY MILWAUKEE AREA TECHNICAL COLLEGE (MATC).

    Expenses $7,098,195 · Grants $7,098,195

  • THE FOUNDATION PROVIDED $1,348,000 IN DIRECT PROGRAM SUPPORT TO MILWAUKEE AREA TECHNICAL COLLEGE IN PROGRAM AREAS THAT ARE STRATEGICALLY ALIGNED WITH STUDENTS' GOALS OF PURSUING FAMILY-SUPPORTING CAREERS AND EMPLOYERS' GOALS TO ACCESS A REGIONALLY-BASED, WELL-PREPARED WORKFORCE PIPELINE, INCLUDING SUPPORT FOR THE MATC DRIVE (FORMERLY REV UP)/ AL HURVIS PEAK TRANSPORTATION CENTER, THE EXPANSION OF THE REGISTERED NURSING PROGRAM, AND A PROGRAM THAT COVERED THE FEES FOR BOARD/LICENSE EXAM FEES FOR RECENT GRADUATES OF MATC'S HEALTHCARE PROGRAMS. IN ADDITION, THE FOUNDATION SERVED AS THE CONDUIT FOR $57,832 OF IN-KIND DONATIONS OF MATERIALS AND EQUIPMENT FOR MATC'S PROGRAMS.

    Expenses $1,438,567 · Grants $1,438,567

  • THE FOUNDATION AWARDED $5,199,000 IN SCHOLARSHIPS AND EMERGENCY ASSISTANCE GRANTS, INCLUDING $407,000 TO PROMISE STUDENTS $2,781,000 TO CHECOTA STUDENTS AND $280,000 TO FROEDTERT (HEALTHCARE) STUDENTS. DURING THE 2023/24 SCHOOL YEAR, THE FOUNDATION PROVIDED SUPPORT TO 3,192 STUDENTS.

    Expenses $4,775,535 · Grants $4,650,277

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Chantel Byrd

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Julianna Ebert

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Dave Megna

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Matthew Partridge

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Jamie Berger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Jim Cosco

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Eugene Gilchrist

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Viola Hawkins

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Jaime Hurtado

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Susan Lubar

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Tracy Luber

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Emily Phillips

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Timothy Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Erica Case

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Danielle Bergner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Rajes Namboothiry

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Anthony Cruz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Laura Bray

    EXECUTIVE DIRECTOR

    Total calculated
    $239,372
    From this org
    $0
    From related orgs
    $192,302
    Other
    $47,070
    Hours/week
    15 + 25 related

    Schedule J breakdown matched by us

    Base
    $0 + $192,302 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $13,077 related
    Nontaxable benefits
    $0 + $33,993 related
    Filer's total
    $0 + $239,372 related

  • Jason Flanders

    OPERATIONS DIRECTOR

    Total calculated
    $139,768
    From this org
    $0
    From related orgs
    $109,721
    Other
    $30,047
    Hours/week
    40

  • Virginia Finn

    CHIEF DEVELOPMENT OFFICER

    Total calculated
    $157,823
    From this org
    $0
    From related orgs
    $129,966
    Other
    $27,857
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $129,966 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $8,838 related
    Nontaxable benefits
    $0 + $19,019 related
    Filer's total
    $0 + $157,823 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

  • MILWAUKEE AREA TECHNICAL COLLEGE

    $7,098,195

    MILWAUKEE PBS OPERATING EXPENSES - PAYMENT OF MILWAUKEE PBS INVOICES DIRECTLY TO VENDORS

  • MILWAUKEE AREA TECHNICAL COLLEGE

    $1,433,567

    FOR EDUCATIONAL AND RELATED NEEDS - EQUIPMENT AND MATERIALS; PAYMENT OF PROGRAM INVOICES DIRECTLY

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.

  • MILWAUKEE AREA TECHNICAL COLLEGE

    GOVERNMENTAL UNIT · EDUCATION · WI

Provenance

Return type
form_990
Tax year
2023
Filed
8 February 2025
IRS schema version
2023v6.0
Source object
202520729349300002

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