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← MITCHELL TECHNICAL INSTITUTE FOUNDATION

Form 990 for tax year 2023

Filed by MITCHELL TECHNICAL INSTITUTE FOUNDATION.

Totals

Total revenue
$1,778,454
Total expenses
$1,832,645
Contributions and grants received
$1,531,048
Grants paid
$1,780,510
Program service revenue
$0
Investment income
$247,406
Other revenue
$0
Total assets, end of year
$6,476,610
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$6,476,610
Program services expenses (Part IX)
$1,780,510
Management and general expenses
$35,459
Fundraising expenses
$16,676
Program service expenses (Part III)
$1,780,510

Program services were 97.2% 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

    $1,531,048

  • 1g · Noncash contributions included above

    $325,187

  • 3 · Investment income

    total $247,406 · related or exempt $241,406 · excluded $6,000

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,555,228 · program services $1,555,228

  • 2 · Grants to domestic individuals

    total $225,282 · program services $225,282

  • 11f · Fees: investment management

    total $35,266 · management and general $35,266

  • 24a · Other expenses: FUNDRAISING EXPENSES

    total $16,676 · fundraising $16,676

  • 24b · Other expenses: BANK FEES

    total $193 · management and general $193

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $20,012 · end of year $21,541

  • 2 · Savings and temporary cash investments

    beginning of year $1,060,341 · end of year $1,060,271

  • 3 · Pledges and grants receivable

    beginning of year $269,100 · end of year $160,900

  • 11 · Investments: publicly traded securities

    beginning of year $4,879,415 · end of year $5,233,898

  • 27 · Net assets without donor restrictions

    beginning of year $1,349,453 · end of year $1,210,812

  • 28 · Net assets with donor restrictions

    beginning of year $4,879,415 · end of year $5,265,798

Mission and programs · 2023

Mission

SUPPORT MITCHELL TECHNICAL COLLEGE IN PROVIDING STUDENTS THE SKILLS FOR SUCCESS IN TECHNICAL CAREERS. THIS IS DONE THROUGH SCHOLARSHIPS FOR STUDENTS AND ACQUISITIONS OF UPDATED EQUIPMENT AND TOOLS TO ENSURE UPDATED CURRICULUM IN ALL PROGRAMS.

Activities or mission (Part I)

THE FOUNDATION'S MISSION IS TO SUPPORT MITCHELL TECHNICAL INSTITUTE IN PROVIDING STUDENTS THE SKILLS FOR SUCCESS IN TECHNICAL CAREERS. THIS IS DONE THROUGH SCHOLARSHIPS FOR STUDENTS AND ACQUISITIONS OF UPDATED EQUIPMENT AND TOOLS TO ENSURE UPDATED CURRICULUM IN ALL PROGRAMS.

  • THE FOUNDATION PROVIDED SUPPORT TO THE PROGRAMS AND INSTRUCTORS OF MITCHELL TECHNICAL COLLEGE WITH BOTH CASH AND NONCASH AWARDS.

    Expenses $1,555,228 · Grants $1,555,228

  • THE FOUNDATION AWARDED 272 SCHOLARSHIPS TO STUDENTS ENROLLED AT MITCHELL TECHNICAL COLLEGE

    Expenses $225,282 · Grants $225,282

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

Listed in Part VII

  • Trent Dowling

    VICE CHAIR

    Total calculated
    $0

  • Cagney Effling

    TRUSTEE

    Total calculated
    $0

  • Nicole Gerlach

    TRUSTEE

    Total calculated
    $0

  • Stacy Giblin

    TRUSTEE

    Total calculated
    $0

  • Mike Pogany

    TRUSTEE

    Total calculated
    $0

  • Devon Russell

    TRUSTEE

    Total calculated
    $0

  • Terry Sabers

    SECRETARY/ T

    Total calculated
    $0

  • Jay Spaans

    TRUSTEE

    Total calculated
    $0

  • Mike Sprang

    CHAIR

    Total calculated
    $0

  • Jared Hofer

    EX-OFFICIO

    Total calculated
    $0

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

  • MITCHELL TECHNICAL COLLEGE

    $1,230,041

    CONTINUING 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.

  • MITCHELL TECHNICAL COLLEGE

    170B1A · EDUCATION · SD

Provenance

Return type
form_990
Tax year
2023
Filed
22 November 2024
IRS schema version
2023v5.0
Source object
202403309349300145

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