Form 990 for tax year 2024
Filed by FERGUS AREA COLLEGE FOUNDATION.
Totals
- Total revenue
- $1,043,495
- Total expenses
- $682,256
- Contributions and grants received
- $379,433
- Grants paid
- $465,671
- Program service revenue
- $0
- Investment income
- $664,062
- Other revenue
- $0
- Total assets, end of year
- $8,412,930
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $8,412,930
- Program services expenses (Part IX)
- $512,932
- Management and general expenses
- $41,309
- Fundraising expenses
- $128,015
- Program service expenses (Part III)
- $512,932
Program services were 75.2% 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
$379,433
-
3 · Investment income
total $419,693 · excluded $419,693
-
7a · Gross sales of assets other than inventory
securities $3,804,922
-
7b · Less cost or other basis and sales expenses
securities $3,560,553
-
7c · Gain or loss
securities $244,369
-
7d · Net gain or loss
total $244,369 · excluded $244,369
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $274,262 · program services $274,262
-
2 · Grants to domestic individuals
total $191,409 · program services $191,409
-
11a · Fees: management
total $136,026 · program services $27,220 · management and general $20,342 · fundraising $88,464
-
11c · Fees: accounting
total $10,175 · management and general $10,175
-
11g · Fees: other
total $6,486 · program services $4,508 · fundraising $1,978
-
12 · Advertising and promotion
total $1,677 · program services $1,571 · fundraising $106
-
13 · Office expenses
total $5,385 · program services $1,625 · management and general $946 · fundraising $2,814
-
14 · Information technology
total $12,563 · program services $3,500 · management and general $2,752 · fundraising $6,311
-
16 · Occupancy
total $42,295 · program services $8,459 · management and general $6,344 · fundraising $27,492
-
17 · Travel
total $252 · management and general $252
-
19 · Conferences, conventions and meetings
total $1,021 · program services $293 · management and general $498 · fundraising $230
-
24a · Other expenses: F/R OTHER EXPENSES
total $705 · program services $85 · fundraising $620
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $414,550 · end of year $270,864
-
2 · Savings and temporary cash investments
beginning of year $30,226 · end of year $347,468
-
4 · Accounts receivable
beginning of year $17,487 · end of year $128,732
-
11 · Investments: publicly traded securities
beginning of year $7,364,471 · end of year $7,665,866
-
27 · Net assets without donor restrictions
beginning of year $1,685,262 · end of year $1,998,212
-
28 · Net assets with donor restrictions
beginning of year $6,141,472 · end of year $6,414,718
Mission and programs · 2024
Mission
THROUGH THE SUPPORT OF DONORS, FERGUS AREA COLLEGE FOUNDATION PROVIDES RESOURCES TO ENRICH LEARNING, LIVING, WORKING AND SERVING.
-
SCHOLARSHIPS TO MSCTC STUDENTS TO DEFRAY THEIR EDUCATIONAL EXPENSES. STUDENTS RECIEVED AWARDS RANGING FROM 750 TO 8,500.
Expenses $238,670 · Grants $191,409
-
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 $274,262 · Grants $274,262
As filed on the 2024 return.
Listed in Part VII
-
MacKenzie ProvostMACKENZIE PROVOST
PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Jeff StanislawskiJEFF STANISLAWSKI
VICE PRESIDE
- Total calculated
- $0
- Hours/week
- 2
-
Erin SmithERIN SMITH
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Lanny HendricksonLANNY HENDRICKSON
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Gail HedstromGAIL HEDSTROM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Peg KalarPEG KALAR
DIRECTOR
- Total calculated
- $2,200
- From this org
- $2,200
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Paul LundeenPAUL LUNDEEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kent MattsonKENT MATTSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tony RendzTONY RENDZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Wally SenykWALLY SENYK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mike WallsMIKE WALLS
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
$274,262
SUPPORT PROGRAMMING
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.
-
MINNESOTA STATE COMMUNITY & TECHNICAL COLLEGE
501C3 · EDUCATION · MN
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 22 October 2025
- IRS schema version
- 2024v5.0
- Source object
- 202513189349300346
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