Minneapolis Community and Technical College Foundation
The purpose of the Minneapolis Community and Technical College Foundation is to provide financial assistance and educational support to students of need who attend Minneapolis Community and Technical College.
Mission Statement
Review Completed: 1/25/2011
1501 Hennepin Avenue Minneapolis, MN 55403
Phone: (612)659-6316
Fax: (612)659-6226
| Other Names Used |
MCTC Foundation |
| EIN |
41-1288502 |
| Principal Staff |
Reede Webster, Executive Director |
| Number of Full-Time Equivalents (FTE) |
4 |
| Number of Volunteers |
200 |
| Number of Clients Served |
300 |
General Information
| Board Chair |
Ramona Harristhal |
| Number of Board Members |
19 |
| Board meetings with quorum |
5 |
| Average Member Attendance at Board Meetings |
9.2 |
| Publicly Available Documents |
Most Recent 990
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Most Recent Audit
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Board
Accomplishments
In fiscal year 2010, revenues exceeded $1 million and our net assets increased by roughly $200,000 to nearly $3.3 million. The MCTC Foundation delivered over $400,000 in scholarships to low-income academically talented students. In addition, we received donations from over 200 alumni.
The MCTC Foundation hosted the 20th annual MLK "Celebrate the Dream" tribute in January 2010.
In May 2010, the MCTC Foundation held its 2nd Annual Power of GIVING Luncheon. Nearly, 300 people attended and we raised $90,000 for scholarships.
We achieved our fundraising goal by raising over $5.5 million for the Power of YOU program. The Power of YOU has now provided nearly 2,000 low-income students the opportunity of two years of of tuition-free college.
Current Goals
Our goal for fiscal year 2011 is to award $350,000 in scholarships and to continue to fundraise for the Power of YOU as well as other programs such as JumpStart to College and our annual MLK event.
We are in the planning stages for the college's Retention and Graduation Initiative fundraising.
Community or Constituency Served
Students from the metro area ranging in age from 18 - 65
Geographic Area Served
Twin Cities area
Impact and Programs
3 Year Average Expenses
| Program Services: |
$616,083 |
88.3% |
| Management: |
$60,369 |
8.7% |
| Fundraising: |
$21,285 |
3.1% |
Unrestricted Net Assets
|
2008 |
2007 |
2006 |
| End of Year: |
$1,083,978 |
$164,446 |
$130,366 |
| Beginning of Year |
$164,446 |
$130,366 |
$237,143 |
| Difference |
$919,532 |
$34,080 |
($106,777) |
| Unrestricted Net Assets (End of Year), Current 990 |
$1,083,978 |
| Based on information provided on 2006 to 2008 |
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Financials
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