2024-02-29T13:37:11-06:00 2023-08-31 742533381 JAYNES REITMEIER BOYD & THERRELL PC 5400 BOSQUE BLVD STE 600 WACO TX 767104459 990 2022-09-01 742550278 MCLENNAN COMMUNITY COLLEGE FOUNDATION ATTN WESLEY LIVESAY MCLE 2542998606 1400 COLLEGE DR WACO TX 76708 WESLEY LIVESAY EXECUTIVE DIRECTOR 2542998606 2024-01-23 1 WESLEY LIVESAY 999009999 0 NANCY A LIVINGSTON P00044678 2547764190 2024-01-23 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z WESLEY LIVESAY 1400 COLLEGE DR WACO TX 76708 8823224 0 X WWW.MCLENNAN.EDU/FOUNDATION X 1985 TX THE MCC FOUNDATION'S MISSION SUPPORTS THE DEVELOPMENT OF FUNDS FOR STUDENT SCHOLARSHIPS, STAFF AND FACULTY PROFESSIONAL DEVELOPMENT, CAMPUS CAPITAL PROJECTS AND STUDENT EMERGENCY NEEDS. 26 26 0 90 0 0 2994378 2898644 0 0 1429571 527197 -1457 -6247 4422492 3419594 2346665 804690 0 0 0 0 0 0 0 90801 103798 2437466 908488 1985026 2511106 29826134 32689605 1466130 91362 28360004 32598243 THE MCC FOUNDATION'S MISSION SUPPORTS THE DEVELOPMENT OF FUNDS FOR STUDENT SCHOLARSHIPS, STAFF AND FACULTY PROFESSIONAL DEVELOPMENT AND CAMPUS CAPITAL NEEDS. 0 0 643399 643399 AWARDS SCHOLARSHIPS TO STUDENTS OF MCLENNAN COMMUNITY COLLEGE TO ENCOURAGE EDUCATIONAL OPPORTUNITIES. IN ADDITION, THE FOUNDATION PROVIDES EMERGENCY GRANTS TO STUDENTS OF MCLENNAN COMMUNITY COLLEGE WHO ENCOUNTER EXTRAORDINARY EVENTS THAT COULD NEGATIVELY AFFECT THEIR ABILITY TO CONTINUE THEIR COLLEGE EDUCATION. THE FOUNDATION ALSO SUPPORTS PAULANNE'S PANTRY TO PROVIDE BASIC FOOD AND HYGIENE ITEMS FOR STUDENTS EXPERIENCING ECONOMIC INSECURITIES. 103055 103055 FUNDS WERE DISTRIBUTED TO MCLENNAN COMMUNITY COLLEGE TO COVER $34,068 IN FACILITIES EXPENSE AND $68,987 IN VARIOUS COLLEGE PROGRAM EXPENSES. 58236 58236 GRANTS TO MCLENNAN COMMUNITY COLLEGE TO BE USED TO FUND PROFESSIONAL DEVELOPMENT CONFERENCES AND CONTINUING EDUCATION FOR FACULTY AND STAFF. 804690 1 1 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 13 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 26 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X WESLEY LIVESAY 2542998604 1400 COLLEGE DR WACO TX 76708 X BETSY REEDER PAST CHAIR 1.00 X X 0 0 0 VIK DEIVANAYAGAM CHAIR 1.00 X X 0 0 0 MARY PEREZ TREASURER 1.00 X X 0 0 0 DR JOHNETTE MCKOWN SECRETARY 1.00 X X 0 0 0 BRIDGET HEINS DIRECTOR 1.00 X 0 0 0 DANA HASSELL VICE-CHAIR 1.00 X X 0 0 0 LEN BROWN DIRECTOR 1.00 X 0 0 0 RICK BROPHY DIRECTOR 1.00 X 0 0 0 DR SANDRA GOSS DIRECTOR 1.00 X 0 0 0 DEIDRA EMERSON DIRECTOR 1.00 X 0 0 0 NELL HAWKINS DIRECTOR 1.00 X 0 0 0 TRAMMELL KELLY DIRECTOR 1.00 X 0 0 0 J DAVID DICKSON DIRECTOR 1.00 X 0 0 0 DONALD LEWIS DIRECTOR 1.00 X 0 0 0 PAUL MCCLINTON DIRECTOR 1.00 X 0 0 0 ANDY HARWELL DIRECTOR 1.00 X 0 0 0 MOSIE HOLLEY DIRECTOR 1.00 X 0 0 0 EARL STINNETT DIRECTOR 1.00 X 0 0 0 HERMANN PEREIRA DIRECTOR 1.00 X 0 0 0 ELISA RAINEY DIRECTOR 1.00 X 0 0 0 DR SHARON SHIELDS DIRECTOR 1.00 X 0 0 0 DEBBIE SARTAIN DIRECTOR 1.00 X 0 0 0 GLENDA STRUM DIRECTOR 1.00 X 0 0 0 DR DIANNE SAWYER DIRECTOR 1.00 X 0 0 0 GENEVA WATLEY DIRECTOR 1.00 X 0 0 0 SHAWN TROCHIM DIRECTOR 1.00 X 0 0 0 KIM PATTERSON EXECUTIVE DIRECTOR 40.00 X 0 125578 0 0 125578 0 0 0 0 0 0 36793 2861851 2898644 541944 541944 5346636 5361383 -14747 -14747 -14747 36000 36793 42247 -6247 -6247 3419594 0 0 520950 182084 182084 622606 622606 29362 29362 GENERAL & ADMINISTRATIV 74436 74436 908488 804690 103798 0 248762 44760 102226 2212930 305230 176668 0 53235 25817255 26439778 3329264 3738541 23397 23693 29826134 32689605 1466130 91362 1466130 91362 X 45473 45473 28314531 32552770 28360004 32598243 29826134 32689605 2511106 1727133 0 X X 0 1 X 1 0 X 938672 1298250 1547789 2994378 2898644 9677733 306930 312712 323746 348078 486602 1778068 1245602 1610962 1871535 3342456 3385246 11455801 3598378 7857423 345722 260506 404073 485502 541944 2037747 6247 6247 13499795 0.58200 0.70140 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 28314531 2817961 2254330 804690 29362 32552770 31491814 2932112 -3732738 2346665 29992 28314531 24707381 1575838 6181652 942822 30235 31491814 21591989 1380774 2671976 822092 50435 24707381 20750231 902054 706057 703479 62874 21591989 0.00000 0.39929 0.60071 1 0 0 LIMITED PARTNERSHIP INTEREST 3738541 F 3738541 X 5603967 1727133 486602 2213735 3390232 29362 29362 3419594 1365728 486602 486602 879126 29362 29362 908488 PART V, LINE 4: MCTHE FOUNDATION'S NET ASSETS WITH DONOR RESTRICTIONS - RESTRICTED IN PERPETUITY CONSIST OF APPROXIMATELY 330 ENDOWMENT FUNDS. THESE DONOR-RESTRICTED ENDOWMENT FUNDS AT AUGUST 31, 2023 AND 2022 HAVE BEEN ESTABLISHED PRINCIPALLY FOR (A) SCHOLARSHIPS (APPROXIMATELY $11,913,000 AND $11,494,000, RESPECTIVELY), (B) A DISTINGUISHED LECTURE SERIES (APPROXIMATELY $506,000 AND $506,000, RESPECTIVELY), (C) MAINTENANCE OF STEINWAY PIANOS OWNED BY THE DISTRICT (APPROXIMATELY $326,000 AND $326,000, RESPECTIVELY), AND (D) OTHER EDUCATIONAL PURPOSES UNDER A TITLE III GRANT (APPROXIMATELY $253,000 AND $253,000, RESPECTIVELY). AS REQUIRED BY PROFESSIONAL STANDARDS, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF DIRECTORS TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. EXPLICIT DONOR STIPULATIONS DEFINE AMOUNTS THAT MAY BE EXPENDED FOR EACH OF THE FOUNDATION'S ENDOWMENTS. AS A RESULT, THE FOUNDATION CLASSIFIES AS DONOR RESTRICTED NET ASSETS (A) THE ORIGINAL VALUE OF GIFTS DONATED TO THE PERMANENT ENDOWMENT, (B) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE PERMANENT ENDOWMENT, AND (C) ACCUMULATIONS (DECREMENTS) TO THE PERMANENT ENDOWMENT MADE IN ACCORDANCE WITH THE DIRECTION OF THE APPLICABLE DONOR GIFT INSTRUMENTS. DONOR RESTRICTED NET ASSETS ARE AVAILABLE FOR THE FOLLOWING SPECIFIC PROGRAMS: SCHOLARSHIPS-$13,994,986; EDUCATIONAL -TITLE III GRANTS- $2,157,262; DISTINQUISHED LECTURE SERIES - $503,810; AND FACILITY IMPROVEMENTS - $2,898,664., FOR A TOTAL OF DONOR RESTRICTED NET ASSETS OF $19,554,722. PART X, LINE 2: FORM 990, PART IV, LINE 11F: THE FOUNDATION QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND, ACCORDINGLY, IS GENERALLY NOT SUBJECT TO FEDERAL INCOME TAX. THE FOUNDATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. RECOGNIZED INCOME TAX POSITIONS ARE MEASURED AT THE LARGEST AMOUNT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED. CHANGES IN THE RECOGNITION OR MEASUREMENT ARE REFLECTED IN THE PERIOD IN WHICH THE CHANGE IN JUDGMENT OCCURS. THE FOUNDATION RECORDS INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN MANAGEMENT AND GENERAL EXPENSES. SCHEDULE D, PART V, LINE 4 - INTENDED USE OF ENDOWMENT FUNDS: THE PERMANENTLY RESTRICTED FUND IS INTENDED FOR SCHOLARSHIPS FOR STUDENTS ATTENDING MCLENNAN COMMUNITY COLLEGE. TEMPORARILY RESTRICTED FUNDS ARE FOR SCHOLARSHIPS AND VARIOUS CAMPUS IMPROVEMENTS INCLUDING THE SCIENCE AND HPC BUILDINGS. SCHEDULE D, PART V, LINE 1D AND 1F: IN YEARS PRIOR TO THE YEAR ENDED AUGUST 31, 2016, ADMINISTRATIVE EXPENSES OF THE ENDOWMENT FUND WERE INCLUDED WITH GRANTS AND SCHOLARSHIPS ON LINE 1D. BEGINNING WITH THE FISCAL YEAR ENDED AUGUST 31, 2016, ADMINISTRATIVE EXPENSES ARE REPORTED SEPARATELY ON LINE 1F. ANNUAL MCC GOLF TOURNAMENT 52693 27893 24800 12301 2887 17508 ANNUAL HEARTS IN THE ARTS-GALA 20100 8900 11200 4919 4632 72793 36793 36000 12301 7806 22140 42247 -6247 1 MCLENNAN COMMUNITY COLLEGE 1400 COLLEGE DRIVE WACO TX 76708 741541260 89780 0 DISTRIBUTED FOR VARIOUS COLLEGE PROGRAM EXPENSES. MCLENNAN COMMUNITY COLLEGE 1400 COLLEGE DRIVE WACO TX 76708 741541260 58236 0 PROFESSIONAL DEVELOPMENT EXPENSES FOR CONFERENCES AND CONTINUING EDUCATION FOR FACULTY AND STAFF MCLENNAN COMMUNITY COLLEGE 1400 COLLEGE DRIVE WACO TX 76708 741541260 34068 0 DISTRIBUTIONS FOR FACILITIES EXPENSES FOR THE COLLEGE. STUDENT SCHOLARSHIPS FOR TUITION/FEES/BOOKS. SCHOLARSHIPS RANGE FROM $250 TO $1,000 PER SEMESTER. APPROXIMATELY 532 STUDENTS RECEIVED SCHOLARSHIPS DURING THIS FISCAL YEAR. 532 1104 EMERGENCY GRANTS FOR STUDENTS WHICH AVERAGED $297 PER GRANT IN THE FISCAL YEAR. THE AMOUNT OF THE GRANT IS DETERMINED BY THE NATURE OF THE EMERGENCY AND THE STUDENT'S CIRCUMSTANCES.APPROXIMATELY 48 STUDENTS RECEIVED EMERGENCY GRANTS DURING THIS FISCAL YEAR 48 297 FORM 990, PART VI, SECTION B, LINE 11B WHEN THE FORM 990 IS COMPLETED, THE EXECUTIVE DIRECTOR REVIEWS THE 990 AND CONFERS WITH THE INDEPENDENT ACCOUNTANT ON QUESTIONS AND/OR CHANGES. THE FORM 990 IS THEN REVIEWED BY THE AUDIT COMMITTEE AND, UPON APPROVAL, IS THEN SENT TO THE FULL BOARD OF DIRECTORS FOR REVIEW AND COMMENT. UPON APPROVAL BY THE FULL BOARD OF DIRECTORS, THE FORM 990 IS FINALIZED AND FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS ADDRESSED AND REVIEWED WITH THE FULL BOARD OF DIRECTORS AT LEAST ANNUALLY WHEN THE ANNUAL POLICY FORM IS SIGNED BY EACH DIRECTOR. THE EXECUTIVE DIRECTOR MONITORS ALL TRANSACTIONS OF THE FOUNDATION AND IF ANY TRANSACTIONS DEAL DIRECTLY OR INDIRECTLY WITH AN OFFICER, DIRECTOR OR AGENT OF THE FOUNDATION, SPECIAL REVIEW IS COMPLETED TO ENSURE CONFLICT OF INTEREST ISSUES ARE ADDRESSED. FORM 990, PART VI, SECTION B, LINE 15 MCLENNAN COMMUNITY COLLEGE PROVIDES ALL THE EMPLOYEES FOR THE FOUNDATION. THE FOUNDATION REIMBURSES THE COLLEGE FOR THE COST FOR THE COORDINATOR OF OPERATIONS AND SCHOLARSHIPS, WHOSE SALARY IS SET BY THE COLLEGE ACCORDING TO THEIR PAY GRADES. THE FOUNDATION DOES NOT REIMBURSE THE COLLEGE FOR ANY OTHER EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 ANY DOCUMENTS WHICH ARE NOT POSTED ON THE FOUNDATION'S WEBSITE ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. INFORMATION ON HOW TO REQUEST SUCH DOCUMENTS IS ON THE WEBSITE AT WWW.MCLENNAN.EDU/FOUNDATION. FORM 990, PART VIII, COMPENSATION OF EXECUTIVE DIRECTOR THE EXECUTIVE DIRECTOR IS PAID BY MCLENNAN COMMUNITY COLLEGE. SIXTY PERCENT OF HER SALARY IS FOR HER WORK AS THE EXECUTIVE DIRECTOR OF THE MCLENNAN COMMUNITY COLLEGE FOUNDATION AND FORTY PERCENT IS FOR HER WORK DIRECTLY FOR THE COLLEGE. THE AMOUNT REPORTED HERE IS THE SIXTY PERCENT THAT RELATES TO HER WORK AS THE EXECUTIVE DIRECTOR OF THE FOUNDATION. FORM 990, PART XI, LINE 2C: PROCESS FOR OVERSIGHT OF FINANCIAL AUDIT THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR