2024-12-20T10:04:42-06:00 2024-06-30 390912608 HAWKINS ASH CPAS LLP 3720 NOTTINGHAM DR NW SUITE 100 ROCHESTER MN 55901 990 2023-07-01 411535213 ROCHESTER COMMUNITY AND TECHNICAL COLLEGE FOUNDATION ROCH 5072817770 851 30TH AVE SE ROCHESTER MN 55904 ALEX BRAINARD PRESIDENT 5072817770 2024-12-19 1 1 DAVID FOCHS P01418849 5074241233 2024-12-18 2023 2024-10-15 13:58:12Z ALEX BRAINARD 851 30TH AVE SE ROCHESTER MN 55904 869465 0 X WWW.RCTC.EDU/FOUNDATION X 1961 MN RCTC FOUNDATION IMPROVES THE LIVES WITH THE SUPPORT OF QUALITY, AFFORDABLE, ACCESSIBLE HIGHER EDUCATION. WE RAISE FUNDS TO SUPPORT SCHOLARSHIPS, STUDENT BASIC NEEDS, ENHANCE QUALITY ACADEMICS, ENRICH CAMPUS LIFE WITH ATHLETICS AND ARTS, AND MAKE STRATEGIC INVESTMENTS IN OUR STUDENTS AND COLLEGE. THROUGH ACTIVE, ONGOING CAMPAIGNS TO PROMOTE PHILANTHROPY IN THE COMMUNITY, THE FOUNDATION AIMS TO GROW A DIVERSE POOL OF RESOURCES SUFFICIENT TO PROVIDE AFFORDABLE EDUCATION FOR ALL STUDENTS, ADD VALUE AND EXCELLENCE TO THE PROGRAMS OFFERED AT RCTC AND HELP INSULATE THE INSTITUTION FROM FUTURE ECONOMIC AND POLITICAL FORCES BY HELPING TO FILL GAPS IN STATE FUNDING. THE FOUNDATION BELIEVES THAT NO STUDENT SHOULD BE TURNED AWAY FROM RCTC DUE TO AN INABILITY TO PAY TUITION. 15 15 0 95 0 0 604959 624833 0 0 231537 237275 -10204 -2410 826292 859698 327736 426673 0 0 0 0 0 0 6243 83112 92651 410848 519324 415444 340374 8023336 9126240 148309 50000 7875027 9076240 IMPROVE LIVES WITH THE SUPPORT OF QUALITY, AFFORDABLE, ACCESSIBLE HIGHER EDUCATION. 0 0 381411 372404 ROCHESTER COMMUNITY AND TECHNICAL COLLEGE FOUNDATION OFFERS A SCHOLARSHIP PROGRAM. THIS PROGRAM WORKS WITH NUMEROUS DONORS TO PROVIDE SCHOLARSHIPS FOR NEW, RETURNING, AND GRADUATING RCTC STUDENTS. DURING THE 2024 FISCAL YEAR, SCHOLARSHIPS WERE DISBURSED TO APPROXIMATELY 386 STUDENTS. 55859 54269 ROCHESTER COMMUNITY AND TECHNICAL COLLEGE FOUNDATION INVESTS IN PROGRAMS TO DELIVERY HIGH QUALITY EDUCATION AND TO HELP OUR STUDENTS SUCCEED. THIS INCLUDES GRANTS TO EMPOWER FACULTY AND STAFF TO EXPAND AND ENHANCE QUALITY EDUCATION AND SUPPORTING STUDENT BASIC NEEDS (FOOD PANTRY, EMERGENCY GRANTS, EMERGENCY MENTAL HEALTH COUNSELLING). IN ADDITION, WE SUPPORT A VIBRANT COLLEGE EXPERIENCE THROUGH SUPPORT FOR ATHLETICS, FINE ARTS AND STUDENT CLUB ACTIVITIES. ROCHESTER COMMUNITY AND TECHNICAL COLLEGE FOUNDATION PROVIDES STUDENT HANDS ON LEARNING. GIFTS-IN-KIND OF PROGRAM EQUIPMENT AND SUPPLIES ASSIST STUDENTS IN HANDS-ON LEARNING AND ENSURE STUDENTS ARE "WORK-READY" WITH ACCESS TO THE LATEST TECHNOLOGY IN THE WORKPLACE. 437270 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 X 3 0 1 0 0 0 0 0 0 0 0 1 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 MN X KRISTIN MANNIX 5072817770 851 30TH AVENUE SE ROCHESTER MN 55904 X MARKUS LANG PRESIDENT 1.00 X X 0 0 0 ALEX BRAINARD VICE PRESIDENT 1.00 X X 0 0 0 ALEX LAIR TREASURER 1.00 X X 0 0 0 JONATHAN KRULL SECRETARY 1.00 X X 0 0 0 ALLY HANTEN EBERT DIRECTOR 0.50 X 0 0 0 ANTHONY ZUCCO DIRECTOR 0.50 X 0 0 0 BEN TILSON DIRECTOR 0.50 X 0 0 0 HEATHER DONOVAN DIRECTOR 0.50 X 0 0 0 LAURA SHEEHAN DIRECTOR 0.50 X 0 0 0 THU PARK DIRECTOR 0.50 X 0 0 0 PAULETTE TEIGEN DIRECTOR 0.50 X 0 0 0 ZEN KUZYK DIRECTOR 0.50 X 0 0 0 JEFF EIGENHEER DIRECTOR 0.50 X 0 0 0 SARA MESSINA DIRECTOR 0.50 X 0 0 0 EMILY TAYLOR DIRECTOR 0.50 X 0 0 0 0 0 0 0 0 0 0 0 51435 573398 624833 237275 237275 7357 51435 9767 -2410 -2410 859698 0 0 234865 426673 426673 20200 20200 25 25 17850 17850 24023 24023 16447 4858 10495 1094 11368 5739 480 5149 2738 2738 519324 437270 75811 6243 437520 811658 16873 43966 1427 7176 7176 0 0 7510408 8313155 14569 8023336 9126240 6294 142015 50000 148309 50000 X 77918 140731 7797109 8935509 7875027 9076240 8023336 9126240 340374 758923 101916 0 X X 0 1 X 1 0 X 219439 302184 487200 604959 624833 2238615 219439 302184 487200 604959 624833 2238615 2238615 178687 204078 407564 231537 237275 1259141 26601 26601 3524357 0.63520 0.57710 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7809499 560373 972175 441242 8900805 6757667 557967 819459 325594 7809499 7977959 441549 -1381158 235697 44986 6757667 6481086 142436 1608809 254372 7977959 6704358 158215 -10092 371395 6481086 0.00000 0.65000 0.35000 0 0 7176 7176 0 0 FUNDS, EQUIPMENT & SUPPLIES HELD FOR THE BENEFIT OF OTHERS 50000 50000 X 1823205 758923 218840 9767 987530 835675 24023 24023 859698 723908 218840 9767 228607 495301 24023 24023 519324 PART X, LINE 2: ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES - U.S. GAAP REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE FOUNDATION AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE FOUNDATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY A TAXING AUTHORITY. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION AND HAS CONCLUDED THAT AS OF JUNE 30, 2024 AND 2023, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS, HOWEVER, THERE ARE CURRENTLY NO AUDITS IN PROGRESS FOR ANY TAX PERIOD. THE FOUNDATION WILL RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING PART V, LINE 4 ROCHESTER COMMUNITY AND TECHNICAL COLLEGE FOUNDATION HAS ENDOWMENT FUNDS TO PROVIDE SCHOLARSHIPS AND SUPPORT TO STUDENTS AND PROGRAMS AT ROCHESTER COMMUNITY AND TECHNICAL COLLEGE. PART X, LINE 2 THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES AS A TAX-EXEMPT ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT FOR INCOME ON CERTAIN UNRELATED BUSINESS INCOME. AT JUNE 30, 2024 THERE IS NO MATERIAL AMOUNT OF UNRELATED BUSINESS INCOME. THE FOUNDATION IS ALSO EXEMPT FROM STATE INCOME TAXES UNDER APPLICABLE MINNESOTA STATUTES. OAKS EVENT DINNER 58792 51435 7357 9767 58792 51435 7357 9767 9767 -2410 1 SCHOLARSHIPS 386 372404 PART I, LINE 2 STUDENTS APPLY FOR SCHOLARSHIPS USING THE ONLINE PORTAL. THE PORTAL IS OPEN FOR APPROXIMATELY 10 WEEKS. THE SCHOLARSHIP SELECTION COMMITTEE (APPROXIMATELY 15 PEOPLE) LOOK AT THE APPLICATIONS AND THEN SCORE THEM. THERE ARE TWO REVIEWERS FOR EVERY APPLICANT. FOUNDATION STAFF THEN GO THROUGH AND AWARD SCHOLARSHIPS BASED ON RANKING. A MAXIMUM OF TWO SCHOLARSHIPS PER APPLICANT IS AWARDED SO A LARGER POOL OF STUDENTS HAVE AN OPPORTUNITY TO RECEIVE ONE. FORM 990, PART V, LINE 7H ROCHESTER COMMUNITY AND TECHNICAL COLLEGE FOUNDATION RECEIVES CONTRIBUTIONS OF CARS FOR WHICH THEY ISSUE 1098-C'S. THESE CAR CONTRIBUTIONS ARE HELD FOR THE BENEFIT OF ANOTHER ORGANIZATION AND THEREFORE IS NOT REPORTED AS CONTRIBUTION REVENUE. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING FORM 990, IT IS REVIEWED BY THE FOUNDATION TREASURER WITH A SUMMARY OF FORM 990 PRESENTED TO THE FOUNDATION BOARD OF DIRECTORS DURING A MONTHLY MEETING. COPIES OF FORM 990 ARE MADE AVAILABLE TO EACH BOARD MEMBER. FORM 990, PART VI, SECTION B, LINE 12C ALL CONFLICTS OF INTEREST ARE NOT NECESSARILY PROHIBITED OR HARMFUL TO THE RCTC FOUNDATION. HOWEVER, FULL DISCLOSURE OF ALL ACTUAL AND POTENTIAL CONFLICTS, AND A DETERMINATION BY THE DISINTERESTED BOARD (OR RCTC FOUNDATION'S EXECUTIVE COMMITTEE) MEMBERS - WITH THE INTERESTED BOARD MEMBER(S) RECUSED FROM PARTICIPATING IN DEBATES AND VOTING ON THE MATTER - ARE REQUIRED. ALL ACTUAL AND POTENTIAL CONFLICTS OF INTERESTS SHALL BE DISCLOSED BY BOARD MEMBERS TO THE RCTC FOUNDATION EXECUTIVE COMMITTEE THROUGH AN ANNUAL DISCLOSURE FORM AND/OR TO THE BOARD WHENEVER A CONFLICT ARISES. DISINTERESTED MEMBERS OF THE RCTC FOUNDATION EXECUTIVE COMMITTEE SHALL MAKE A DETERMINATION AS TO WHETHER A PROHIBITED CONFLICT EXISTS AND WHAT SUBSEQUENT ACTION IS APPROPRIATE (IF ANY). THE RCTC FOUNDATION EXECUTIVE COMMITTEE SHALL INFORM THE BOARD OF SUCH DETERMINATION AND ACTION. THE BOARD SHALL RETAIN THE RIGHT TO MODIFY OR REVERSE SUCH DETERMINATION AND ACTION AND SHALL RETAIN THE ULTIMATE ENFORCEMENT AUTHORITY WITH RESPECT TO THE INTERPRETATION AND APPLICATION OF THIS POLICY . ON AN ANNUAL BASIS, ALL BOARD MEMBERS SHALL BE PROVIDED WITH A COPY OF THIS POLICY AND REQUIRED TO COMPLETE AND SIGN THE ACKNOWLEDGEMENT AND DISCLOSURE FORM BELOW. ALL COMPLETE FORMS SHALL BE PROVIDED TO AND REVIEWED BY THE RCTC FOUNDATION EXECUTIVE COMMITTEE, AS WELL AS ALL OTHER CONFLICT INFORMATION, IF ANY, PROVIDED BY BOARD MEMBERS. FORM 990, PART VI, SECTION C, LINE 18 INTERESTED PERSONS ARE ENCOURAGED TO REACH OUT TO THE FOUNDATION OFFICE FOR A COPY OF THE FORMS. FORM 990, PART VI, SECTION C, LINE 19 THE PUBLIC IS ENCOURAGED TO CONTACT THE FOUNDATION IN PERSON TO REQUEST DOCUMENTATION. FORM 990, PART XII, LINE 2C THE ORGANIZATION DID NOT CHANGE THE OVERSIGHT AND SELECTION PROCESS FROM THE PRIOR TAX YEAR.