Nonprofit · EIN 23-7315067
MIDLAND COLLEGE FOUNDATION INC
Tax-exempt · MIDLAND, TX 79705
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $10,803,197 | $12,881,727 | -$2,078,530 | $74,104,017 | $2,532,446 | $71,571,571 |
| December 31, 2023 | 990 | $5,548,732 | $19,056,275 | -$13,507,543 | $70,879,363 | $1,201,506 | $69,677,857 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $7,924,296
- Program service revenue
- $0
- Investment income
- $2,000,219
- Royalties
- $878,682
- Other revenue
- $878,682
Expenses
- Grants and similar amounts paid
- $11,715,103
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $6,800
- Program services (functional)
- $11,715,103
- Management and general (functional)
- $1,166,624
Balance sheet and other
- Total assets, start of year
- $70,879,363
- Total assets, end of year
- $74,104,017
- Total liabilities, end of year
- $2,532,446
- Net assets, end of year
- $71,571,571
- Publicly traded securities
- $68,524,584
- Net assets without donor restrictions
- $11,595,913
- Net assets with donor restrictions
- $59,975,658
- Gross receipts
- $10,803,197
- Employees
- 0
- Volunteers
- 52
- Year formed
- 1973
- State of legal domicile
- TX
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ALBERT SHERMAN | DIRECTOR Trustee or director | 1 | $0 |
| ARNULFO CARRASCO MD | DIRECTOR Trustee or director | 1 | $0 |
| BJ BEAL | DIRECTOR Trustee or director | 1 | $0 |
| BECKY FERGUSON | DIRECTOR Trustee or director | 1 | $0 |
| CADELL LIEDTKE | PRESIDENT Trustee or director, Officer | 1 | $0 |
| CHIP SMITH | DIRECTOR Trustee or director | 1 | $0 |
| DAMON KENNEDY | DIRECTOR Trustee or director | 1 | $0 |
| GARY DOUGLAS | DIRECTOR Trustee or director | 1 | $0 |
| H JOSEPH DE COMPIENGNE | DIRECTOR Trustee or director | 1 | $0 |
| JACK BLAKE JR | DIRECTOR Trustee or director | 1 | $0 |
| JACK HARPER | DIRECTOR Trustee or director | 1 | $0 |
| JOHN NORWOOD | DIRECTOR Trustee or director | 1 | $0 |
| JULIA SWALLOW | DIRECTOR Trustee or director | 1 | $0 |
| JULIE EDWARDS | DIRECTOR Trustee or director | 1 | $0 |
| KARMEN H BRYANT | DIRECTOR Trustee or director | 1 | $0 |
10 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| LINDA COWDEN | SECRETARY Trustee or director, Officer | 1 | $0 |
| MIKE OESTMANN | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| PAUL MORROW | DIRECTOR Trustee or director | 1 | $0 |
| RICHARD COATS | TREASURER Trustee or director, Officer | 1 | $0 |
| SCOTT KIDWELL | DIRECTOR Trustee or director | 1 | $0 |
| TAYLOR MAYNE | DIRECTOR Trustee or director | 1 | $0 |
| TRAVIS STICE | DIRECTOR Trustee or director | 1 | $0 |
| TRICIA MICHIE | DIRECTOR Trustee or director | 1 | $0 |
| WILLIAM DINGUS | DIRECTOR Trustee or director | 1 | $0 |
| WORD WILSON | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 25 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ALBERT SHERMAN | DIRECTOR Trustee or director | 1 | $0 |
| ARNULFO CARRASCO MD | DIRECTOR Trustee or director | 1 | $0 |
| BJ BEAL | DIRECTOR Trustee or director | 1 | $0 |
| BECKY FERGUSON | DIRECTOR Trustee or director | 1 | $0 |
| CADELL LIEDTKE | PRESIDENT Trustee or director, Officer | 1 | $0 |
| CHIP SMITH | DIRECTOR Trustee or director | 1 | $0 |
| DAMON KENNEDY | DIRECTOR Trustee or director | 1 | $0 |
| GARY DOUGLAS | DIRECTOR Trustee or director | 1 | $0 |
| H JOSEPH DE COMPIENGNE | DIRECTOR Trustee or director | 1 | $0 |
| JACK BLAKE JR | DIRECTOR Trustee or director | 1 | $0 |
| JACK HARPER | DIRECTOR Trustee or director | 1 | $0 |
| JOHN NORWOOD | DIRECTOR Trustee or director | 1 | $0 |
| JULIA SWALLOW | DIRECTOR Trustee or director | 1 | $0 |
| JULIE EDWARDS | DIRECTOR Trustee or director | 1 | $0 |
| KARMEN H BRYANT | DIRECTOR Trustee or director | 1 | $0 |
| LINDA COWDEN | SECRETARY Trustee or director, Officer | 1 | $0 |
| MIKE OESTMANN | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| PAUL MORROW | DIRECTOR Trustee or director | 1 | $0 |
| RICHARD COATS | TREASURER Trustee or director, Officer | 1 | $0 |
| SCOTT KIDWELL | DIRECTOR Trustee or director | 1 | $0 |
| TAYLOR MAYNE | DIRECTOR Trustee or director | 1 | $0 |
| TRAVIS STICE | DIRECTOR Trustee or director | 1 | $0 |
| TRICIA MICHIE | DIRECTOR Trustee or director | 1 | $0 |
| WILLIAM DINGUS | DIRECTOR Trustee or director | 1 | $0 |
| WORD WILSON | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 3600 N GARFIELD ST, MIDLAND, TX 79705-6329
- In care of
- % TEXAS COMMERCE BANK N A
- Principal officer (990 for 2024)
- JEFFREY CHAMBERS CPA, 3600 N GARFIELD, MIDLAND, TX 79705
- Signed the 990
- JEFFREY CHAMBERS, VP - ADMIN SERVICES
- Phone
- (432) 684-7851
- Return prepared by
- WHITLEY PENN LLP
Mission
MIDLAND COLLEGE FOUNDATION, INC. IS A NON-PROFIT ORGANIZATION ESTABLISHED TO PROVIDE SUPPORT FOR THE EDUCATIONAL GOALS OF MIDLAND COLLEGE AND ITS STUDENTS.
Program accomplishments
- PAYMENTS MADE TO MIDLAND COLLEGE FOR THE OPERATING BUDGET AND FUND MIDLAND COLLEGE SCHOLARSHIPSExpenses $11,715,103 · grants $11,715,103
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 23-7315067
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1973
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B110)
- Assets (IRS master file)
- $74,104,017
- Income (IRS master file)
- $10,803,197
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $10,803,197 | $12,881,727 | $74,104,017 | XML |
| 990 | December 2023 | $5,548,732 | $19,056,275 | $70,879,363 | XML |
| 990 | December 2022 | $33,003,754 | $16,689,584 | $78,503,013 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 23-7315067).
Questions about MIDLAND COLLEGE FOUNDATION INC
- What is the EIN of MIDLAND COLLEGE FOUNDATION INC?
- The employer identification number (EIN) of MIDLAND COLLEGE FOUNDATION INC is 23-7315067.
- Is MIDLAND COLLEGE FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1973.
- Are donations to MIDLAND COLLEGE FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MIDLAND COLLEGE FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MIDLAND COLLEGE FOUNDATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MIDLAND COLLEGE FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of MIDLAND COLLEGE FOUNDATION INC?
- The 990 for the year ended December 31, 2024 names JEFFREY CHAMBERS CPA.
- Who are the officers and directors of MIDLAND COLLEGE FOUNDATION INC?
- The 990 for the year ended December 31, 2024 lists 25 people; 0 received compensation from the organization.
- How much revenue does MIDLAND COLLEGE FOUNDATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $10,803,197, expenses of $12,881,727 and total assets of $74,104,017 at year end.
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