North Iowa Area Community College Foundation
- Assets
- $42.7m
- Revenue
- -$2.5m
- Investments
- $0.0
- Employees
- 6
- Location
- Mason City, IA
- Founding
- 04/1969
- Data as of
- 06/2022
- EIN
- 23-7023677
Organization Overview
North Iowa Area Community College Foundation is located in Mason City, IA. The organization was established in 1969. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, North Iowa Area Community College Foundation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Iowa Area Community College Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
RAISE FUNDS TO SUPPORT EDUCATIONAL MISSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SUPPORT FOR SCHOLARSHIPS TO STUDENTS OF THE NORTH IOWA AREA COMMUNITY COLLEGE.
PROVIDE SUPPORT FOR ATHLETIC SCHOLARSHIPS FOR STUDENTS OF THE NORTH IOWA AREA COMMUNITY COLLEGE AND SUPPORT FOR ATHLETIC PROGRAMS SUCH AS GOLF, SOFTBALL, BASEBALL, AND WRESTLING.
JOHN PAPAJOHN ENTREPRENEURIAL CENTER OFFERS BUSINESS TOOLS AND EDUCATIONAL OPPORTUNITIES TO ASSIST IN STARTING A NEW BUSINESS OR EXPANDING AN EXISTING BUSINESS.
OTHER PROGRAMS AND SPECIAL PROJECTS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Barnes Vice Preside | OfficerTrustee | 1 | $0 |
Patricia Sackville President | OfficerTrustee | 1 | $0 |
Noele Beaver Secretary/tr | Officer | 5 | $0 |
Molly Knoll Dir Of Inst | Officer | 15 | $0 |
Jean Brumm Director | Trustee | 1 | $0 |
David Steffens Jr Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,534,526 |
| Noncash contributions included in lines 1a–1f | $88,111 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,534,526 |
| Total Program Service Revenue | $51,166 |
| Investment income | $755,001 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$5,889,193 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$2,548,500 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,195,068 |
| Grants and other assistance to domestic individuals. | $1,064,173 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $169,393 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $162,753 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $15,348 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $28,344 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,905,828 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,130,778 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $875,613 |
| Accounts receivable, net | $51,678 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $783,656 |
| Investments—publicly traded securities | $36,763,965 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $99,145 |
| Total assets | $42,704,835 |
| Accounts payable and accrued expenses | $1,647,227 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,647,227 |
| Net assets without donor restrictions | $5,699,613 |
| Net assets with donor restrictions | $35,357,995 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $42,704,835 |
Grants Awarded
Over the last fiscal year, North Iowa Area Community College Foundation has awarded $972,818 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
NORTH IOWA AREA COMMUNITY COLLEGE PURPOSE: GENERAL SCHOLARSHIPS | $432,908 |
NORTH IOWA AREA COMMUNITY COLLEGE PURPOSE: PAPPAJOHN CENTER | $257,342 |
NORTH IOWA AREA COMMUNITY COLLEGE PURPOSE: MISCELLANEOUS COLLEGE PROGRAMS | $160,509 |
NORTH IOWA AREA COMMUNITY COLLEGE PURPOSE: ATHLETIC SCHOLARSHIPS | $70,000 |
NORTH IOWA AREA COMMUNITY COLLEGE PURPOSE: ATHLETIC PROGRAMS | $32,059 |
NORTH IOWA AREA COMMUNITY COLLEGE PURPOSE: YOUTH ENTREPRENEURIAL ACADEMY | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 16 grants that North Iowa Area Community College Foundation has recieved totaling $356,162.
| Awarding Organization | Amount |
|---|---|
Adams Family Foundation Of Nora Springs Iowa Wilmington, DE PURPOSE: ADAMS FAMILY FOUNDATION OF NORA SPRINGS, IOWA SCHOLARSHIP FUND | $240,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $61,500 |
Ray V Hewitt Foundation Clear Lake, IA PURPOSE: GENERAL DONATION | $12,500 |
Bertha Stebens Charitable Foundation Wilmington, DE PURPOSE: CAPITAL CAMPAIGN | $12,500 |
John & Mary Pappajohn Scholarship Foundation Des Moines, IA PURPOSE: EDUCATIONAL | $10,000 |
Iowa Automobile Dealers Foundation West Des Moines, IA PURPOSE: AUTO TECH PROGRAM FOR HYBRID AND ELECTRIC VEHICLE TRAINING | $6,000 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Umkc Foundation Kansas City, MO | $70,681,044 | $43,162,989 |
University Of Northern Iowa Foundation Cedar Falls, IA | $173,378,893 | $31,725,389 |
Illinois State University Foundation Normal, IL | $269,993,016 | $34,747,700 |
National Assistance Foundation Des Moines, IA | $16,519,301 | $16,875,706 |
Southern Illinois University Foundation Carbondale, IL | $260,208,288 | $31,565,742 |
St Louis Charter Schools St Louis, MO | $19,224,709 | $16,300,473 |
Linda Hall Library Trust Kansas City, MO | $201,287,634 | $7,552,380 |
Sioux Falls Christian Schools Association Sioux Falls, SD | $33,580,780 | $15,294,565 |
University Research Park Inc Madison, WI | $162,117,796 | $19,527,506 |
Private Education-Employers Trust St Louis, MO | $386,613 | $11,502,248 |
Northern Illinois University Foundation Dekalb, IL | $169,106,712 | $31,131,654 |
Grinnell College Medical Benefit Plan Trust Agreement Grinnell, IA | $11,174,588 | $9,791,771 |