Des Moines Area Community College Foundation
- Assets
- $21.6m
- Revenue
- $4.4m
- Investments
- $631.1k
- Employees
- 0
- Location
- Ankeny, IA
- Founding
- 11/1972
- Data as of
- 06/2022
- EIN
- 23-7229486
Organization Overview
Des Moines Area Community College Foundation is located in Ankeny, IA. The organization was established in 1972. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Des Moines 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.
For the year ending 06/2022, Des Moines Area Community College Foundation generated $4.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $2.3m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
RECEIVE DONATIONS FOR DMACC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE GRANTS, SCHOLARSHIPS AND OTHER ASSISTANCE TO STUDENTS OF DES MOINES AREA COMMUNITY COLLEGE.
PROVIDE GRANTS AND OTHER ASSISTANCE TO DES MOINES AREA COMMUNITY COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Bennett Vice President | OfficerTrustee | 1 | $0 |
Rita Perea President | OfficerTrustee | 1 | $0 |
Tamara Kenworthy Secretary | OfficerTrustee | 1 | $0 |
Kristi Christensen Treasurer | OfficerTrustee | 1 | $0 |
Ahmed Merchant Member | OfficerTrustee | 1 | $0 |
Tara Connolly Executive Director | Officer | 40 | $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 | $2,782,599 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,782,599 |
| Total Program Service Revenue | $0 |
| Investment income | $1,550,930 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $23,649 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,357,178 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,151,371 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $5,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $11,803 |
| Information technology | $3,902 |
| 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 | $122,672 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,295,698 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,103,187 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $477,453 |
| Accounts receivable, net | $0 |
| 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 | $57,364 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $17,295,801 |
| Investments—other securities | $631,076 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,653 |
| Total assets | $21,577,534 |
| Accounts payable and accrued expenses | $0 |
| 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 | $436,360 |
| Total liabilities | $436,360 |
| Net assets without donor restrictions | $1,398,347 |
| Net assets with donor restrictions | $19,742,827 |
| 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 | $21,577,534 |
Grants Recieved
Over the last fiscal year, we have identified 27 grants that Des Moines Area Community College Foundation has recieved totaling $1,151,484.
| Awarding Organization | Amount |
|---|---|
Goldman Sachs Foundation New York, NY PURPOSE: GRANT TO SUPPORT THE 10,000 SMALL BUSINESSES INITIATIVE IN IOWA. | $514,274 |
Prairie Meadows Race Track & Casino Inc Altoona, IA PURPOSE: Modernization and Renovation of the DMACC Urban Campus | $300,000 |
Northwest Area Foundation St Paul, MN PURPOSE: EVELYN K. DAVIS (EKD) CENTER SUPPORT | $75,000 |
Fred Maytag Family Foundation San Francisco, CA PURPOSE: DMACC FOUNDATION SCHOLARSHIP PROGRAM | $50,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $28,581 |
Prairie Meadows Race Track & Casino Inc Altoona, IA PURPOSE: 2021 DMACC CEO Golf Title Sponsor | $25,000 |
Endowment Analysis
| Beg. Balance | $11,075,374 |
| Earnings | -$1,631,721 |
| Net Contributions | $120,612 |
| Grants | $325,910 |
| Ending Balance | $9,238,334 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Northern School District Tr Nsdt Ashland, WI | $7,100,055 | $19,700,380 |
Plumbers & Steamfitters H & W Trust Iowa State Bank Ttee Des Moines, IA | $75,894,378 | $21,812,028 |
Cristo Rey Network Chicago, IL | $14,102,009 | $11,695,592 |
City Colleges Of Chicago Foundation Chicago, IL | $22,678,364 | $14,327,610 |
Big Ten Academic Alliance Champaign, IL | $13,766,841 | $9,203,675 |
P E O Foundation Des Moines, IA | $140,487,423 | $16,863,604 |
Kidsmart Saint Louis, MO | $4,061,844 | $8,307,759 |
Northwest Foundation Inc Maryville, MO | $55,922,802 | $14,720,589 |
Holy Family Ministries Chicago, IL | $16,241,007 | $8,503,495 |
Drexel Funds Milwaukee, WI | $18,531,220 | $8,522,964 |
North Central States Regional Council Of Carpenters Trng Fund Eau Claire, WI | $10,404,488 | $4,232,713 |
Sand County Foundation Inc Madison, WI | $15,482,706 | $6,154,396 |