Merced College Foundation
- Assets
- $10.2m
- Revenue
- $2.6m
- Investments
- $6.2m
- Employees
- 0
- Location
- Merced, CA
- Founding
- 07/1974
- Data as of
- 06/2022
- EIN
- 23-7385578
Organization Overview
Merced College Foundation is located in Merced, CA. The organization was established in 1974. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Merced 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, Merced College Foundation generated $2.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.7% each year . All expenses for the organization totaled $1.3m during the year ending 06/2022. While expenses have increased by 6.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
TO ASSIST AND PROMOTE THE EDUCATIONAL SERVICES OF MERCED COMMUNITY COLLEGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORTED PROGRAMS TO ASSIST STUDENTS AT MERCED COMMUNITY COLLEGE.
AWARDED SCHOLARSHIPS AND AWARDS THAT ASSISTED STUDENTS WITH THEIR EDUCATIONAL EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Robinson President | OfficerTrustee | 1 | $0 |
Nanette Villegas Vice President | OfficerTrustee | 1 | $0 |
Kari Ross-May Secretary | OfficerTrustee | 1 | $0 |
Andre Urquidez Treasurer | OfficerTrustee | 1 | $0 |
Sarah Lacko Asmc Rep | Trustee | 1 | $0 |
Bud Wallace 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 | $2,156,685 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,156,685 |
| Total Program Service Revenue | $0 |
| Investment income | $181,697 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $283,572 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,621,954 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $412,873 |
| 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 | $3,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $76,296 |
| Fees for services: Other | $225 |
| Advertising and promotion | $26,036 |
| Office expenses | $794 |
| 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 | $3,698 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,820 |
| All other expenses | $0 |
| Total functional expenses | $1,289,279 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,801,095 |
| Savings and temporary cash investments | $127,247 |
| Pledges and grants receivable | $2,079,876 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $6,158,377 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,166,595 |
| Accounts payable and accrued expenses | $9,877 |
| 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 | $71,795 |
| Total liabilities | $81,672 |
| Net assets without donor restrictions | $313,432 |
| Net assets with donor restrictions | $9,771,491 |
| 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 | $10,166,595 |