Rochester Community & Technical College Foundation

Organization Overview

Rochester Community & Technical College Foundation is located in Rochester, MN. The organization was established in 1996. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., 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. Rochester Community & Technical 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, Rochester Community & Technical College Foundation generated $894.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $375.2k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

RCTC FOUNDATION IMPROVES 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 AMOUNT 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.

Describe the Organization's Program Activity:

Part 3 - Line 4a

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 2022 FISCAL YEAR SCHOLARSHIPS WERE DISBURSED TO APPROXIMATELY 300 STUDENTS.


ROCHESTER COMMUNITY AND TECHNICAL COLLEGE FOUNDATION PROVIDES STUDENT HANDS ON LEARNING. GIFTS-IN-KIND OF PROGRAM EQUIPMENT AND SUPPLIES ARE ALLOCATED TO DIFFERENT DEPARTMENTS AND PROGRAMS TO ASSIST STUDENTS IN HANDS-ON LEARNING.


ROCHESTER COMMUNITY AND TECHNICAL COLLEGE FOUNDATION PROVIDES SUPPORT TO STUDENT CLUBS. FUNDS ARE ALLOCATED TO VARIOUS STUDENT CLUBS ON CAMPUS TO ASSIST IN THE COSTS OF THE ACTIVITIES.


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Board, Officers & Key Employees

Name (title)Compensation
Heather Donovan
Secretary
$0
Pete Roseboom
Treasurer (end 12/31/21)
$0
Markus Lang
Vice President
$0
Alex Lair
President
$0
Tony Joseph
Director
$0
Peggy Vevang
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$11,600
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$475,600
Noncash contributions included in lines 1a–1f $170,665
Total Revenue from Contributions, Gifts, Grants & Similar$487,200
Total Program Service Revenue$0
Investment income $407,564
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $894,764

Grants Recieved

Over the last fiscal year, we have identified 6 grants that Rochester Community & Technical College Foundation has recieved totaling $139,913.

Awarding OrganizationAmount
Rochester Area Foundation

Rochester, MN

PURPOSE: PROGRAM SUPPORT

$76,000
Kamlesh And Luci Chainani Foundation

Mclean, VA

PURPOSE: PROMOTE EXCELLENCE IN EDUCATION.

$45,000
Mightycause Charitable Foundation

Marianna, FL

PURPOSE: UNRESTRICTED

$16,393
The Leonard Rydell Foundation

Grand Forks, ND

PURPOSE: SCHOLARSHIP

$2,000
Park Dental Foundation

Roseville, MN

PURPOSE: GENERAL PURPOSES

$500
Amazonsmile Foundation

Seattle, WA

PURPOSE: GENERAL SUPPORT

$20
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$7,977,959
Earnings-$1,381,158
Admin Expense$44,986
Net Contributions$441,549
Grants$235,697
Ending Balance$6,757,667

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