Minnesota State College Southeast Foundation
- Assets
- $4.4m
- Revenue
- $784.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Winona, MN
- Founding
- 03/1988
- Data as of
- 06/2020
- EIN
- 41-1540247
Organization Overview
Minnesota State College Southeast Foundation is located in Winona, MN. The organization was established in 1988. 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.
For the year ending 06/2020, Minnesota State College Southeast Foundation generated $784.3k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $644.9k during the year ending 06/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST THE COLLEGE IN ACHIEVING EXCELLENCE IN TECHNICAL EDUCATION FOR EMPLOYMENT BY DEVELOPING FINANCIAL AND COMMUNITY RESOURCES FOR STUDENTS, EMPLOYERS AND COMMUNITIES WITHIN OUR SERVICE AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MINNESOTA STATE COLLEGE SOUTHEAST FOUNDATION'S SCHOLARSHIP PROGRAM IS DESIGNED TO INCREASE ACCESS AND AFFORDABILITY TO HIGHER EDUCATION THROUGH THE PROGRAM. OVER THE LAST NINTEEN YEARS MORE THAN $2 MILLION IN SCHOLARSHIPS HAS BEEN AWARDED TO MORE THAN 2,200 STUDENTS. SCHOLARSHIP APPLICATIONS ARE REVIEWED BY MEMBERS OF THE FOUNDATION'S SCHOLARSHIP COMMITTEE, WHICH IS COMPRISED OF COMMUNIUNITY VOLUNTEERS DEDICATED TO REVIEWING MORE THAN 200 APPLICATIONS ANNUALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cherie Burke Secretary/treasurer | OfficerTrustee | 1 | $0 |
Michael Grove President | OfficerTrustee | 1 | $0 |
John Milek Vice President | OfficerTrustee | 1 | $0 |
Lyle Blanchard Director | Trustee | 1 | $0 |
Steve Gudgell Director | Trustee | 1 | $0 |
James Elvidge Ex-Officio | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $518,373 |
| Investment income | $63,944 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $72,000 |
| Net Gain/Loss on Asset Sales | $83,967 |
| Net Income from Fundraising Events | $17,316 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $784,335 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $448,752 |
| 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 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 | $28,735 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,575 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $16,237 |
| Fees for services: Other | $0 |
| Advertising and promotion | $123 |
| Office expenses | $1,428 |
| Information technology | $10,768 |
| Royalties | $0 |
| Occupancy | $24,934 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $613 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,224 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $644,905 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $325,662 |
| Savings and temporary cash investments | $3,066,505 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $10,202 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $14,103 |
| Other assets | $0 |
| Total assets | $4,418,426 |
| Accounts payable and accrued expenses | $713 |
| 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 | $252,142 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $252,855 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $4,165,571 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Minnesota State College Southeast Foundation has recieved totaling $2,500.
| Awarding Organization | Amount |
|---|---|
Winona Foundation Seattle, WA PURPOSE: GENERAL USE | $2,500 |
Endowment Analysis
| Beg. Balance | $963,837 |
| Earnings | $51,827 |
| Net Contributions | $24,603 |
| Other Expense | $33,415 |
| Ending Balance | $1,006,852 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kids In Need Foundation Roseville, MN | $6,769,573 | $65,954,889 |
Plumbers & Steamfitters H & W Trust Iowa State Bank Ttee Des Moines, IA | $57,058,679 | $22,250,808 |
City Forward Collective Inc Milwaukee, WI | $8,650,744 | $2,614,118 |
Drexel Funds Milwaukee, WI | $15,503,287 | $10,554,023 |
Via-Bradely College Of Engineering Foundation Sioux Falls, SD | $27,475,113 | $2,799,186 |
North Central States Regional Council Of Carpenters Trng Fund Eau Claire, WI | $10,247,423 | $3,526,955 |
Sand County Foundation Inc Madison, WI | $10,254,986 | $2,153,007 |
Des Moines Area Community College Foundation Ankeny, IA | $25,871,910 | $3,727,961 |
Madison Area Technical College Foundation Inc Madison, WI | $18,086,376 | $4,862,377 |
Miller Endowment Incorporated Ames, IA | $23,478,795 | $772,086 |
Iowa College Foundation Des Moines, IA | $9,093,601 | $2,030,746 |
Minnesota Private College Fund St Paul, MN | $2,248,438 | $1,588,501 |