Minnesota Private College Fund
- Assets
- $2.7m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 0
- Location
- St Paul, MN
- Founding
- 11/1975
- Data as of
- 06/2022
- EIN
- 51-0166951
Organization Overview
Minnesota Private College Fund is located in St Paul, MN. The organization was established in 1975. 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. Minnesota Private College Fund 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, Minnesota Private College Fund generated $2.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.0% each year . All expenses for the organization totaled $1.8m during the year ending 06/2022. While expenses have increased by 3.9% 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.
Since 2015, Minnesota Private College Fund has awarded 136 individual grants totaling $7,378,329. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MINNESOTA PRIVATE COLLEGE FUND SERVES THE SHARED NEEDS OF ITS MEMBERS BY SEEKING PHILANTHROPIC SUPPORT FROM CORPORATIONS, FOUNDATIONS AND OTHERS FOR THE BENEFIT OF ITS MEMBER COLLEGES AND UNIVERSITIES AND THE STUDENTS THEY EDUCATE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION OF FINANCIAL SUPPORT FOR THE 17 MEMBER PRIVATE COLLEGES, THEIR STUDENTS, AND FUND-OPERATED SCHOLARSHIP PROGRAMS THAT SUPPORT STUDENTS AT MEMBER PRIVATE COLLEGES. EVERY DOLLAR RAISED THROUGH FUNDRAISING GOES DIRECTLY TO (1) THE 17 MEMBER INSTITUTIONS IN THE FORM OF GENERAL OPERATING SUPPORT, AND (2) TO STUDENTS ENROLLED IN MEMBER INSTITUTIONS IN THE FORM OF SCHOLARSHIPS. EACH MEMBER INSTITUTION PAYS ANNUAL DUES TO MPCF, WHICH COVER ALL THE FUND'S GENERAL OVERHEAD, FUNDRAISING, AND ADMINISTRATIVE EXPENSES.
THE INNOVATION SCHOLARS PROGRAM IS A COLLABORATIVE PROGRAM OFFERING SELECTED MULTI-DISCIPLINARY TEAMS OF STUDENTS THE OPPORTUNITY TO RESEARCH PROJECTS WITH START-UP AND EARLY-STAGE MEDICAL COMPANIES AND THE MAYO CLINIC. INNOVATION SCHOLARS PROGRAMMING EXPOSES STUDENTS TO THE AMBIGUITIES OF "REAL WORLD" INNOVATION AND ENTREPRENEURSHIP, THE ROLE OF TEAMWORK, CROSS-DISCIPLINARY COLLABORATION, IN-DEPTH RESEARCH, ANALYSIS, AND CREATIVITY. TWELVE INSTITUTIONS AND 55 STUDENTS PARTICIPATED IN 2022.
THE BLACK MEN'S SUCCESS INITIATIVE OFFERS A UNIQUE TWO-YEAR LEADERSHIP PROGRAM FOR BLACK MEN AT OUR MEMBER COLLEGES. THE PROGRAM COMBINES A TWO-YEAR SCHOLARSHIP WITH COMPREHENSIVE ACADEMIC AND PROFESSIONAL ADVISING, CULTURALLY RELEVANT MENTORING, LEADERSHIP DEVELOPMENT, FINANCIAL LITERACY PROGRAMMING, EXPERIENTIAL LEARNING, NETWORKING OPPORTUNITIES WITH BLACK PROFESSIONALS, AND CAREER PREPARATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Lovett Vice Chair | OfficerTrustee | 1 | $0 |
Paul D Cerkvenik President And CEO | OfficerTrustee | 3 | $0 |
Rebecca Bergman Chair | OfficerTrustee | 3 | $0 |
William Craft Secretary/treasurer | OfficerTrustee | 1 | $0 |
Stacey Holland Chief Financial Officer | Officer | 1 | $0 |
Susan Eich 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 | $1,966,666 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,966,666 |
| Total Program Service Revenue | $305,600 |
| Investment income | $128 |
| 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 | $2,274,894 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $969,032 |
| 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 | $8,754 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $678,136 |
| Advertising and promotion | $21,510 |
| Office expenses | $45,913 |
| Information technology | $8,119 |
| Royalties | $0 |
| Occupancy | $8,727 |
| Travel | $43,760 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,125 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,822,850 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,886,205 |
| Pledges and grants receivable | $846,381 |
| 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 | $5,300 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,737,886 |
| Accounts payable and accrued expenses | $46,017 |
| Grants payable | $121,014 |
| 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 | $167,031 |
| Net assets without donor restrictions | $479,794 |
| Net assets with donor restrictions | $2,091,061 |
| 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 | $2,737,886 |
Grants Awarded
Over the last fiscal year, Minnesota Private College Fund has awarded $990,994 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
St Paul, MN PURPOSE: OPERATIONS, STUDENT SCHOLARSHIPS | $198,042 |
Minneapolis, MN PURPOSE: OPERATIONS, STUDENT SCHOLARSHIPS | $154,407 |
St Paul, MN PURPOSE: OPERATIONS, STUDENT SCHOLARSHIPS | $72,305 |
Northfield, MN PURPOSE: OPERATIONS, STUDENT SCHOLARSHIPS | $62,551 |
St Paul, MN PURPOSE: OPERATIONS, STUDENT SCHOLARSHIPS | $57,811 |
Moorhead, MN PURPOSE: OPERATIONS, STUDENT SCHOLARSHIPS | $56,981 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Minnesota Private College Fund has recieved totaling $1,200,958.
| Awarding Organization | Amount |
|---|---|
Ciresi Walburn Foundation For Children Minneapolis, MN PURPOSE: RKMC FOUNDATION FOR CHILDREN SCHOLARSHIP AND CAPACITY BUILDING FOR AFRICAN AMERICAN MEN GRANTS ISSUED | $461,596 |
Jay And Rose Phillips Family Foundation Of Minnesota Minneapolis, MN PURPOSE: EDDIE PHILLIPS SCHOLARSHIP | $230,000 |
Arthur Vining Davis Foundation 2 Pittsburgh, PA PURPOSE: PRIVATE HIGHER EDUCATION | $99,600 |
Arthur Vining Davis Foundation 2 Pittsburgh, PA PURPOSE: PRIVATE HIGHER EDUCATION | $99,600 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $94,062 |
Minneapolis Foundation Minneapolis, MN PURPOSE: EDUCATION | $76,100 |
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 |
P E O Foundation Des Moines, IA | $140,487,423 | $16,863,604 |
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 |
Life Time Foundation Chanhassen, MN | $2,791,059 | $2,904,635 |
City Forward Collective Inc Milwaukee, WI | $6,717,920 | $2,212,895 |
Via-Bradely College Of Engineering Foundation Sioux Falls, SD | $33,602,136 | $3,151,765 |
Madison Area Technical College Foundation Inc Madison, WI | $19,547,707 | $4,171,287 |
Des Moines Area Community College Foundation Ankeny, IA | $21,577,534 | $4,357,178 |
Miller Endowment Incorporated Ames, IA | $22,284,130 | $1,447,422 |