MIDLANDS TECHNICAL COLLEGE FOUNDATION INC

EIN: 237085753 501(c)(3) Education

COLUMBIA, SC

Total Revenue
$3,800,252
Total Expenses
$1,517,911
Total Assets
$20,549,993
Net Assets
$20,364,538
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1970
Legal Domicile
SC
Principal Officer
NANCY L MCKINNEY
Phone
8037325355
Tax Period
2023-07-01 to 2024-06-30

MIDLANDS TECHNICAL COLLEGE FOUNDATION INC, founded in 1970, is a community nonprofit in the Education sector that reported $3.8M in total revenue in fiscal year 2023. Revenue decreased 16% compared to the prior year. The organization ran a surplus of $2.3M, a strong 60% operating margin.

Mission

TO BUILD MEANINGFUL RELATIONSHIPS WITH DONORS THAT LEAD TO GIFTS THAT SUPPORT THE MISSION OF MIDLANDS TECHNICAL COLLEGE TO PREPARE STUDENTS FOR SUCCESS IN THE WORKFORCE.

Program Service Accomplishments

Program 1
Expenses: $500,111

PROVISION OF SCHOLARSHIPS WHICH ASSIST STUDENTS WITH NEEDED FUNDS TO DEFRAY THE COST OF TUITION AT MIDLANDS TECHNICAL COLLEGE, NONE GREATER THAN 4,000.

Program 2
Expenses: $744,726

ENHANCEMENTS IN SUPPORT OF MIDLANDS TECHNICAL COLLEGE PROGRAMS

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,676,079
Program Service Revenue $0
Investment Income $926,919
Other Revenue $197,254
TOTAL REVENUE $3,800,252

Expense Breakdown

Grants Paid $507,111
Salaries & Benefits $364,232
Fundraising Expenses $126,090
Program Expenses $1,244,837
Other Expenses $646,568
TOTAL EXPENSES $1,517,911

Year-over-Year Comparison

2023 2022 Change
Revenue $3,800,252 $4,512,505 -0.2%
Expenses $1,517,911 $2,337,747 -0.4%
Net Income $2,282,341 $2,174,758 +0.0%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Governance

Voting Members
21
Independent Members
22
Employees
N/A
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✓ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$361,529
Total Directors
22
$361,529
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR RONALD L RHAMES PRES. MID TE 1.00
Officer Director
$135,132 $0 $361,529
JAMES L BRAUN CHAIR 1.00
Officer Director
$0 $0 $0
DAN BRUINSMA TRUSTEE 1.00
Director
$0 $0 $0
CHRISTIAN STORMER CPA TREASURER 2.00
Officer Director
$0 $0 $0
STEPHANIE DEFREESE TRUSTEE 1.00
Director
$0 $0 $0
DAVID E DUBBERLY TRUSTEE 1.00
Director
$0 $0 $0
KRISTI EIDSON TRUSTEE 1.00
Director
$0 $0 $0
JEFFREY GRIFFIN TRUSTEE 1.00
Director
$0 $0 $0
CHERYL HOLLAND TRUSTEE 1.00
Director
$0 $0 $0
JOHN GRIGGS III TRUSTEE 1.00
Director
$0 $0 $0
WILLIS LANGLEY III TRUSTEE 1.00
Director
$0 $0 $0
SANDRA J JACKSON COMMISSION C 1.00
Officer Director
$0 $0 $0
WALTER J JOHNSON TRUSTEE 1.00
Director
$0 $0 $0
ANGELLE LABORDE TRUSTEE 1.00
Director
$0 $0 $0
NANCY L MCKINNEY CEO 40.00
Officer Director
$0 $0 $0
DEREK RAPER TRUSTEE 1.00
Director
$0 $0 $0
JAMES D REYNOLDS TRUSTEE EMER 1.00
Director
$0 $0 $0
VAUGHN K REYNOLDS TRUSTEE 1.00
Director
$0 $0 $0
THOMAS E PERSONS SR TRUSTEE EMER 1.00
Director
$0 $0 $0
DEBBIE WALKER EX OFFICIO 1.00
Director
$0 $0 $0
KATHERINE BLANCHARD WHITTLE TRUSTEE 1.00
Director
$0 $0 $0
CHRIS ZIMMER TRUSTEE 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $3,800,252 $1,517,911 $20,549,993 $2,282,341
2023 $4,512,505 $2,337,747 $17,276,422 $2,174,758
2022 $2,613,811 $1,370,359 $15,088,733 $1,243,452
2021 $2,395,413 $1,121,832 $15,711,907 $1,273,581
2020 $1,074,934 $1,050,534 $12,623,815 $24,400
2019 $1,793,591 $958,281 $12,547,554 $835,310
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