MONTGOMERY COLLEGE FOUNDATION

EIN: 521267008 501(c)(3) Education

ROCKVILLE, MD

Total Revenue
$9,776,336
Total Expenses
$7,291,051
Total Assets
$112,783,343
Net Assets
$55,212,461
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Financial Trends

Organization Details

Formation Year
1982
Legal Domicile
MD
Principal Officer
LULADEY HURLEY
Phone
2405677381
Tax Period
2024-07-01 to 2025-06-30

MONTGOMERY COLLEGE FOUNDATION, founded in 1982, is a community nonprofit in the Education sector that reported $9.8M in total revenue in fiscal year 2024. Revenue fell 22% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $2.5M, a strong 25% operating margin.

Mission

MONTGOMERY COLLEGE FOUNDATION PROVIDES CRITICAL FINANCIAL AND NON-FINANCIAL RESOURCES IN ADVANCING THE MONTGOMERY COLLEGE MISSION TO TRANSFORM STUDENT LIVES AND ENRICH THE DIVERSE COMMUNITIES IT SERVES.

Program Service Accomplishments

Program 1
Expenses: $3,350,968 Revenue: $0

SCHOLARSHIPS:THIS YEAR THE MONTGOMERY COLLEGE FOUNDATION WAS ABLE TO DISTRIBUTE OVER $3.3 MILLION IN SCHOLARSHIP AID TO MORE THAN 2,300 STUDENTS. THIS WOULD NOT HAVE BEEN POSSIBLE WITHOUT THE...

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SCHOLARSHIPS:THIS YEAR THE MONTGOMERY COLLEGE FOUNDATION WAS ABLE TO DISTRIBUTE OVER $3.3 MILLION IN SCHOLARSHIP AID TO MORE THAN 2,300 STUDENTS. THIS WOULD NOT HAVE BEEN POSSIBLE WITHOUT THE GENEROSITY AND VISION OF OUR DONORS, WHO RECOGNIZE THAT EDUCATION IS THE KEY TO LIFTING INDIVIDUALS AND FAMILIES OUT OF POVERTY, WHICH IS THE GREATEST BARRIER TO A COLLEGE DEGREE. THROUGH THE GENEROSITY OF OUR DONORS, THE FOUNDATION HAS SUPPORTED NUMEROUS PROGRAMS INCLUDING OUR COMMUNITY-CHANGING ACHIEVING COLLEGIATE EXCELLENCE AND SUCCESS (ACES) PROGRAM, WHICH IS DESIGNED TO REACH THE MOST VULNERABLE STUDENTS IN OUR COMMUNITY. THIS FORWARD-THINKING PROGRAM PROVIDES COACHING SUPPORT TO STUDENTS WHO HAVE BOTH THE DESIRE AND THE CAPACITY TO PURSUE A COLLEGE DEGREE WHILE THEY ARE STILL IN AREA HIGH SCHOOLS IN ORDER TO PREPARE THEM TO ATTEND MONTGOMERY COLLEGE AND, ULTIMATELY, TO RECEIVE THEIR BACHELOR'S DEGREE. THE MONTGOMERY COLLEGE FOUNDATION ALSO PROVIDED SCHOLARSHIPS TO STUDENTS PARTICIPATING IN NURSING AND HEALTHCARE PROGRAMS INCLUDING THOSE IN PURSUIT OF NURSING ASSOCIATES OF SCIENCE DEGREES. THE NURSING & HEALTHCARE PROGRAMS PROVIDE A DYNAMIC LEARNING EXPERIENCE APPLIED TO MEETING THE NEEDS OF INDIVIDUALS THROUGHOUT THE LIFE CYCLE AND ALONG THE HEALTH-ILLNESS CONTINUUM. STUDENTS RECEIVE TRAINING TO PROMOTE WELLNESS, ASSIST WITH RESTORATION AND MAINTENANCE OF HEALTH OR ADAPTATION TO CHRONIC ILLNESS, AND PROVIDE COMFORT TO PATIENTS THROUGH DEDICATED TRAINING IN THE MAJOR AREAS OF NURSING. THE MONTGOMERY COLLEGE FOUNDATION PROVIDED SCHOLARSHIPS TO SUPPORT STUDENTS ENROLLED IN WORKFORCE DEVELOPMENT AND CONTINUING EDUCATION NONCREDIT COURSES, DESIGNED TO ENHANCE BUSINESS AND TECHNICAL SKILLS OR GAIN INDUSTRY CERTIFICATIONS TO ENRICH THE COMMUNITY WORKFORCE. OUR FACULTY AND STAFF ARE DEDICATED TO ENSURING THE COLLEGE FULFILLS ITS MISSION, WHICH IS TO EMPOWER OUR STUDENTS TO CHANGE THEIR LIVES AND ENRICH THE LIFE OF OUR COMMUNITY, AND WE THANK OUR DONORS WHO MAKE THIS POSSIBLE.

Program 2
Expenses: $1,795,761 Revenue: $2,038,828

FACILITIES EXPANSION SUPPORT:THE PURPOSE OF THE FOUNDATION IS TO RAISE FUNDS FOR THE BENEFIT OF AND TO OTHERWISE SUPPORT MONTGOMERY COLLEGE. IN ADDITION, THE FOUNDATION BORROWS FUNDS ON BEHALF OF THE...

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FACILITIES EXPANSION SUPPORT:THE PURPOSE OF THE FOUNDATION IS TO RAISE FUNDS FOR THE BENEFIT OF AND TO OTHERWISE SUPPORT MONTGOMERY COLLEGE. IN ADDITION, THE FOUNDATION BORROWS FUNDS ON BEHALF OF THE COLLEGE TO PURCHASE REAL ESTATE FOR THE USE OF THE COLLEGE OR OTHERWISE IN FURTHERANCE OF THE COLLEGE'S MISSION. THE FOUNDATION HAS PROVIDED ASSISTANCE TO THE COLLEGE THROUGH A SERIES OF MUNICIPAL BOND OFFERINGS. THROUGH THESE PROJECTS, THE COLLEGE HAS BEEN ABLE TO BUILD TWO PARKING GARAGES, PURCHASE TWO BUILDINGS FOR OFFICES AND CLASSROOMS, AND REMODEL A BUILDING TO CREATE AN ART CENTER.

Program 3
Expenses: $1,430,777 Revenue: $0

STUDENT AND FACULTY SUPPORT:THIS YEAR THE MONTGOMERY COLLEGE FOUNDATION WAS ABLE TO DISTRIBUTE OVER $1,400,000 IN GRANTS SUPPORTING A VARIETY OF ACADEMIC PROGRAMS THAT REFLECT THE TALENTS AND...

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STUDENT AND FACULTY SUPPORT:THIS YEAR THE MONTGOMERY COLLEGE FOUNDATION WAS ABLE TO DISTRIBUTE OVER $1,400,000 IN GRANTS SUPPORTING A VARIETY OF ACADEMIC PROGRAMS THAT REFLECT THE TALENTS AND INTERESTS OF MONTGOMERY COLLEGE'S STUDENT BODY INCLUDING, BUT NOT LIMITED TO, OUR GLOBAL HUMANITIES INSTITUTE (GHI), OUR SOUTHERN MANAGEMENT LEADERSHIP PROGRAM AND OUR MACKLIN BUSINESS INSTITUTE (MBI). GHI WAS CREATED TO ENSURE OUR CURRICULA ARE DEVELOPED WITH A GLOBAL PERSPECTIVE IN ORDER TO PREPARE OUR STUDENTS FOR THE NEEDS OF TODAY'S EMPLOYERS. THIS PROGRAM WAS LAUNCHED AFTER WE SECURED A PRESTIGIOUS CHALLENGE GRANT FROM THE NATIONAL ENDOWMENT FOR THE HUMANITIES, WHICH LED TO THE COLLEGE EMBARKING ON A $1 MILLION FUNDRAISING CAMPAIGN. THE SOUTHERN MANAGEMENT LEADERSHIP PROGRAM IS A SCHOLARSHIP INITIATIVE DESIGNED TO EDUCATE OUR STUDENTS WHO HAVE AN INTEREST IN ENTREPRENEURSHIP AND AN ENTHUSIASM FOR STARTING A BUSINESS VENTURE OR LEADING A COMPANY. THE GOAL OF THIS INNOVATIVE PROGRAM IS TO SUPPORT, DEVELOP, AND GRADUATE ETHICAL LEADERS WHO WANT TO ENERGIZE AND GIVE BACK TO THEIR LOCAL COMMUNITIES. ADDITIONALLY, OUR MACKLIN BUSINESS INSTITUTE PROVIDES ITS BUSINESS STUDENTS WITH AN EXPERIENTIAL LEARNING PROGRAM, PROVIDING A HANDS-ON EXPERIENCE IN THE BUSINESS WORLD WITHIN OUR COMMUNITY. BY COUPLING REAL-LIFE EXPERIENCE WITH WHAT STUDENTS ARE LEARNING IN BUSINESS CLASSES, MBI STUDENTS ARE OFTEN BETTER PREPARED TO SUCCEED WHEN THEY TRANSFER TO TOP BUSINESS SCHOOLS. STUDENTS ALSO HAVE ACCESS TO THE STATE OF THE ART MACKLIN FINANCE LAB, WHERE STUDENTS CAN UTILIZE FINANCIAL SOFTWARE USED IN INVESTMENT BANKS, BROKERAGE HOUSES, AND HEDGE FUNDS ON WALL STREET. THIS EXTRAORDINARY OPPORTUNITY FOR STUDENTS IN A COMMUNITY COLLEGE SETTING WAS MADE POSSIBLE THROUGH A $1.22 MILLION DONATION FROM THE MACKLIN FOUNDATION. THE MONTGOMERY COLLEGE FOUNDATION CONTINUES TO SUPPORT STUDENT WITH EMERGENCY NEEDS. THIS YEAR MORE THAN $130,000 WAS PROVIDED IN EMERGENCY ASSISTANCE.

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $5,344,307
Program Service Revenue $2,038,828
Investment Income $2,359,162
Other Revenue $34,039
TOTAL REVENUE $9,776,336

Expense Breakdown

Grants Paid $4,781,745
Salaries & Benefits $0
Fundraising Expenses $355,958
Program Expenses $6,577,506
Other Expenses $2,509,306
TOTAL EXPENSES $7,291,051

Year-over-Year Comparison

2024 2023 Change
Revenue $9,776,336 $12,591,323 -0.2%
Expenses $7,291,051 $6,977,348 +0.0%
Net Income $2,485,285 $5,613,975 -0.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
19
Independent Members
19
Employees
N/A
Volunteers
80

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
6
$409,494
Total Directors
20
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WILLIAM C FOOTE TREASURER 5.00
Officer Director
$0 $0 $0
MARY PAT ALCUS CHAIR 5.00
Officer Director
$0 $0 $0
ERICA L WEBBER VICE CHAIR 5.00
Officer Director
$0 $0 $0
KENNETH H BECKER DIRECTOR 1.00
Director
$0 $0 $0
ASHLEY B CHENG DIRECTOR 1.00
Director
$0 $0 $0
LAUREN CHIN DIRECTOR 1.00
Director
$0 $0 $0
MARTIN P COLBURN DIRECTOR 1.00
Director
$0 $0 $0
KENNETH C COOK DIRECTOR 1.00
Director
$0 $0 $0
ANNE L GUNSTEENS DIRECTOR 1.00
Director
$0 $0 $0
R WILLIAM HARD DIRECTOR 1.00
Director
$0 $0 $0
BILL KEATING DIRECTOR 1.00
Director
$0 $0 $0
LESLIE LEVINE UNTIL 0924 DIRECTOR 1.00
Director
$0 $0 $0
CONNIE O MCGUIRE DIRECTOR 1.00
Director
$0 $0 $0
CRISTINA RABADAN-DIEHL DIRECTOR 1.00
Director
$0 $0 $0
STEVEN V ROBERTS DIRECTOR 1.00
Director
$0 $0 $0
CHRISTOPHER SACA DIRECTOR 1.00
Director
$0 $0 $0
EMAN SAQIB DIRECTOR 1.00
Director
$0 $0 $0
ROBERTA SHULMAN DIRECTOR 1.00
Director
$0 $0 $0
MORGAN SULLIVAN DIRECTOR 1.00
Director
$0 $0 $0
CRISTOPHER J WHITE DIRECTOR 1.00
Director
$0 $0 $0
JOYCE MATTHEWS UNTIL 0125 EXEC DIR/VP OF DEV & ALUMNI RELATIONS 40.00
Officer
$0 $24,122 $227,447
DONNA M PINA DIRECTOR OF FOUNDATION FINANCE 40.00
Officer
$0 $17,755 $182,047
BERNADETTE MALDONADO AS OF 0125 EXEC DIR/VP OF DEV & ALUMNI 40.00
Officer
$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 $9,776,336 $7,291,051 $112,783,343 $2,485,285
2024 $12,591,323 $6,977,348 $113,406,253 $5,613,975
2023 $7,471,758 $7,246,628 $110,856,344 $225,130
2022 $9,502,498 $6,343,229 $114,232,820 $3,159,269
2021 $9,683,948 $6,857,023 $122,079,819 $2,826,925
2020 $10,001,256 $7,483,657 $116,484,013 $2,517,599
2019 $8,143,793 $7,009,939 $120,180,620 $1,133,854
2018 $7,997,707 $7,519,065 $122,235,832 $478,642
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