Hartnell College Foundation

What it reported doing in 2024

When it was established in 1979, the Hartnell College Foundation's primary focus was on raising funds for student scholarships. Today, the Foundation has expanded its support for the college and its students with resources for scholarships, facilities, workforce development, and innovative programs. Between 2006 and 2012, the Foundation completed the colleges first comprehensive capital campaign in its 85-year history, raising $12 million. The Board and committees were expanded to involve over 250 community leaders. At the end of 2012, the Foundation launched a President's Task Force. This group was comprised of 43 members representing the community and campus leadership. They oversaw a campus-wide needs assessment that identified key initiatives appropriate for private support. These initiatives were the basis of a five-year, $15 million funding plan. From 2012-2019, the Foundation far exceeded its fundraising goal of $15 million by raising $45 million, three times the original target. The Foundation recently organized another community led President's Task Force, which resulted in a funding plan for 2020-2025. The plan includes initiatives for innovative and accelerated programs, student success scholarships and internships, STEM programs and scholarships, including the Computer Science in 3 Years program and K-12 partnerships, the Salinas Valley Promise (guidance, leadership development, life skills training and scholarships for local first time college students), agriculture business and technology, nursing and health sciences, athletics, arts programs, and the expansion of higher education through regional educational centers, online education, and digital equity. The new fundraising goal is $34.1 million.

Financial Efficiency

• Mission deployment rate: 75.5%; rating input score 76
• Program expense ratio: 81.7%; rating input score 82
• Fundraising efficiency: $8.89 raised per $1 spent on fundraising; rating input score 34; 34th percentile among comparable filings

Transparency & Controls

• Consistency checks: 94.1%; rating input score 94; 23rd percentile among comparable filings
• Pay-setting controls: 0 of 6 controls in place; rating input score 0
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Missing
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 92.6%; rating input score 93; 23rd percentile among comparable filings
• Governance controls: 7 of 8 controls in place; rating input score 88
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 13.9%; rating input score 69; 69th percentile among comparable filings
• Total-asset coverage ratio: 6.51; rating input score 87; 87th percentile among comparable filings
• Liabilities to assets ratio: 0.03; rating input score 77; 77th percentile among comparable filings
• Officer compensation ratio: 1.8%; rating input score 77; 77th percentile among comparable filings

Growth

• Program expense growth: 8.9% per year; rating input score 100; 60th percentile among comparable filings
• Revenue growth: 5.7% per year; rating input score 100; 46th percentile among comparable filings
• Asset growth: 13.3% per year; rating input score 100; 70th percentile among comparable filings