Mct Endowment Corporation

Nonprofit profile at a glance

EIN
830754325
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Midland, TX, USA
Phone
4326822544
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Private Grantmaking Foundations

Reported finances

Revenue
$498,587
Expenses
$184,744
Assets
$9,079,177
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • ANN HANKINS (President)

People named in this filing

  • MICHAEL BLONKVIST (Director)
  • LEON JEFFCOAT (Treasurer)
  • CHRIS HALL (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

MCTEC is organized to oversee, manage and grow the endowment resources for thelong-term stability and sole benefit of the Midland Community Theatre of Midland, Texas and is an organization no part of the net earnings of which inures to benefit any private shareholder, member or individual, no substantial part of the activities of which is carrying propaganda, or othenvise attempting to influence legislation, and which does not participate in or intervene in any political campaign on behalf of any candidate for public office.

What it reported doing in 2024

Specifically the Corporation is organized to engage directly in the support ofcharitable, educational, and scientific purposes in support of the Midland Community Theatre of Midland, Texas, all in compliance with the Corporation's Tax Exempt status. Within the scope of the foregoing purposes and not by limitation thereof, the Corporation is organized to oversee, manage and grow the endowment resources for the long-term stability and sole benefit of the Midland Community Theatre of Midland, Tx.

Operating model

Revenue model
Investment-supported. 79% of the money available for current operations came from recurring investment income.
Distribution model
Affiliate network. The nonprofit sent 100% of its reported program spending through affiliated organizations.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 53
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 91
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 41.3%; rating input score 41
  • Program expense ratio: 92.5%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 62.9%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 49.14; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 4.7% per year; rating input score 100; 53rd percentile among comparable filings
  • Revenue growth: -3.2% per year; rating input score 0; 14th percentile among comparable filings
  • Asset growth: 6.4% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 41.3% of revenue deployed · 92.5% of spending went to programs
  • Governance: 7 of 7 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $171K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 41/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.