Midlands Technical College Foundation Inc

Nonprofit profile at a glance

EIN
237085753
IRS 990 coverage
2014–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Columbia, SC, USA
Phone
8037325355
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,875,978
Expenses
$1,835,417
Assets
$21,358,676
Liabilities
$111,560

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

Leadership & pay

23 people listed

Executive titles in this filing

  • NANCY L MCKINNEY (CEO)

Highest reported compensation

  • DR GREGORY LITTLE (PRES. MID TE): $180,802 total reported compensation

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

Overview

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.

What it reported doing in 2024

Provision of scholarships which assist students with needed funds to defray the cost of tuition at midlands technical college, none greater than 4,000.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 59% for direct work, and 41% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 75
  • Accountability: 84
  • Sustainability: 62
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98%; rating input score 98
  • Program expense ratio: 78.9%; rating input score 79
  • Fundraising efficiency: $4.7 raised per $1 spent on fundraising; rating input score 16; 16th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 2.2%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 11.64; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 73; 73rd percentile among comparable filings
  • Officer compensation ratio: 3.7%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 9.4% per year; rating input score 100; 61st percentile among comparable filings
  • Revenue growth: 2.6% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: 8.1% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 98% of revenue deployed · 78.9% of spending went to programs
  • Governance: 23 of 23 board members independent · 5 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $1.4M in reported program spending
  • Leadership: top reported pay $181K · 23 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 10 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 10 filing years from 2014 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.

  • High — Financial Efficiency: Fundraising efficiency scored 16/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 42/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.