MIDLAND COLLEGE FOUNDATION INC: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- MIDLAND COLLEGE FOUNDATION INC (EIN 23-7315067)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-11-17
- IRS object ID
- 202513219349318436
- Schema version
- 2024v5.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-11-17T15:35:26-06:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 752393478 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WHITLEY PENN LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 550 W TEXAS SUITE 1000 | AddressLine1Txt |
| City | MIDLAND | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 79701 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 237315067 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MIDLAND COLLEGE FOUNDATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | MIDL | BusinessNameControlTxt |
| Phone | 4326847851 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3600 N GARFIELD | AddressLine1Txt |
| City | MIDLAND | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 79705 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JEFFREY CHAMBERS | PersonNm |
| Person Title | VP - ADMIN SERVICES | PersonTitleTxt |
| Phone | 4326847851 | PhoneNum |
| Signature | 2025-11-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | CHRIS NOLAN | PreparerPersonNm |
| PTIN | P01604458 | PTIN |
| Phone | 4326831835 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | JEFFREY CHAMBERS CPA | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3600 N GARFIELD | AddressLine1Txt |
| City | MIDLAND | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 79705 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $10,803,197 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.MIDLANDCOLLEGEFOUNDATION.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1973 | FormationYr |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Activity Or Mission | MIDLAND COLLEGE FOUNDATION, INC. IS A NON-PROFIT ORGANIZATION ESTABLISHED TO PROVIDE SUPPORT FOR THE EDUCATIONAL GOALS OF MIDLAND COLLEGE AND ITS STUDENTS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 25 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 25 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 52 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $3,254,593 | PYContributionsGrantsAmt |
| CY Contributions Grants | $7,924,296 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,651,247 | PYInvestmentIncomeAmt |
| CY Investment Income | $2,000,219 | CYInvestmentIncomeAmt |
| PY Other Revenue | $642,892 | PYOtherRevenueAmt |
| CY Other Revenue | $878,682 | CYOtherRevenueAmt |
| PY Total Revenue | $5,548,732 | PYTotalRevenueAmt |
| CY Total Revenue | $10,803,197 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $17,852,797 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $11,715,103 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $0 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $0 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $1,203,478 | PYOtherExpensesAmt |
| CY Other Expenses | $1,166,624 | CYOtherExpensesAmt |
| PY Total Expenses | $19,056,275 | PYTotalExpensesAmt |
| CY Total Expenses | $12,881,727 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$13,507,543 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$2,078,530 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $70,879,363 | TotalAssetsBOYAmt |
| Total Assets EOY | $74,104,017 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,201,506 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $2,532,446 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $69,677,857 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $71,571,571 | NetAssetsOrFundBalancesEOYAmt |
| Mission | MIDLAND COLLEGE FOUNDATION, INC. IS A NON-PROFIT ORGANIZATION ESTABLISHED TO PROVIDE SUPPORT FOR THE EDUCATIONAL GOALS OF MIDLAND COLLEGE AND ITS STUDENTS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $11,715,103 | ExpenseAmt |
| Grant | $11,715,103 | GrantAmt |
| Desc | PAYMENTS MADE TO MIDLAND COLLEGE FOR THE OPERATING BUDGET AND FUND MIDLAND COLLEGE SCHOLARSHIPS | Desc |
| Total Program Service Expenses | $11,715,103 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (1) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 18 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 25 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 25 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | TX | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JEFFREY CHAMBERS CPA | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 4326847851 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3600 N GARFIELD | AddressLine1Txt |
| City | MIDLAND | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 79705 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | Yes (X) | NoListedPersonsCompensatedInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (25 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd |
|---|---|---|---|---|---|---|
| ALBERT SHERMAN | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| ARNULFO CARRASCO MD | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| BJ BEAL | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| BECKY FERGUSON | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| CADELL LIEDTKE | ||||||
| PRESIDENT | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| CHIP SMITH | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| DAMON KENNEDY | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| GARY DOUGLAS | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| H JOSEPH DE COMPIENGNE | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JACK BLAKE JR | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JACK HARPER | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JOHN NORWOOD | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JULIA SWALLOW | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JULIE EDWARDS | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| KARMEN H BRYANT | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| LINDA COWDEN | ||||||
| SECRETARY | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| MIKE OESTMANN | ||||||
| VICE PRESIDENT | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| PAUL MORROW | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| RICHARD COATS | ||||||
| TREASURER | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| SCOTT KIDWELL | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| TAYLOR MAYNE | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| TRAVIS STICE | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| TRICIA MICHIE | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| WILLIAM DINGUS | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| WORD WILSON | ||||||
| DIRECTOR | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $7,924,296 | AllOtherContributionsAmt |
| Total Contributions | $7,924,296 | TotalContributionsAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,000,219 | TotalRevenueColumnAmt |
| Exclusion | $2,000,219 | ExclusionAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $878,682 | TotalRevenueColumnAmt |
| Exclusion | $878,682 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $10,803,197 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $2,878,901 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,715,103 | TotalAmt |
| Program Services | $11,715,103 | ProgramServicesAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,800 | TotalAmt |
| Management And General | $6,800 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $510,520 | TotalAmt |
| Management And General | $510,520 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $71,136 | TotalAmt |
| Management And General | $71,136 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,639 | TotalAmt |
| Management And General | $8,639 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,755 | TotalAmt |
| Management And General | $3,755 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $32,818 | TotalAmt |
| Management And General | $32,818 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $314,905 | TotalAmt |
| Management And General | $314,905 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER OPERATING EXPENSE | Desc |
| Total | $218,051 | TotalAmt |
| Management And General | $218,051 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,881,727 | TotalAmt |
| Program Services | $11,715,103 | ProgramServicesAmt |
| Management And General | $1,166,624 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,966,915 | BOYAmt |
| EOY | $5,346,707 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $308 | BOYAmt |
| EOY | $0 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,916,667 | BOYAmt |
| EOY | $83,333 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $53,088 | BOYAmt |
| EOY | $1,000 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $88,665 | BOYAmt |
| EOY | $104,221 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $63,819,939 | BOYAmt |
| EOY | $68,524,584 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $33,781 | BOYAmt |
| EOY | $44,172 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $70,879,363 | BOYAmt |
| EOY | $74,104,017 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $493,951 | BOYAmt |
| EOY | $119,718 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $707,555 | BOYAmt |
| EOY | $2,412,728 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,201,506 | BOYAmt |
| EOY | $2,532,446 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,797,238 | BOYAmt |
| EOY | $11,595,913 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $57,880,619 | BOYAmt |
| EOY | $59,975,658 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $69,677,857 | BOYAmt |
| EOY | $71,571,571 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $70,879,363 | BOYAmt |
| EOY | $74,104,017 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$2,078,530 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $3,972,237 | NetUnrlzdGainsLossesInvstAmt |
| Prior Period Adjustments | $7 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | 0 | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| College Organization | Yes (X) | CollegeOrganizationInd |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,879,047 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $2,936,848 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $29,723,820 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $3,254,593 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $7,924,296 | CurrentTaxYearAmt |
| Total | $45,718,604 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,879,047 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $2,936,848 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $29,723,820 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $3,254,593 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $7,924,296 | CurrentTaxYearAmt |
| Total | $45,718,604 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $14,920,784 | SubstantialContributorsTotAmt |
| Public Support Total170 | $30,797,820 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,538,936 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $2,476,790 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $3,279,934 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $2,294,139 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $2,878,901 | CurrentTaxYearAmt |
| Total | $12,468,700 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $58,187,304 | TotalSupportAmt |
| Public Support CY170 | 0.52930 | PublicSupportCY170Pct |
| Public Support PY170 | 0.56500 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $37,251,870 | BeginningYearBalanceAmt |
| Contributions | $1,042,227 | ContributionsAmt |
| Investment Earnings Or Losses | $3,299,258 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,890,003 | GrantsOrScholarshipsAmt |
| End Year Balance | $39,703,352 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $33,749,898 | BeginningYearBalanceAmt |
| Contributions | $1,335,752 | ContributionsAmt |
| Investment Earnings Or Losses | $3,998,458 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,832,238 | GrantsOrScholarshipsAmt |
| End Year Balance | $37,251,870 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $47,608,151 | BeginningYearBalanceAmt |
| Contributions | $592,923 | ContributionsAmt |
| Investment Earnings Or Losses | -$6,501,600 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,623,479 | GrantsOrScholarshipsAmt |
| Administrative Expenses | $6,326,097 | AdministrativeExpensesAmt |
| End Year Balance | $33,749,898 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $40,927,365 | BeginningYearBalanceAmt |
| Contributions | $1,437,985 | ContributionsAmt |
| Investment Earnings Or Losses | $7,450,156 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,691,418 | GrantsOrScholarshipsAmt |
| Administrative Expenses | $515,937 | AdministrativeExpensesAmt |
| End Year Balance | $47,608,151 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $37,329,214 | BeginningYearBalanceAmt |
| Contributions | $609,890 | ContributionsAmt |
| Investment Earnings Or Losses | $4,024,998 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $1,036,737 | GrantsOrScholarshipsAmt |
| End Year Balance | $40,927,365 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Endowments Held Unrelated Org | 0 | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $14,264,914 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $3,972,237 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $3,972,237 | RevenueNotReportedAmt |
| Revenue Subtotal | $10,292,677 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $510,520 | InvestmentExpensesNotIncldAmt |
| Revenue Not Reported Fincl Stmt | $510,520 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $10,803,197 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $12,371,200 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $12,371,200 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $510,520 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $7 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $510,527 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $12,881,727 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE FOUNDATION IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. GAAP REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE FOUNDATION AND RECOGNIZE A TAX LIABILITY IF THE FOUNDATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2022, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAKING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES THE FOUNDATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATION FOR YEARS PRIOR TO 2017. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | PRIOR PERIOD EQUITY ADJUSTMENT 6. ROUNDING 1. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | 0 | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MIDLAND COLLEGE | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3600 N GARFIELD | AddressLine1Txt |
| City | MIDLAND | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 79705 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 751403958 | RecipientEIN |
| IRC Section | GOVERNMENT | IRCSectionDesc |
| Cash Grant | $11,715,103 | CashGrantAmt |
| Non Cash Assistance | $0 | NonCashAssistanceAmt |
| Purpose Of Grant | OPERATING BUDGET AND FUNDING SCHOLARSHIPS | PurposeOfGrantTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | A COPY OF THE FORM 990 WAS PROVIDED TO EACH VOTING MEMBER PRIOR TO ITS FILING WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE ORGANIZATION REQUIRES WRITTEN STATEMENT FROM OFFICERS, DIRECTORS AND TRUSTEES. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE ORGANIZATION RESOLVED NOT TO COMPENSATE OFFICERS, DIRECTORS, EXECUTIVES, OR KEY EMPLOYEES. |
| FORM 990, PART VI, SECTION C, LINE 18 | FORM 990 IS AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART VI, SECTION C, LINE 19 | GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT AVAILABLE TO THE PUBLIC. |
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