2024-05-15T13:39:56-05:00 2023-06-30 450250958 Eide Bailly LLP 800 Nicollet Mall Ste 1300 Minneapolis MN 554027033 990 2022-07-01 421178729 Northeast Iowa Community College Foundation Inc NORT 5635623263 8342 NICC Drive Peosta IA 52068 Juliana G Huiskamp President 5635623263 2024-05-07 1 Juliana Huiskamp 999009999 1 Kim Hunwardsen CPA P00484560 6122536500 2024-05-07 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z Juliana G Huiskamp 8342 NICC Drive Peosta IA 52068 1903156 0 X www.nicc.edu/foundation/ X 1981 IA Support Northeast Iowa Community College through scholarships, services, and enhanced programming. 23 23 0 26 0 0 1936582 1399521 0 0 224158 494866 0 -8513 2160740 1885874 1207343 1127820 0 0 0 0 0 0 1576 73664 39709 1281007 1167529 879733 718345 6189598 6159545 2150 4145 6187448 6155400 X The Northeast Iowa Community College Foundation is a trusted philanthropic partner creating opportunities for donors and communities to impact learner success. 0 0 1127820 1127820 The Northeast Iowa Community College Foundation matches donors' passion and investment with student needs through scholarships, services, and enhanced programming. All gifts make profound impacts on student's lives.Fund for Excellence: Unrestricted contributions directed to the area(s) in greatest need for student support.Student Scholarships: The College believes the cost of an education should not be a barrier in the student's pursuit of a brighter future for themselves and their families. Scholarship funds may be used to create an annual or endowed scholarship. Continued on Schedule O.Kathryn J. Davis Student Crisis Fund: Kathy Davis had a passion for helping students succeed. This fund was created in her honor to assist current students who are experiencing a financial emergency to continue their education and assisting them through their personal crisis.Student Support Fund: Assists students by providing financial support for textbooks, supplies, tuition/fees, laptops, internet access/hotspots, food, interview clothing, professional development courses, medical expenses, rent, utilities and other needs. 1127820 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 23 23 1 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X Renae Parker 8426422338 1625 HWY 150 S Calmar IA 52132 X X Juliana Huiskamp President 0.25 X X 0 0 0 Kaitlyn White Vice President 0.25 X X 0 0 0 Alex Fernandez 2nd Vice President 0.25 X X 0 0 0 Adam Reisch Treasurer 0.25 X X 0 0 0 Kristina Johnson Secretary 0.25 X X 0 0 0 Jane Bechen Past President 0.25 X X 0 0 0 Matt Dietzenbach Director as of April 0.25 X 0 0 0 Charles Frana Director 0.25 X 0 0 0 Don Frazer Director 0.25 X 0 0 0 Stephanie Fromm Director 0.25 X 0 0 0 Keith Garms Director 0.25 X 0 0 0 Kelli Gosch Director 0.25 X 0 0 0 Sarah Hasken Director 0.25 X 0 0 0 Carla Hughes Director 0.25 X 0 0 0 Dave Kratz Director 0.25 X 0 0 0 Gary McAndrew Board of Trustee Liason 0.25 X 0 0 0 Danielle Shea Director 0.25 X 0 0 0 Christopher O'Donohoe Director 0.25 X 0 0 0 Anderson Sainci Director 0.25 X 0 0 0 Brian Schatz Director 0.25 X 0 0 0 Wes Schulte Director 0.25 X 0 0 0 Walter Webster Director 0.25 X 0 0 0 Jerem White Director 0.25 X 0 0 0 Eric Dietzenbach Director until April 0.25 X 0 0 0 Russell Loven Director until August 0.25 X 0 0 0 0 0 0 0 0 0 0 0 32140 1367381 8704 1399521 494866 494866 6830 32140 17282 -10452 -10452 1939 0 1939 1939 1885874 0 0 486353 842474 842474 285346 285346 34741 34741 3618 2042 1576 1053 1053 297 297 1167529 1127820 38133 1576 178003 501681 828001 764554 5183594 4893310 6189598 6159545 2150 4145 2150 4145 X 1667089 1332965 4520359 4822435 6187448 6155400 6189598 6159545 X 718345 -750393 X 0 1 X 1 0 X 1382386 1072286 1064237 1936582 1399521 6855012 1382386 1072286 1064237 1936582 1399521 6855012 6855012 109730 114236 129367 224158 494866 1072357 7927369 0.86470 0.90480 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3992256 683604 460125 232475 4903510 6328592 419685 -850730 244252 1641386 19653 3992256 4932239 1350138 1601436 118115 1419973 17133 6328592 4625696 1225185 647613 226444 1318486 21325 4932239 4057916 1472948 309289 90562 1106121 17774 4625696 0.08513 0.91487 0.00000 0 0 0 X 2113350 244935 244935 1868415 34741 -17282 17459 1885874 1395005 244935 17282 262217 1132788 34741 34741 1167529 Part V, Line 4: The College Foundation's endowment consists of approximately 70 individual funds established by donors to provide annual funding for scholarships to Northeast Iowa Community College students, specific activities and general operations of the College. The prior year ending balance and current year beginning balance do not agree as there was a correction of error in the audited financial statements. The College Foundation recorded endowments held in trust at community foundations even though variance power had been granted to the community foundations. This resulted in a restatement. Prior year amounts were also corrected to reflect correct beginning balances, activity and ending balances. Part X, Line 2: Northeast Iowa Community College Foundation is a nonprofit corporation qualifying for exempt status under Section 501(c)(3) of the Internal Revenue Code and is not required to pay income tax. The College Foundation is required to file an annual informational return for organizations exempt from income tax. In addition, the College Foundation has been determined by the Internal Revenue Service not to be a "private foundation" within the meaning of Section 509(a) of the Code. Management of the College Foundation believes it has no material uncertain tax provisions and accordingly, it will not recognize any liability for unrecognized tax benefits. Part XI, Line 4b - Other Adjustments: Schedule G expenses included with revenues -17,282. Part XII, Line 2d - Other Adjustments: Schedule G expenses included with revenue 17,282. Golf Outing 38970 32140 6830 10483 6799 38970 32140 6830 10483 6799 17282 -10452 1 Northeast Iowa Community College PO Box 400 Calmar IA 52132 420924711 State of Iowa 838628 0 Operational expenses and scholarships 1 0 Educational scholarships 400 285346 Part I, Line 2: The exempt purpose of Northeast Iowa Community College Foundation is to raise money to support the students and buildings of Northeast Iowa Community College. The assistance provided supports this mission and due to the close working relationship of the organizations the funds are monitored and used for the purposes of which they were intended. Scholarship recipients are selected by the Foundation. Students submit a scholarship application. The applications are reviewed and scored blindly by a committee. Each application is reviewed by 2 individuals and their scores are averaged. Scholarship recipients are selected based on the highest-scoring applicant(s) who meets the award criteria for each scholarship. The Financial Aid Office of Northeast Iowa Community College provides regulatory awarding of the Foundation's scholarships. Form 990, Part VI, Section A, line 1a The Executive Committee includes the Foundation President, Immediate Past President, Vice President(s), Secretary/Treasurer, and the VP of Institutional Effectiveness and Advancement. The responsibilities include: 1. Representing and acting for the Board between meetings on matters of policy or procedure, such actions to be reported to the Board. 2. Receiving reports related to Foundation matters and reporting such information to the Board. 3. Acting as an advisory group on matters of policy and procedure and making recommendations on policy decisions to the Board. 4. Advising and counseling with the VP of Institutional Effectiveness and Advancement on problems and opportunities that may arise. 5. Overseeing the development of materials and presentations for Board orientation and ongoing education and make the Board aware of available programs or other resources which may provide educational opportunities. 6. Working with the Finance Committee to adopt a proposed budget and consider the revisions in the current budget. Ensuring that all policies are reviewed on an annual basis as required. Form 990, Part VI, Section A, line 2 Jerem White and Christopher O'Donohoe have a business relationship. Form 990, Part VI, Section A, line 7a All nominees for election to the Board of Directors shall be made by a majority vote of the Board of Directors of Northeast Iowa Community College. Newly elected Directors are elected from among the nominees. At least one member of the Board of Trustees of Northeast Iowa Community College shall be a member of the Board of Directors of Northeast Iowa Community College. Form 990, Part VI, Section B, line 11b The 990 was reviewed by the Audit Committee and Board of Directors of the Foundation prior to filing with the IRS. Form 990, Part VI, Section B, line 12c The Foundation has a Conflict of Interest Policy completed each year by all Board members thus monitoring any potential conflicts. The Board President reviews the statements and follows up on any potential conflicts. Any actual or potential conflict of interest is disclosed to the other members of the Board and made a matter of record in the minutes when the subject of such interest becomes a matter of Board action. When a conflict arises, the Board member is not allowed to vote on the issue and may be excused from the meeting. Form 990, Part VI, Section C, line 19 The Organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request. Form 990, Part VII: The College Foundation's supporting services functions are performed by Northeast Iowa Community College as a fiscal agent. During the year ended June 30, 2023, the College employed staff to operate the College Foundation. The College also provided human resources services, internet and mailing services, office space and office equipment without charge. During the year ended June 30, 2023, these services totaled $227,036. The President and Treasurer provide all administrative and financial oversight. Form 990, Part XI, line 9: Restatement to remove community foundation investment -750,393. Northeast Iowa Community College PO Box 400 Calmar IA 52132 420924711 Education IA N/A 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0