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annual report 2019-20

Making a difference.

Dear Friends ­— On behalf of the students, faculty, and staff of Rochester Community and Technical College (RCTC), I want to sincerely thank you, the donors, for your commitment to the RCTC Foundation and our College. Your contributions have made a significant difference in the lives of so many. This has never been truer than during the past year when faced with a global pandemic. The mental health and financial struggles of our students have been real, and your support has been especially impactful during these difficult times.

2019-20 RCTC Foundation

ANNUAL REPORT SPOTLIGHTS ON...................2, 4 NEW SCHOLARSHIPS................3 LEAVE A LEGACY.......................4

The RCTC Foundation continues to focus on several pressing needs for our students: mental health, food insecurities, and financial assistance through scholarships. In addition, academically our programs have been able to ensure state-ofthe-art technology and equipment is available to prepare our students for tomorrow’s workforce. It is through your contributions that RCTC is able to fulfill our mission of providing accessible, affordable, quality learning opportunities to serve a diverse and growing community. Please accept my deepest appreciation for everything you have done for our College and our students. Remember, the success of our students equates to success for our community. Sincerely,

YES FUND/SURVEY RESULTS.....5 Jeffery S. Boyd, Ed.D., President DONOR LISTING.....................6-8 FINANCIAL REPORT..................9

Rochester Community and Technical College

Dear RCTC Community Stakeholders — ­ We submit the Annual Report of the Rochester Community and Technical College for the 2020 fiscal year that ended June 30, 2020. This annual report covers the transactions of the Foundation and recognizes donors who stepped forward in that time to show their support for the students and programs of Rochester Community and Technical College. Our generous donors give for a diverse number of reasons, but mainly, it is because they support our mission. Their gifts have had a tremendous impact on new and returning RCTC students and the programs offered at RCTC. As an adjunct professor within the College, I have been blessed to see the impact the Foundation has on our students and know firsthand its ability to educate and provide a financially responsible way to attain life goals. We gratefully thank business and industry partners and other individuals for donations of equipment and supplies. Whether it is a donation of hospital beds for the Nursing Program, or materials for our numerous programs, these important gifts lessen the expenditures of the College and are an important resource. On behalf of the RCTC Foundation, I want to personally thank our donors for their generosity and unwavering commitment to our students' educational pursuits. The donations to the Foundation continue to make a difference in our student's lives, especially during the COVID-19 pandemic. We are all aware of the financial and emotional toll this year has had on our community. The RCTC Foundation is privileged to have the ongoing support of so many dedicated donors, alumni, and faculty and staff who are steadfast in their dedication to helping the students of RCTC. Best Regards,

By the Numbers












* RCTC employees made up the bulk of this; funds collected by the RCTC Foundation.

Tony Joseph, President RCTC Foundation Board President FY20


Spotlight on Student Scholarships


As tough as this year has been, Hailee Stock is all smiles about her future career as a dental hygienist, “I’m pursing an Associate’s degree in dental hygiene, and will be graduating in the spring of 2021.” Her passion for her new career is contagious, Hailee shares, “A large part of my role as a dental hygienist is education. My goal is to offer more education programs to expecting parents, and families with young children. I want to help educate healthcare workers that work with elderly communities. More often than expected, our oral health is easily overlooked and forgotten about.” During her time at RCTC, Hailee received the Don and Stephanie Supalla Scholarship, Hoffman Technical Scholarship, Workforce Development Scholarship, and the Zumbro Valley Dental Society Scholarship. “I am so grateful for the scholarships I have received. These scholarships allow me to focus more on studying to become the great dental hygienist I hope to be.”

Spotlight on Donor

WOMEN HELPING WOMEN SCHOLARSHIP Some of our donors don’t seek the limelight, but their generosity can be an example to all of us. This is the story of one anonymous donor and her mission to help other women. “When I arrived in Rochester in 1976 with my almost twoyear-old son, I was alone and afraid. I had enrolled in the nursing program at RCC in the hope that my son and I could have a better life – one that was not filled with verbal and physical abuse.” While in Rochester, our alumna met others who were committed to helping women. Together, they formed a nonprofit and organized a board of directors. “By the time I left Rochester two years later, we had housed many victims in our own homes, spoken at classes and meetings, been on radio, educated the police, testified at the state legislature, and received funding for a shelter – Women’s Shelter.” Now this alumna is building on her legacy. She has created an annual scholarship to help female victims of domestic violence. “This scholarship will help others who have experienced abuse to improve their lives through an education at RCTC.” RCTC FOUNDATION | PAGE 2

DEWEY BENSON MEMORIAL AWARD This scholarship was established by RCTC CAD faculty member, Pam Benson, in memory of her father, Dewey Benson. The applicant must be majoring in Computer Aided Drafting (CAD) Technology, be a returning student, and have a GPA of 3.5 or higher.

Established in 2019-20


WOMEN HELPING WOMEN SCHOLARSHIP This scholarship was established in 2020 to support women who have utilized the Women’s Shelter in Rochester, Minnesota. Applicants must have 2.0 GPA or higher, must have financial need and be survivors of domestic abuse who have utilized the Women's Shelter and Support Center emergency or supportive housing services. BOB “THE BUILDER” HIGHET MEMORIAL AWARD This scholarship was established by RCTC CAD faculty member, Pam Benson, in memory of Bob Highet. Applicants for this award must be a full-time, returning student majoring in Computer Aided Drafting (CAD) Technology, and have a GPA of 3.0 or higher. The applicant must possess superior mechanical aptitude and enjoy making hands on projects.

JUDITH A. MCDERMOTT SCHOLARSHIP This scholarship was established by the estate of Judith A. McDermott. Applicants must be majoring in Environmental Science and have a GPA of 3.0 or higher.

HARRIET HANSON MEMORIAL SCHOLARSHIP This scholarship was established by the estate of Harriet Hanson. Applicants for the Harriet Hanson Memorial Scholarship must be majoring in nursing.


Spotlight on Donor



Rebecca is a RCTC alumna, Foundation Board Member, and also the daughter of Charles Hill, President of Rochester Junior College from 1953 – 1982. “My dad believed in the importance of the Junior and Community College system. He worked hard to make sure that everyone who attended received a quality education. He took pride in getting to know the students and watching them grow.” Rebecca shares her father’s commitment to help students succeed. “When my husband and I attended our first OAKS Scholarship event, we had an unforgettable evening. Hearing the stories of these incredible students who had overcome hardship and wanted a chance for an education really touched us. My husband, Jevan Loshbough, turned to me and said, “Why don’t we give a scholarship?” Rebecca and Jevan have been contributing a $2,500 OAKS scholarship since 2017. “Giving to the OAKS Scholarship Program has been so rewarding and easy. These students have faced such challenges we are happy to help them. We just want a chance to share the opportunities we have had with others who have the dream and desire to make a better life for themselves and their families." RCTC FOUNDATION | PAGE 4

Leaving a Legacy to Students


RCTC faculty and staff are incredibly dedicated to helping our students. There are some staff, however, whose dedication is legendary. One of those staff was Robert O. Wise who served as Associate Dean of Students from 1963-1991. Bob was passionate about helping students, served on the RCTC Foundation Board, and was active in Rochester community life. Bob touched many lives as Associate Dean of Students. Bob retired June 30, 1991 but wanted to leave a legacy at RCTC that would enrich student life on campus for years to come. He decided to make a gift in his will with a portion to support the activities of the Student Senate and a portion to enhance student facilities on campus. Bob passed away in 2005, but his legacy at RCTC continues. In 2019/2020, RCTC was able to use Bob’s gift to enhance student facilities in the Regional Sports Center. This project has created a new workout room looking over the south end of the campus, partitioned the weight room to allow more groups to use the room at one time, and refurbished the area that recognizes the Yellowjackets who have received NJCAA honors. While the works are still underway, the RCTC Foundation is proud to showcase the improvements that Bob’s bequest has made possible.

Bringing Community Together to Help Students in Need


RCTC and the RCTC Foundation played a critical role in coordinating support for our students during this difficult time. RCTC received $1,148,970 through the CARES act to provide 2,687 students with financial aid grants and emergency grants. Despite the CARES Act funding, student needs were overwhelming. Our RCTC staff, alumni, and community stepped forward to help students in need with gifts to the Yellowjacket Emergency Support (YES) Fund. The YES Fund supports RCTC students by: 1. Supporting the HIVE Supply, our on-campus food pantry and winter clothing closet. 2. Helping students to access mental health professionals if they need assistance. 3. Providing up to a $500 emergency loan.

By June 20, 2020, donations to the YES fund provided STUDENTS WITH A STUDENT







STUDENT RECIPIENTS SHARE One student who received CARES funding shared, “My family suffered two job losses related to COVID, which had a big impact on our household budget. The money I received enabled me to pay my rent and purchase food and personal items. If I had not received the emergency funding I would have had to withdraw from school due to lack of housing and the inability to purchase food.” Another student received a CARES grant for technology support, but later needed an additional emergency grant. “Unfortunately, I became homeless and was living from my car. RCTC emergency funds helped me pay rent for a month to get me into a place to stay. I am forever grateful for the help RCTC has shown me since I enrolled.”

By the Numbers

STUDENTS HIT HARD DURING PANDEMIC EMERGENCY Community colleges play an important role in making education affordable and accessible— especially to low-income and first-generation college students. These students are those who have been hit especially hard—often working service jobs or part-time jobs whose hours are easily cut. In June, RCTC students participated in the HOPE Center #realcollege survey describing how the pandemic was affecting them. The results were heartbreaking:















Our students are still hurting, and we need your help. We are seeking donations for emergency loans; a new commercial refrigerator and freezer for our food pantry; and donations of items for our Hive Supply wish list. Contact the RCTC Foundation for an updated wish list at 507-281-7771 or make a donation at www.rctc.edu/foundation/giving. PAGE 5 | ANNUAL REPORT

HONOR ROLL OF DONORS The RCTC Foundation is pleased to acknowledge our benefactors in the Honor Roll of Donors who supported the College. We gratefully honor you, our loyal alumni, friends, faculty, and staff for your generous spirit. Your commitment allows the RCTC Foundation to accomplish extraordinary things and advance our achievements in education with student scholarships and academic program support. Thank you for shaping our destiny. INDIVIDUAL DONORS President’s Club ($5,000+) Charles and Iris Fried Drs. Anhar Hassan and David Prichard Roy Hoffman Stewardship Club ($1,000-$4,999) Robert and Phyllis Beery Pam Benson Brenda Dicken Stephen and Monica Frytak Thomas and Lynne Gaffey William and Kay Haling Jeff Hanson Marita Heller Rebecca Hill and Jevan Loshbough Lori Jensen Dr. Young and Kyong Juhn Donald Layton Elizabeth and Erik Ritman Priscilla Russell Dean and Julie Stenehjem John Tatman Stanimir and Zvezdana Vuk-Pavlovic Bill Wiktor and Elaine Case Elizabeth Wirt Dean’s Club ($500-$999) Don Baldus Charles and Judy Bird Thomas Brinkman Daniel and Julia Caesar Beth Heim de Bera Marlys Peterson Irvin and Maureen Plitzuweit Ione Schloegel Lawrence and Mary Schwanke TJ and Deb Shandley Don and Stephanie Supalla Virginia Wright-Peterson College Club ($200-$499) Simona Baias Matt Bissonette Jeffery Boyd Teresa and Robert Brown Jane Callahan Annie Clement Jon and Diane Closson Matthew Dacy RCTC FOUNDATION | PAGE 6

Robert and Marcella Elliott Catherine Ellstrom Peg and Pat Farrell Max Gernand Pamela Haase Lori Halverson-Wente David Harbert Judith Haugen Alan and Judy Hoffman Jean Hoth Linda and Franklin Iossi Karen Jensen Karen Kamradt Philip and Catherine Karsell Cris Kellas Gary and Judy Kingsbury Sheila Kiscaden Debbie Knaup Ann Lien Jamie Mahlberg Michael Malugani Jason Meier Robert and Ancy Morse Roger and Maggie Nolte Thomas Ostrom Judith Pease Michelle Pyfferoen Roxy and Steve Roadway Mark Schluesner Steve Schmall Mary Schwager Eric Sime Karen Vinje Nikka Vrieze Karel Weigel Richard and Nancy Wheeler Doug and Terry Wiltsie Gregory Wright Karin Wright Centennial Club ($100-$199) Feras Al-Kaisi Ronald Allen Ken and Nancy Allsen Allen Anderson Shelli Arneson Colleen and Scott Arnold Susan and PG Arnold Janet and Wayne Bartz Jon Benson Richard Bjerkaas Joseph and Terrilynn Blodgett Kim Boyink

Deborah Cannon Ruth and Jerry Casper Amy Caucutt Sylvester "Cy" Champa Eva Colligan Leonard and Yvonne Cronin Nathan Davidson Atef Dimian Catherine Egenberger Holly Eisenman Sarah Endel Jane Foote Cara Fox Brenda Frame Julianna Gilkinson Kotagal Giving Fund Dave and Judy Harris Tracy and Julie Harris Susan Hommerding Deborah Jacobsen Jeffrey Jacobsen Brenda Kehoe Paul Kinion Peggy Kuiper Larry Laber Joseph LaForge Colleen Landherr-Maddox Tammy and Dwayne Lee Mike Lester Douglas and Val Lochner Diane Mann Jean Marcontt Leslie Matthias Jenee and Shep McGurren Barbara McLeod Ajay Mehra June Meitzner Walter Menning Jennifer Monsos Jen and Juan Murillo Scott Olson Donald and Carole Ott Russell Parham El Pounds Mary Pringle Kelly Pyfferoen Mirwais Qader Jane Reiman Helen Restovich Evelyn Schlichting Curtis and Kim Schumacher Cynthia Scott Mary Shelerud

Kenneth and Barbara Simurdiak Tony and Judy Smithson Connie Sobotta Barbara and Chad Stowers Katie Swegarden Suzanne Szucs John Tacinelli Paul and Barbara Tieskoetter Charlotte Timm Donald Tindall Stephen and Julie Troutman Taresa Tweeten Susan Valvoda-Swanson Peggy Vevang and Ron Dickie Joyce Walker Barbara Weigman Alvin White Michelle Willihnganz Reva Witte Ronald and Judith Yaggy Margo Yee Friends of RCTC (Up to $100) Anonymous Melissa Amundsen Lucy Armstrong David Atwood William and Linda Bakken Buzz Bares Patrick Basile Judy Behnken Joshua Bendickson Deborah Bendzick Alice Benedett Tiffany Betcher Kay Bjoraker Arlouene Bothun Deborah Bowen Nancy Brubaker Gwen Buckingham Chris Bushaw Melanie Callister Michelle Cochran Steven Cole Patrick Costello Thomas and Genell Cummings Jennifer Dahle Tom Davis Mary Dennison Margaret Denson Kevin Dobbe Heather and Mike Donovan Elizabeth DuBord

Lois Duffy Sanela Dzamalija Marvin Eggert Norman and Ruth Eickhoff Sharyn and Lee Eischen Ronald and Sharon Elcombe Leanne England Mark Erickson Catherine Eschenbauch Cindy Ewen Coralie and Jerry Fiegel Robert Fliess Janis Frid Barbara Fritz Dan Froelich Sandra George Nancy Gilliland Larry Gottschalk M. Jean Gould Ben Hain Jackie Halsey Tara Hammill Beverly Hanson Holly Hart Steve Higgins Darin Hoffman Greg Holm Sarah Holmes Paula Horner Patricia Horst Christina Hurtado Chad Israelson Katherine Jacobson Doreen Johnson Jean Johnson Patricia Johnson Steve and Mary Juenemann Carolyn Jukich Reuben and Carol Kamper Vicky Keller Betsy Kennedy Dave Kerr Debra Kiefer Jennifer Kiehne Kristi Kiehne Pauline Krieger Travis Kromminga Chadd Kunkel Diane Ladwig Alex Lair Brian LaPlante Nicholas Lauer Dennis Lawler Alexa Lee Kathy Leis Ruth Lincoln Susan Lommen Lyle Madsen Jessie Martinez Eric Matteson Herta Matteson Amy and Stan Mayer Michele McCaughtry Heather and Troy McEldowney Sharon Melvin Peggy Menzel Bonnie Mercer

Rod Milbrandt Karen Moen Marilyn Morem Cheryl Morgan David Morken Stephen Murray Mike Mutschelknaus Jim Nieling Nancy Nixa Soon-Young Oh Sharon Oliver Mary Olson ViAnn Olson Caren Otterness Dale Pedersen Rebecca Peine Mona Permann Deb Pesch Julie Petersen Chrisanne Pieper Cody Pogalz Cletus and Norma Pollack Diane Pollock Bonnie Prinsen Amanda Quinn Nicole Reeves Karen Reopelle Katie Ristau Wayne Roerish Jim Rogers Victor and Joanne Ronken Kimberly Rowley Rashmi Roy Nikkilynn Rud Heather Ruffin Travis Rutt Glen Saponari Kerry Schad Deanne Schemmel Joseph Schlichenmeyer Jennifer Schnaedter Mary Schneekloth Daryl Schulz Sandra Scott Lindsey Sequeira Aaron Shannon Brendan Shea Jim and Shiela Siebenaker Heather Sklenicka Peter Southorn Betty Spitzmiller Rachelle Splittstoesser Brian Steele Scott Stennes Donna Stewart Nate Stoltman Sylvia Swede Catherine A. Swessel Amanda Swintek Roger Taylor Romayne Thompson Beth Torgerud Cuong Tran Sandra Tschida Ainhoa Urkijo Deb and Matt Vang Darlene and James Vowels

MJ Wagenson Bruce Wagner David Walter Kathryn Welp Randy and Diane Wendt Pamela Whitfield Sharon and Joseph Wieners Mary Wilson Shirley Wilson Valinda Wondrasch Joyce Wood Betheny Wyandt Stacey York Alicia Zeone Eileen Zirbel

INSTITUTIONAL DONORS President’s Club ($5,000+) IBM Mayo Clinic Rochester Area Foundation Wells Fargo Foundation Stewardship Club ($1,000-$4,999) 40 & 8 Voiture 327 American Business Women's Association - Rochester Chapter Altra Federal Credit Union ASHRAE Minnesota Chapter Rochester Region Bell Bank Mortgage Bremer Bank Country Financial Jill Moosbrugger F & M Community Bank First Security Bank of Byron Foresight Bank Gillette Pepsi Companies - Rochester Gwaltney Group of REMAX/Results Home Federal Savings Bank John Miller Excavating Knutson Construction Merchants Bank Minnesota Business Finance Corporation Minnesota Energy Resources Olmsted Medical Center ONB Bank Peoples State Bank Premier Bank Rochester Rochester Community and Technical College Rochester Commercial Banks Association Rochester Motor Cars Ryan Windows & Siding Sandberg Law Firm 504 Corporation Sterling State Bank Think Bank TLS Companies US Bank West Bank WNB Financial

Dean’s Club ($500 - $999) Davey Tree First State Bank Minnesota Greater Rochester Advocates for Universities & Colleges (GRAUC) HGA - Rochester Kismet Consignment Musky Tale Resort Olmsted-Rochester Law Enforcement K9 Foundation Park Dental Foundation R & A Pumpkins - Steve and Sharon Nigon RCTC Nursing Dept Rochester Police Benevolent Association Scheels Smith Schafer & Associates Stifel – Rochester UCare Weller Brothers Landscaping Widseth Smith Nolting & Associates Winona State University Foundation College Club ($100-$199) Affinity Plus Credit Union Citizens State Bank of Hayfield Harris Companies Hawkins Ash CPAs Healing Rhythms Music Therapy Mayo Employee Federal Credit Union Pro Image Promotions and Apparel Rochester Dental Assistant Society University of Minnesota Rochester Centennial Club ($100-$199) Custom Alarm DeCook Landscaping Mayo Foundation Peoples Food Cooperative Inc. Rochester Area Chamber of Commerce Seneca Food Foundation Yaggy Motorsports Friends of RCTC (Up to $100) AmazonSmile PayPal Giving Fund

IN-KIND EVENT DONORS AND SPONSORS All-American Classics Applebee's Bowlocity Entertainment Center Brothers Bar & Grill Buffalo Wild Wings Carpet One Casey’s General Stores Commonwheel Theatre Company Coyote Creek Outdoors Creative Cuisine Custom Alarm Escape Challenge Four Daughters Vineyard & Winery PAGE 7 | ANNUAL REPORT

IN-KIND EVENT DONORS AND SPONSORS CONT. Hilton Garden Inn Rochester Downtown KAAL TV - ABC 6 News Minnesota Twins Minnesota Vikings Nupa RCTC RCTC Facilities RCTC Foundation Rebecca Hill and Jevan Loshbough Rochester Athletic Club Serenity Couture Salon & Spa Seventh Day Adventist Church Silver Lake Liquor Somerby Golf Club Star Ocean Buffet University of Minnesota Regents

LEVERAGED EQUIPMENT DONORS Jay Bohan Mayo Clinic Andrew Engesser Patrick Foy Dallas Glaser Thomas Haugen Adam Koenig William Kuisle Justin Lodermeier Lubetech Anthony Michelich Larry O'Malley Lesa Patek Post Bulletin Proctor & Gamble Michael Russell Chris Schad Alicia Stencel James Vigen Zumbro River Fur Farm

RAFFLE, SILENT AUCTION, TRIO BASKET PARTICIPANTS Kate Bauman Nancy Berry Nikki Brown Melanie Callister Michelle Cochran David Flicek Kim Glarner Jacob Griggs Jason Griggs Jim Hanson Drywall Inc. Holly Hart Susan Jansen Dwain Jorgensen Beth Kleist Debbie Knaup Tammy and Dwayne Lee RCTC FOUNDATION | PAGE 8

Bonnie Mercer Chao Mwatela Tricia Olinger Rebecca Peine Amanda Proper Michelle Pyfferoen Andrea Roshon Diane Runkle Kerry Schad Steve Schmall Cindy Seabright Jered Smiley Melissa Speltz Rachelle Splittstoesser Darcy Tello Taresa Tweeten Amber Zitzow

In memory of Gordy Grosenick Don and Stephanie Supalla

In honor of Robin Fruth-Dugstad Stanimir Vuk-Pavlovic

In memory of Hazel Clement RCTC Communications Department Nikka Vrieze

In honor of Dr. Boyd PEO Sisterhood Chapter BM


In memory of Quinn Bissonette Pam Benson Tammy and Dwayne Lee Jenee and Shep McGurren

In honor of Brian Steele Suzanne Szucs In honor of Students Cheryl Klingsporn-Morgan Lindsey Sequeira Rashmi Roy In honor of Chrisanne Pieper Richard and Nancy Wheeler In honor of Rebecca Peine Christina Hurtado Nicholas Lauer Sandra Scott Barbara Weigman In honor of Beth Heim de Bera Debra Kiefer In memory of Karen Lowers Cris Kellas Marcia Latz Jenee and Shep McGurren In memory of Elizabeth Cannon McElroy Jenee and Shep McGurren In memory of Betty Jackson Jenee and Shep McGurren In memory of Dawn Sobek Kaupa Jenee and Shep McGurren In memory of Don Layton Don and Stephanie Supalla In memory of Don Olsen Sylvester "Cy" Champa Lyle and Yvonne Madsen Irvin and Maureen Plitzuweit In memory of Gordon Trisko Lyle and Yvonne Madsen

In memory of Sam Parkin Pam Benson Jennifer Kiehne In memory of Larry Edwards Roxy and Steve Roadway In memory of Norma Niccolai Pam Benson Jenee and Shep McGurren

In memory of Bob Highet Pam Benson In memory of Clayton Larson Pam Benson In memory of David Musgjerd Jenee and Shep McGurren Pam Benson In memory of Pat Fitzgerald Irvin and Maureen Plitzuweit In memory of Dan Preble Jenee and Shep McGurren In memory of James Kehoe Sandy and Jim Bartholomew Kim Boyink Ken and Diane Deboer Brenda Kehoe David Morken Stephen and Susan Murray Charlie and Dottie O'Brien Andrea Phillipson Kristin Rogers Don and Stephanie Supalla Roger and Beverly Taylor Gregory Wright In memory of Mary White Pam Benson Teresa and Robert Brown Vicky Keller Judy and Gary Kingsbury Jenee and Shep McGurren Bonnie Mercer Wayne and Sally Roerish Mary and Randy Shelerud Nikka Vrieze Alvin and Beverly White

The honor roll of donors is compiled by the RCTC Foundation staff. Every effort is made to ensure that this list is accurate and complete. If we have inadvertently omitted, misspelled, or otherwise improperly reported your name or gift, please contact the Rochester Community and Technical College Foundation at 851 30th Avenue SE, Rochester, MN 55904 or 507-281-7771 or via e-mail at foundation@rctc.edu.



Current Assets Cash and cash equivalents Money market mutual funds Contributions receivable Investments Prepaid expense and other assets Total Current Assets


159,138 $ 163,994 269,458 297,232 5,500 3,908 6,154,767 6,393,518 1,353 1,485 6,590,216 6,860,137

Property and Equipment Equipment and software Less: Accumulated depreciation Property and Equipment, Net


FINANCIAL STATEMENT This financial statement is a condensed summary of the end-of-year financial statements which were subject to annual audit by our independent accounting firm. Full copies of the report are available in the RCTC Foundation Office.

Noncurrent Assets Beneficial interest in charitable remainder unitrust TOTAL ASSETS


308 308


11,504 308 11,812 160,411 6,704,358 6,864,769

$ 6,606,107 $ 6,876,581

STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS For the Year Ended June 30, 2020 (With Comparative Totals for the Year Ended June 30, 2019)

Net Assets, End of year


156,709 6,449,090 6,605,799


Net Assets, Beginning of year



Net Assets Without donor restrictions With donor restrictions Total Net Assets

Change in Net Assets

7,176 7,126 50


Current Liabilities Accounts payable Funds held for the benefit of others Total Current Liabilities

Expenses: Program General and administrative Fundraising Total Expenses

7,176 7,176

$ 6,606,107 $ 6,876,581


Revenues Support, Gains and Losses Contributions Contributions - in kind Special events, net of direct benefit to donors of $8,185 in 2020 and $12,825 in 2019 Investment income (loss) Change in value of split-interest agreement Net assets released from restrictions Total Revenues, Support, Gains and Losses


Without Donor Restrictions

2020 With Donor Restrictions



5,009 249,896



403,391 697,733

(9,589) (503) (403,391) (255,268)

429,700 149,129 122,606 701,435 (3,702)




$ 156,709

$ 6,449,090

Totals $

163,224 $ 249,896 39,437 (9,589) (503)

2019 189,608 407,568 66,510 304,492 575



429,700 149,129 122,606 701,435

436,011 164,346 146,242 746,599





$ 6,605,799 $ 6,864,769


RCTC FOUNDATION MISSION The Rochester Community and Technical College Foundation improves lives with support of quality, affordable, accessible higher education.

The RCTC Foundation is a tax-exempt, 501(c)(3) charitable organization. In accordance with IRS rules and regulations, contributions are tax-deductible.


RCTC Foundation 851 30th Avenue SE Rochester, MN 55904 507-281-7771 Office Located at: 1926 College View Road East

851 30TH AVE SE | ROCHESTER, MN 55904 | 507-285-7210 | RCTC.EDU


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2020 RCTC Foundation Annual Report  

2020 RCTC Foundation Annual Report  

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