What happens to a dream MONROE COMMUNITY COLLEGE FOUNDATION 2014-2015 ANNUAL REPORT EMPOWERED monroe community college foundation 2014–2015 annual report | 1 “The scholarship Contents enabled me to focus 100 percent 2 3 4 5 What Happens to a Dream Every Bright Future Needs Voluntary Support of Education Audited Financial on my studies. Empowered a Strong Foundation Executive Summary Statements … MCC and the 8 10 12 14 Board of Directors Outstanding Major Gifts Annual Fund Donors MCC Faculty, Staff and Farash Foundation 2014-2015 Drive Progress Empower Dreams Retiree Donors have given me everything that 18 20 21 22 Year in Distinguished Giving Faculty Honors and Highlights Societies Grants Memorials I need. The rest is on me.” 26 30 33 34 Special Event Endowments and MCC Foundation MCC Trustees Donors Annual Scholarships Staff and Offi cers James Janowski ’15, Max and Marian Farash Charitable Foundation First in Family Scholar Dream Empowered: Entrepreneur 2 | monroe community college foundation 2014–2015 annual report | 3 What Happens to Every Bright Future a Dream Empowered Needs a Strong Foundation a time when most available, good-paying jobs require a At two-year degree or certifi cate, a college credential is no longer a career enhancement. It’s a necessity. Through its Every Bright Future Needs a Strong Foundation initiative, the Monroe Community College Foundation works to ensure deserving students receive the scholarship support they need to complete their educational goals at MCC. Because 90 percent of MCC career program graduates who are employed full time remain in Greater Rochester, the initiative also ensures that MCC remains a force behind our region’s economic stability and workforce development. MCC scholarships are a wise investment—keeping students on track for success and ensuring that our brightest graduates reach their potential here at home. Award recipients Diane Shoger and Jim Moore pose with CASE President Council for Advancement and Support of Education Sue Cunningham and Communfund Institute Managing Director Bill Jarvis. (CASE) Commonfund Institutionally Related Foundation Award: Diane Shoger In February 2015, MCC Foundation Executive Director Diane Shoger was one of two national recipients of the CASE IN 2014-2015, THE Possibilities Priorities College becomes Career pathways Commonfund Institutionally Related Foundation Award. This MCC FOUNDATION: replace barriers. rise to the top. an option. are formed. prestigious award recognizes professionals who have made extraordinary contributions to the advancement, quality and “Thank you for believing in the “My family funded the fi rst “At Commencement in May, “Effective learning environments effectiveness of their foundations and the sector nationally. Shoger Monroe Community College scholarship ever given to an Timothy Wentworth ’80 shared are key to student achievement. is only the sixth recipient in the award’s history who represents a Foundation. Together, we have MCC student. We continue to how a scholarship to MCC made Your support of the MCC community college foundation. transferred more than established empowered MCC students to invest in MCC because of the college an unexpected option for Foundation helps create access to overcome fi nancial challenges quality programs the college him. He told the graduates how, high-impact learning experiences Association of Fundraising Professionals Genesee Valley $2 MILLION that may have seemed like offers and the preparedness with a college education, ‘There that go beyond classrooms into Chapter National Philanthropy Day Awards in aid to mcc to insurmountable barriers to of its graduates. The obvious is nothing you can’t do’ and he labs that refl ect actual work In November 2014, the following Foundation supporters were support scholarships a college education. The return on our investment has made them repeat the phrase environments and employer 11 recognized locally for their volunteerism and philanthropy: and programs new scholarship sincere gratitude we receive inspired us to continue to make several times. It was a powerful settings where skills are practiced. funds from students and families MCC a priority in our giving. moment. When a student receives Because of you, students graduate • Outstanding Volunteer Fundraiser Award: Mark Siwiec confi rms the importance of We are proud of what we have an MCC Foundation scholarship, and connect their higher • Outstanding Foundation Award: The Louis S. and keeping an MCC education accomplished in partnership they seize the opportunity and education to career success. Molly B. Wolk Foundation increased the amount accessible. Your support creates with MCC.” are motivated by your generosity. Thank you for believing in MCC of scholarship dollars awarded nearly possibilities and a stronger The honor of working with you to and investing in our students. Your The MCC Foundation’s agency of record, Dixon Schwabl, awarded by community for us all to enjoy.” Jeremy J. Wolk turn your philanthropic gifts into vision and generosity are changing “made things happen” for the MCC Foundation in 2014-2015. $1.17 MILLION partner, Nixon Peabody LLC scholarship awards is ours. The lives and building a stronger Their creative concepts attracted guests to record-breaking in scholarships to Daniel J. Burns chair-elect, MCC gratitude of our students belongs community.” special events and earned several awards along the way. mcc students regional president, M&T Bank Foundation Board of Directors to you.” • Rochester Advertising Federation American Advertising 7.3% chair, MCC Foundation Board of Anne M. Kress Award—Silver: 2014 Monroe Community College Directors Diane L. Shoger president, Foundation Gold Star Gala Invitation and Campaign grew the mcc foundation executive director, Monroe Community College (two awards) granted more than endowment to MCC Foundation • Public Relations Society of America—Rochester Chapter … and PRism Award: 2013-2014 Monroe Community College $22,000 $12,617,000 communities Foundation Annual Report to support faculty and benefi t. • State University of New York Council for University staff innovation Advancement (SUNYCUAD)—Electronic Communications and Interactive Media Best of Category: 2013-2014 Monroe Community College Foundation Annual Report 4 | monroe community college foundation 2014–2015 annual report | 5 2014 Voluntary Support of Audited Financial Education Executive Summary Statements Charitable gifts to colleges and universities in the United States STATEMENT OF FINANCIAL POSITION rose 10.8 percent in 2014, to $37.45 billion, according to the TOTAL SUPPORT results of the annual Voluntary Support of Education survey TEMPORARILY PERMANENTLY conducted by the Council for Aid to Education. The VSE began ASSETS UNRESTRICTED RESTRICTED RESTRICTED TOTAL 2014 TOTAL 2013 collecting data in 1957 and is considered the gold standard of information for public and private four-year institutions Cash and cash equivalents $298,148 $295,221 $99,539 $692,908 $460,087 nationwide, with 85-90 percent of all charitable giving to higher Funds held for deferred giving 111,700 - - 111,700 116,835 education reported. Investments 327,283 3,922,466 8,594,758 12,844,507 10,074,264 The following summary highlights the Monroe Community Pledges receivable, net of allowance for uncollectible pledges of $146,000 College Foundation’s ranking when compared with SUNY and $156,000, respectively 360,157 2,492,014 230,578 3,082,749 4,916,186 community colleges, as well as all public associate degree- Accrued interest on pledges receivable 2,330 314,517 17,789 334,636 374,070 granting institutions in the country. among suny community colleges, Prepaid expenses and other assets 35,172 - - 35,172 31,253 from #3 in 2013 2 Fixed assets - net 19,371 - - 19,371 11,950 UNRESTRICTED GIFTS Real estate held for sale - 85,000 - 85,000 160,000 TOTAL ASSETS $1,154,161 $7,109,218 $8,942,664 $17,206,043 $16,144,645 LIABILITIES AND NET ASSETS LIABILITIES among1 SUNY among4 public Due to College $576,159 $- $- $576,159 $513,184 community associate colleges for degree-granting Other accounts payable 53,873 - - 53,873 51,265 the sixth institutions Deferred giving obligations 31,309 - - 31,309 41,887 consecutive surveyed, from among public associate degree-granting year #6 in 2013 institutions surveyed,5 from #17 in 2013 Note payable - Field House - 285,285 - 285,285 428,852 Deferred revenue 16,225 - - 16,225 13,800 TOTAL LIABILITIES 677,566 285,285 - 962,851 1,048,988 ENDOWMENT MARKET VALUE ENROLLMENT NET ASSETS Unrestricted 476,595 - - 476,595 380,337 Temporarily restricted - 6,823,933 - 6,823,933 6,089,290 Permanently restricted - - 8,942,664 8,942,664 8,626,030 TOTAL NET ASSETS 476,595 6,823,933 8,942,664 16,243,192 15,095,657 among suny5330 community among 34public associate among suny community among public associate colleges for the third degree-granting colleges for the seventh degree-granting consecutive year institutions surveyed consecutive year institutions surveyed TOTAL LIABILITIES AND NET ASSETS $1,154,161 $7,109,218 $8,942,664 $17,206,043 $16,144,645 6 | monroe community college foundation 2014–2015 annual report | 7 STATEMENT OF ACTIVITIES STATEMENT OF CASH FLOWS FOR THE YEAR ENDED AUGUST 31, 2014 FOR THE YEARS ENDED AUGUST 31, 2014 AND 2013 PUBLIC SUPPORT TEMPORARILY PERMANENTLY AND REVENUE UNRESTRICTED RESTRICTED RESTRICTED TOTAL 2014 TOTAL 2013 2014 2013 PUBLIC SUPPORT CASH FLOWS FROM OPERATING ACTIVITIES Gifts and donations $380,662 $2,001,651 $146,838 $2,529,151 $3,901,722 Change in net