2021-22 RCTC Foundation Annual Report

A LETTER FROM OUR PRESIDENTS

RCTC plays an important role in our community—providing accessible, affordable, quality learning opportunities designed to meet the needs of our students and community. Our RCTC faculty and staff are committed to caring for the whole student--providing a welcoming and supportive environment that helps students overcome obstacles to reach their goals. As budgets gets stretched further and further, the RCTC Foundation plays a critical role in helping the College fulfill its mission, and helping students afford and succeed in college. To accomplish that, the RCTC Foundation and its donors focus on five (5) key areas:

• Scholarships – support to provide access to an affordable education;

• Student Support – support for student basic needs;

• Academic Quality – support to secure cutting-edge equipment and innovative grants;

• Championship Athletics – support to assist with costs associated with our nationally ranked athletic programs;

• Strategic Investments – support for other college and student needs to ensure success.

We thank our donors, our volunteers, our alumni, our faculty and staff, our local businesses and community members who believe in the power of an RCTC education and invest in our students and programs.

You help students achieve their dreams to become teachers, nurses, accountants, artists, scientists, peace officers, and so much more. You help families lift themselves out of poverty with rewarding careers. You help grow our local businesses with a trained and educated workforce. Your generosity inspires others to pay it forward to future generations.

Jeffrey S. Boyd, Ed.D.

Dr.

Markus Lang RCTC President RCTC Foundation Board President

SUPPORTING ACADEMICS & ATHLETICS

CHAMPIONSHIP ATHLETICS

Thank you to everyone who supported RCTC Athletics in 2021-2022. Highlights of the year included: the RCTC Softball Scramble, celebrating Coach LaPlante’s 500th win, and the Champions Challenge Fund. Special thank you to Cy Champa, Dick Rosener, Mike Enger, and Steve Nigon for contributing to the challenge fund.

QUALITY ACADEMICS

The Foundation received generous inkind donations to enhance our teaching, including automobiles, tools, boilers and software for our cancer registry program. The Richard Trisko Fund for Excellence will offer microgrants to support teaching opportunities. Compeer Financial generously gifted $25,000 for a new plasma cutting table for our welding students.

SCHOLARSHIPS

RCTC is an exceptional value, but even affordable schools can be out of reach for some students. Thanks to our generous donors, the RCTC Foundation will offer over $460,000 in scholarships for the 2022-2023 academic year.

“Scholarships allow me to not worry about how I will be able to afford school, work, and take care of my son. It provides stability knowing my tuition is covered and I can focus on school and working hard. Without scholarships, I would not be able to pay for school, and take care of us. Groceries are getting more expensive along with rent, gas, and many other aspects in the world. Thank you for having a lasting impact on our lives and I hope to be able to give back to RCTC one day like you all have for me.”

—Marissa Andrews

“This kind gesture has provided me another lifeline to pursue my education without hitches. Being a beneficiary of such kindness reassures me of the possibility of a kinder and better world. Receiving this award has also filled me with a sense of responsibility. I am more convinced now more than ever before, of the duty to contribute my skills and learning for the good of humanity”.

—Chuka Okose

“I spent most of my life thinking no one would want to help me, and then getting this scholarship changed my mind. It really made me realize that things do get better. I realize that it is okay that I was not able to go to college right away. I am going to make my future better by being here now and doing my best. This scholarship will help me not be so stressed about school and hopefully I will take some time to take better care of my mental health. This scholarship shows there are people out there who do care and want to see those who have struggled succeeding in life.”

—Autumn Grover

NEW SCHOLARSHIPS

19 new scholarship funds established, awarding more than 35 new scholarships.

• Jan Buss CNT Scholarship

• Kath Family Scholarship

• Leon & Linda Gregg Band Scholarship

• Leon & Linda Gregg Choir Scholarship

• Kiwanis DayMakers Club Scholarship

• Judy & David Harris Scholarship

• Gauthier Family Scholarship

• Generosity Scholarship

• Jane Flickering Memorial Scholarship

• Murphy Business Philoxenia Scholarship

• Stacey York Memorial Scholarship

• Richard Trisko Family Scholarship

• PEO Sisterhood Scholarship

• River Town Dental Scholarship

• Rochester Endodontics Service Scholarship

• Rochester Endodontics Growth Scholarship

• Student Retention Scholarship

• Success Scholarship

• Connie Rehm Memorial Scholarship

“I’m involving my children in deciding what causes we should support.

It’s a way for us to carry on my family’s values and stories.

Giving a scholarship is a no-brainer. You could invest in google and your money can grow. But invest in scholarships and people grow.

When you give out scholarships, you are expecting that those recipients will go out and improve your community and your world. Investing in people is a better return.”

—Diane Osland,

HUNGRY TO LEARN: SUPPORTING STUDENTS’ BASIC NEEDS

No one should have to choose between going hungry and going to college. But sadly, 33% of RCTC students face that difficult choice. RCTC supports our students’ basic needs with the RCTC Hive Supply, our on-campus food pantry. In 2021-2022, the RCTC Hive Supply had 3,100 visits to the pantry from students, and almost 1,000 Grab and Go Food Bags were provided.

NEW COMMERCIAL FRIDGE FREEZER

With support from the Rochester Area Foundation, Rochester Exchange Club, and donors Ginger and David Holmes, the RCTC Foundation was able to purchase a commercial refrigerator and freezer. In early 2022, the RCTC Hive Supply began offering fresh and frozen foods donated by Cub Foods and Trader Joe’s. This partnership has provided more than $65,000 of groceries to our students. Thank you to our volunteers, Ron Dickie and Jim Siebenaler, who faithfully transport our donated food items to campus.

$25,000 STATE FARM NEIGHBORHOOD ASSIST® GRANT

In Spring 2022, the RCTC Hive Supply, our on-campus food pantry, was selected to participate in the State Farm Neighborhood Assist grant process, which invites communities across the United States to vote for the projects that matter most to them. Thank you to the many RCTC faculty, staff, students, and members of the Rochester community that voted for the Hive Supply as part of the community voting. With your support, the Hive Supply was selected as one of the top 100 causes in the nation and awarded a $25,000 grant in June. Thank you to the State Farm Neighborhood Assist program for providing food for our RCTC students facing food insecurity.

Rochester Community and Technical College Foundation

Statements of Financial Position

June 30, 2022 and 2021

Assets

Current assets:

2022 2021

Rochester Community and Technical College Foundation

Statement of Activities and Changes in Net Assets

Year Ended June 30, 2022

Without DonorWith Donor RestrictionsRestrictionsTotals

Cash and cash equivalents 388,079 $ 262,414 $ Investments 6,622,754 7,900,074

Prepaid expense and other assets 21,693 1,353

Total current assets 7,032,526 8,163,841

Property and equipment:

Equipment and software 7,176 7,176

Less accumulated depreciation 7,176 7,176

Property and equipment, net - -

Noncurrent assets:

Beneficial interest in charitable remainder unitrust 14,494 18,342

Revenues support, gains and losses:

Contributions of cash and other financial assets 13,712 $ 441,548 $ 455,260 $

Contributions of nonfinancial assets and services 210,053 - 210,053 Special events, net of direct benefit to donors of $0 11,600 - 11,600 Investment loss - (1,377,310) (1,377,310)

Change in value of split-interest agreement - (3,848) (3,848) Net assets released from restrictions 280,683 (280,683)Total revenues, support, gains and losses 516,048 (1,220,293) (704,245)

Total assets 7,047,020 $ 8,182,183 $

Liabilities and Net Assets

Current liabilities: Accounts payable 3,793 $ 15,038 $ Funds, equipment, and supplies held for the benefit of others 182,749 61,713

Total current liabilities 186,542 76,751

Commitments

Net assets:

(Note 7)

Without donor restrictions 102,812 127,473

With donor restrictions 6,757,666 7,977,959

Total net assets 6,860,478 8,105,432

Total liabilities and net assets 7,047,020 $ 8,182,183 $

Expenses: Program 280,683 - 280,683 General and administrative 141,363 - 141,363 Fundraising 118,663 - 118,663 Total expenses 540,709 - 540,709

Change in net assets (24,661) (1,220,293) (1,244,954)

Net assets, beginning of year 127,473 7,977,959 8,105,432

Net assets, end of year 102,812 $ 6,757,666 $ 6,860,478 $

See notes to financial statements.

Alex Lair, Treasurer RCTC Foundation

See notes to financial statements.

The RCTC Foundation is committed to good stewardship of the donations entrusted to us. Each year, we commit to a full review of our financial policies and practices. We strive to offer transparency to our donors, so that they know their gifts make an impact which is meaningful to them. We invest prudently to ensure we can provide the greatest impact for our students, now and for years to come. A copy of our full audit is available upon request.

Scan the QR code below to review the RCTC Foundation honor roll and memorials or visit https://www.rctc.edu/foundation/honor-roll-donors/. A printed copy is available from the RCTC Foundation by request.

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 RCTC Foundation office at 507-2817771 or email at foundation@rctc.edu

• Make a gift online at www.rctc.edu/giving

Contact the RCTC Foundation office for more information.