Better Business Bureau Report for
Lone Star College Foundation

Better Business Bureau Report issued March 2012
Better Business Bureau Report expires March 2013


This BBB Accredited charity meets all 20 Standards for Charity Accountability and is a Seal Holder. Find out more...


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Charity Contact Information

Name: Lone Star College Foundation
Address: 5000 Research Forest Dr.
  The Woodlands, TX 77381
Phone: 832-813-6637
Web Address: www.lonestarcollegefoundation.org
Also known as:LSC Foundation
LSCF
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Better Business Bureau Comments

Formerly known as:North Harris Montgomery Community College District Foundation
NHMCCD Foundation
NHMCCDF

Year, State Incorporated: 1991, Texas
Affiliates: None
Stated Purpose: The Lone Star College Foundation’s mission is to change lives through student scholarships and quality educational programs achieved by excellence in relationship building, fundraising, and investment management.

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Evaluation Conclusions

               

Lone Star College Foundation meets the 20 Standards for Charity Accountability.
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Programs

               

The LSC Foundation raises funds to support students, faculty and programs at our five colleges. Individuals, businesses, and private foundations contribute funds to our foundation. These gifts are donated through special events such as the StarGala and golf tournament, and direct gifts for endowed scholarships and program support. • The Foundation awarded more than 600 scholarships at a value of $693,000 for the 2011 academic year.

For the fiscal year ended August 31, 2011, Lone Star College Foundation's program expenses were:

  
Student Scholarships 693,943
Academic Program Support 142,849
Institutional Development 32,033
Mini-Grants 15,825
Total Program Expenses: $884,650
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Governance

               

Chief Executive : Darcy Mingoia, Executive Director
Compensation*:

Chair of the Board: Dr. Virginia Zizelmann
Chair's Profession / Business Affiliation: Retired Educator and Owner of MATTCO, Inc.

Board Size: 22

Paid Staff Size: 0

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

               

Method(s) Used:

direct mail, invitations to fund raising events, grant proposals, internet, planned giving arrangements
Fund raising costs were 7% of related contributions. (Related contributions, which totaled $1,920,557, are donations received as a result of fund raising activities.)
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Tax Status

               

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

               

The following information is based on Lone Star College Foundation's audited financial statements for the fiscal year ended August 31, 2011.

Source of Funds  
Donations 1,151,757
Net Realized and Unrealized Gains 828,781
FundRaising 488,838
Interest and Dividends Net of Investment Fees 294,778
In-Kind Revenue from the LSCS 279,962
Total Income $3,044,116


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Uses of Funds as a % of Total Expenses

Programs: 66%  Fund Raising: 10%  Administrative: 24% 

Total income   $3,044,116
  Program expenses $884,650
  Fund raising expenses 140,099
  Administrative expenses 317,324
 
Total expenses   $1,342,073
Income in Excess of Expenses   1,702,043
Beginning net assets   10,707,359
Ending net assets   12,409,402
Total liabilities   15,480
Total assets   $12,424,882


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Complaints

               

The BBB has processed no complaints about this organization in the past 36 months, our standard reporting period.

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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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