Skip to content
Nonprofiteer
← RICE TRUST INC

Form 990 for tax year 2024

Filed by RICE TRUST INC.

Totals

Total revenue
$446,875
Total expenses
$363,237
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$145,451
Other revenue
$301,424
Total assets, end of year
$5,034,966
Total liabilities, end of year
$6,281
Net assets or fund balances, end of year
$5,028,685
Program services expenses (Part IX)
$294,728
Management and general expenses
$68,509
Fundraising expenses
$0
Program service expenses (Part III)
$294,728

Program services were 81.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $109,975 · excluded $109,975

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $638,595

  • 7b · Less cost or other basis and sales expenses

    securities $603,119

  • 7c · Gain or loss

    securities $35,476 · other assets $0

  • 7d · Net gain or loss

    total $35,476 · excluded $35,476

  • 11a · Other revenue: FIDUCIARY INCOME

    total $301,424 · related or exempt $301,424

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $301,424

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $24,206 · management and general $24,206

  • 11c · Fees: accounting

    total $32,380 · management and general $32,380

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $2,237 · management and general $2,237

  • 23 · Insurance

    total $9,387 · management and general $9,387

  • 24a · Other expenses: SALARIES REIMBURSEMENT

    total $265,862 · program services $265,862

  • 24b · Other expenses: MGT. & CUSTODY FEE

    total $28,866 · program services $28,866

  • 24c · Other expenses: OTHER EXP

    total $299 · management and general $299

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $18,325 · end of year $42,691

  • 4 · Accounts receivable

    beginning of year $9,508 · end of year $9,789

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1 · end of year $1

  • 10a · Land, buildings and equipment: cost or other basis

    $0

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $4,509,636 · end of year $4,982,485

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,660 · end of year $6,281

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $4,531,810 · end of year $5,028,685

Mission and programs · 2024

Mission

TO SUPPORT WILLIAM MARSH RICE UNIVERSITY EIN 74-1109620

  • RICE TRUST INC. SERVES AS A TRUSTEE FOR CHARITABLE REMAINDER TRUSTS WHICH ULTIMATELY BENEFIT WILLIAM MARSH RICE UNIVERSITY, AN IRC SECTION 501(C)(3) ORGANIZATION.

    Expenses $294,728 · Revenue $301,424

As filed on the 2024 return.

Listed in Part VII

  • Amy Nelson

    Director & President

    Total calculated
    $248,701
    From this org
    $0
    From related orgs
    $209,309
    Other
    $39,392
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $173,809 related
    Bonus
    $0 + $5,000 related
    Other
    $0 + $30,500 related
    Deferred
    $0 + $23,683 related
    Nontaxable benefits
    $0 + $15,709 related
    Filer's total
    $0 + $248,701 related

  • Bradley Fralic

    Director & Chair

    Total calculated
    $371,532
    From this org
    $0
    From related orgs
    $305,511
    Other
    $66,021
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $295,511 related
    Bonus
    $0 + $10,000 related
    Other
    $0
    Deferred
    $0 + $39,331 related
    Nontaxable benefits
    $0 + $26,690 related
    Filer's total
    $0 + $371,532 related

  • Cindy Melton

    Director, Vice President and Treasurer

    Total calculated
    $662,835
    From this org
    $0
    From related orgs
    $574,152
    Other
    $88,683
    Hours/week
    1 + 46 related

    Schedule J breakdown matched by us

    Base
    $0 + $347,520 related
    Bonus
    $0 + $173,644 related
    Other
    $0 + $52,988 related
    Deferred
    $0 + $43,320 related
    Nontaxable benefits
    $0 + $45,363 related
    Filer's total
    $0 + $662,835 related

  • Omar Syed

    Director & Vice President and Secretary

    Total calculated
    $637,441
    From this org
    $0
    From related orgs
    $562,190
    Other
    $75,251
    Hours/week
    1 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $489,615 related
    Bonus
    $0 + $50,000 related
    Other
    $0 + $22,575 related
    Deferred
    $0 + $72,970 related
    Nontaxable benefits
    $0 + $2,281 related
    Filer's total
    $0 + $637,441 related

  • Stephen Bayer

    Director & Vice President

    Total calculated
    $1,076,208
    From this org
    $0
    From related orgs
    $957,601
    Other
    $118,607
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $829,101 related
    Bonus
    $0 + $75,000 related
    Other
    $0 + $53,500 related
    Deferred
    $0 + $72,487 related
    Nontaxable benefits
    $0 + $46,120 related
    Filer's total
    $0 + $1,076,208 related

  • Ronica Smucker

    Former Director & Officer

    Total calculated
    $408,342
    From this org
    $0
    From related orgs
    $336,444
    Other
    $71,898
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $309,573 related
    Bonus
    $0
    Other
    $0 + $26,871 related
    Deferred
    $0 + $43,320 related
    Nontaxable benefits
    $0 + $28,578 related
    Filer's total
    $0 + $408,342 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
The following officer(s), director(s), trustee(s), key employee(s) and/or highest compensated employees participated in or received payment from a supplemental non-qualified retirement plan in calendar year 2024, subject to satisfying vesting conditions related to continuing service to the university. Award amounts that may or may not have vested are shown below. Amounts that became taxable during the year due to vesting or distribution are included in Part II, column B (iii). Accruals for awards that have not vested are included in the amounts shown in Part II, column C. Omar Syed: $30,000 current year award; $40,000 accrual for awards not yet vested. Stephen Bayer: $50,000 current year award; $29,167 accrual for awards not yet vested.
Schedule J, Part I, Line 7 Non-fixed payments
CONTRACTS OF CERTAIN INDIVIDUALS INCLUDE PROVISIONS THAT ALLOW THEM TO RECEIVE ADDITIONAL COMPENSATION IF SPECIFIC CRITERIA OR CIRCUMSTANCES ARE MET OR PERFORMANCE THRESHOLDS ARE ACHIEVED. PAYMENTS WERE MADE UNDER SUCH CONTRACTS IN CALENDAR YEAR 2024 TO CINDY MELTON. ADDITIONALLY, AS NOTED IN PART II OF SCHEDULE J, DISCRETIONARY BONUSES WERE PROVIDED TO OTHERS BASED ON MANAGEMENT'S ASSESSMENT OF THEIR PERFORMANCE.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • WMR ACME I LLC

    Excluded · Real estate · DE

    Directly controlled by William Marsh Rice University

  • WMR ACME II LLC

    Excluded · Real estate · DE

    Directly controlled by William Marsh Rice University

  • WMR ACME III LLC

    Excluded · Real estate · DE

    Directly controlled by William Marsh Rice University

  • WMR Redcar I LLC

    Excluded · Real estate · DE

    Directly controlled by William Marsh Rice University

  • WMR Redcar II LLC

    Excluded · Real estate · DE

    Directly controlled by William Marsh Rice University

  • WMR Redcar III LLC

    Excluded · Real estate · DE

    Directly controlled by William Marsh Rice University

  • WMRBNA II GP

    Excluded · Real estate · TN

    Directly controlled by William Marsh Rice University

  • WMRBNA Fund III Holdings LLC

    Excluded · Real estate · DE

    Directly controlled by William Marsh Rice University

  • WMRBNA Fund IV

    Excluded · Real estate · TN

    Directly controlled by William Marsh Rice University

  • WMR White Star LLC

    Excluded · Real estate · DE

    Directly controlled by WMR White Star Holdings LLC

  • WMR White Star II LLC

    Excluded · Real estate · DE

    Directly controlled by WMR White Star Holdings LLC

  • Amador R Partners LP

    Unrelated · Alternative investment · DE

    Directly controlled by William Marsh Rice University

  • Artea Secondaries I LP

    Excluded · Alternative investment · JE

    Directly controlled by William Marsh Rice University

  • ARTEA SECONDARIES I OPPORTUNITIES I LP - Sub Partnership Class A

    Excluded · Alternative investment · JE

    Directly controlled by William Marsh Rice University

  • ARTEA SECONDARIES I OPPORTUNITIES I LP - Sub Partnership Class B

    Excluded · Alternative investment · JE

    Directly controlled by William Marsh Rice University

  • PGRP 2015 CO-INVESTMENT III LP (fka LVA4 Co-Investment III LP)

    Excluded · Alternative investment · DE

    Directly controlled by William Marsh Rice University

  • PGRP 2018 CO-INVESTMENT III LP (fka LVA5 Co-Investment III LP)

    Excluded · Alternative investment · DE

    Directly controlled by William Marsh Rice University

  • Mercury Affiliates XV LLC

    Excluded · Alternative investment · DE

    Directly controlled by William Marsh Rice University

  • Mercury Affiliates XIX LLC

    Excluded · Alternative investment · DE

    Directly controlled by William Marsh Rice University

  • Mercury Affiliates XXIV LLC

    Excluded · Alternative investment · DE

    Directly controlled by William Marsh Rice University

  • Mercury Affiliates XXV LLC

    Excluded · Alternative investment · DE

    Directly controlled by William Marsh Rice University

  • BOREALIS STRATEGIC CAPITAL PARTNERS MASTER FUND I LP

    Excluded · Alternative investment

    Directly controlled by Borealis Strategic Capital Partners Offshore Fund I LP

  • BOREALIS STRATEGIC CO-INVESTMENT FUND IP LP

    Excluded · Alternative investment

    Directly controlled by Borealis Strategic Co-Investment Fund IC LP

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • WMR White Star Holdings LLC

    C Corporation · Holding company

    Directly controlled by William Marsh Rice University

  • Borealis Strategic Capital Partners Offshore Fund I LP

    C Corporation · Alternative investment

    Directly controlled by William Marsh Rice University

  • Borealis Strategic Capital Partners Offshore Fund II LP

    C Corporation · Alternative investment

    Directly controlled by William Marsh Rice University

  • Borealis Strategic Co-Investment Fund IC LP

    C Corporation · Alternative investment

    Directly controlled by William Marsh Rice University

  • Informatic Capital Offshore Fund Ltd

    C Corporation · Alternative investment · CJ

    Directly controlled by William Marsh Rice University

  • Rice Global Paris (fka Rice School of Architecture Paris)

    C Corporation · Education · FR

    Directly controlled by William Marsh Rice University

  • Rice Global Education India Private Limited

    C Corporation · Education · IN

    Directly controlled by William Marsh Rice University

  • Charitable Remainder Trust (1)

    Trust · Support · CA

    Directly controlled by NA

  • Charitable Remainder Trusts (49)

    Trust · Support · TX

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2024
Filed
11 May 2026
IRS schema version
2024v5.1
Source object
202621319349305232

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.