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Nonprofiteer
← ACIMCO

Form 990 for tax year 2024

Filed by ACIMCO.

Totals

Total revenue
$2,180,596
Total expenses
$2,181,528
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,180,596
Investment income
$0
Other revenue
$0
Total assets, end of year
$600,294
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$600,294
Program services expenses (Part IX)
$1,968,017
Management and general expenses
$213,511
Fundraising expenses
$0
Program service expenses (Part III)
$1,968,017

Program services were 90.2% 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.

  • 2a · Program service revenue: MANAGEMENT FEE-ACU

    total $2,022,857 · related or exempt $2,022,857

  • 2b · Program service revenue: MANAGEMENT FEE-TRUSTS

    total $157,739 · related or exempt $157,739

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $639,193 · program services $575,274 · management and general $63,919

  • 7 · Other salaries and wages

    total $896,326 · program services $808,270 · management and general $88,056

  • 8 · Pension plan contributions

    total $50,654 · program services $45,589 · management and general $5,065

  • 9 · Other employee benefits

    total $154,260 · program services $138,834 · management and general $15,426

  • 10 · Payroll taxes

    total $108,742 · program services $97,868 · management and general $10,874

  • 11a · Fees: management

    total $64,664 · program services $64,664

  • 11b · Fees: legal

    total $101,153 · program services $101,153

  • 11g · Fees: other

    total $1,461 · program services $1,461

  • 13 · Office expenses

    total $8,492 · program services $4,246 · management and general $4,246

  • 14 · Information technology

    total $86,417 · program services $60,492 · management and general $25,925

  • 17 · Travel

    total $50,341 · program services $50,341

  • 19 · Conferences, conventions and meetings

    total $5,393 · program services $5,393

  • 24a · Other expenses: PRINTING & PUBLICATIONS

    total $9,669 · program services $9,669

  • 24b · Other expenses: PROFESSIONAL DUES

    total $2,311 · program services $2,311

  • 24c · Other expenses: TRUSTEE FEES

    total $1,638 · program services $1,638

  • 24d · Other expenses: POSTAGE AND SHIPPING

    total $579 · program services $579

  • 24e · All other expenses

    total $235 · program services $235

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $601,226 · end of year $600,294

  • 27 · Net assets without donor restrictions

    beginning of year $601,226 · end of year $600,294

Mission and programs · 2024

Mission

ACIMCO SUPPORTS ABILENE CHRISTIAN UNIVERSITY (ACU) BY PROVIDING INVESTMENT MANAGEMENT SERVICES FOR THE ENDOWMENT FUNDS AND OTHER FIDUCIARY ASSETS HELD BY ACU.

Activities or mission (Part I)

ACIMCO SUPPORTS ACU BY PROVIDING INVESTMENT MANAGEMENT SERVICES FOR SOME OF THE ASSETS HELD BY ACU.

  • SUPPORTED ABILENE CHRISTIAN UNIVERSITY AND OTHER CHURCH OF CHRIST ENTITIES BY PROVIDING INVESTMENT MANAGEMENT SERVICES FOR THE ENDOWMENT FUNDS AND OTHER FIDUCIARY ASSETS HELD BY ACU.

    Expenses $1,968,017 · Revenue $2,180,596

As filed on the 2024 return.

Listed in Part VII

  • Jim Porter

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Cole Oliver

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Kelly Shewmaker

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Phil Schubert

    TRUSTEE

    Total calculated
    $695,192
    From this org
    $0
    From related orgs
    $551,570
    Other
    $143,622
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $436,422 related
    Bonus
    $0 + $89,000 related
    Other
    $0 + $26,148 related
    Deferred
    $0 + $45,978 related
    Nontaxable benefits
    $0 + $97,644 related
    Filer's total
    $0 + $695,192 related

  • Rick Wessel

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Kyle Hammond

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Mark Anthony

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Luke James

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Mark Rich

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Joe Lee

    PRESIDENT/CIO

    Total calculated
    $576,506
    From this org
    $505,623
    From related orgs
    $0
    Other
    $70,883
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $405,623
    Bonus
    $100,000
    Other
    $0
    Deferred
    $45,978
    Nontaxable benefits
    $24,905
    Filer's total
    $576,506

  • Yancey House

    VP & SECRETARY

    Total calculated
    $215,888
    From this org
    $187,797
    From related orgs
    $0
    Other
    $28,091
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,912
    Bonus
    $27,721
    Other
    $164
    Deferred
    $13,196
    Nontaxable benefits
    $14,895
    Filer's total
    $215,888

  • Kelly Young

    VP FOR REAL ESTATE DEVELOP

    Total calculated
    $245,668
    From this org
    $211,657
    From related orgs
    $0
    Other
    $34,011
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,566
    Bonus
    $72,627
    Other
    $464
    Deferred
    $12,050
    Nontaxable benefits
    $21,961
    Filer's total
    $245,668

  • Amy Justice

    VP/COO

    Total calculated
    $197,957
    From this org
    $168,757
    From related orgs
    $0
    Other
    $29,200
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,963
    Bonus
    $23,573
    Other
    $221
    Deferred
    $12,173
    Nontaxable benefits
    $17,027
    Filer's total
    $197,957

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

  • 1a · First-class or charter travel
  • 1a · Housing allowance or residence for personal use
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 5b · Pay contingent on a related organization's revenues

Answered no

  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 5
EXECUTIVES ARE ELIGIBLE TO RECEIVE ANNUAL PERFORMANCE INCENTIVE PAY UP TO A PERCENT OF THEIR THEN CURRENT SALARY. THE PERFORMANCE INCENTIVE IS BASED ON THE PERFORMANCE OF ABILENE CHRISTIAN UNIVERSITY'S ENDOWMENT AS REPORTED IN THE LCG ASSOCIATES, OR THEIR SUCCESSORS, QUARTERLY PERFORMANCE NOTEBOOK.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
6 February 2026
IRS schema version
2024v5.5
Source object
202620419349301802

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