Totals
- Total revenue
- $1,809,224
- Total expenses
- $1,788,198
- Contributions and grants received
- $213,980
- Grants paid
- $206,600
- Program service revenue
- $1,474,408
- Investment income
- $65,940
- Other revenue
- $54,896
- Total assets, end of year
- $1,438,280
- Total liabilities, end of year
- $470,187
- Net assets or fund balances, end of year
- $968,093
- Program services expenses (Part IX)
- $1,301,498
- Management and general expenses
- $469,962
- Fundraising expenses
- $16,738
- Program service expenses (Part III)
- $1,301,498
Program services were 72.8% 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.
-
1f · All other contributions, gifts and grants
$213,980
-
2a · Program service revenue: MEMBERSHIP DUES
total $1,387,913 · related or exempt $1,387,913
-
2b · Program service revenue: MEETING FEES
total $54,870 · related or exempt $54,870
-
2c · Program service revenue: PROGRAM SPONSORSHIP
total $31,625 · related or exempt $31,625
-
3 · Investment income
total $68,867 · excluded $68,867
-
5 · Royalties
total $49,937 · excluded $49,937
-
6a · Gross rents
real property $88,173
-
6b · Less rental expenses
real property $88,173
-
7a · Gross sales of assets other than inventory
securities $21,849
-
7b · Less cost or other basis and sales expenses
securities $24,776
-
7c · Gain or loss
securities -$2,927
-
7d · Net gain or loss
total -$2,927 · excluded -$2,927
-
11a · Other revenue: REFUNDS
total $3,333 · related or exempt $3,333
-
11b · Other revenue: REIMBURSEMENTS
total $1,626 · related or exempt $1,626
-
11e · Other revenue, total
$4,959
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $206,600 · program services $206,600
-
5 · Compensation of officers, directors and key employees
total $592,012 · program services $412,340 · management and general $174,176 · fundraising $5,496
-
7 · Other salaries and wages
total $231,056 · program services $158,960 · management and general $69,977 · fundraising $2,119
-
8 · Pension plan contributions
total $32,771 · program services $24,578 · management and general $7,865 · fundraising $328
-
9 · Other employee benefits
total $12,710 · program services $9,533 · management and general $3,050 · fundraising $127
-
10 · Payroll taxes
total $47,546 · program services $35,660 · management and general $11,411 · fundraising $475
-
11b · Fees: legal
total $10,633 · management and general $10,633
-
11c · Fees: accounting
total $25,385 · management and general $25,385
-
11d · Fees: lobbying
total $22,400 · program services $22,400
-
11g · Fees: other
total $81,443 · program services $24,500 · management and general $56,424 · fundraising $519
-
13 · Office expenses
total $108,382 · program services $81,354 · management and general $25,947 · fundraising $1,081
-
14 · Information technology
total $17,919 · program services $13,439 · management and general $4,301 · fundraising $179
-
16 · Occupancy
total $112,300 · program services $62,191 · management and general $48,105 · fundraising $2,004
-
17 · Travel
total $36,130 · program services $36,130
-
19 · Conferences, conventions and meetings
total $125,546 · program services $99,568 · management and general $21,717 · fundraising $4,261
-
21 · Payments to affiliates
total $1,263 · program services $947 · management and general $316
-
22 · Depreciation, depletion and amortization
total $4,636 · program services $3,477 · management and general $1,159
-
23 · Insurance
total $7,326 · program services $5,495 · management and general $1,758 · fundraising $73
-
24a · Other expenses: LEGISLATIVE
total $84,669 · program services $79,733 · management and general $4,936
-
24b · Other expenses: MEMBERSHIP
total $19,951 · program services $18,953 · management and general $998
-
24c · Other expenses: MISCELLANEOUS
total $4,450 · program services $3,338 · management and general $1,067 · fundraising $45
-
24d · Other expenses: STAFF TRAINING
total $3,070 · program services $2,302 · management and general $737 · fundraising $31
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $115,695 · end of year $361,877
-
2 · Savings and temporary cash investments
beginning of year $486,382 · end of year $260,105
-
4 · Accounts receivable
end of year $3,303
-
9 · Prepaid expenses and deferred charges
beginning of year $12,763 · end of year $8,042
-
10a · Land, buildings and equipment: cost or other basis
$49,527
-
10b · Land, buildings and equipment: accumulated depreciation
$35,810
-
10c · Land, buildings and equipment, net
beginning of year $18,353 · end of year $13,717
-
11 · Investments: publicly traded securities
beginning of year $464,607 · end of year $507,333
-
15 · Other assets
beginning of year $12,744 · end of year $283,903
-
17 · Accounts payable and accrued expenses
beginning of year $54,940 · end of year $70,852
-
18 · Grants payable
beginning of year $112,722 · end of year $120,187
-
19 · Deferred revenue
beginning of year $4,050
-
25 · Other liabilities
beginning of year $3,890 · end of year $279,148
-
27 · Net assets without donor restrictions
beginning of year $934,942 · end of year $968,093
Mission and programs · 2022
Mission
THE FOUNDATION SUPPORTS TEXAS' INDEPENDENT NONPROFIT COLLEGES AND UNIVERSITIES BY STRENGTHENING MEMBER INSTITUTIONS BY EDUCATING UNIVERSITY STAFF THROUGH SEMINARS AND TRAINING OPPORTUNITIES, EDUCATING STAKEHOLDERS ABOUT STRATEGIC ISSUES IMPORTANT TO PRIVATE HIGHER EDUCATION IN TEXAS, CONDUCTING RESEARCH AND PRODUCING COLLATERAL RELEVANT TO THE MISSION OF ITS MEMBERS, SEEKING AND DISTRIBUTING SCHOLARSHIPS FOR STUDENTS AT ITS MEMBERS, AND PROVIDING SIGNIFICANT COST SAVINGS THROUGH COLLABORATIVE PURCHASING AGREEMENTS
Activities or mission (Part I)
THE FOUNDATION SUPPORTS TEXAS' INDEPENDENT NONPROFIT COLLEGES AND UNIVERSITIES BY STRENGTHENING MEMBER INSTITUTIONS THRU EDUCATION.
-
EDUCATION OF MEMBERS - THE ICUT FOUNDATION MEMBERSHIP CONSISTS OF 40 ACCREDITED INDEPENDENT INSTITUTIONS OF HIGHER EDUCATION IN TEXAS. ICUT FOUNDATION SERVES THESE MEMBERS BY EDUCATING THEM ON ISSUES AFFECTING THEIR INSTITUTIONS OR THEIR STUDENTS. THIS INCLUDES INNOVATIVE EDUCATIONAL TOOLS, NEW LAWS, RULES, REGULATIONS AND OTHER TOPICS OF INTEREST. WE COMMUNICATE THIS INFORMATION VIA WEBINARS, IN-PERSON TRAININGS AND MEETINGS, NEWSLETTERS AND EMAILS. IN ADDITION, WE COLLECT AND ANALYZE DATA FROM VARIOUS SOURCES TO PROVIDE RELEVANT INFORMATION TO OUR MEMBERS.
Expenses $639,954 · Revenue $1,474,408
-
MEMBER SERVICES - THE MEMBERS OF ICUT FOUNDATION HAVE ACCESS TO DOZENS OF GROUP PURCHASING AGREEMENTS OFFERING THEM SIGNIFICANT SAVINGS ON PRODUCTS AND SERVICES RELATED TO THEIR EDUCATIONAL PURPOSE. WE HOLD MEETINGS FOR VARIOUS GROUPS ON CAMPUS THAT PROVIDE A FORUM TO SHARE IDEAS AND LEARN ABOUT NEW INITIATIVES IN THEIR RESPECTIVE FIELDS. IN ADDITION, MEMBERS ARE ELIGIBLE TO PARTICIPATE IN AN ICUT FOUNDATION SELF-FUNDED HEALTH PLAN.
Expenses $311,240
-
THE 40 INDEPENDENT COLLEGES AND UNIVERSITIES IN TEXAS, WHO ARE SERVED BY THE FOUNDATION, WERE GIVEN THE OPPORTUNITY TO PARTICIPATE IN SCHOLARSHIP PROGRAMS. IN FISCAL YEAR 2023, THE ICUT FOUNDATION AWARDED 78 SCHOLARSHIPS TOTALING 206,600.
Expenses $206,600 · Grants $206,600
-
LEGISLATIVE - THE MEMBERS OF ICUT FOUNDATION ARE REPRESENTED BY BOTH THE ICUT FOUNDATION PRESIDENT AND A CONTRACT LOBBYIST WHO MEET WITH STAKEHOLDERS TO EDUCATE THEM ON THE VALUE OF PRIVATE NON-PROFIT HIGHER EDUCATION IN TEXAS.
Expenses $143,704
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
STEVEN JOHNSON
CEO (10-12/2
- Total calculated
- $292,002
- From this org
- $250,360
- From related orgs
- $0
- Other
- $41,642
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $245,360
- Bonus
- not reported
- Other
- $5,000
- Deferred
- $30,043
- Nontaxable benefits
- $11,599
- Filer's total
- $292,002
-
ELIZABETH PUTHOFF
PRESIDENT
- Total calculated
- $208,670
- From this org
- $177,511
- From related orgs
- $0
- Other
- $31,159
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $170,011
- Bonus
- not reported
- Other
- $7,500
- Deferred
- $21,301
- Nontaxable benefits
- $9,858
- Filer's total
- $208,670
-
LOIS HOLLIS
SENIOR DIREC
- Total calculated
- $135,118
- From this org
- $108,505
- From related orgs
- $0
- Other
- $26,613
- Hours/week
- 40
-
RICHARD LUDWICK
CHAIR
- Total calculated
- $0
- Hours/week
- 4
-
CHARLIE MCCORMICK
CHAIR-ELECT
- Total calculated
- $0
- Hours/week
- 4
-
PHIL SCHUBERT
PAST CHAIR
- Total calculated
- $0
- Hours/week
- 4
-
BLAIR BLACKBURN
SECRETARY
- Total calculated
- $0
- Hours/week
- 4
-
DEBBIE COTTRELL
TREASURER
- Total calculated
- $0
- Hours/week
- 4
-
GERALD TURNER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 4
-
HERMAN FELTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 4
-
STEVEN O'DAY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 4
-
THOMAS EVANS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 4
-
BOBBY HALL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 4
-
LINDA LIVINGSTONE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 4
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 · Health or social club dues or initiation fees
- 1b · Written policy on the line-1a expenses
- 3 · Compensation committee
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 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
- 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
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- SCHEDULE J, PAGE 1, PART I, LINE 1A
- THE ORGANIZATION PAYS SOCIAL CLUB DUES FOR THE PRESIDENT, WHICH ARE DEEMED NECESSARY TO PERFORM JOB.
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.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 13 August 2024
- IRS schema version
- 2022v5.0
- Source object
- 202402269349302150
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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