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Nonprofiteer
← CTU FOUNDATION INC

Form 990 for tax year 2023

Filed by CTU FOUNDATION INC.

Totals

Total revenue
$2,550,762
Total expenses
$2,395,971
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,798,513
Investment income
$0
Other revenue
$752,249
Total assets, end of year
$4,087,753
Total liabilities, end of year
$4,080,423
Net assets or fund balances, end of year
$7,330
Program services expenses (Part IX)
$2,154,547
Management and general expenses
$217,041
Fundraising expenses
$24,383
Program service expenses (Part III)
$2,154,547

Program services were 89.9% 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: HOUSING FEES

    total $1,785,595 · related or exempt $1,785,595

  • 2b · Program service revenue: AUXILIARY INCOME

    total $12,918 · related or exempt $12,918

  • 11a · Other revenue: MANAGEMENT FEES

    total $690,301 · excluded $690,301

  • 11b · Other revenue: ALL OTHER REVENUE

    total $61,948 · excluded $61,948

  • 11e · Other revenue, total

    $752,249

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $60,573 · program services $43,006 · management and general $14,537 · fundraising $3,030

  • 9 · Other employee benefits

    total $52,159 · program services $37,033 · management and general $12,518 · fundraising $2,608

  • 16 · Occupancy

    total $2,180,807 · program services $2,072,780 · management and general $89,402 · fundraising $18,625

  • 24a · Other expenses: MANAGEMENT FEES

    total $100,000 · management and general $100,000

  • 24b · Other expenses: DUES AND FEE

    total $2,432 · program services $1,728 · management and general $584 · fundraising $120

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $756,223 · end of year $673,723

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,287 · end of year $5,697

  • 14 · Intangible assets

    beginning of year $3,508,333 · end of year $3,408,333

  • 19 · Deferred revenue

    beginning of year $34,482 · end of year $46,899

  • 25 · Other liabilities

    beginning of year $4,380,823 · end of year $4,033,524

  • 27 · Net assets without donor restrictions

    beginning of year -$147,462 · end of year $7,330

Mission and programs · 2023

Mission

NONE

Activities or mission (Part I)

SUPPORTING ORGANIZATION OF THE INSTITUTION KNOWN AS CAPITOL TECHNOLOGY UNVIERSITY.

  • SUPPORT THE INSTITUTION KNOWN AS CAPITOL TECHNOLOGY UNIVERSITY.

    Expenses $2,154,547 · Revenue $1,798,513

As filed on the 2023 return.

Listed in Part VII

  • Dwight Yoder

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0 + 2 related

  • Bg Gen Ret Earl Simms

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0 + 2 related

  • Melinda A Bunnell-Rhyne

    PRESIDENT

    Total calculated
    $127,184
    From this org
    $0
    From related orgs
    $121,215
    Other
    $5,969
    Hours/week
    2 + 40 related

  • Kim Wittler

    VICE PRESIDENT

    Total calculated
    $138,309
    From this org
    $0
    From related orgs
    $111,946
    Other
    $26,363
    Hours/week
    1 + 40 related

  • Darryl Campbell Term 12224

    SECRETARY/TREASURER

    Total calculated
    $181,600
    From this org
    $0
    From related orgs
    $170,340
    Other
    $11,260
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $148,003 related
    Bonus
    $0 + $7,500 related
    Other
    $0 + $14,837 related
    Deferred
    $0 + $2,813 related
    Nontaxable benefits
    $0 + $8,447 related
    Filer's total
    $0 + $181,600 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

None.

Answered no

  • 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

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
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202501349349304670

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