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← ICI EDUCATIONAL FOUNDATION

Form 990 for tax year 2022

Filed by ICI EDUCATIONAL FOUNDATION.

Totals

Total revenue
$282,800
Total expenses
$149,381
Contributions and grants received
$200,000
Grants paid
$141,000
Program service revenue
$0
Investment income
$82,800
Other revenue
$0
Total assets, end of year
$1,909,769
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,909,769
Program services expenses (Part IX)
$141,000
Management and general expenses
$8,381
Fundraising expenses
$0
Program service expenses (Part III)
$141,000

Program services were 94.4% 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.

  • 1d · Related organizations

    $200,000

  • 3 · Investment income

    total $82,800 · excluded $82,800

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $141,000 · program services $141,000

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $6,711 · program services $0 · management and general $6,711 · fundraising $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $840 · program services $0 · management and general $840 · fundraising $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: ALL OTHER EXPENSES

    total $830 · program services $0 · management and general $830 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $31,730 · end of year $32,441

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $25,000 · end of year $0

  • 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

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $1,744,792 · end of year $1,877,328

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $1,801,522 · end of year $1,909,769

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

ICI EDUCATION FOUNDATION (THE FOUNDATION) SPONSORS AND PROVIDES FUNDS FOR EDUCATIONAL CONFERENCES, PUBLICATIONS, AND OTHER ACTIVITIES ON ISSUES OF IMPORTANCE TO INVESTMENT COMPANIES, THEIR CURRENT AND PROSPECTIVE SHAREHOLDERS, AND THEIR ADVISERS. THE FOUNDATION MAY ALSO FUND SCHOLARSHIPS, FELLOWSHIPS, GRANTS, AND AWARDS PROGRAMS FOR THE PURPOSE OF PROMOTING INVESTMENT EDUCATION, FINANCIAL LITERACY, AND KNOWLEDGE OF THE INVESTMENT COMPANY BUSINESS.

Activities or mission (Part I)

SEE SCHEDULE O

  • EDUCATION - GRANTS WERE MADE TO BOTTOM LINE, GIRLS WHO INVEST, INC, JUNIOR ACHIEVEMENT FINANCE PARK, ROBERT A TOIGO FOUNDATION, AND SOCIETY FOR FINANCIAL EDUCATION AND PROFESSIONAL DEVELOPMENT.

    Expenses $141,000 · Grants $141,000

As filed on the 2022 return.

Listed in Part VII

  • Eric J Pan

    DIRECTOR

    Total calculated
    $2,558,196
    From this org
    $0
    From related orgs
    $2,488,080
    Other
    $70,116
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,414,699 related
    Bonus
    $0 + $1,050,000 related
    Other
    $0 + $23,381 related
    Deferred
    $0 + $36,600 related
    Nontaxable benefits
    $0 + $33,516 related
    Filer's total
    $0 + $2,558,196 related

  • Tracey Wingate

    PRESIDENT

    Total calculated
    $540,146
    From this org
    $0
    From related orgs
    $470,030
    Other
    $70,116
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $359,609 related
    Bonus
    $0 + $100,000 related
    Other
    $0 + $10,421 related
    Deferred
    $0 + $36,600 related
    Nontaxable benefits
    $0 + $33,516 related
    Filer's total
    $0 + $540,146 related

  • Mark A Delcoco

    TREASURER

    Total calculated
    $446,935
    From this org
    $0
    From related orgs
    $376,819
    Other
    $70,116
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $307,368 related
    Bonus
    $0 + $60,500 related
    Other
    $0 + $8,951 related
    Deferred
    $0 + $36,600 related
    Nontaxable benefits
    $0 + $33,516 related
    Filer's total
    $0 + $446,935 related

  • Nhan H Nguyen

    SECRETARY

    Total calculated
    $373,846
    From this org
    $0
    From related orgs
    $337,137
    Other
    $36,709
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $314,099 related
    Bonus
    $0 + $20,000 related
    Other
    $0 + $3,038 related
    Deferred
    $0 + $36,600 related
    Nontaxable benefits
    $0 + $109 related
    Filer's total
    $0 + $373,846 related

  • Linda J Brenner

    VICE PRESIDENT

    Total calculated
    $299,731
    From this org
    $0
    From related orgs
    $250,653
    Other
    $49,078
    Hours/week
    15 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $244,704 related
    Bonus
    $0
    Other
    $0 + $5,949 related
    Deferred
    $0 + $29,604 related
    Nontaxable benefits
    $0 + $19,474 related
    Filer's total
    $0 + $299,731 related

  • Michael D McNamee

    FORMER OFFICER

    Total calculated
    $104,278
    From this org
    $0
    From related orgs
    $104,278
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $16,088 related
    Bonus
    $0
    Other
    $0 + $88,190 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $104,278 related

  • George Cw Gatch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 2 related

  • Yie-Hsin Hung

    CHAIR

    Total calculated
    $0
    Hours/week
    0.25 + 2 related

  • Dawn M Vroegop

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 1 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

  • 4a · Severance or change-of-control payment

Answered no

  • 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, PART I, LINE 4A:
MICHAEL D. MCNAMEE, FORMER PRESIDENT OF THE ICI EDUCATION FOUNDATION, RECEIVED RETIREMENT PAYMENTS IN 2022 IN THE AMOUNT OF $79,962.

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

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
2022
Filed
8 August 2024
IRS schema version
2022v5.0
Source object
202422269349301877

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