Form 990 for tax year 2022
Filed by MCCOMBS SCHOOL OF BUSINESS FOUNDATION.
Totals
- Total revenue
- $23,706,118
- Total expenses
- $21,529,369
- Contributions and grants received
- $134,512
- Grants paid
- $1,121,800
- Program service revenue
- $22,852,840
- Investment income
- $713,689
- Other revenue
- $5,077
- Total assets, end of year
- $44,565,274
- Total liabilities, end of year
- $4,073,247
- Net assets or fund balances, end of year
- $40,492,027
- Program services expenses (Part IX)
- $17,952,873
- Management and general expenses
- $3,490,254
- Fundraising expenses
- $86,242
- Program service expenses (Part III)
- $17,952,873
Program services were 83.4% 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.
-
1f · All other contributions, gifts and grants
$134,512
-
2a · Program service revenue: Bus Foundations courses
total $562,923 · related or exempt $562,923
-
2b · Program service revenue: Exec Education programs
total $22,228,259 · related or exempt $22,228,259
-
2c · Program service revenue: Other program revenues
total $61,658 · unrelated business $61,658
-
3 · Investment income
total $801,859 · excluded $801,859
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
securities $1,038,661
-
7b · Less cost or other basis and sales expenses
securities $1,126,831
-
7c · Gain or loss
securities -$88,170
-
7d · Net gain or loss
total -$88,170 · excluded -$88,170
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: Other revenue
total $5,077 · excluded $5,077
-
11e · Other revenue, total
$5,077
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,121,800 · program services $1,121,800
-
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 $1,380,486 · program services $1,324,954 · management and general $55,532
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $104,832 · program services $100,584 · management and general $4,248
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $23,300 · management and general $23,300
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $98,444 · management and general $98,444
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $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 $39,568 · management and general $39,568
-
24a · Other expenses: Exec Educ program expenses
total $14,808,220 · program services $14,808,220
-
24b · Other expenses: UT mgmt and use fee
total $2,249,816 · management and general $2,249,816
-
24c · Other expenses: Exec Educ marketing
total $842,856 · management and general $842,856
-
24d · Other expenses: BFPO course materials
total $488,952 · program services $488,952
-
24e · All other expenses
total $371,095 · program services $108,363 · management and general $176,490 · fundraising $86,242
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $5,282,205 · end of year $2,156,562
-
2 · Savings and temporary cash investments
beginning of year $1,395,304 · end of year $5,232,964
-
3 · Pledges and grants receivable
beginning of year $494,994 · end of year $99,216
-
4 · Accounts receivable
beginning of year $3,864,342 · end of year $4,452,415
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $13,602 · end of year $18,520
-
10a · Land, buildings and equipment: cost or other basis
$1,695,180
-
10b · Land, buildings and equipment: accumulated depreciation
$1,695,180
-
10c · Land, buildings and equipment, net
end of year $0
-
11 · Investments: publicly traded securities
beginning of year $11,751,312 · end of year $12,700,132
-
12 · Investments: other securities
beginning of year $19,508,164 · end of year $19,844,478
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $58,197 · end of year $60,987
-
17 · Accounts payable and accrued expenses
beginning of year $2,403,731 · end of year $2,479,781
-
19 · Deferred revenue
beginning of year $1,056,636 · end of year $553,970
-
25 · Other liabilities
beginning of year $1,010,738 · end of year $1,039,496
-
27 · Net assets without donor restrictions
beginning of year $22,858,550 · end of year $25,433,085
-
28 · Net assets with donor restrictions
beginning of year $15,038,465 · end of year $15,058,942
Mission and programs · 2022
Mission
To provide support to The University of Texas McCombs School of Business.
-
The Foundation is contracted by various organizations to design, develop and implement customized training programs. McCombs School of Business faculty members are actively involved in Texas Executive Education; many of the most experienced teach in the Foundation's custom programs. In addition, as appropriate, the Foundation calls upon professors in other schools and colleges of The University of Texas (The University) to help construct and participate in custom programs, including Communications, Engineering, Law, Information, and Public Administration.
Expenses $16,171,534 · Revenue $22,228,259
-
Faculty, student, and administrative support to The University of Texas McCombs School of Business.
Expenses $1,781,339 · Grants $1,121,800 · Revenue $624,581
As filed on the 2022 return.
Listed in Part VII
-
Eric Hirst
Professor
- Total calculated
- $772,395
- From this org
- $17,280
- From related orgs
- $656,556
- Other
- $98,559
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $17,280 + $656,556 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $80,889 related
- Nontaxable benefits
- not reported + $17,670 related
- Filer's total
- $17,280 + $755,115 related
-
Luis Martins
Professor
- Total calculated
- $728,298
- From this org
- $47,255
- From related orgs
- $582,544
- Other
- $98,499
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $47,255 + $582,544 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $74,218 related
- Nontaxable benefits
- not reported + $24,281 related
- Filer's total
- $47,255 + $681,043 related
-
Clemens Sialm
Professor
- Total calculated
- $655,482
- From this org
- $37,189
- From related orgs
- $547,640
- Other
- $70,653
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $37,189 + $547,640 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $43,525 related
- Nontaxable benefits
- not reported + $27,128 related
- Filer's total
- $37,189 + $618,293 related
-
Ethan Burris
Professor
- Total calculated
- $635,588
- From this org
- $1,580
- From related orgs
- $570,583
- Other
- $63,425
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $1,580 + $570,583 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $37,925 related
- Nontaxable benefits
- not reported + $25,500 related
- Filer's total
- $1,580 + $634,008 related
-
David Harrison
Professor
- Total calculated
- $608,401
- From this org
- $16,425
- From related orgs
- $531,552
- Other
- $60,424
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $16,425 + $531,552 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $45,185 related
- Nontaxable benefits
- not reported + $15,239 related
- Filer's total
- $16,425 + $591,976 related
-
Caitlin Mullaney
Managing Dir
- Total calculated
- $338,368
- From this org
- $0
- From related orgs
- $263,138
- Other
- $75,230
- Hours/week
- 7 + 40 related
Schedule J breakdown matched by us
- Base
- not reported + $263,138 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $63,695 related
- Nontaxable benefits
- not reported + $11,535 related
- Filer's total
- not reported + $338,368 related
-
Kent Ferguson
Chairman
- Total calculated
- $0
- Hours/week
- 2
-
Charles Holley Jr
Sec/Treasurer
- Total calculated
- $0
- Hours/week
- 2
-
John Bass
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Bill Helms
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Jim McBride
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Heather McClure
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Gabriella Parcella
Trustee
- Total calculated
- $0
- Hours/week
- 1
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
-
$820,000
Scholarships
-
The University of Texas
$301,800
AIM Center & Other Purposes
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.
-
The University of Texas
Education · TX
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.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
MSB RE Fund LLC
Private equity real estate investment fund program · TX
Directly controlled by The McCombs School of Business Fdn
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
MSB RE Fund Participant LLC
C corp · Private equity real estate · TX · 100% owned · share of income -$165,524 · share of assets $6,286,006 · controlled entity
Directly controlled by MSB RE Fund LLC
-
Texas McCombs Investment Advisers Inc
C corp · Investment management · TX · 100% owned · share of income $165,542 · share of assets $60,428 · controlled entity
Directly controlled by MSBF
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 13 July 2024
- IRS schema version
- 2022v5.0
- Source object
- 202411959349300701
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