Form 990 for tax year 2023
Filed by OHIO FOUNDATION OF INDEPENDENT COLLEGES INC.
Totals
- Total revenue
- $4,373,175
- Total expenses
- $4,111,486
- Contributions and grants received
- $2,315,772
- Grants paid
- $2,447,142
- Program service revenue
- $1,221,739
- Investment income
- $825,664
- Other revenue
- $10,000
- Total assets, end of year
- $7,576,567
- Total liabilities, end of year
- $179,608
- Net assets or fund balances, end of year
- $7,396,959
- Program services expenses (Part IX)
- $3,050,452
- Management and general expenses
- $503,346
- Fundraising expenses
- $557,688
- Program service expenses (Part III)
- $3,050,452
Program services were 74.2% 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.
-
1f · All other contributions, gifts and grants
$2,315,772
-
2a · Program service revenue: ASSESSMENT INCOME
total $1,221,739 · related or exempt $1,221,739
-
3 · Investment income
total $198,765 · excluded $198,765
-
7a · Gross sales of assets other than inventory
securities $2,324,374
-
7b · Less cost or other basis and sales expenses
securities $1,697,475
-
7c · Gain or loss
securities $626,899
-
7d · Net gain or loss
total $626,899 · excluded $626,899
-
11a · Other revenue: BAD DEBT RECOVERY
total $10,000 · related or exempt $10,000
-
11e · Other revenue, total
$10,000
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $2,447,142 · program services $2,447,142
-
5 · Compensation of officers, directors and key employees
total $417,098 · program services $166,668 · management and general $82,204 · fundraising $168,226
-
7 · Other salaries and wages
total $424,320 · program services $169,553 · management and general $83,628 · fundraising $171,139
-
8 · Pension plan contributions
total $31,152 · program services $12,448 · management and general $6,140 · fundraising $12,564
-
9 · Other employee benefits
total $102,569 · program services $40,985 · management and general $20,215 · fundraising $41,369
-
10 · Payroll taxes
total $55,097 · program services $22,016 · management and general $10,859 · fundraising $22,222
-
11c · Fees: accounting
total $87,694 · program services $24,614 · management and general $40,091 · fundraising $22,989
-
11f · Fees: investment management
total $60,975 · management and general $60,975
-
11g · Fees: other
total $268,602 · program services $50,778 · management and general $170,399 · fundraising $47,425
-
13 · Office expenses
total $16,877 · program services $7,679 · management and general $2,194 · fundraising $7,004
-
14 · Information technology
total $5,171 · program services $2,353 · management and general $672 · fundraising $2,146
-
16 · Occupancy
total $34,384 · program services $15,645 · management and general $4,470 · fundraising $14,269
-
17 · Travel
total $28,790 · program services $11,504 · management and general $5,674 · fundraising $11,612
-
19 · Conferences, conventions and meetings
total $8,048 · program services $3,216 · management and general $1,586 · fundraising $3,246
-
23 · Insurance
total $7,683 · program services $3,070 · management and general $1,514 · fundraising $3,099
-
24a · Other expenses: PROGRAM AWARENESS
total $56,688 · program services $56,688
-
24b · Other expenses: SERVICE CONTRACTS AND E
total $27,055 · program services $12,310 · management and general $3,517 · fundraising $11,228
-
24c · Other expenses: SPECIAL EVENTS
total $15,529 · fundraising $15,529
-
24d · Other expenses: MISCELLANEOUS
total $7,758 · management and general $7,758
-
24e · All other expenses
total $8,854 · program services $3,783 · management and general $1,450 · fundraising $3,621
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $603,250 · end of year $468,816
-
3 · Pledges and grants receivable
beginning of year $273,489 · end of year $102,478
-
9 · Prepaid expenses and deferred charges
beginning of year $23,051 · end of year $30,344
-
11 · Investments: publicly traded securities
beginning of year $6,710,027 · end of year $6,967,671
-
15 · Other assets
beginning of year $15,967 · end of year $7,258
-
17 · Accounts payable and accrued expenses
beginning of year $229,100 · end of year $80,839
-
25 · Other liabilities
beginning of year $134,618 · end of year $98,769
-
27 · Net assets without donor restrictions
beginning of year $503,125 · end of year $490,587
-
28 · Net assets with donor restrictions
beginning of year $6,758,941 · end of year $6,906,372
Mission and programs · 2023
Mission
TO SOLICIT CONTRIBUTIONS FROM THE CORPORATE COMMUNITY AND PRIVATE FOUNDATIONS ON BEHALF OF 33 MEMBER-COLLEGE/UNIVERSITIES THAT SERVE NEARLY 80,000 STUDENTS. MEMBERS ARE NONPROFIT, PRIVATELY CONTROLLED, 4-YEAR COLLEGES/UNIVERSITIES CHARTERED BY THE STATE OF OHIO, ARE FULLY ACCREDITED BY HIGHER LEARNING COMMISSION, AND HAVE A CURRICULAR PROGRAM IN TRADITIONAL LIBERAL ARTS. CONTRIBUTIONS TO OFIC ARE DISTRIBUTED TO COLLEGES/UNIVERSITIES ANNUALLY AND PROVIDE TUITION ASSISTANCE AND OPERATIONAL SUPPORT. OFIC PROVIDES ITS DONORS WITH AN EFFICIENT MEANS TO SUPPORT INDEPENDENT HIGHER EDUCATION. OFIC ALSO PROVIDES PROGRAMS TO PROMOTE CORPORATE/INDEPENDENT HIGHER EDUCATION PARTNERSHIPS AND PROVIDES LEADERSHIP IN DEVELOPING EFFORTS THAT RESULT IN REDUCED COSTS AND IMPROVED BUSINESS PRACTICES FOR ITS MEMBERS.
-
ADMINISTER AND CARRY OUT SUCCESSFUL SCHOLARSHIP PROGRAMS - THE OHIO SCHOLARS PROGRAM AND SCHOLARSHIP MANAGEMENT RESOURCES - THAT PROVIDE CASH DISTRIBUTIONS TO COLLEGES AND UNIVERSITIES FOR STUDENT SCHOLARSHIPS AND AWARDS. THESE FUNDS NOT ONLY PROVIDE FINANCIAL ASSISTANCE FOR STUDENTS, BUT ALSO OFFER OHIO'S BUSINESS AND INDUSTRY WITH AN OPPORTUNITY TO CULTIVATE FUTURE LEADERS AND EMPLOYEES. THESE DISTRIBUTIONS INCLUDE FINANCIAL AID AND SPECIAL PROGRAM GRANTS FOR COLLEGE CAMPUS ACTIVITIES. AS AN EXTENSION OF THIS PROGRAM, OFIC CONDUCTS ANNUAL JOB FAIRS - THE CAREERFEST AND THE ACCOUNTING CAREERFEST - PROGRAMS THAT ALLOW STUDENTS TO MEET AND INTERVIEW WITH OFIC DONOR COMPANIES AND OTHER INTERESTED PARTICIPANTS.
Expenses $2,617,786 · Grants $2,236,332 · Revenue $926,304
-
ESTABLISH A STRONG VOLUNTEER NETWORK OF BUSINESS/INDUSTRY AND COLLEGE/UNIVERSITY PROFESSIONALS TO CONDUCT AN ANNUAL SOLICITATION PROGRAM THAT PROVIDES UNRESTRICTED DISTRIBUTIONS TO OHIO INDEPENDENT COLLEGES AND UNIVERSITIES. UNRESTRICTED CONTRIBUTIONS TO OFIC ARE DISTRIBUTED IN ENTIRETY TO THE 33 OFIC-MEMBER COLLEGES AND UNIVERSITIES IN ACCORDANCE WITH A DISTRIBUTION FORMULA THAT REQUIRES 60% OF THE TOTAL TO BE DIVIDED EQUALLY AND 40% OF THE TOTAL TO BE BASED UPON EACH MEMBER'S FULL-TIME AND FULL-TIME EQUIVALENT UNDERGRADUATE ENROLLMENTS. THIS IS AN IMPORTANT SOURCE OF FINANCIAL SUPPORT FOR OUR MEMBERS, ALLOWING THEM TO APPLY IT TO AREAS OF GREATEST NEED AND ENABLING THEM TO RELY ON SOURCES OTHER THAN JUST TUITION TO SUPPORT COSTS ASSOCIATED WITH PROVIDING AN ACCESSIBLE, QUALITY EDUCATION.
Expenses $269,842 · Grants $210,810
-
COORDINATE AND FACILITATE COLLABORATIVE PROGRAMS DESIGNED TO HELP OHIO'S INDEPENDENT COLLEGES AND UNIVERSITIES CONSERVE COSTS AND IMPROVE OPERATING EFFICIENCIES, AS WELL AS COORDINATE AND IMPLEMENT PROGRAMS DESIGNED TO BRING EDUCATION AND BUSINESS TOGETHER FOR SPECIFIC PURPOSES SUCH AS MINORITY RECRUITMENT/RETENTION, STUDENT ADVANCEMENT/ACCESS TO HIGHER EDUCATION.
Expenses $162,824 · Revenue $305,435
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Evan AndrewsEVAN ANDREWS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Melissa BaumannMELISSA BAUMANN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Thomas BechtelTHOMAS BECHTEL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Catherine BeldenCATHERINE BELDEN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
David BelewDAVID BELEW
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
William BissetWILLIAM BISSET
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Rob BohnerROB BOHNER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Gabriel BrunoGABRIEL BRUNO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
James CarulasJAMES CARULAS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Carson CastlemanCARSON CASTLEMAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Corey CockerillCOREY COCKERILL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Timothy CollinsTIMOTHY COLLINS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
John ComerfordJOHN COMERFORD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Matthew DanisMATTHEW DANIS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
David DeckerDAVID DECKER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Margaret DrugovichMARGARET DRUGOVICH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Michael FrandsenMICHAEL FRANDSEN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
James GasiorJAMES GASIOR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Michael GilliganMICHAEL GILLIGAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Christopher GoffCHRISTOPHER GOFF
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
T Stephen GregoryT STEPHEN GREGORY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Frederick HadleyFREDERICK HADLEY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Stephen HirzelSTEPHEN HIRZEL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Yvette HunsickerYVETTE HUNSICKER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Robert HuntingtonROBERT HUNTINGTON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Kevin KaleKEVIN KALE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
David KaufmanDAVID KAUFMAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
David KingDAVID KING
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Gregory KingGREGORY KING
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Michael KoralewskiMICHAEL KORALEWSKI
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Julie KornfieldJULIE KORNFIELD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Pam LeboldPAM LEBOLD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Robert MaloneROBERT MALONE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jim MalzJIM MALZ
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Richanne MankeyRICHANNE MANKEY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Anne McCallANNE MCCALL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Ronald McMasterRONALD MCMASTER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Robert MerzweilerROBERT MERZWEILER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Alan MiciakALAN MICIAK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Suzanne MiklosSUZANNE MIKLOS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Gregory MillerGREGORY MILLER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Bear MonitaBEAR MONITA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Michael MuseMICHAEL MUSE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Timothy NovotnyTIMOTHY NOVOTNY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jon Parrish PeedeJON PARRISH PEEDE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Father David PivonkaFATHER DAVID PIVONKA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Haris PratsinakisHARIS PRATSINAKIS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Shonna RiedlingerSHONNA RIEDLINGER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Katherine Rowe FellKATHERINE ROWE FELL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Tracy SaboTRACY SABO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Thomas SchuckTHOMAS SCHUCK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jennifer SchullerJENNIFER SCHULLER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Lillian SchumacherLILLIAN SCHUMACHER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Troy SingerTROY SINGER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Ralph SmithersRALPH SMITHERS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Randolph SnowRANDOLPH SNOW
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Lisa StavskyLISA STAVSKY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Thomas SuttonTHOMAS SUTTON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Eddie TaylorEDDIE TAYLOR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Ward TimkenWARD TIMKEN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Carmen Twillie AmbarCARMEN TWILLIE AMBAR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Charles TyburskiCHARLES TYBURSKI
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Matthew VandenbergMATTHEW VANDENBERG
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Christine WalkerCHRISTINE WALKER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Wayne WebsterWAYNE WEBSTER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Adam WeinbergADAM WEINBERG
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Thomas WhiteTHOMAS WHITE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Aaron WilliamsAARON WILLIAMS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jane WoodJANE WOOD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Barbara BritenrikerBARBARA BRITENRIKER
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Jim CarulasJIM CARULAS
VICE CHAIR (CORPORATE)
- Total calculated
- $0
- Hours/week
- 1
-
Susan HasselerSUSAN HASSELER
VICE CHAIR (COLLEGIATE)
- Total calculated
- $0
- Hours/week
- 1
-
James FaheyJAMES FAHEY
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Timothy CollinsTIMOTHY COLLINS
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Randall MarkerRANDALL MARKER
PAST CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
William SpikerWILLIAM SPIKER
PRESIDENT
- Total calculated
- $288,801
- From this org
- $219,518
- From related orgs
- $0
- Other
- $69,283
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $212,910
- Bonus
- $6,608
- Other
- $0
- Deferred
- $15,516
- Nontaxable benefits
- $53,767
- Filer's total
- $288,801
-
Brett FieldsBRETT FIELDS
VP OF OPERATIONS
- Total calculated
- $128,297
- From this org
- $111,016
- From related orgs
- $0
- Other
- $17,281
- Hours/week
- 40
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 · Payments for business use of a personal residence
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Written employment contract
- 3 · Approval by the board or compensation committee
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
The filer's explanations (Part III)
- PART I, LINE 1A
- PAYMENT WAS MADE IN ACCORDANCE WITH THE PRESIDENT'S EMPLOYMENT AGREEMENT AND WAS TAXABLE.
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
-
UNIVERSITY OF SOUTHERN INDIANA
$81,270
SCHOLARSHIPS
-
$76,677
SCHOLARSHIPS
-
$69,619
SCHOLARSHIPS
-
$64,503
SCHOLARSHIPS
-
SCHOLARSHIPS
-
$59,690
SCHOLARSHIPS
-
BALDWIN WALLACE UNIVERSITY
$59,594
SCHOLARSHIPS
-
$57,662
SCHOLARSHIPS
-
$55,896
SCHOLARSHIPS
-
$55,387
SCHOLARSHIPS
The 10 largest by cash amount. The API serves every itemized grant.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 2 April 2025
- IRS schema version
- 2023v6.0
- Source object
- 202521079349301302
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.