Totals
- Total revenue
- $180,410,012
- Total expenses
- $102,801,914
- Contributions and grants received
- $41,983,237
- Grants paid
- $17,901,931
- Program service revenue
- $62,634,798
- Investment income
- $72,508,413
- Other revenue
- $3,283,564
- Total assets, end of year
- $1,056,573,165
- Total liabilities, end of year
- $76,978,467
- Net assets or fund balances, end of year
- $979,594,698
- Program services expenses (Part IX)
- $86,513,621
- Management and general expenses
- $11,162,980
- Fundraising expenses
- $5,125,313
- Program service expenses (Part III)
- $86,513,621
Program services were 84.2% 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
$41,983,237
-
1g · Noncash contributions included above
$3,458,810
-
2a · Program service revenue: Tuition & Fees for Students
total $62,446,998 · related or exempt $62,446,998 · unrelated business $0 · excluded $0
-
2b · Program service revenue: Student events/transportation
total $187,800 · related or exempt $187,800 · unrelated business $0 · excluded $0
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $15,574,423 · unrelated business $59,843 · excluded $15,514,580
-
6a · Gross rents
real property $454,125
-
6b · Less rental expenses
real property $168,447
-
6c · Rental income or loss
real property $285,678 · personal property $0
-
6d · Net rental income or loss
total $285,678 · related or exempt $48,490 · excluded $237,188
-
7a · Gross sales of assets other than inventory
securities $725,646,430
-
7b · Less cost or other basis and sales expenses
securities $668,652,711 · other assets $59,729
-
7c · Gain or loss
securities $56,993,719 · other assets -$59,729
-
7d · Net gain or loss
total $56,933,990 · excluded $56,933,990
-
9a · Gaming: gross income
$3,060
-
9b · Gaming: direct expenses
$1,000
-
9c · Net income from gaming
total $2,060 · excluded $2,060
-
10a · Gross sales of inventory
$4,145,644
-
10b · Cost of goods sold
$2,470,088
-
10c · Net income from sales of inventory
total $1,675,556 · related or exempt $964,072 · unrelated business $721 · excluded $710,763
-
11a · Other revenue: International Medical Insurance
total $753,466 · related or exempt $753,466
-
11b · Other revenue: Special Events
total $184,960 · related or exempt $184,960
-
11c · Other revenue: Air Conditioner Fees
total $51,000 · related or exempt $51,000
-
11d · All other revenue
total $330,844 · related or exempt $330,215 · unrelated business $0 · excluded $629
-
11e · Other revenue, total
$1,320,270
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,600,000 · program services $1,600,000
-
2 · Grants to domestic individuals
total $16,301,931 · program services $16,301,931
-
5 · Compensation of officers, directors and key employees
total $589,100 · program services $176,730 · management and general $176,730 · fundraising $235,640
-
7 · Other salaries and wages
total $28,770,607 · program services $23,756,357 · management and general $2,438,949 · fundraising $2,575,301
-
8 · Pension plan contributions
total $750,000 · program services $595,555 · management and general $98,459 · fundraising $55,986
-
9 · Other employee benefits
total $14,656,404 · program services $12,362,894 · management and general $1,462,117 · fundraising $831,393
-
10 · Payroll taxes
total $2,859,676 · program services $2,412,179 · management and general $285,280 · fundraising $162,217
-
11b · Fees: legal
total $153,725 · management and general $153,725
-
11c · Fees: accounting
total $188,383 · management and general $188,383
-
11f · Fees: investment management
total $2,680,944 · management and general $2,680,944
-
11g · Fees: other
total $9,284,238 · program services $7,595,704 · management and general $1,600,767 · fundraising $87,767
-
12 · Advertising and promotion
total $482,904 · program services $25,522 · management and general $31,905 · fundraising $425,477
-
13 · Office expenses
total $755,912 · program services $498,808 · management and general $117,208 · fundraising $139,896
-
14 · Information technology
total $1,495,757 · program services $652,912 · management and general $326,564 · fundraising $516,281
-
16 · Occupancy
total $2,850,041 · program services $2,700,699 · management and general $149,342
-
17 · Travel
total $496,310 · program services $365,330 · management and general $35,809 · fundraising $95,171
-
19 · Conferences, conventions and meetings
total $210,203 · program services $162,454 · management and general $47,749
-
20 · Interest
total $1,736,020 · program services $1,645,081 · management and general $90,939
-
22 · Depreciation, depletion and amortization
total $7,496,270 · program services $7,103,465 · management and general $392,805
-
23 · Insurance
total $996,834 · program services $944,600 · management and general $52,234
-
24a · Other expenses: Program-instructional support
total $4,446,578 · program services $4,156,937 · management and general $289,641 · fundraising $0
-
24b · Other expenses: Maintenance-equipment rentals
total $2,205,839 · program services $2,067,499 · management and general $138,156 · fundraising $184
-
24c · Other expenses: Property taxes
total $164,532 · program services $155,911 · management and general $8,621 · fundraising $0
-
24d · Other expenses: Fuel
total $164,986 · program services $160,059 · management and general $4,927 · fundraising $0
-
24e · All other expenses
total $1,464,720 · program services $1,072,994 · management and general $391,726 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $93,012 · end of year $23,586
-
2 · Savings and temporary cash investments
beginning of year $54,547,743 · end of year $53,190,018
-
3 · Pledges and grants receivable
beginning of year $35,935,705 · end of year $25,938,115
-
4 · Accounts receivable
beginning of year $228,070 · end of year $121,630
-
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
-
8 · Inventories for sale or use
beginning of year $2,747,510 · end of year $2,953,197
-
9 · Prepaid expenses and deferred charges
beginning of year $3,100,442 · end of year $2,489,428
-
10a · Land, buildings and equipment: cost or other basis
$312,166,679
-
10b · Land, buildings and equipment: accumulated depreciation
$156,753,888
-
10c · Land, buildings and equipment, net
beginning of year $130,758,997 · end of year $155,412,791
-
11 · Investments: publicly traded securities
beginning of year $228,583,685 · end of year $464,315,762
-
12 · Investments: other securities
beginning of year $501,914,543 · end of year $337,779,895
-
13 · Investments: program-related
beginning of year $0
-
14 · Intangible assets
beginning of year $0
-
15 · Other assets
beginning of year $13,221,260 · end of year $14,348,743
-
17 · Accounts payable and accrued expenses
beginning of year $6,849,229 · end of year $5,839,104
-
18 · Grants payable
beginning of year $0
-
19 · Deferred revenue
beginning of year $24,473,224 · end of year $24,864,654
-
20 · Tax-exempt bond liabilities
beginning of year $38,300,000 · end of year $38,300,000
-
21 · Escrow or custodial account liability
beginning of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $1,064,596 · end of year $1,114,139
-
25 · Other liabilities
beginning of year $9,156,506 · end of year $6,860,570
-
27 · Net assets without donor restrictions
beginning of year $309,960,614 · end of year $361,968,751
-
28 · Net assets with donor restrictions
beginning of year $581,326,798 · end of year $617,625,947
-
29 · Capital stock, trust principal or current funds
beginning of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $0
Mission and programs · 2023
Mission
Culver's mission is to educate its students for leadership and responsible citizenship in society by nurturing the whole individual- mind, spirit and body - through integrated programs that emphasize the cultivation of character.
Activities or mission (Part I)
To educate its students for leadership and responsible citizenship in society by nurturing the whole individual- mind, spirit and body - through integrated programs that emphasize the cultivation of character.
-
Culver promises top academics, competitive athletics and education you need to be a leader and a responsible global citizen in high school, in college and beyond. Culver encourages you to develop your individual interests and talents, all while helping you move beyond self-imposed limitations. Our mission to develop and nurture the whole person - mind, spirit and body - with our unique focus on leadership training means you receive the total educational experience that has set Culver above other schools for more than a century. Instruction is for grades 9-12, ranging from the arts and music to science, math and humanities as well as unique programs in leadership, wellness and a servant leadership project requirement for graduation.
Expenses $41,000,952 · Grants $1,600,000 · Revenue $52,782,239
-
Culver Academies understands the financial commitment of an independent school education and focuses on maximizing our resources to provide opportunities to those families who qualify or warrant assistance. Culver offers need based financial aid assistance as well as non-need-based awards. Need based aid depends solely on a family's financial profile and is independent from the admissions process. Scholarships / Merit awards are based on the strength of the candidate and can range from small amounts to full awards.
Expenses $16,301,931 · Grants $16,301,931
-
Founded in 1902, Culver Summer Schools and Camps is a fun- filled, naturally beautiful 1,800-acre setting where nearly 1,400 young people from around the world, ages 7-17, develop positive self-esteem through accomplishment and self-discipline. It is a high challenge-high support-high reward environment for learning leadership skills that improve personal confidence.
Expenses $9,969,212 · Revenue $11,220,690
-
Student Services Programs: A variety of student services and activities were provided, including Barber Shop, Laundry-Dry Cleaning, Dining Hall, and Student Health Services.
Expenses $19,241,526 · Revenue $964,072
-
Student Services Programs, General/Other: Auxiliary services such as required uniform and a campus bookstore provided for the convenience of students.
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Craig J Duchossois
Vice President
- Total calculated
- $0
- Hours/week
- 3
-
David M Culver
Vice President
- Total calculated
- $0
- Hours/week
- 3
-
Harry L Crisp II
Vice President
- Total calculated
- $0
- Hours/week
- 3
-
James A Henderson
Chairman Emeritus/Vice President
- Total calculated
- $0
- Hours/week
- 10
-
John D Zeglis
Vice President
- Total calculated
- $0
- Hours/week
- 3 + 1 related
-
John J Bollman
Secretary/Vice President
- Total calculated
- $0
- Hours/week
- 3
-
Kathryn R Booth
Treasurer/Vice President
- Total calculated
- $0
- Hours/week
- 5 + 1 related
-
Miles D White
Chairman
- Total calculated
- $0
- Hours/week
- 8 + 1 related
-
Paul C Gignilliat
Vice President
- Total calculated
- $0
- Hours/week
- 3
-
Andrew Ramsey
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Anthony Black
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Bernardo Quintana
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Christine Lauridsen Sand
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
COL Dartanian Warr USAF
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Daniel Kopp
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Dave Chenn
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Eric H Burns
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
George T DeVries III
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
James E Fellowes
Trustee
- Total calculated
- $0
- Hours/week
- 3 + 1 related
-
James S Gault
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Jeffrey A Desich
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Joann L Callahan
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Kimberly Hinshaw Tharin
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Lara K Nicholson
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Laura Schacht Bilicic
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Margrethe Raub Vagell
Trustee Thru June 2024
- Total calculated
- $0
- Hours/week
- 3
-
Marshall Stocker
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
MG John W Peabody US Army
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Michael E Schrage
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Michael R Wilcox
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Rachel Redington Werner
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Rajiv Chopra
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Richard A Jennings
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Robert C Vaughn
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Robert H Ledbetter Jr
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Sodiqa Williams
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Thomas H Story
Trustee
- Total calculated
- $0
- Hours/week
- 3 + 1 related
-
Tiffany Brooks Bernal
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Tiffany S Kyser
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Timika Shafeek-Horton
Trustee Thru June 2024
- Total calculated
- $0
- Hours/week
- 3
-
Whitney K Alvis
Trustee
- Total calculated
- $0
- Hours/week
- 3
-
Brian R Baker
Chief Financial Officer
- Total calculated
- $228,658
- From this org
- $183,407
- From related orgs
- $0
- Other
- $45,251
- Hours/week
- 50 + 3 related
Schedule J breakdown matched by us
- Base
- $182,532
- Bonus
- $0
- Other
- $875
- Deferred
- $18,980
- Nontaxable benefits
- $26,271
- Filer's total
- $228,658
-
Douglas O Bird
Head of Schools
- Total calculated
- $537,092
- From this org
- $405,654
- From related orgs
- $0
- Other
- $131,438
- Hours/week
- 60
Schedule J breakdown matched by us
- Base
- $404,779
- Bonus
- $0
- Other
- $875
- Deferred
- $104,961
- Nontaxable benefits
- $26,477
- Filer's total
- $537,092
-
Caren M Standfast
Dean of Culver Girls Academy
- Total calculated
- $310,645
- From this org
- $113,955
- From related orgs
- $0
- Other
- $196,690
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $113,080
- Bonus
- $0
- Other
- $875
- Deferred
- $11,568
- Nontaxable benefits
- $185,122
- Filer's total
- $310,645
-
Michael T Squires
Commandant of Cadets
- Total calculated
- $294,152
- From this org
- $165,635
- From related orgs
- $0
- Other
- $128,517
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $164,760
- Bonus
- $0
- Other
- $875
- Deferred
- $16,542
- Nontaxable benefits
- $111,975
- Filer's total
- $294,152
-
Andrew Seddelmeyer
Deputy Head of Schools
- Total calculated
- $378,069
- From this org
- $170,246
- From related orgs
- $0
- Other
- $207,823
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $169,371
- Bonus
- $0
- Other
- $875
- Deferred
- $17,638
- Nontaxable benefits
- $190,185
- Filer's total
- $378,069
-
Joshua Pretzer
Dean of Faculty
- Total calculated
- $291,645
- From this org
- $190,711
- From related orgs
- $0
- Other
- $100,934
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $189,836
- Bonus
- $0
- Other
- $875
- Deferred
- $19,268
- Nontaxable benefits
- $81,666
- Filer's total
- $291,645
-
Kimberly Cullen
Dean of Advising
- Total calculated
- $188,353
- From this org
- $149,052
- From related orgs
- $0
- Other
- $39,301
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $148,177
- Bonus
- $0
- Other
- $875
- Deferred
- $13,606
- Nontaxable benefits
- $25,695
- Filer's total
- $188,353
-
Michelle Hicks
Chief Human Resources Officer
- Total calculated
- $231,281
- From this org
- $186,207
- From related orgs
- $0
- Other
- $45,074
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $185,332
- Bonus
- $0
- Other
- $875
- Deferred
- $19,245
- Nontaxable benefits
- $25,829
- Filer's total
- $231,281
-
Steven Pietraszek
Director of Enrollment Management, Admissions
- Total calculated
- $210,213
- From this org
- $171,543
- From related orgs
- $0
- Other
- $38,670
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $170,668
- Bonus
- $0
- Other
- $875
- Deferred
- $17,299
- Nontaxable benefits
- $21,371
- Filer's total
- $210,213
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 · Housing allowance or residence for personal use
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Independent compensation consultant
- 3 · Form 990 of other organizations
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4a · Severance or change-of-control payment
- 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 1a Housing allowance or residence for personal use
- The Culver Academies is a residential boarding school. As a requirement of employment, the Head of Schools lives on campus and is provided housing owned by the School. Listed employees who received housing are: Douglas Bird - $12,000 The value of this housing is included in the individual's non-taxable benefits.
- Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
- DOUGLAS O BIRD, HEAD OF SCHOOLS, PARTICIPATED IN ONE OR MORE SUPPLEMENTAL NONQUALIFIED RETIREMENT PLANS. THE CURRENT YEAR CONTRIBUTION WAS $50,000.
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
-
$1,600,000
GENERAL SUPPORT
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.
-
501(c)(3) · Supporting Organization · IN · controlled entity
Directly controlled by The Culver Educational Foundation
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.
-
CULVER CHAPEL COLUMBARIUM LLC
COLUMBARIUM · IN · income $20,000 · assets $685,941
Directly controlled by Culver Educational Foundation
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
SIGNATURE SCHOOLS LLC
N/A · EDUCATION · SC · 50% owned · share of income $0 · share of assets $0 · general or managing partner
Directly controlled by NA
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
Charitable Remainder Trusts (5) CO - Culver Educational Foundation
Trust · Trusts · IN
Directly controlled by Culver Educational Foundation
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 8 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202541279349303889
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