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Nonprofiteer
← TUCC INC

Form 990 for tax year 2024

Filed by TUCC INC.

Totals

Total revenue
$4,173,857
Total expenses
$1,307,956
Contributions and grants received
$3,710,000
Grants paid
$800,000
Program service revenue
$0
Investment income
$431,050
Other revenue
$32,807
Total assets, end of year
$21,127,261
Total liabilities, end of year
$2,197,071
Net assets or fund balances, end of year
$18,930,190
Program services expenses (Part IX)
$800,000
Management and general expenses
$507,956
Fundraising expenses
$0
Program service expenses (Part III)
$800,000

Program services were 61.2% 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

    $3,710,000

  • 1g · Noncash contributions included above

    $3,710,000

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $431,050 · excluded $431,050

  • 6a · Gross rents

    real property $32,807

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $32,807 · personal property $0

  • 6d · Net rental income or loss

    total $32,807 · excluded $32,807

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $800,000 · program services $800,000

  • 11c · Fees: accounting

    total $2,520 · management and general $2,520

  • 11g · Fees: other

    total $60 · program services $0 · management and general $60 · fundraising $0

  • 24a · Other expenses: Taxes

    total $505,376 · program services $0 · management and general $505,376 · fundraising $0

  • 24e · All other expenses

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

Balance sheet

Part X, book values.

  • 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

  • 10a · Land, buildings and equipment: cost or other basis

    $0

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $12,891,667 · end of year $16,047,000

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $5,737,413 · end of year $5,080,261

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,151,631 · end of year $1,370,937

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $876,621 · end of year $826,134

  • 27 · Net assets without donor restrictions

    beginning of year $13,816,532 · end of year $16,094,959

  • 28 · Net assets with donor restrictions

    beginning of year $2,784,296 · end of year $2,835,231

Mission and programs · 2024

Mission

The purpose of TUCC is to support Taylor University through the administration of donated non-cash contributions.

Activities or mission (Part I)

Support the educational purposes of Taylor University.

  • TUCC was created by Taylor University to serve as the corporate trustee of the Taylor University Sponsoring Organization (TUSO). Taylor University Sponsoring Organization was created by the University to accept primarily non-cash contributions.

    Expenses $800,000 · Grants $800,000

As filed on the 2024 return.

Listed in Part VII

  • Dr D Michael Lindsay

    President

    Total calculated
    $653,232
    From this org
    $0
    From related orgs
    $571,350
    Other
    $81,882
    Hours/week
    1 + 67 related

    Schedule J breakdown matched by us

    Base
    $0 + $415,249 related
    Bonus
    $0 + $153,250 related
    Other
    $0 + $2,851 related
    Deferred
    $0 + $25,535 related
    Nontaxable benefits
    $0 + $56,347 related
    Filer's total
    $0 + $653,232 related

  • Mike Falder

    VP for University Advancement

    Total calculated
    $206,459
    From this org
    $0
    From related orgs
    $167,736
    Other
    $38,723
    Hours/week
    30 + 22 related

    Schedule J breakdown matched by us

    Base
    $0 + $140,268 related
    Bonus
    $0 + $26,000 related
    Other
    $0 + $1,468 related
    Deferred
    $0 + $8,926 related
    Nontaxable benefits
    $0 + $29,797 related
    Filer's total
    $0 + $206,459 related

  • Stephen Olson

    Secretary & Treasurer

    Total calculated
    $214,253
    From this org
    $0
    From related orgs
    $172,747
    Other
    $41,506
    Hours/week
    1 + 52 related

    Schedule J breakdown matched by us

    Base
    $0 + $156,387 related
    Bonus
    $0 + $16,000 related
    Other
    $0 + $360 related
    Deferred
    $0 + $9,967 related
    Nontaxable benefits
    $0 + $31,539 related
    Filer's total
    $0 + $214,253 related

  • Angela Angelovska-Wilson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Bob Wright

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Dan Wolgemuth

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Jeff Jones

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Mark Davis

    Director

    Total calculated
    $0
    Hours/week
    1 + 3 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

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
The compensation of related organization employees is determined by the related organization, Taylor University. The following is used: compensation committee, Independent compensation consultant. Form 990 of other organizations, compensation survey or study, and approval by the independent members of the Board or Executive Committee.

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.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Charitable Remainder Trusts (1)

    Trust · Charitable Trusts · CA

    Directly controlled by Taylor University

  • Charitable Remainder Trusts (7)

    Trust · Charitable Trusts · IN

    Directly controlled by Taylor University

  • Charitable Remainder Trusts (1)

    Trust · Charitable Trusts · MI

    Directly controlled by Taylor University

  • Charitable Remainder Trusts (1)

    Trust · Charitable Trusts · MO

    Directly controlled by Taylor University

  • Charitable Remainder Trusts (1)

    Trust · Charitable Trusts · OH

    Directly controlled by Taylor University

  • Pooled Income Funds (1)

    Trust · Pooled Income Fund · DE

    Directly controlled by Taylor University

  • 1846 Real Estate Kershner Commons LLC

    C Corporation · Real estate · IN

    Directly controlled by 1846 Enterprises Inc

Provenance

Return type
form_990
Tax year
2024
Filed
15 April 2026
IRS schema version
2024v5.1
Source object
202621059349301462

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