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Nonprofiteer
← RAZORBACK FOUNDATION INC

Form 990 for tax year 2022

Filed by RAZORBACK FOUNDATION INC.

Totals

Total revenue
$44,580,109
Total expenses
$35,589,796
Contributions and grants received
$43,218,118
Grants paid
$26,533,146
Program service revenue
$0
Investment income
$1,336,962
Other revenue
$25,029
Total assets, end of year
$93,945,531
Total liabilities, end of year
$494,208
Net assets or fund balances, end of year
$93,451,323
Program services expenses (Part IX)
$26,533,146
Management and general expenses
$7,436,873
Fundraising expenses
$1,619,777
Program service expenses (Part III)
$26,533,146

Program services were 74.6% 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

    $43,218,118

  • 1g · Noncash contributions included above

    $1,987,345

  • 3 · Investment income

    total $770,489 · excluded $770,489

  • 7a · Gross sales of assets other than inventory

    securities $2,507,072

  • 7b · Less cost or other basis and sales expenses

    securities $1,940,599

  • 7c · Gain or loss

    securities $566,473

  • 7d · Net gain or loss

    total $566,473 · excluded $566,473

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $25,029 · related or exempt $25,029

  • 11e · Other revenue, total

    $25,029

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $26,533,146 · program services $26,533,146

  • 5 · Compensation of officers, directors and key employees

    total $541,329 · management and general $364,995 · fundraising $176,334

  • 7 · Other salaries and wages

    total $1,629,290 · management and general $1,106,975 · fundraising $522,315

  • 8 · Pension plan contributions

    total $145,261 · management and general $93,251 · fundraising $52,010

  • 9 · Other employee benefits

    total $123,526 · management and general $78,416 · fundraising $45,110

  • 10 · Payroll taxes

    total $151,868 · management and general $95,796 · fundraising $56,072

  • 11b · Fees: legal

    total $20,883 · management and general $20,883

  • 11c · Fees: accounting

    total $27,100 · management and general $27,100

  • 11f · Fees: investment management

    total $26,515 · management and general $20,948 · fundraising $5,567

  • 11g · Fees: other

    total $3,928,722 · management and general $3,902,926 · fundraising $25,796

  • 13 · Office expenses

    total $163,133 · management and general $149,453 · fundraising $13,680

  • 16 · Occupancy

    total $154,983 · management and general $112,733 · fundraising $42,250

  • 17 · Travel

    total $134,718 · management and general $19,892 · fundraising $114,826

  • 19 · Conferences, conventions and meetings

    total $12,590 · management and general $11,954 · fundraising $636

  • 22 · Depreciation, depletion and amortization

    total $512,325 · management and general $512,325

  • 23 · Insurance

    total $48,545 · management and general $48,298 · fundraising $247

  • 24e · All other expenses

    total $1,435,862 · management and general $870,928 · fundraising $564,934

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $33,894,471 · end of year $31,188,198

  • 3 · Pledges and grants receivable

    beginning of year $19,565,062 · end of year $21,061,612

  • 4 · Accounts receivable

    beginning of year $2,036,512 · end of year $2,040,001

  • 9 · Prepaid expenses and deferred charges

    beginning of year $375,095 · end of year $281,899

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

    $6,378,074

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

    $5,351,076

  • 10c · Land, buildings and equipment, net

    beginning of year $1,539,323 · end of year $1,026,998

  • 11 · Investments: publicly traded securities

    beginning of year $9,671,268 · end of year $14,162,849

  • 12 · Investments: other securities

    beginning of year $16,463,449 · end of year $24,183,974

  • 17 · Accounts payable and accrued expenses

    beginning of year $352,787 · end of year $494,208

  • 27 · Net assets without donor restrictions

    beginning of year $69,128,055 · end of year $74,293,543

  • 28 · Net assets with donor restrictions

    beginning of year $14,064,338 · end of year $19,157,780

Mission and programs · 2022

Mission

SUPPORT OF INTERCOLLEGIATE ATHLETICS AT THE UNIVERSITY OF ARKANSAS

  • PAYMENTS TO AND ON BEHALF OF THE UNIVERSITY OF ARKANSAS ATHLETIC DEPARTMENT FOR OPERATIONAL FUNDING.

    Expenses $18,724,934 · Grants $18,724,934

  • PAYMENTS TO AND ON BEHALF OF THE UNIVERSITY OF ARKANSAS ATHLETIC DEPARTMENT FOR FACILITIES, CONSTRUCTION, AND RENOVATION.

    Expenses $7,553,337 · Grants $7,553,337

  • PAYMENTS TO AND ON BEHALF OF THE UNIVERSITY OF ARKANSAS ATHLETIC DEPARTMENT FOR SCHOLARSHIPS.

    Expenses $254,875 · Grants $254,875

As filed on the 2022 return.

Listed in Part VII

  • Kevin Scanlon

    CHAIR AND PRESIDENT

    Total calculated
    $0
    Hours/week
    0.1
  • Mindy West

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.1
  • John Rutledge

    TREASURER

    Total calculated
    $0
    Hours/week
    0.1
  • Angela Ryan

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.1
  • Ken Mourton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1
  • Todd Simmons

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1
  • Rick Chapman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1
  • Charles Redfield

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1
  • Lisa Walker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1
  • Rick Massey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1
  • Derrick Richardson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1
  • Derrick Thomas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1
  • Bryan Hunt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1
  • Jj Hurley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1
  • Marsha Martin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1
  • Scott Varady

    EXECUTIVE DIRECTOR

    Total calculated
    $288,023
    From this org
    $260,026
    From related orgs
    $0
    Other
    $27,997
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $260,026
    Bonus
    $0
    Other
    $0
    Deferred
    $13,408
    Nontaxable benefits
    $14,589
    Filer's total
    $288,023
  • Billye Veteto

    CHIEF FINANCIAL OFFICER

    Total calculated
    $203,001
    From this org
    $179,636
    From related orgs
    $0
    Other
    $23,365
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $179,636
    Bonus
    $0
    Other
    $0
    Deferred
    $18,199
    Nontaxable benefits
    $5,166
    Filer's total
    $203,001
  • John Matsko

    SENIOR ASSOCIATE DIRECTOR

    Total calculated
    $176,557
    From this org
    $147,068
    From related orgs
    $0
    Other
    $29,489
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $147,068
    Bonus
    $0
    Other
    $0
    Deferred
    $15,504
    Nontaxable benefits
    $13,985
    Filer's total
    $176,557
  • Marvin Caston

    SENIOR DIRECTOR OF DEVELOP

    Total calculated
    $184,280
    From this org
    $154,192
    From related orgs
    $0
    Other
    $30,088
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $154,192
    Bonus
    $0
    Other
    $0
    Deferred
    $16,103
    Nontaxable benefits
    $13,985
    Filer's total
    $184,280
  • Mica Strother

    SENIOR DIRECTOR OF DEVELOP

    Total calculated
    $175,596
    From this org
    $150,007
    From related orgs
    $0
    Other
    $25,589
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $150,007
    Bonus
    $0
    Other
    $0
    Deferred
    $15,504
    Nontaxable benefits
    $10,085
    Filer's total
    $175,596
  • Quinn Grovey

    SENIOR DIRECTOR OF DEVELOP

    Total calculated
    $173,865
    From this org
    $153,638
    From related orgs
    $0
    Other
    $20,227
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $153,638
    Bonus
    $0
    Other
    $0
    Deferred
    $15,504
    Nontaxable benefits
    $4,723
    Filer's total
    $173,865

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 · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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 3
EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS DETERMINED THE SALARY OF THE EXECUTIVE DIRECTOR.

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 ARKANSAS

    $18,724,934

    ATHLETIC DEPARTMENT EXPENSES

  • UNIVERSITY OF ARKANSAS

    $7,553,337

    CAPITAL CONSTRUCTION

  • UNIVERSITY OF ARKANSAS

    $254,875

    SCHOLARSHIPS

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.

  • SPORTS SHOWS INC

    RADIO/TELEVISION · AR · income $0 · assets $0

    Directly controlled by RAZORBACK FOUNDATION INC

  • CATO SPRINGS ROAD LLC

    ACCEPT THIRD PARTY GIFTS OF PROP & EQUIP FOR THE BENEFIT OF THE FOUNDATION · AR · income $0 · assets $900,000

    Directly controlled by RAZORBACK FOUNDATION INC

  • A CLUB

    FORMER LETTER WINNER CLUB · AR · income $40,689 · assets $142,638

    Directly controlled by RAZORBACK FOUNDATION INC

  • WILD HOG PRODUCTIONS

    SPECIAL EVENTS · AR · income $0 · assets $0

    Directly controlled by RAZORBACK FOUNDATION INC

  • TSSD LLC

    ACCEPT THIRD PARTY GIFTS OF PROP & EQUIP FOR THE BENEFIT OF THE FOUNDATION · AR · income $0 · assets $0

    Directly controlled by RAZORBACK FOUNDATION INC

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202431359349306683

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