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← COUNCIL OF INDEPENDENT NEBRASKA COLLEGES FOUNDATION

Form 990 for tax year 2023

Filed by COUNCIL OF INDEPENDENT NEBRASKA COLLEGES FOUNDATION.

Totals

Total revenue
$1,279,170
Total expenses
$692,485
Contributions and grants received
$783,378
Grants paid
$0
Program service revenue
$296,400
Investment income
$194,947
Other revenue
$4,445
Total assets, end of year
$5,593,874
Total liabilities, end of year
$147,539
Net assets or fund balances, end of year
$5,446,335
Program services expenses (Part IX)
$397,004
Management and general expenses
$132,254
Fundraising expenses
$163,227
Program service expenses (Part III)
$397,004

Program services were 57.3% 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.

  • 1d · Related organizations

    $17,075

  • 1f · All other contributions, gifts and grants

    $766,303

  • 1g · Noncash contributions included above

    $11,914

  • 2a · Program service revenue: MEMBER ASSESSMENTS

    total $296,400 · related or exempt $296,400

  • 3 · Investment income

    total $105,529 · excluded $105,529

  • 7a · Gross sales of assets other than inventory

    securities $782,541

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

    securities $693,123

  • 7c · Gain or loss

    securities $89,418

  • 7d · Net gain or loss

    total $89,418 · excluded $89,418

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $4,445 · related or exempt $4,445

  • 11e · Other revenue, total

    $4,445

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $326,213 · program services $326,213

  • 5 · Compensation of officers, directors and key employees

    total $145,308 · program services $29,062 · management and general $36,327 · fundraising $79,919

  • 7 · Other salaries and wages

    total $69,843 · program services $13,969 · management and general $17,461 · fundraising $38,413

  • 8 · Pension plan contributions

    total $1,807 · program services $361 · management and general $452 · fundraising $994

  • 9 · Other employee benefits

    total $5,439 · program services $1,087 · management and general $1,360 · fundraising $2,992

  • 10 · Payroll taxes

    total $14,874 · program services $2,974 · management and general $3,719 · fundraising $8,181

  • 11b · Fees: legal

    total $5,149 · management and general $5,149

  • 11c · Fees: accounting

    total $8,980 · management and general $8,980

  • 11f · Fees: investment management

    total $19,706 · management and general $19,706

  • 12 · Advertising and promotion

    total $9,173 · program services $3,669 · fundraising $5,504

  • 13 · Office expenses

    total $13,277 · management and general $13,277

  • 16 · Occupancy

    total $13,812 · management and general $13,812

  • 17 · Travel

    total $897 · management and general $897

  • 19 · Conferences, conventions and meetings

    total $37,053 · program services $7,411 · management and general $9,263 · fundraising $20,379

  • 23 · Insurance

    total $1,851 · management and general $1,851

  • 24a · Other expenses: FUNDRAISING EXPENSES

    total $6,845 · fundraising $6,845

  • 24b · Other expenses: ASSESSMENT

    total $6,825 · program services $6,825

  • 24c · Other expenses: DELEGATE EXPENSES

    total $5,433 · program services $5,433

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $162,771 · end of year $143,208

  • 2 · Savings and temporary cash investments

    beginning of year $544,056 · end of year $1,295,290

  • 3 · Pledges and grants receivable

    beginning of year $15,000 · end of year $28,190

  • 4 · Accounts receivable

    beginning of year $5,966 · end of year $5,450

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,738 · end of year $4,738

  • 11 · Investments: publicly traded securities

    beginning of year $3,814,304 · end of year $4,116,998

  • 17 · Accounts payable and accrued expenses

    beginning of year $122,187 · end of year $124,739

  • 19 · Deferred revenue

    beginning of year $22,800 · end of year $22,800

  • 27 · Net assets without donor restrictions

    beginning of year $348,212 · end of year $648,798

  • 28 · Net assets with donor restrictions

    beginning of year $4,053,636 · end of year $4,797,537

Mission and programs · 2023

Mission

THE COUNCIL OF INDEPEPENDENT NEBRASKA COLLEGES FOUNDATION EXISTS TO PROVIDE OPERATING FUNDS AND SCHOLARSHIP SUPPORT FOR STUDENTS ATTENDING NEBRASKA'S INDEPENDENT INSTITUTIONS OF EXCELLENCE.

Activities or mission (Part I)

TO ENHANCE, PROMOTE AND SOLICIT SUPPORT FOR FOUNDATION MEMBERS AND NEBRASKA INDEPENDENT COLLEGES.

  • PROVIDE FINANCIAL, OPERATING, AND SCHOLARSHIP SUPPORT FOR INDEPENDENT COLLEGES AND UNIVERSITIES IN NEBRASKA.(A) TO ENHANCE AND PROMOTE INDEPENDENT, NOT-FOR-PROFIT HIGHER EDUCATION IN NEBRASKA;(B) TO BE A COLLECTIVE VOICE FOR EXCELLENCE AND CHOICE IN HIGHER EDUCATION FOR ALL STUDENTS;(C) TO CONDUCT PUBLIC POLICY ADVOCACY THAT HELPS FURTHER ACHIEVEMENT OF CORPORATION'S CHARITABLE PURPOSES AND MISSION;(D) TO GATHER AND DISSEMINATE INFORMATION AND RESERACH ABOUT THE PERFORMANCE AND CONTRIBUTIONS OF THE INDEPENDENT, NOT-FOR-PROFIT COLLEGES AND UNIVERSITIES IN THE STATE OF NEBRASKA;(E) TO BE A SOURCE OF SUPPLEMENTAL FINANCIAL SUPPORT FOR STUDENTS OF THE MEMBERS;(F) TO EXPLORE AND ASSIST WITH CONSORTIUM GRANT APPLICATIONS FOR MEMBERS TO ADVANCE THEIR MISSIONS; AND(G) TO EXPLORE AND ASSIST IN DEVELOPING COLLABORATIVE SERVICES, SUCH AS GROUP PURCHASING OR SHARED SERVICES AMONG MEMBERS.

    Expenses $397,004 · Revenue $300,845

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mary Hawkins

    DIRECTOR

    Total calculated
    $575,130
    From this org
    $0
    From related orgs
    $548,730
    Other
    $26,400
    Hours/week
    1.5 + 1.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $473,850 related
    Bonus
    $0 + $74,880 related
    Other
    $0
    Deferred
    $0 + $26,400 related
    Nontaxable benefits
    $0 + $690 related
    Filer's total
    $0 + $575,820 related
  • Richard Lloyd

    DIRECTOR

    Total calculated
    $499,817
    From this org
    $0
    From related orgs
    $466,389
    Other
    $33,428
    Hours/week
    1.5 + 1.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $290,499 related
    Bonus
    $0 + $124,844 related
    Other
    $0 + $51,046 related
    Deferred
    $0 + $18,150 related
    Nontaxable benefits
    $0 + $16,175 related
    Filer's total
    $0 + $500,714 related
  • Dr Darrin Good

    VICE CHAIR

    Total calculated
    $389,311
    From this org
    $0
    From related orgs
    $359,022
    Other
    $30,289
    Hours/week
    1.5 + 1.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $304,150 related
    Bonus
    $0
    Other
    $0 + $54,872 related
    Deferred
    $0 + $17,663 related
    Nontaxable benefits
    $0 + $12,834 related
    Filer's total
    $0 + $389,519 related
  • Roger Hughes

    DIRECTOR

    Total calculated
    $366,324
    From this org
    $0
    From related orgs
    $324,012
    Other
    $42,312
    Hours/week
    1.5 + 1.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $300,194 related
    Bonus
    $0 + $5,000 related
    Other
    $0 + $18,818 related
    Deferred
    $0 + $18,312 related
    Nontaxable benefits
    $0 + $33,848 related
    Filer's total
    $0 + $376,172 related
  • Jody Horner

    SECRETARY

    Total calculated
    $312,621
    From this org
    $0
    From related orgs
    $303,762
    Other
    $8,859
    Hours/week
    1.5 + 1.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $295,283 related
    Bonus
    $0
    Other
    $0 + $8,479 related
    Deferred
    $0 + $8,859 related
    Nontaxable benefits
    $0 + $16,183 related
    Filer's total
    $0 + $328,804 related
  • Bernard Bull

    DIRECTOR

    Total calculated
    $226,207
    From this org
    $0
    From related orgs
    $125,100
    Other
    $101,107
    Hours/week
    1.5 + 1.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $125,100 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $27,500 related
    Nontaxable benefits
    $0 + $74,658 related
    Filer's total
    $0 + $227,258 related
  • Heather Smith

    DIRECTOR

    Total calculated
    $173,145
    From this org
    $0
    From related orgs
    $164,900
    Other
    $8,245
    Hours/week
    1.5 + 1.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $164,900 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $8,245 related
    Nontaxable benefits
    $0 + $6,051 related
    Filer's total
    $0 + $179,196 related
  • Samuel Smith

    DIRECTOR

    Total calculated
    $169,417
    From this org
    $0
    From related orgs
    $138,926
    Other
    $30,491
    Hours/week
    1.5 + 1.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $138,926 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $4,170 related
    Nontaxable benefits
    $0 + $26,468 related
    Filer's total
    $0 + $169,564 related
  • Treva Haugaard

    EXECUTIVE DIRECTOR

    Total calculated
    $145,308
    From this org
    $123,600
    From related orgs
    $0
    Other
    $21,708
    Hours/week
    40 + 4 related
  • Vinita Sauder

    DIRECTOR

    Total calculated
    $133,660
    From this org
    $0
    From related orgs
    $123,407
    Other
    $10,253
    Hours/week
    1.5 + 1.5 related
  • Daniel Hendrickson Sj

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5 + 1.5 related
  • Maryanne Stevens Rsm

    DIRECTOR THRU 6/23

    Total calculated
    $6,250
    From this org
    $0
    From related orgs
    $0
    Other
    $6,250
    Hours/week
    1.5 + 1.5 related
  • Deb Carlson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5 + 1.5 related
  • Andreia Nebel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5 + 1.5 related
  • Gary Pack

    DIRECTOR THRU 4/23

    Total calculated
    $0
    Hours/week
    1.5 + 1.5 related
  • Gregory Hohl

    CHAIR

    Total calculated
    $0
    Hours/week
    1.5
  • Steven Ritzman

    TREASURER

    Total calculated
    $0
    Hours/week
    1.5

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

  • 3 · Compensation survey or study
  • 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

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

No itemized grants to organizations 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.

Provenance

Return type
form_990
Tax year
2023
Filed
6 November 2024
IRS schema version
2023v5.1
Source object
202433179349301128

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