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Nonprofiteer
← RICE TRUST INC

Form 990 for tax year 2023

Filed by RICE TRUST INC.

Totals

Total revenue
$530,882
Total expenses
$362,530
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$219,335
Other revenue
$311,547
Total assets, end of year
$4,537,470
Total liabilities, end of year
$5,660
Net assets or fund balances, end of year
$4,531,810
Program services expenses (Part IX)
$298,297
Management and general expenses
$64,233
Fundraising expenses
$0
Program service expenses (Part III)
$298,297

Program services were 82.3% 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.

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $107,141 · excluded $107,141

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $315,304

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

    securities $203,110

  • 7c · Gain or loss

    securities $112,194 · other assets $0

  • 7d · Net gain or loss

    total $112,194 · excluded $112,194

  • 11a · Other revenue: FIDUCIARY INCOME

    total $311,547 · related or exempt $311,547

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $311,547

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $21,702 · management and general $21,702

  • 11c · Fees: accounting

    total $30,490 · management and general $30,490

  • 11g · Fees: other

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

  • 23 · Insurance

    total $9,390 · management and general $9,390

  • 24a · Other expenses: SALARIES REIMBURSEMENT

    total $269,242 · program services $269,242

  • 24b · Other expenses: MGT. & CUSTODY FEE

    total $29,055 · program services $29,055

  • 24c · Other expenses: OTHER EXP

    total $2,651 · management and general $2,651

  • 24e · All other expenses

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

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $98,775 · end of year $18,325

  • 4 · Accounts receivable

    beginning of year $4,269 · end of year $9,508

  • 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

  • 9 · Prepaid expenses and deferred charges

    end of year $1

  • 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 $4,037,855 · end of year $4,509,636

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,165 · end of year $5,660

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $4,135,734 · end of year $4,531,810

Mission and programs · 2023

Mission

TO SUPPORT WILLIAM MARSH RICE UNIVERSITY EIN 74-1109620

  • RICE TRUST INC. SERVES AS A TRUSTEE FOR CHARITABLE REMAINDER TRUSTS WHICH ULTIMATELY BENEFIT WILLIAM MARSH RICE UNIVERSITY, AN IRC SECTION 501(C)(3) ORGANIZATION.

    Expenses $298,297 · Revenue $311,547

As filed on the 2023 return.

Listed in Part VII

  • Amy Nelson

    Director, President

    Total calculated
    $235,183
    From this org
    $0
    From related orgs
    $198,363
    Other
    $36,820
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $168,363 related
    Bonus
    $0
    Other
    $0 + $30,000 related
    Deferred
    $0 + $22,440 related
    Nontaxable benefits
    $0 + $14,380 related
    Filer's total
    $0 + $235,183 related

  • Bradley Fralic

    Director, Chair

    Total calculated
    $350,492
    From this org
    $0
    From related orgs
    $289,929
    Other
    $60,563
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $280,990 related
    Bonus
    $0
    Other
    $0 + $8,939 related
    Deferred
    $0 + $36,904 related
    Nontaxable benefits
    $0 + $23,659 related
    Filer's total
    $0 + $350,492 related

  • Cindy Melton

    Director, Treasurer

    Total calculated
    $599,602
    From this org
    $0
    From related orgs
    $516,650
    Other
    $82,952
    Hours/week
    1 + 43 related

    Schedule J breakdown matched by us

    Base
    $0 + $332,150 related
    Bonus
    $0 + $132,000 related
    Other
    $0 + $52,500 related
    Deferred
    $0 + $41,490 related
    Nontaxable benefits
    $0 + $41,462 related
    Filer's total
    $0 + $599,602 related

  • Omar Syed

    Director, Secretary

    Total calculated
    $541,686
    From this org
    $0
    From related orgs
    $490,215
    Other
    $51,471
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $440,515 related
    Bonus
    $0 + $30,000 related
    Other
    $0 + $19,700 related
    Deferred
    $0 + $49,090 related
    Nontaxable benefits
    $0 + $2,381 related
    Filer's total
    $0 + $541,686 related

  • Ronica Smucker

    Director, Vice President

    Total calculated
    $491,772
    From this org
    $0
    From related orgs
    $423,530
    Other
    $68,242
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $393,530 related
    Bonus
    $0
    Other
    $0 + $30,000 related
    Deferred
    $0 + $41,490 related
    Nontaxable benefits
    $0 + $26,752 related
    Filer's total
    $0 + $491,772 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

  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
THE FOLLOWING OFFICER(S), DIRECTOR(S), TRUSTEE(S), KEY EMPLOYEE(S) AND/OR HIGHEST COMPENSATED EMPLOYEES PARTICIPATED IN OR RECEIVED PAYMENT FROM A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN IN CALENDAR YEAR 2023, SUBJECT TO SATISFYING VESTING CONDITIONS RELATED TO CONTINUING SERVICE TO THE UNIVERSITY. AWARD AMOUNTS THAT MAY OR MAY NOT HAVE VESTED ARE SHOWN BELOW. AMOUNTS THAT BECAME TAXABLE DURING THE YEAR DUE TO VESTING OR DISTRIBUTION ARE INCLUDED IN PART II, COLUMN B (III). ACCRUALS FOR AWARDS THAT HAVE NOT VESTED ARE INCLUDED IN THE AMOUNTS SHOWN IN PART II, COLUMN C. OMAR SYED: $30,000 CURRENT YEAR AWARD; $17,500 ACCRUAL FOR AWARDS NOT YET VESTED.
Schedule J, Part I, Line 7 Non-fixed payments
CONTRACTS OF CERTAIN INDIVIDUALS INCLUDE PROVISIONS THAT ALLOW THEM TO RECEIVE ADDITIONAL COMPENSATION IF SPECIFIC CRITERIA OR CIRCUMSTANCES ARE MET OR PERFORMANCE THRESHOLDS ARE ACHIEVED. PAYMENTS WERE MADE UNDER SUCH CONTRACTS IN CALENDAR YEAR 2023 TO CINDY MELTON.

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.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
13 May 2025
IRS schema version
2023v6.0
Source object
202501339349305085

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