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Nonprofiteer
← ICUT FOUNDATION

Form 990 for tax year 2024

Filed by ICUT FOUNDATION.

Totals

Total revenue
$2,019,752
Total expenses
$1,870,457
Contributions and grants received
$270,000
Grants paid
$243,000
Program services expenses (Part IX)
$1,418,114
Management and general expenses
$434,944
Fundraising expenses
$17,399
Program service expenses (Part III)
$1,418,114

Program services were 75.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • CHARLIE MCCORMICK

    CHAIR

    Total calculated
    $0
    Hours/week
    4
  • DEBBIE COTTRELL

    CHAIR-ELECT

    Total calculated
    $0
    Hours/week
    4
  • MELVA WALLACE

    SECRETARY

    Total calculated
    $0
    Hours/week
    4
  • PHIL SCHUBERT

    TREASURER

    Total calculated
    $0
    Hours/week
    4
  • RICHARD LUDWICK

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    4
  • CORY HINES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4
  • GERALD TURNER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4
  • HERMAN FELTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4
  • JONATHAN SANFORD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4
  • MONTSERRAT FUENTES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4
  • THOMAS EVANS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4
  • VANESSA BEASLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4
  • ELIZABETH PUTHOFF

    PRESIDENT

    Total calculated
    $332,644
    From this org
    $286,306
    From related orgs
    $0
    Other
    $46,338
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $278,806
    Bonus
    $0
    Other
    $7,500
    Deferred
    $35,762
    Nontaxable benefits
    $10,576
    Filer's total
    $332,644
  • LOIS HOLLIS

    SENIOR DIRECTOR

    Total calculated
    $125,060
    From this org
    $95,289
    From related orgs
    $0
    Other
    $29,771
    Hours/week
    40

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 — 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 · Compensation committee
  • 3 · Written employment contract
  • 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

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 1A HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES
ICUT FOUNDATION PAID DUES FOR THE PRESIDENT TO BELONG TO THE AUSTIN CLUB, WHICH ARE DEEMED NECESSARY TO PERFORM JOB. THERE IS A RESTAURANT AND MEETING SPACE WHERE THE PRESIDENT CAN HOLD LUNCH MEETINGS. THE PRESIDENT DID NOT RECEIVE TAXABLE COMPENSATION AS THE EXPENSE WAS PAID FOR ON THEIR BEHALF. THE PRESIDENT ALSO RECEIVED REIMBURSEMENT FOR AUTOMOBILE EXPENSES, WHICH WAS TAXABLE AND REPORTED ON FORM W-2.

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.

Provenance

Return type
form_990
Tax year
2024
IRS schema version
2024v5.1
Source object
202642229349301419

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