Civic Intelligence

Texas Tech Alumni Association Endowment Trust

990 • Fiscal year 2015 • EIN 23-7319286

Sep 01, 2014 to Aug 31, 2015 • Filed on Jul 15, 2016

PO Box 45001Lubbock, TX 79409

(806) 742-3641

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

21st percentile

0.02x

Higher debt load relative to assets than 21% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

52nd percentile

0.20x

Higher debt load relative to revenue than 52% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Net Margin

92nd percentile

55%

Higher net margin than 92% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Asset Growth

73rd percentile

8.8%

Faster asset growth than 73% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2015

Revenue Growth

11th percentile

-27%

Faster revenue growth than 11% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2015

Assets

Up

$8,938,070

Up $1,385,346 (+18%) from 2013

Net Assets

Up

$8,771,721

Up $1,251,844 (+17%) from 2013

Liabilities

Up

$166,349

Up $133,502 (+406%) from 2013

Revenue

Down

$827,344

Down $714,135 (-46%) from 2013

Expenses

Up

$368,751

Up $55,286 (+18%) from 2013

Net Income

Down

$458,593

Down $769,421 (-63%) from 2013

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$20M$15M$10M$5.0M$0Assets 2010: $5,659,993Liabilities 2010: $26,464Net Assets 2010: $5,633,5292010Assets 2011: $5,660,816Liabilities 2011: $20,411Net Assets 2011: $5,640,4052011Assets 2012: $6,264,658Liabilities 2012: $31,151Net Assets 2012: $6,233,5072012Assets 2013: $7,552,724Liabilities 2013: $32,847Net Assets 2013: $7,519,8772013Assets 2015: $8,938,070Liabilities 2015: $166,349Net Assets 2015: $8,771,7212015Assets 2016: $9,431,731Liabilities 2016: $197,410Net Assets 2016: $9,234,3212016Assets 2017: $10,941,007Liabilities 2017: $394,090Net Assets 2017: $10,546,9172017Assets 2018: $11,716,808Liabilities 2018: $178,841Net Assets 2018: $11,537,9672018Assets 2019: $11,852,837Liabilities 2019: $89,961Net Assets 2019: $11,762,8762019Assets 2020: $11,833,848Liabilities 2020: $144,704Net Assets 2020: $11,689,1442020Assets 2021: $14,002,966Liabilities 2021: $95,923Net Assets 2021: $13,907,0432021Assets 2022: $14,292,236Liabilities 2022: $76,068Net Assets 2022: $14,216,1682022Assets 2023: $14,864,543Liabilities 2023: $179,888Net Assets 2023: $14,684,6552023Assets 2024: $16,567,730Liabilities 2024: $174,732Net Assets 2024: $16,392,9982024

Highlighted filing

2015

Assets$8,938,070
Liabilities$166,349
Net Assets$8,771,721

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2010: $302,8752010Expenses 2011: $229,5602011Expenses 2012: $260,4342012Revenue 2013: $1,541,479Expenses 2013: $313,465Net Income 2013: $1,228,0142013Revenue 2015: $827,344Expenses 2015: $368,751Net Income 2015: $458,5932015Revenue 2016: $1,105,466Expenses 2016: $438,302Net Income 2016: $667,1642016Revenue 2017: $1,413,114Expenses 2017: $425,420Net Income 2017: $987,6942017Revenue 2018: $863,511Expenses 2018: $386,237Net Income 2018: $477,2742018Revenue 2019: $732,138Expenses 2019: $527,669Net Income 2019: $204,4692019Revenue 2020: $726,202Expenses 2020: $598,436Net Income 2020: $127,7662020Revenue 2021: $246,773Expenses 2021: $579,903Net Income 2021: -$333,1302021Revenue 2022: $1,059,568Expenses 2022: $552,392Net Income 2022: $507,1762022Revenue 2023: $673,328Expenses 2023: $545,172Net Income 2023: $128,1562023Revenue 2024: $1,422,521Expenses 2024: $679,085Net Income 2024: $743,4362024

Highlighted filing

2015

Revenue$827,344
Expenses$368,751
Net Income$458,593
Jump To
Filing Snapshot
Filing Period
Sep 1, 2014 to Aug 31, 2015
Signed
Jul 15, 2016
Return Version
2014v6.0
Gross Receipts
$2,655,062
Mission and Program Overview

Mission

To assist in developing and increasing the facilities of texas tech university by and through activities of the texas tech alumni association. The goal is the advancement of higher education and broader educational opportunities including research and other literary and scientific undertakings. Provide scholarships and alumni faculty awards.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$6,458,082$7,570,284▲ $1,112,202
Savings and Temporary Cash Investments$1,778,293$1,013,460▼ $764,833
Prepaid Expenses and Deferred Charges$300,238$326,160▲ $25,922
Cash and Non-Interest-Bearing Accounts$37,391$25,797▼ $11,594
Total Assets$8,777,372$8,938,070▲ $160,698
Other Assets Total$203,368$2,369▼ $200,999
Liabilities
Other Liabilities$42,000$107,368▲ $65,368
Accounts Payable and Accrued Expenses$176,229$58,981▼ $117,248
Total Liabilities$218,229$166,349▼ $51,880
Net Assets / Fund Balance
Permanently Rstr Net Assets$6,868,848$7,150,196▲ $281,348
Temporarily Rstr Net Assets$1,690,295$1,621,525▼ $68,770
Total Net Assets Fund Balance$8,559,143$8,771,721▲ $212,578
Total Liabilities and Net Assets / Fund Balance$8,777,372$8,938,070▲ $160,698

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$8,559,143$646,585▲ $180,759-$8,771,721
2013$7,519,877$534,998▲ $729,581-$8,559,143
2012$6,233,507$1,311,175▲ $270,091-$7,519,877
2011$5,640,406$674,242▲ $179,293-$6,233,507
2010$5,633,529$226,811▲ $9,626-$5,640,406
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$646,585
Program Service Revenue
$0
Investment Income
$180,759
Other Revenue
$0
All Other Contributions
$646,585
Change in Net Assets
$458,593

Audited Revenue Reconciliation

Revenue per Audited Statements
$827,344
Revenue Not Reported on Form 990
$-246,015
Total Revenue per Audited Statements
$581,329
Total Revenue per Form 990
$827,344
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$350,514
Other Expenses$18,237
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$350,514--$350,514
Fees for Services Accounting-$18,237-$18,237
Total Functional Expenses$350,514$18,237$0$368,751

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$368,751
Total Expenses per Audited Statements$368,751
Total Expenses per Form 990$368,751
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Scholarships Payable$84,700
Due to Affiliate$22,668
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The form 990 is reviewed by the endowment officers and is then made available to the other board members for their review.

Form 990, Page 6, Part VI, Line 19

AVAILABLE UPON REQUEST.

Filing and Contact Details

Filer

Filer Name
Texas Tech Alumni Association
EIN
23-7319286
Phone
8067423641
Address
PO BOX 45001, LUBBOCK, TX 79409

Signing Officer

Name
David Low
Title
Chief Financial/admin Officer
Phone
8067423641
Signed
2016-07-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Low
Formed
1973
Legal Domicile
TX
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
10

Preparer

Firm
Rpc Cpas Consultants Llp
Address
2403 82ND ST, LUBBOCK, TX 79423-2300
Preparer
Jimmy D Pendergrass
Phone
8067456789
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To assist in developing and increasing the facilities of texas tech university by and through activities of the texas tech alumni association. The goal is the advancement of higher education and broader educational opportunities including research and other literary and scientific undertakings. Provide scholarships and alumni faculty awards.

Financial Statement Notes

Schedule D, Page 3, Part X

The endowment trust is exempt from federal income taxes under section 501 (c)(3) of the internal revenue code and, accordingly, no provision for income taxes is included in the financial statements. Income tax benefits are recognized for income tax positions taken, or expected to be taken, in a tax return only when it is determined that the income tax position will more likely than not be sustained upon examination by taxing authorities. The endowment trust has analyzed its tax positions taken for filings with the internal revenue service and believes that its income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse affect on the endowment trust's financial condition, results of operations, or cash flows. Accordingly, the endowment trust has not recorded any tax assets or liabilities, or related accruals for interest and penalties for uncertain income tax positions at august 31, 2014. It is the endowment trust's policy to recognize interest and/or penalties related to income tax matters in income tax expense. The endowment trust is not under examination for any open tax years. With few exceptions, the endowment trust is no longer subject to u.s. Federal income tax examinations for years before 2011.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ENDOWMENT TRUST IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE AND, ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE FINANCIAL STATEMENTS. INCOME TAX BENEFITS ARE RECOGNIZED FOR INCOME TAX POSITIONS TAKEN, OR EXPECTED TO BE TAKEN, IN A TAX RETURN ONLY WHEN IT IS DETERMINED THAT THE INCOME TAX POSITION WILL MORE LIKELY THAN NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE ENDOWMENT TRUST HAS ANALYZED ITS TAX POSITIONS TAKEN FOR FILINGS WITH THE INTERNAL REVENUE SERVICE AND BELIEVES THAT ITS INCOME TAX FILING POSITIONS WILL BE SUSTAINED UPON EXAMINATION AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN A MATERIAL ADVERSE AFFECT ON THE ENDOWMENT TRUST'S FINANCIAL CONDITION, RESULTS OF OPERATIONS, OR CASH FLOWS. ACCORDINGLY, THE ENDOWMENT TRUST HAS NOT RECORDED ANY TAX ASSETS OR LIABILITIES, OR RELATED ACCRUALS FOR INTEREST AND PENALTIES FOR UNCERTAIN INCOME TAX POSITIONS AT AUGUST 31, 2014. IT IS THE ENDOWMENT TRUST'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO INCOME TAX MATTERS IN INCOME TAX EXPENSE. THE ENDOWMENT TRUST IS NOT UNDER EXAMINATION FOR ANY OPEN TAX YEARS. WITH FEW EXCEPTIONS, THE ENDOWMENT TRUST IS NO LONGER SUBJECT TO U.S. FEDERAL INCOME TAX EXAMINATIONS FOR YEARS BEFORE 2011.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO ASSIST IN DEVELOPING AND INCREASING THE FACILITIES OF TEXAS TECH UNIVERSITY BY AND THROUGH ACTIVITIES OF THE TEXAS TECH ALUMNI ASSOCIATION. THE GOAL IS THE ADVANCEMENT OF HIGHER EDUCATION AND BROADER EDUCATIONAL OPPORTUNITIES INCLUDING RESEARCH AND OTHER LITERARY AND SCIENTIFIC UNDERTAKINGS. PROVIDE SCHOLARSHIPS AND ALUMNI FACULTY AWARDS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED BY THE ENDOWMENT OFFICERS AND IS THEN MADE AVAILABLE TO THE OTHER BOARD MEMBERS FOR THEIR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$16.6$0.17$16.4$1.42$0.68$0.74
2023Detailed filing. Detailed filing data is available for this year.$14.9$0.18$14.7$0.67$0.55$0.13
2022Detailed filing. Detailed filing data is available for this year.$14.3$0.08$14.2$1.06$0.55$0.51
2021Detailed filing. Detailed filing data is available for this year.$14.0$0.10$13.9$0.25$0.58$0.33
2020Detailed filing. Detailed filing data is available for this year.$11.8$0.14$11.7$0.73$0.60$0.13
2019Detailed filing. Detailed filing data is available for this year.$11.9$0.09$11.8$0.73$0.53$0.20
2018Detailed filing. Detailed filing data is available for this year.$11.7$0.18$11.5$0.86$0.39$0.48
2017Detailed filing. Detailed filing data is available for this year.$10.9$0.39$10.5$1.41$0.43$0.99
2016Detailed filing. Detailed filing data is available for this year.$9.43$0.20$9.23$1.11$0.44$0.67
2015Detailed filing. Detailed filing data is available for this year.$8.94$0.17$8.77$0.83$0.37$0.46
2013Detailed filing. Detailed filing data is available for this year.$7.55$0.03$7.52$1.54$0.31$1.23
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.26$0.03$6.23$0.26
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.66$0.02$5.64$0.23
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.66$0.03$5.63$0.30